Egalet Appoints Stan Musial as CFO
MALVERN, Pa., May 8, 2013
MALVERN, Pa., May 8, 2013 /PRNewswire/ --Egalet Ltd., a privately held
specialty pharmaceutical company focused on developing safe, effective and
abuse-deterrent medications, announced today the appointment of Stan Musial as
chief financial officer (CFO).
"The addition of Stan to the management team comes at a critical time as the
most advanced products in Egalet's pipeline of abuse-deterrent opioids are
nearing phase 3," said Bob Radie, president and CEO. "Stan's finance
experience will be invaluable as we move our pipeline through development and
ultimately to the commercial market."
Stan has held senior financial management positions for both publicly-held and
privately-held companies, becoming experienced in executing growth strategies,
raising capital, and mergers and acquisitions. Stan most recently spent six
years as vice president of finance and administration, chief financial
officer, treasurer and secretary of Prism Pharmaceuticals, a specialty
pharmaceutical company, which was successfully sold to Baxter Healthcare in
2011. Prior to joining Prism he held the position of vice president, finance,
and CFO for Strategic Diagnostics, Inc. (SDIX), a publicly-held biotechnology
company. He began his career with KPMG LLP. Stan holds an MBA in finance
from Temple University and a B.S. degree in accounting from Pennsylvania State
University and is a Certified Public Accountant.
"I am excited to join Egalet—a company seeking to advance its pipeline of
abuse deterrent opioids by taking advantage of the expedited 505(b)(2)
regulatory pathway to address the growing need for safe pain medicines," said
About Egalet Ltd.
Egalet Ltd. is a European-based specialty pharmaceutical company using its
patented technology to produce novel therapeutics on its own and with
partners. Based on the proprietary technology, Egalet is developing a
pipeline of abuse-deterrent opioids that are nearing pivotal testing. In
addition, Egalet has collaborations with pharmaceutical and biotechnology
companies in the initial phase of clinical testing.
Egalet has pioneered one of the world's first erosion-based delivery
technologies to enable the controlled release of drugs through gradual erosion
of a tablet. In addition, the Egalet® technology, a novel, patented drug
delivery platform, is designed to prevent easy extraction and to deter the
abuse of medications via known routes of abuse, including chewing, snorting,
and injecting. The uniquely shaped, patient-friendly tablet consists of
matrix and can add a shell or coat. By altering the composition of the shell
and matrix, a variety of extended-release formulations can be produced. The
technology offers a predictable and tailored pharmacokinetic profile, lacks a
significant food effect and alcohol dose dumping, and can be used with a broad
range of opioids and non-opioids. Egalet has an extensive portfolio of both
filed patents and patent applications to protect its inventions covering both
the platform technology and specific products. Please visit www.egalet.com
for more information.
E. Blair Schoeb
SOURCE Egalet Ltd.
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