Jonathan B. Lloyd Jones Appointed CFO of Columbia Laboratories
Columbia to Relocate Corporate Headquarters to Boston Area
LIVINGSTON, N.J. -- January 16, 2013
Columbia Laboratories Inc. (Nasdaq: CBRX) today announced the appointment of
Jonathan B. Lloyd Jones, ACA, MBA, as Vice President, Finance, Chief Financial
Officer, Treasurer and Secretary, effective January 21. He will be based at
Columbia’s corporate headquarters, which will be relocated to the area of
Boston, Massachusetts during the first half of 2013.
Mr. Lloyd Jones joins Columbia with over 25 years of corporate development and
finance experience. He has led negotiations, valuation and diligence teams
that developed and executed over $2 billion of biotechnology and
pharmaceutical company mergers and acquisitions, financing and licensing
transactions. Most recently, he served as chief financial officer and vice
president of corporate development at TetraLogic Pharmaceuticals, a venture
capital-funded biotechnology company. From 2006 to 2010, Mr. Lloyd Jones was
vice president of finance at TransMolecular, Inc. During the prior 10 years,
he was employed by Genzyme as a senior director of corporate development.
Earlier in his career Mr. Lloyd Jones headed banking and financial operations
at The Royal Bank of Scotland (Nassau) Ltd., part of the Royal Bank of
Scotland Group. Mr. Lloyd Jones holds an MBA degree from The Wharton School of
the University of Pennsylvania and is a member of the Institute of Chartered
Accountants in England and Wales (ICAEW).
Mr. Lloyd Jones replaces Lawrence A. Gyenes, formerly Columbia’s Chief
Financial Officer, who will remain with the Company through January 31, 2013,
which will also be Michael McGrane’s last day as Columbia’s General Counsel.
Messrs. Gyenes and McGrane will remain available to the Company to ensure a
Frank Condella, Columbia’s President and CEO, said, “I want to thank Larry and
Mike for their many contributions, which have enabled the Company to
successfully transition to a profitable drug delivery company. I speak for the
full Board of Directors in wishing them well.
“I am pleased to welcome Jonathan to the Columbia team. Among his many
talents, Jonathan brings an extremely strong track record of successful
business transactions, which should benefit our ongoing exploration of
potential strategic transactions to build value for our stockholders.
“While there will be some upfront costs associated with these organizational
changes, we expect to have reduced our cost structure when they are completed.
Concurrently, we will continue to efficiently manage the CRINONE^® supply
chain for our partners, Watson and Merck Serono, who continue to generate
strong in-market demand for CRINONE in the U.S. and over 60 countries around
the world, respectively,” Condella concluded.
About Columbia Laboratories
Columbia Laboratories, Inc. is a publicly traded specialty pharmaceutical
company with a successful history of developing proprietary, vaginally
administered products for women’s health indications. The Company receives
sales and royalty revenues from CRINONE^® 8% (progesterone gel), which is
marketed by Watson Pharmaceuticals, Inc. in the United States and by Merck
Serono S.A. in over 60 foreign countries.
Columbia's press releases and other company information are available online
Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995: This communication contains forward-looking statements, which statements
are indicated by the words “may,” “will,” “plans,” “believes,” “expects,”
“intends,” “anticipates,” “potential,” “should,” and similar expressions. Such
forward-looking statements involve known and unknown risks, uncertainties, and
other factors that may cause actual results to differ materially from those
projected in the forward-looking statements. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as
of the date on which they are made. Factors that might cause future results to
differ include, but are not limited to, the following: Watson's and Merck
Serono's success in marketing CRINONE for use in infertility in their
respective markets; successful development by Watson of a next-generation
vaginal progesterone product for the U.S. market; difficulties or delays in
manufacturing; the availability and pricing of third-party sourced products
and materials; successful compliance with FDA and other governmental
regulations applicable to manufacturing facilities, products and/or
businesses; changes in the laws and regulations; the ability to obtain and
enforce patents and other intellectual property rights; the impact of
competitive products and pricing; the evaluation of potential strategic
transactions; Columbia’s ability to timely regain compliance with the Nasdaq
minimum closing bid price rule; the strength of the United States dollar
relative to international currencies, particularly the euro; competitive
economic and regulatory factors in the pharmaceutical and healthcare industry;
general economic conditions; and other risks and uncertainties that may be
detailed, from time-to-time, in Columbia's reports filed with the SEC.
Columbia does not undertake any responsibility to revise or update any
forward-looking statements contained herein.
CRINONE^® is a registered trademark of Watson Pharmaceuticals, Inc.
Columbia Laboratories, Inc.
Lawrence A. Gyenes, 973-486-8860
Senior Vice President, CFO & Treasurer
The Trout Group LLC
Seth Lewis, 646-378-2952
Senior Vice President
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