Intercept Pharmaceuticals Appoints Daniel Regan as Chief Commercial Officer
NEW YORK, March 4, 2013 (GLOBE NEWSWIRE) -- Intercept Pharmaceuticals, Inc.
(Nasdaq:ICPT) (Intercept), a clinical stage biopharmaceutical company focused
on the development and commercialization of novel bile acid therapeutics to
treat chronic liver diseases, today announced the appointment of Daniel P.
Regan to the newly created position of Chief Commercial Officer. Mr. Regan is
a seasoned commercial executive bringing more than 20 years of pharmaceutical
and biotechnology industry experience to the company.
Mr. Regan joins Intercept from Inspiration Biopharmaceuticals where he served
as Chief Commercial Officer. Prior to Inspiration, he held positions of
increasing responsibility over a 12 year tenure at Genzyme Corporation where
he led multi-functional teams in sales, marketing and commercialization, and
launched several new products into both established and smaller emerging
markets. In his last position, Mr. Regan served as General Manager, Senior
Vice President of the U.S. Personalized Genetic Health business, where he was
responsible for the U.S. rare disease franchise. Previously, Mr. Regan was the
global General Manager, Senior Vice President of the Renal franchise at
Genzyme, where he was responsible for the launch of Renagel and Renvela in the
U.S. and internationally, as well as for the continued development and
expansion of the Hectorol franchise. In addition to his domestic experience,
Mr. Regan has worked extensively in the European, Latin American and Asia
Pacific markets. Prior to Genzyme, he held sales and marketing positions at
Janssen Pharmaceutica, a pharmaceutical division of Johnson & Johnson.
"Dan is a proven business leader with invaluable experience in commercial
strategy, marketing and general management," commented Mark Pruzanski M.D.,
President and CEO of Intercept. "His knowledge of the evolving U.S. and
European markets and his success in the global commercialization of novel
therapeutics for rare orphan and more prevalent specialty indications will
serve us well as we prepare for the anticipated approval and launch of OCA."
"I am thrilled to be joining Intercept as it evolves from a development stage
company to a fully integrated commercial organization," added Mr. Regan. "I
look forward to working with the team to continue building on its track record
of accomplishments and bring innovative therapies to patients in need."
Intercept Pharmaceuticals, Inc. is a biopharmaceutical company focused on the
development and commercialization of novel therapeutics to treat orphan and
more prevalent liver diseases utilizing its expertise in bile acid chemistry.
The company's lead product candidate, obeticholic acid (OCA) is a bile acid
analog and first-in-class agonist of the farnesoid X receptor (FXR). OCA is
initially being developed for the second line treatment of primary biliary
cirrhosis (PBC) in patients with an inadequate response to, or who are unable
to tolerate, ursodiol, the only approved therapy for this indication. OCA has
received orphan drug designation in both the United States and Europe for the
treatment of PBC. Intercept owns worldwide rights to OCA outside of Japan and
China, where it has out-licensed the product candidate to DSP. For more
information about Intercept, please visit the Company's website at:
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, including statements
regarding Intercept's plans to develop, seek regulatory approvals for and
commercialize OCA, and Intercept's strategic directives under the caption
"About Intercept." These "forward-looking statements" are based on
management's current expectations of future events and are subject to a number
of risks and uncertainties that could cause actual results to differ
materially and adversely from those set forth in or implied by such
forward-looking statements. These risks and uncertainties include, but are not
limited to: the success and timing of Intercept's preclinical studies and
clinical trials; Intercept's ability to obtain and maintain regulatory
approval of OCA and any other product candidates it may develop, and the
labeling under any approval it may obtain; regulatory developments in the
United States and other countries; the performance of third-party
manufacturers; Intercept's plans to develop and commercialize its product
candidates; Intercept's ability to obtain and maintain intellectual property
protection for its product candidates; the successful development of
Intercept's sales and marketing capabilities; the potential markets for
Intercept's product candidates and its ability to serve those markets; the
rate and degree of market acceptance of any future products; the success of
competing drugs that are or become available; the loss of key scientific or
management personnel; Intercept's ability to obtain additional financing; the
accuracy of Intercept's estimates regarding expenses, future revenues and
capital requirements; and other factors discussed under the heading "Risk
Factors" contained in Intercept's quarterly report on Form 10-Q filed with the
Securities and Exchange Commission on November 26, 2012, as well as any
updates to these risk factors filed from time to time in Intercept's other
filings with the Securities and Exchange Commission. All information in this
press release is as of the date of the release, and Intercept undertakes no
duty to update this information unless required by law.
For more information about Intercept, please contact Mark Pruzanski, M.D., or
Barbara Duncan, both of Intercept Pharmaceuticals, at 1-646-747-1000.
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