Austin, Texas, Jan. 09, 2017 (GLOBE NEWSWIRE) -- Xeris Pharmaceuticals, Inc., a specialty biopharmaceutical company focused on the development and commercialization of novel formulations of injectable drugs, announced that Mr. Paul R. Edick has been appointed President and Chief Executive Officer and a member of the Board of Directors, effective January 9, 2017. Mr. Edick is a highly accomplished pharmaceutical industry executive who most recently served as CEO of Durata Therapeutics, which he and his team built, took public, and sold to Actavis PLC, now known as Allergan PLC.
"Paul is a leader whose record shows a relentless focus on leadership, execution and high performance, and we are fortunate to have an executive of his caliber to take Xeris forward. Paul’s decades of experience leading companies in the pharmaceutical industry, his vision, and his leadership make him uniquely qualified to lead Xeris at this moment of great opportunity for the company” said Robert C. Faulkner, Member of Xeris’ Board of Directors. “With the support of our talented team, we are confident that Paul will create compelling value and opportunity for employees and shareholders.” He succeeds Mr. Douglas Baum, who is stepping down from his role as President and Chief Executive Officer and will serve as a consultant to the Company.
Mr. Faulkner continued, "We are grateful for Doug’s dedication to Xeris since soon after its founding and look forward to his continued support to ensure a smooth transition through his role as a consultant." Mr. Baum added, “Xeris’ significant opportunities in the near term merit a proven hand at building out companies for commercialization. As a significant shareholder and a believer in the technology, I am gratified to hand this promising company to an executive with such a track record of success.”
Xeris’ lead drug product candidate is G-Pen®, a novel glucagon formulation based on the Company’s proprietary formulation technology Xerisol®, that is delivered through a pre-filled injector to treat hypoglycemia in diabetics. G-Pen is expected to be stable for long periods at room temperature and easy for patients and caregivers to use.
About Paul R. Edick
From July 2010 to November 2014, Mr. Edick served as Chief Executive Officer of Durata Therapeutics Inc., a biopharmaceutical company addressing the growing need for new therapeutics to treat infectious diseases, which was acquired by Actavis plc. in 2014. During Mr. Edick’s tenure at Durata, he assembled a premier team of pharmaceutical and biopharmaceutical executives, guided the company through FDA approval, took the company public, oversaw the launch of the lead product and sold the company to Actavis plc, now known as Allergan plc.
Prior to his tenure at Durata, Mr. Edick was Chairman and Chief Executive Officer of Ganic Pharmaceuticals Inc. from March 2008 to June 2010. Ganic was a vehicle funded by Warburg Pincus to find acquisition opportunities in specialty pharmaceuticals.
From April 2002 to February 2008, Mr. Edick was President, and then Chief Executive Officer, of Medpointe Healthcare Inc., a private equity sponsored, acquisition focused, specialty pharmaceutical company. As CEO, he assembled a premier team of pharmaceutical executives, refocused the strategy, lead the development of a pipeline of products, the restructuring of company debt, built significant value and negotiated sale of the company to Meda AB of Sweden in 2007. Previous experience includes domestic and international roles of increasing responsibility at Pharmacia Corporation, Searle Pharmaceutical Inc., Baxter Healthcare Corporation, and Ortho Pharmaceutical Corp.
Mr. Edick also serves on the Boards of Directors for Iterum Therapeutics Limited, NewLink Genetics Corporation, PDL BioPharma, Inc., Neos Therapeutics and Sucampo Pharmaceuticals, Inc. He earned a bachelor’s degree from Hamilton College.
About Xeris Pharmaceuticals, Inc.
Xeris is an Austin, Texas-based, specialty biopharmaceutical company developing improved and differentiated injectable therapeutics for multiple indications including diabetes. The company's proprietary XeriSol™ and XeriJect™ formulation technologies allow for the subcutaneous and intradermal delivery of highly concentrated, non-aqueous, ready-to-inject formulations of peptides, proteins, antibodies and small molecules using auto-injectors, multi-dose pens and pumps. Xeris' proprietary formulation platforms have the potential to offer distinct advantages over existing products and formulations including: up to 1000-fold lower injection volumes, long term room-temperature stability, elimination of reconstitution and refrigeration, all of which can lead to products that are easier to use by patients, caregivers, health practitioners, and can reduce costs for payers and the healthcare system. For more information please visit the Xeris website at: www.xerispharma.com.
Source:Xeris Pharmaceuticals, Inc.