NASDAQ: CORV TSX: CORV
– Mark H.N.
Corrigan, MD to Succeed William Hunter, MD as Chief
Executive Officer by the End of the First Quarter 2019 –
– Dr. Hunter to Remain a Member of the Board
of Directors –
– Chief Financial Officer, Justin Renz, Appointed President –
– Vanda De
Cian, MD, to Join the Board of Directors –
VANCOUVER, Jan. 2, 2019 /CNW/ - Correvio Pharma Corp.
(NASDAQ: CORV) (TSX: CORV), a revenue-generating, specialty
pharmaceutical company focused on commercializing hospital drugs,
today announced that Mark H.N.
Corrigan, MD, a current member of the Company's Board
of Directors, has been named Correvio's next Chief Executive
Officer. William Hunter, MD, after a successful 6-year
tenure as President and Chief Executive Officer, will transition
out of his current role by the end of the first quarter of
2019. Dr. Hunter will remain a member of the Company's Board
of Directors.
Dr. Corrigan is a seasoned life sciences executive who brings to
Correvio nearly 30 years of pharmaceutical research, development
and regulatory experience in both the U.S. and international
markets. He has been involved in the successful development
and approval of numerous branded drugs during his career, including
Zyvox®, Rescriptor®, Corvert®,
Mirapex®, Lunesta®, Camptosar®,
Xalatan® and Xopenex®, among others.
Prior to joining Correvio's Board in 2015, Dr. Corrigan served as
President and Chief Executive Officer of Zalicus Inc. Prior
to that, he served as Executive Vice President, Research and
Development at Sepracor Inc. (now Sunovion Pharmaceuticals). Prior
to joining Sepracor, Dr. Corrigan spent 10 years with Pharmacia
& Upjohn, Inc., culminating as Group Vice President of Global
Clinical Research and Experimental Medicine. He currently
serves on the Boards of multiple life science companies, including
Novelion Therapeutics, Nabriva Therapeutics AG, and Tremeau
Pharmaceuticals. Dr. Corrigan previously served on the Board
of Cubist Pharmaceuticals prior to their acquisition by Merck. He
holds a B.A. and an M.D. from the University
of Virginia and received specialty training in psychiatry at
Maine Medical Center and Cornell
University.
Dr. Hunter has served Correvio as Chief Executive Officer since
2012 and as a member of the Board of Directors since 2007.
During this tenure, he has overseen the evolution of Correvio
from a research and development organization to a fully integrated,
ex-U.S. commercial specialty pharmaceutical company with a product
portfolio of five marketed products and a rapidly growing
anti-infective franchise that is currently on track to generate at
least $28 million (USD) in revenues
in 2018. Correvio also has two products advancing toward
regulatory approval, Brinavess® in the U.S. and
Trevyent® in Europe. Other key highlights from
2018 include the successful completion of SPECTRUM, a 1,778 patient
post-authorization safety study conducted in the EU evaluating
Brinavess® in adult patients with recent onset atrial
fibrillation, and the acquisition of Correvio's partner SteadyMed
by United Therapeutics, allowing the Company to collaborate in the
European and the Middle Eastern markets with the world leader in
the treatment of pulmonary arterial hypertension.
"When I accepted the role of CEO in 2012, my top priorities were
to build a commercial team to launch Brinavess® in
Europe and complete SPECTRUM, a
very successful study that has now helped us move forward with the
U.S. FDA," said Dr. Hunter. "Now that those objectives have
been achieved, I am handing operations over to the person most
qualified to take the important next steps of getting Brinavess
approved and launched in the U.S. Having worked closely with
Mark for several years as a member of our Board, I am confident
that he is the right person to continue the strong momentum we have
created. It has been a privilege to lead Correvio these past
years and I look forward to continuing my engagement with the
Company as a member of the Board and working with Mark and the
entire leadership team over the next few months to ensure a smooth
transition."
W. James O'Shea, Chairman of the
Correvio Board of Directors, said, "Mark's appointment as CEO is
the result of a thoughtful succession planning process jointly
undertaken by Bill and the Board. Mark brings extensive
experience with regulatory filings in both the US and Europe and deep knowledge of the infectious
disease space through his time spent at Cubist and Nabriva.
Vanda also brings a wide breadth of commercial infectious
disease experience in Europe. Looking ahead to 2019,
Correvio's top objectives will be comprised of getting Brinavess
approved in the U.S. and continuing to grow our anti-infective
franchise in Europe, both though
increased sales and through potential in-licensing
opportunities. I can think of no better candidates than Mark
and Vanda to help achieve these goals. On behalf of the
entire Board of Directors, I want to thank Bill for his leadership
and his steadfast commitment to patients and to all of our
stakeholders. The Company will continue to benefit from
Bill's expertise and entrepreneurial spirit during his continuing
role as a Director."
