CAMBRIDGE, Mass.--(BUSINESS WIRE)--PixarBio Corporation, (OTC:PXRB) inventors of NeuroRelease™, a novel morphine replacement, non-opiate/opioid, non-addictive pain treatment, today announced the appointment of industry veteran, Barry Belfer MBA, as Senior Vice President of Finance reporting to CEO/CFO, Frank Reynolds.
“PixarBio began trading last week on the OTC Markets under stock symbol PXRB. This as a significant step forward for the Company in advance of our application to list on the Nasdaq Stock Market. To continue to fuel our drive to market we’ll continue build our world class team of leaders,” said PixarBio CEO Frank Reynolds. “As SVP of Corporate Finance and Treasurer of Guardian Life Insurance Company a $10B Fortune 250, Financial Services Company Barry brings a proven track record of success, with a commitment to overachieving. Relevant experience with pharma related companies makes Barry another important piece to PixarBio’s growing leadership infrastructure, and in maintaining momentum toward commercialization of NeuroRelease™. Barry brings a steady business acumen to the executive suite and will fit well within our efficient Pharma model for commercialization," said PixarBio CEO Frank Reynolds
"Throughout my 30 year career in the financial services, private equity, and life sciences industries I have built and created solid financial foundations enabling those businesses to grow and prosper. PixarBio is at the forefront of revolutionizing the way the medical community treats pain management, and I am thrilled to bring my leadership skills and expertise and join Frank Reynolds and his outstanding team on this exciting journey," said Barry Belfer.
The NeuroRelease™ Platform: Non-Addictive and Non-opiate Treatment of Pain
NeuroRelease™ is a morphine replacement, and non-addictive pain platform for the surgical/hospital setting, for the battlefield, or for acute and chronic pain. First product FDA approval for the platform will be a 14-day post-surgical pain treatment and it is expected in late 2018.
Major Benefits of NeuroRelease™
- Effects only sensory signals
- No effect on locomotion nerve fibers, so patients can enter physical therapy quickly
- Maintains two-point discriminate touch so patients can function
- No effect on proprioception so no effect on a person feeling of well-being
Therefore, patients will maintain two-point discriminate touch, control of their locomotion nerve fibers so they control voluntary movement to enter rehabilitation quickly with a non-addictive morphine replacement. PixarBio’s NeuroRelease™ pain platform also includes 4-8 hour, 3-day, 7-day, 14-day and 90-Day pain treatments all have expected FDA approvals in 2020. NeuroRelease™ is biodegradable, and it's non-toxic so NeuroRelease™ can be re-injected to extend treatment timelines.
PixarBio Corporation was awarded the Boston Business Journal's "2016 Best Places to Work". The award recognizes PixarBio as one of the region's best firms, offering the greatest professional opportunities and work environments to innovate.
About PixarBio Corporation
PixarBio is a public company traded on the OTC markets under the stock symbol PXRB. PixarBio is a specialty pharmaceutical/biotechnology company focused on pre-clinical and clinical commercial development of novel neurological drug delivery systems for post-operative pain. PixarBio researches and develops targeted delivery systems for drugs, devices, or biologics to treat pain, epilepsy, Parkinson’s disease, and spinal cord injury. Our lead product platform, NeuroRelease™, has achieved sustained therapeutic release of non-opiate drugs for post-operative, acute and chronic pain in pre-clinical models. For more information, visit www.pixarbio.com.
Safe Harbor Statement
This announcement includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of PixarBio’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of Biotech and medical device industry regulation and health care legislation in the United States and internationally; global trends on cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; PixarBio’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of PixarBio’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
PixarBio Corp undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be obtained through PixarBio’s corporate headquarters at 200 Boston Ave, Suite 1875 in Medford, MA 02155.