Corcept Therapeutics Appoints Daniel M. Bradbury to Board of
MENLO PARK, CA -- (Marketwire) -- 10/15/12 -- Corcept Therapeutics
Incorporated (NASDAQ: CORT), a pharmaceutical company engaged in the
discovery, development and commercialization of drugs for the
treatment of severe metabolic and psychiatric disorders, announced
today that Daniel M. Bradbury has been appointed to the Company's
Board of Directors.
"We are pleased that Dan has joined our Board," said Joseph K.
Belanoff, M.D., Corcept's Chief Executive Officer. "His long
experience with every aspect of the biotech industry, from drug
discovery through approval and product launch, will be invaluable as
we commercialize Korlym(TM) for Cushing's syndrome, continue our
Phase 3 trial of mifepristone for the treatment of the psychotic
features of psychotic depression and pursue development of our
next-generation GR-II antagonists."
Mr. Bradbury's career in the biotechnology and pharmaceutical
industry spans 30 years. He served as Chief Executive Officer of
Amylin Pharmaceuticals, Inc. from March 2007 until its acquisition by
Bristol-Myers Squibb Company in August 2012. From June 2006 until
August 2012 he was a member of Amylin's board of directors and served
on its Finance and Risk Management Committee. Mr. Bradbury also
served as Amylin's President (2006-2007), Chief Operating Officer
(2003-2006) and Executive Vice President (2000-2003). From 1994-2003
he held a variety of sales and marketing positions at the company.
Before joining Amylin, Mr. Bradbury worked in marketing and sales
roles for ten years at SmithKline Beecham Pharmaceuticals. He also
serves on the board of directors of Illumina, Inc., Geron Corporation
and Castle Biosciences, Inc., the board of trustees of the Keck
Graduate Institute, the Investor Growth Capital Advisory Board, and
the BioMed Ventures Advisory Committee.
Mr. Bradbury currently serves on the University of California San
Diego's Rady School of Management's Advisory Council, the RAND Health
Board of Advisors and the University of Miami's Innovation Corporate
Advisory Council. He received a Bachelor of Pharmacy from Nottingham
University and a Diploma in Management Studies from Harrow and Ealing
Colleges of Higher Education in the United Kingdom.
his is an exciting time for Corcept," said Mr. Bradbury. "Its
platform of cortisol receptor antagonists, of which I believe Korlym
for endogenous Cushing's syndrome is just the first, could generate
treatments for many severe illnesses." He added, "I look forward to
helping bring those medicines to patients."
About Cushing's Syndrome
Endogenous Cushing's syndrome is caused by prolonged exposure of the
body's tissues to high levels of the hormone cortisol and is
generated by tumors that produce cortisol or ACTH. Cushing's syndrome
is an orphan indication that most commonly affects adults aged 20 to
50. An estimated 10 to 15 of every one million people are newly
diagnosed with this syndrome each year, resulting in over 3,000 new
patients annually in the United States. An estimated 20,000 patients
in the United States have Cushing's syndrome. Symptoms vary, but most
people have one or more of the following manifestations: high blood
sugar, diabetes, high blood pressure, upper body obesity, rounded
face, increased fat around the neck, thinning arms and legs, severe
fatigue and weak muscles. Irritability, anxiety, cognitive
disturbances and depression are also common. Cushing's syndrome can
affect every organ system in the body and can be lethal if not
About Korlym(TM) (mifepristone) 300 mg Tablets
Korlym blocks the glucocorticoid receptor type II (GR-II) to which
cortisol normally binds, thereby inhibiting the effects of excess
cortisol in Cushing's syndrome patients. In April 2012, Corcept made
Korlym available as a once-daily oral treatment of hyperglycemia
secondary to endogenous Cushing's syndrome in adult patients with
glucose intolerance or diabetes mellitus type 2 who have failed
surgery or are not candidates for surgery. Korlym is the first and
only FDA-approved treatment for that illness and the FDA has
designated it as an Orphan Drug for that indication. Orphan Drug
designation is a special status designed to encourage the development
of medicines for rare diseases and conditions. Because Korlym is an
Orphan Drug, Corcept will have marketing exclusivity for the approved
indication in the United States until February 2019.
About Psychotic Depression
Psychotic depression is a serious psychiatric disorder that affects
approximately three million people annually in the United States. It
is more prevalent than either schizophrenia or bipolar I disorder.
he disorder is characterized by severe depression accompanied by
delusions, hallucinations or both. People with psychotic depression
are approximately 70 times more likely to commit suicide than the
general population and often require lengthy and expensive hospital
stays. There is no FDA-approved treatment for psychotic depression.
About Corcept Therapeutics Incorporated
Corcept is a pharmaceutical company engaged in the discovery,
development and commercialization of drugs for the treatment of
severe metabolic and psychiatric disorders. Korlym, a first
generation GR-II antagonist, is the company's first FDA-approved
medication. The company owns extensive intellectual property covering
the use of GR-II antagonists, including mifepristone, in the
treatment of a wide variety of metabolic and psychiatric disorders.
It also holds composition of matter patents for its selective GR-II
Statements made in this news release, other than statements of
historical fact, are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements are
subject to a number of known and unknown risks and uncertainties that
might cause results to differ materially from those expressed or
implied by such statements. For example, there can be no assurances
regarding the amount of Corcept's revenues from Korlym or any other
source, Korlym's acceptance by physicians and patients, the
reimbursement decisions of government or private insurances, the
FDA's response to any of the company's future submissions, the
effects of rapid technological change and competition, the
protections afforded by Corcept's intellectual property rights, or
the cost, pace and success of Corcept's commercialization of Korlym
for Cushing's syndrome or the company's product development efforts.
These and other risks are set forth in the company's SEC filings, all
of which are available from the company's website
(http://www.corcept.com) or from the SEC's website
(http://www.sec.gov). Corcept disclaims any duty to update any
forward-looking statement made in this news release.
Chief Financial Officer
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