Pacira Pharmaceuticals, Inc. Announces Appointment of Life Sciences Industry
Veterans Mark Kronenfeld, M.D., and Dennis Winger to its Board of Directors
Company Founders and Venture Investors Fred Middleton and Luke Evnin to Retire
from the Board
PARSIPPANY, N.J. -- September 12, 2013
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) today announced the appointment of
Mark A. Kronenfeld, M.D., and Dennis L. Winger to its Board of Directors.
Pacira also announced today that Luke Evnin, a managing director at MPM
Capital, and Fred Middleton, a general manager at Sanderling Ventures, will be
stepping down from the Board effective September 30, 2013. Upon their
departure, the Board membership will total eight.
“We are excited to welcome Mark and Dennis to the Board,” said Dave Stack,
president, chief executive officer and chairman of Pacira. “With their
combined medical insight and deep expertise in developing and implementing
successful commercial strategies, we are looking forward to working with them
as we continue to execute on our own commercial strategy for EXPAREL® and
enter into the next stage of growth as a company. Additionally, we would like
to recognize Luke and Fred for their innovative vision in forming the company
in 2007 and thank them for their unwavering belief in our proprietary drug
delivery technology and their thoughtful guidance throughout the development
and successful launch of EXPAREL.”
Dr. Kronenfeld was appointed to the board in June 2013. Dr.Kronenfeld is the
vice chairman of anesthesiology at Maimonides Medical Center, a large tertiary
care academic medical center in New York City, since March2009, and has
served as medical director of Perioperative Services for Maimonides Medical
Center since January2011.He is a managing partner of Anesthesia Associates
of Boro Park, a private medical practice, and a managing partner of Strategic
Medical Management Partners. In 2001, Dr.Kronenfeld founded Ridgemark Capital
Management, a healthcare-focused hedge fund that invested in public and
private healthcare and biomedical companies. He served as managing partner and
portfolio manager from April2001 to December2008.Dr.Kronenfeld has founded
and/or managed various consulting and investment companies focused on
healthcare and medical technologies and has served on and chaired multiple
leadership committees for various hospitals and medical centers.Previously,
Dr.Kronenfeld taught and practiced adult and pediatric cardiac anesthesia at
NYU and was chief of cardiac anesthesiology at Hackensack University Medical
Center and president of GMS Anesthesia Associates, a private medical practice.
Dr.Kronenfeld received his M.D. degree and completed his residency in
anesthesiology at the University of California, San Diego School of Medicine,
and completed a fellowship in cardiothoracic anesthesiology at New York
University Medical Center.
Mr. Winger was appointed to the board on September 11, 2013. A proven life
sciences industry executive, Mr. Winger was most recently senior vice
president and chief financial officer of Applera Corporation, a life sciences
company, from September 1997 until his retirement in December 2008.
Previously, he served as senior vice president, finance and administration,
and chief financial officer of Chiron Corporation, a biotechnology company
acquired by Novartis International in 2006. Mr. Winger currently serves as a
director of Accuray Incorporated (NASDAQ: ARAY), a radiation oncology company,
and Nektar Therapeutics (NASDAQ: NKTR), a clinical-stage biopharmaceutical
company. He previously served on the boards of Vertex Pharmaceuticals
Incorporated from 2009 to 2012, Cephalon, Inc. from 2003 to 2011, and Cell
Genesys, Inc. from 2004 to 2009. Mr. Winger also serves on the Board of
Trustees of Siena College. He holds a B.A. in history from Siena College and
an MBA from Columbia University Graduate School of Business.
Pacira Pharmaceuticals, Inc. (NASDAQ: PCRX) is an emerging specialty
pharmaceutical company focused on the clinical and commercial development of
new products that meet the needs of acute care practitioners and their
patients. The company’s current emphasis is the development of non-opioid
products for postsurgical pain control, and its lead product, EXPAREL®
(bupivacaine liposome injectable suspension), was commercially launched in the
United States in April 2012. EXPAREL and two other products have utilized the
Pacira proprietary product delivery technology DepoFoam®, a unique platform
that encapsulates drugs without altering their molecular structure and then
releases them over a desired period of time. Additional information about
Pacira is available at www.pacira.com.
Forward Looking Statements
Any statements in this press release about our future expectations, plans and
prospects, including statements about our plans and expectations regarding
EXPAREL, and other statements containing the words “believes,” “anticipates,”
“plans,” “expects,” and similar expressions, constitute forward-looking
statements within the meaning of The Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from those indicated by such
forward-looking statements as a result of various important factors, including
risks relating to: the success of our sales and manufacturing efforts in
support of the commercialization of EXPAREL; the rate and degree of market
acceptance of EXPAREL; the size and growth of the potential markets for
EXPAREL and our ability to serve those markets; our plans to expand the
indications of EXPAREL to include nerve block, including the timing and
success of an sNDA; our plans to continue to manufacture and provide support
services for our commercial partners who have licensed DepoCyt(e); our
commercialization and marketing capabilities; and other factors discussed in
the “Risk Factors” of our most recent Annual Report on Form 10-K for the
fiscal year ended December 31, 2012, and in other filings that we periodically
make with the SEC. In addition, the forward-looking statements included in
this press release represent our views as of the date of this press release.
We anticipate that subsequent events and developments will cause our views to
change. However, while we may elect to update these forward-looking statements
at some point in the future, we specifically disclaim any obligation to do so.
These forward-looking statements should not be relied upon as representing our
views as of any date subsequent to the date of this press release.
Pacira Pharmaceuticals, Inc.
Jessica Cho, 973-254-3574
Pure Communications, Inc.
Susan Heins, 864-286-9597
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