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8-K - FORM 8-K - Pernix Sleep, Inc. | c99194e8vk.htm |
EX-10.1 - EXHIBIT 10.1 - Pernix Sleep, Inc. | c99194exv10w1.htm |
Exhibit 99.1
SOMAXON PHARMACEUTICALS APPOINTS
CHIEF FINANCIAL OFFICER AND ANNOUNCES
SENIOR LEADERSHIP PROMOTIONS
CHIEF FINANCIAL OFFICER AND ANNOUNCES
SENIOR LEADERSHIP PROMOTIONS
SAN
DIEGO, CA April 12, 2010 Somaxon Pharmaceuticals, Inc. (Nasdaq: SOMX), a specialty
pharmaceutical company focused on the in-licensing, development and commercialization of
proprietary branded pharmaceutical products and late-stage product candidates for the treatment of
diseases and disorders in the central nervous system therapeutic area, today announced the
appointment of Tran B. Nguyen as Vice President and Chief Financial Officer. The company also
announced other executive management team updates.
Trans finance experience in the life science industry makes him an excellent addition to the
Somaxon team, said Richard W. Pascoe, Somaxons President and Chief Executive Officer. Trans
hiring rounds out our senior management team, and enhances our ability to execute on our corporate
strategy by focusing on our key objectives of establishing a U.S. commercial partnership, building
a U.S. commercial presence and preparing to launch Silenor in the second half of 2010.
Mr. Nguyen brings to Somaxon over 10 years of finance experience primarily focused in the life
science industry. Mr. Nguyen was most recently Chief Financial Officer of Metabasis Therapeutics,
Inc., a publicly traded biopharmaceutical company that was acquired by Ligand Pharmaceuticals
Incorporated in January 2010. Prior to Metabasis, Mr. Nguyen was a Vice President in the
healthcare investment banking groups at Citi Global Markets, Inc. and Lehman Brothers, Inc. where
he successfully executed numerous capital raising and strategic transactions for life science
clients.
Central to the execution of Somaxons strategy is an executive leadership team capable of driving
the company toward its long-term financial and strategic goals. To that end, Somaxon also
announced the following management updates, each effective April 1, 2010:
| Jeffrey Raser was promoted to the newly created role of Senior Vice President and Chief Commercial Officer. In this role, Mr. Raser will be responsible for all of Somaxons sales, marketing, managed care and other commercial operations. |
| Brian Dorsey was promoted to Senior Vice President, Technical Operations. In this role, Mr. Dorsey will manage all of Somaxons activities relating to research and development, regulatory affairs, medical affairs, manufacturing and quality. | |
| Matthew Onaitis was promoted to Senior Vice President and General Counsel. In this role, Mr. Onaitis will manage all of Somaxons legal, compliance, intellectual property and business development activities. |
About Somaxon Pharmaceuticals, Inc.
Headquartered in San Diego, CA, Somaxon Pharmaceuticals, Inc. is a specialty pharmaceutical company
focused on the in-licensing, development and commercialization of proprietary branded
pharmaceutical products and late-stage product candidates for the treatment of diseases and
disorders in the central nervous system therapeutic area. Somaxons product Silenor®
(doxepin) has been approved by the FDA for the treatment of insomnia characterized by difficulty
with sleep maintenance.
For more information, please visit the companys web site at www.somaxon.com.
Somaxon cautions readers that statements included in this press release that are not a description
of historical facts are forward-looking statements. For example, statements regarding the
potential commercialization of Silenor and the potential to establish a commercial partnership or
other strategic transaction are forward-looking statements. The inclusion of forward-looking
statements should not be regarded as a representation by Somaxon that any of its plans will be
achieved. Actual results may differ materially from those set forth in this release due to the
risks and uncertainties inherent in Somaxons business, including, without limitation, Somaxons
ability to successfully commercialize Silenor; the potential to enter into and the terms of any
commercial partnership or other strategic transaction relating to Silenor; the scope, validity and
duration of patent protection and other intellectual property rights for Silenor; whether the
approved label for Silenor is sufficiently consistent with such patent protection to provide
exclusivity for Silenor; Somaxons ability to operate its business without infringing the
intellectual property rights of others; the market potential for insomnia treatments, and Somaxons
ability to compete within that market; inadequate therapeutic efficacy or unexpected adverse side
effects relating to Silenor that could delay or prevent commercialization, or that could result in
recalls or product liability claims; the ability of Somaxon to ensure adequate and continued supply
of Silenor to successfully launch commercial sales or meet anticipated market demand; other
difficulties or delays in development, testing, manufacturing and marketing of Silenor; the timing
and results of non-clinical studies and post-approval regulatory requirements for Silenor, and the
FDAs agreement with Somaxons interpretation of such results; Somaxons ability to raise
sufficient capital and meet its obligations to parties under financing agreements, and the impact
of any such financing activity on the level of Somaxons stock price; the impact of any inability
to raise sufficient capital to fund ongoing or planned operations; and other risks detailed in
Somaxons prior press releases as well as in its periodic filings with the Securities and Exchange
Commission.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak
only as of the date hereof. All forward-looking statements are qualified in their entirety by this
cautionary statement, and Somaxon undertakes no obligation to revise or update this press release
to reflect events or circumstances after the date hereof. This caution is made under the safe
harbor provisions of Section 21E of the Securities Exchange Act of 1934.
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Contact:
|
Rob Whetstone | |
PondelWilkinson, Inc. | ||
(310) 279-5963 |
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