"Correvio is well positioned to become one of the next great
hospital-focused specialty pharmaceutical companies in our
industry, and I am honored to succeed Bill as the company's next
CEO," said Dr. Corrigan. "Bill has built a strong management team
and I look forward to working with these talented professionals as
we work toward our mission of bringing new medicines to the
physicians and patients who need them."
In addition to the CEO succession plan, Correvio announced that
Justin Renz, Chief Financial Officer
of Correvio, will also assume the responsibilities of President and
Vanda De Cian, MD, will join the
Board of Directors, effective immediately. Dr. De Cian will
serve as a member of the Nominating, Governance and Compensation
Committees.
Dr. De Cian brings to Correvio 30 years of experience in the
pharmaceutical industry where she has held leadership roles at
several European and multinational pharmaceutical and biotechnology
companies. Dr. De Cian has participated in the development
and successful launch and commercialization of several branded
drugs, including Mycobutin®, Foscarnet®,
Vistide®, Zyvox® and Rescriptor®.
In addition to her medical and technical
qualifications, Dr. De Cian brings an extensive knowledge of the
drug development process, combined with a deep understanding of
effective project management and the commercialization
process. Most recently, she has provided commercial and
strategic consultancy services to a variety of life science
companies through Helios DCV, a consultancy firm she founded in
2012. Prior to Helios, Dr. De Cian served as Vice President,
Corporate Drug Development at Chiesi, a multinational
pharmaceutical company headquartered in Parma, Italy. Before
joining Chiesi, she provided consultancy services for research and
development process improvement for UCB and Schering Plough
Corp. From 2001 to 2004, Dr. De Cian served as Executive
Director for Pharmacia/Pfizer. Following the acquisition of
Pharmacia by Pfizer Inc, she became a member of the Transition
Management Leadership Team which was tasked with designing key
global processes for the new Pfizer Worldwide Development.
From 1987 to 2002, she served in various advising roles for several
international pharmaceutical companies, including Pharmacia,
Centocor (Eli Lilly), AstraZeneca and Farmitalia Carlo Erba
SpA. Dr. De Cian began her career as a laboratory technician
for several private and public hospital laboratories in
Europe.
About Correvio Pharma Corp.
Correvio Pharma Corp. is a revenue-generating, specialty
pharmaceutical company focused on providing innovative,
high-quality brands that meet the needs of acute care physicians
and patients. With a commercial presence and distribution network
covering over 60 countries worldwide, Correvio develops, acquires
and commercializes brands for the in-hospital, acute care market
segment. The Company's portfolio of approved and marketed brands
includes: Xydalba™ (dalbavancin hydrochloride), for the
treatment of acute bacterial skin and skin structure infections
(ABSSSI); Zevtera®/Mabelio® (ceftobiprole
medocaril sodium), a cephalosporin antibiotic for the treatment of
community- and hospital-acquired pneumonia (CAP, HAP);
Brinavess® (vernakalant IV) for the rapid conversion of
recent onset atrial fibrillation to sinus rhythm;
Aggrastat® (tirofiban hydrochloride) for the reduction
of thrombotic cardiovascular events in patients with acute coronary
syndrome, and Esmocard® and Esmocard Lyo®
(esmolol hydrochloride), a short-acting betablocker used to control
rapid heart rate in a number of cardiovascular indications.
Correvio's pipeline of product candidates includes
Trevyent®, a drug device combination that is designed to
deliver treprostinil, the world's leading treatment for pulmonary
arterial hypertension. Correvio is traded on the NASDAQ Capital
Market (CORV) and the Toronto Stock Exchange (CORV). For more
information, please visit our web site www.correvio.com.
Correvio is traded on the NASDAQ Capital Market (CORV) and the
Toronto Stock Exchange (CORV). For more information, please visit
our web site www.correvio.com.
Correvio® and the Correvio Logo are the proprietary
trademarks of Correvio Pharma Corp.
Aggrastat® and Brinavess® are trademarks
owned by Correvio and its affiliates worldwide.
Xydalba™ is a trademark of Allergan Pharmaceuticals
International Limited, and used under license.
Zevtera® and Mabelio® are trademarks owned by
Basilea Pharmaceutica International Ltd., and used under
license.
Esmocard® and Esmocard Lyo® are trademarks
owned by Orpha-Devel Handels und Vertriebs GmbH, and used under
license.
Trevyent® is a trademark of SteadyMed Ltd. and used
under license.
All other trademarks are the property of their respective
owners.
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SOURCE Correvio Pharma Corp