Iterum Therapeutics plc (Nasdaq: ITRM) (the “Company” or “Iterum”),
a clinical-stage pharmaceutical company focused on developing next
generation oral and IV antibiotics to treat infections caused by
multi-drug resistant pathogens in both community and hospital
settings, today announced the appointment of Beth P. Hecht to
the Company’s Board of Directors replacing Patrick Heron, who
announced he would be leaving the Board, effective as of March 12,
2021. Ms. Hecht will also serve as a member of the Audit Committee
and Compensation Committee of the Board.
“I want to thank Patrick for his leadership and
steadfast support of Iterum since our founding in 2015. As the
representative of one of Iterum’s founding venture capital firms,
Patrick’s insights and experiences were invaluable in helping us
build the solid foundation we now have,” said Corey Fishman,
Iterum’s Chief Executive Officer.
Mr. Fishman continued, “I am very pleased to
welcome Beth to the board at this important time for Iterum. Beth
brings a wealth of extensive experiences from across the industry,
and an in-depth understanding of commercial operations, regulatory,
legal and compliance matters, as well as transactional experience
that complements the expertise of our current board colleagues,”
said Corey Fishman, Chief Executive Officer of Iterum Therapeutics
plc. “As Iterum transitions from a development company to a
commercial organization, we are looking forward to leveraging
Beth’s diverse pharmaceutical experiences and collaborating with us
to shape our strategic plans and advance our vision.”
“It’s an exciting time to join the Board of
Iterum, and I’m looking forward to partnering with Iterum’s
leadership as they work toward a bringing the first branded oral
antibiotic for the treatment of uncomplicated urinary tract
infections to the market in over 20 years, addressing a very
important women’s health issue,” said Beth Hecht.
Ms. Hecht currently serves as Senior Vice
President, General Counsel and Corporate Secretary of Xeris
Pharmaceuticals, Inc. (NASDAQ: XERS). She has over 25 years of
experience as a corporate executive in the life science industry,
most recently serving as Managing Director and Chief Legal and
Administrative Officer for Auven Therapeutics, a global
biotechnology and pharmaceutical private equity firm. Ms. Hecht is
also a member of the Board of Directors of Neos Therapeutics
(Nasdaq: NEOS) where she chairs the Nominating and Governance
Committee. Ms. Hecht is a graduate of Amherst College
and Harvard Law School and started her career as an attorney
specializing in intellectual property and corporate transactions at
Willkie Farr & Gallagher (NY) and then Kirkland & Ellis
(NY). She has established and led legal, compliance, licensing,
human resources, and security departments at companies including
Durata Therapeutics, Sun Products, MedPointe Inc. (formerly known
as Carter-Wallace Inc.), Warner Chilcott PLC, ChiRex Ltd., and
Alpharma Inc.
About Iterum Therapeutics
plc
Iterum Therapeutics plc is a clinical-stage
pharmaceutical company dedicated to developing differentiated
anti-infectives aimed at combatting the global crisis of multi-drug
resistant pathogens to significantly improve the lives of people
affected by serious and life-threatening diseases around the world.
Iterum Therapeutics is advancing its first compound, sulopenem, a
novel penem anti-infective compound, in Phase 3 clinical
development with oral and IV formulations. Sulopenem has
demonstrated potent in vitro activity against a wide
variety of gram-negative, gram-positive and anaerobic bacteria
resistant to other antibiotics. Iterum Therapeutics has received
Qualified Infectious Disease Product (QIDP) and Fast Track
designations for its oral and IV formulations of sulopenem in seven
indications. For more information, please
visit http://www.iterumtx.com.
Forward Looking Statements
This press release contains forward-looking
statements. These forward-looking statements include, without
limitation, statements regarding the Company’s plans, strategies
and prospects for its business, including with respect to the
timing of review by the U.S. Food and Drug Administration of the
new drug application for oral sulopenem and the Company’s
expectations for potential approval on the Prescription Drug User
Fee Act (PDUFA) date, the market potential for sulopenem,
commercialization activities, and the sufficiency of the Company’s
cash resources to execute its strategy. In some cases,
forward-looking statements can be identified by words such as
“may,” “believes,” “intends,” “seeks,” “anticipates,” “plans,”
“estimates,” “expects,” “should,” “assumes,” “continues,” “could,”
“would,” “will,” “future,” “potential” or the negative of these or
similar terms and phrases. Forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause
the Company’s actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Forward-looking statements include all matters that are
not historical facts. Actual future results may be materially
different from what is expected due to factors largely outside the
Company’s control, including the uncertainties inherent in the
initiation and conduct of clinical trials, availability and timing
of data from clinical trials, changes in regulatory requirements or
decisions of regulatory authorities, the timing or likelihood of
regulatory filings and approvals, changes in public policy or
legislation, commercialization plans and timelines, if oral
sulopenem is approved, the actions of third-party clinical research
organizations, suppliers and manufacturers, the accuracy of the
Company’s expectations regarding how far into the future the
Company’s cash on hand will fund the Company’s ongoing operations,
the impact of COVID-19 and related responsive measures thereto,
risks and uncertainties concerning the outcome, impact, effects and
results of the Company’s evaluation of corporate, strategic,
financial and financing alternatives, including the terms, timing,
structure, value, benefits and costs of any corporate, strategic,
financial or financing alternative and the Company’s ability to
complete one at all and other factors discussed under the caption
“Risk Factors” in its Annual Report on Form 10- K filed with the
Securities and Exchange Commission (the “SEC”) on March 12, 2021,
and other documents filed with the SEC from time to time.
Forward-looking statements represent the Company’s beliefs and
assumptions only as of the date of this press release. Except as
required by law, the Company assumes no obligation to update these
forward-looking statements publicly, or to update the reasons
actual results could differ materially from those anticipated in
the forward-looking statements, even if new information becomes
available in the future.
Investor Contact:Judy
MatthewsChief Financial Officer312-778-6073IR@iterumtx.com
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