La Jolla Pharmaceutical Company Appoints Dennis Mulroy as Chief Financial Officer
April 06 2015 - 8:00AM
Business Wire
La Jolla Pharmaceutical Company (Nasdaq: LJPC) (the Company or
La Jolla), a leader in the development of innovative therapies
intended to significantly improve outcomes in patients suffering
from life-threatening diseases, today announced that Dennis Mulroy
will join the Company as Chief Financial Officer, effective
today.
“Dennis brings to La Jolla over twenty years of financial
management experience, including leadership positions in publicly
traded biotechnology, life sciences, medical service and medical
device companies,” said George F. Tidmarsh, M.D., Ph.D., President
and Chief Executive Officer of La Jolla. “His impressive background
and proven leadership skills will be an asset to the Company and a
strong complement to our executive team.”
“I’m excited to join the talented team at La Jolla as the
Company prepares to advance its first product from late stage
clinical development into commercial operations,” added Mr.
Mulroy.
Prior to joining La Jolla, Mr. Mulroy served as Chief
Financial Officer of Taxus Cardium Pharmaceuticals Group Inc., a
publicly traded biotechnology company, since 2005. Prior to joining
Taxus Cardium, Mr. Mulroy served as Chief Financial Officer of
Molecular Imaging, Inc. and SeraCare Life Sciences, Inc., and held
financial management positions of increasing responsibility at
several other companies. Mr. Mulroy began his career as a
Certified Public Accountant with Ernst & Young LLP in San
Diego and holds a degree in Business Administration, with an
emphasis in Accounting, from the University of San Diego.
About La Jolla Pharmaceutical Company
La Jolla Pharmaceutical Company is a biopharmaceutical company
focused on the discovery, development and commercialization of
innovative therapies intended to significantly improve outcomes in
patients suffering from life-threatening diseases. The Company has
four product candidates in development. LJPC-501 is La Jolla’s
proprietary formulation of angiotensin II for the potential
treatment of catecholamine-resistant hypotension and hepatorenal
syndrome. GCS-100 is La Jolla’s first-in-class galectin-3 inhibitor
for the potential treatment of chronic kidney disease. LJPC-1010,
La Jolla’s second-generation galectin-3 inhibitor, is a more potent
and purified derivative of GCS-100 that can be delivered orally for
the potential treatment of nonalcoholic steatohepatitis and other
diseases characterized by tissue fibrosis. LJPC-401 is La Jolla’s
novel formulation of hepcidin for the potential treatment of
conditions characterized by iron overload, such as hemochromatosis
and beta thalassemia. For more information on La Jolla, please
visit www.ljpc.com.
NASDAQ Rule 5653(c)(4) Notice
Mr. Mulroy was awarded an option to purchase up to 60,000 shares
of common stock on the commencement of his employment as an
inducement to join the Company (Inducement Option). The Inducement
Option, which has an exercise price equal to the fair value of the
Company’s common stock on the date of grant, vests over a four-year
period from the date of grant. The Inducement Option was granted
outside of the Company’s shareholder-approved equity compensation
plans, but will be governed in all respects as if granted under the
Company’s 2013 Equity Incentive Plan.
Forward-Looking Statement Safe Harbor
This document contains forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995.
These statements relate to future events or the Company’s future
results of operations. These statements are only predictions and
involve known and unknown risks, uncertainties and other factors,
which may cause actual results to be materially different from
these forward-looking statements. The Company cautions readers not
to place undue reliance on any such forward-looking statements,
which speak only as of the date they were made. Certain of these
risks, uncertainties, and other factors are described in greater
detail in the Company's filings with the U.S. Securities and
Exchange Commission (SEC), all of which are available free of
charge on the SEC's web site http://www.sec.gov. These risks include, but are
not limited to, risks relating to: the timing for the filing of an
Investigational New Drug Application, commencement of clinical
studies and the anticipated timing for completion of such studies;
the success of future development activities for LJPC-501, GCS-100,
LJPC-1010 and LJPC-401; and potential indications for which
LJPC-501, GCS-100, LJPC-1010 and LJPC-401 may be developed.
Subsequent written and oral forward-looking statements attributable
to the Company or to persons acting on its behalf are expressly
qualified in their entirety by the cautionary statements set forth
in the Company's reports filed with the SEC. The Company expressly
disclaims any intent to update any forward-looking statements.
La Jolla Pharmaceutical CompanyGeorge F. Tidmarsh, M.D.,
Ph.D.President & Chief Executive Officer(858)
207-4264gtidmarsh@ljpc.comorDennis M. MulroyChief Financial
Officer(858) 433-6839dmulroy@ljpc.com
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