Aradigm Announces Changes to Its Board of Directors
HAYWARD, Calif. -- September 18, 2013
Aradigm Corporation (OTC BB:ARDM.OB) (“Aradigm” or the “Company”) today
announced changes to its Board of Directors, including the retirement of Frank
Barker and the appointment of Lafmin Morgan and David Bell.
Mr. Barker has been a director of Aradigm since 1999. Mr. Barker’s long
service on Aradigm’s Board gave him substantial knowledge of the Company and
its business, and the Company’s Board and management have benefited enormously
from his wise counsel and industry perspective. Previously, Mr. Barker served
in several positions at Johnson & Johnson, Inc., including as a company group
chairman. This extensive experience gave him superlative skills in leadership,
executive management, global operations and consensus building, which
contributed greatly to his effectiveness as a director of the Company.
“It has been an honor to serve on the Aradigm Board with Frank Barker for more
than a decade, and I want to thank Frank for his dedication and service to
Aradigm,” said Board Chairman, Virgil Thompson.
Mr. Morgan and Mr. Bell are the designees of Grifols, S.A (“Grifols”), and
their appointment is in conjunction with the closing of the transaction
between the Company and Grifols announced on August 28, 2013.
Lafmin Morgan is Corporate Vice President, Global Marketing for Grifols. Mr.
Morgan leads the Global Marketing function for all Grifols Divisions,
Bioscience, Hospital and Diagnostics. He previously served as Grifols North
American Vice President and General Manager for Pulmonary.
Mr. Morgan joined Grifols in 2010. He holds a Bachelors degree in Business
Administration and a Master’s in Business Administration from the University
of North Carolina in Chapel Hill. Prior to Grifols, he spent 20 years at
GlaxoSmithKline in a variety of roles, including Vice President of Respiratory
David Bell is Corporate Vice President of Grifols S.A. and General Counsel of
Grifols Inc. Mr. Bell is responsible for all legal activities of Grifols’ U.S.
Operations. In the U.S., he is also responsible for regulatory, registrations
and licensing, compliance, and governmental and public affairs. Mr. Bell
serves on the Executive Committee of Grifols, S.A.
Prior to joining Grifols in 2003, Mr. Bell was Vice President and General
Counsel for Alpha Therapeutic Corporation and a partner in a law firm where he
specialized in healthcare, pharmaceutical and biotechnology regulation and
liability. Mr. Bell attended the University of California, Southwestern
University School of Law and a postgraduate program at Harvard Law School. Mr.
Bell also serves as a member of the Global Board of Directors for the Plasma
Protein Therapeutics Association.
“Frank Barker has been an outstanding strategic Board member and we are very
grateful for his wise advice to Aradigm over his many years of service. I
would like to extend a warm welcome to Lafmin Morgan and David Bell who are
bringing to the Board valuable commercial experience, especially in
respiratory therapeutics, which will be beneficial to the Pulmaquin® program,”
stated Igor Gonda, President and CEO of Aradigm.
About inhaled ciprofloxacin (Pulmaquin and Lipoquin®)
Ciprofloxacin is a widely prescribed antibiotic to treat infections of the
lung frequently experienced by cystic fibrosis (CF) and non-cystic fibrosis
bronchiectasis (BE) patients. It is often preferred because of its
broad-spectrum anti-bacterial action. The available oral and intravenous
formulations of the drug are used to treat episodes of acute exacerbations of
lung infections. Aradigm’s once-a-day novel inhaled formulations of
ciprofloxacin are encapsulated in liposomes, allowing for a sustained release
of the drug within the lung and improving airway tolerability. The
formulations are to be used for chronic maintenance therapy as they achieve
much higher antibiotic concentration at the site of infection and relatively
low systemic antibiotic concentrations to minimize side-effects. Lipoquin is a
liposomal formulation of ciprofloxacin. Pulmaquin is a dual release
formulation that is a mixture of Lipoquin with unencapsulated ciprofloxacin.
Pulmaquin has been tested extensively in preclinical tests, as well as in the
ORBIT-2 Phase 2b bronchiectasis study in which outstanding antimicrobial
activity coupled with good safety and tolerability was found, and, most
importantly, the positive impact on prevention of exacerbations compared to
placebo was also observed. Pulmaquin is entering Phase 3 clinical trials.
Aradigm has been granted orphan drug designation for liposomal ciprofloxacin
for cystic fibrosis in the U.S. and the E.U., and for the combination of
liposomal ciprofloxacin and free ciprofloxacin for BE in the U.S. Aradigm’s
inhaled ciprofloxacin has been also successfully tested in animal models of
the bioterrorism infections inhalational tularemia, pneumonic plague and
Grifols is a global healthcare company with a 70-year legacy of improving
people’s health and well being through the development of life-saving plasma
medicines, hospital pharmacy products and diagnostic technology for clinical
As a leading producer of plasma medicines, Grifols has a presence in more than
100 countries and is the world leader in plasma collection, with 150 plasma
donation centers across the U.S. Grifols is committed to increasing patient
access to its life-saving plasma medicines through significant manufacturing
expansions and the development of new therapeutic applications of plasma
proteins. The company is headquartered in Barcelona, Spain and employs more
than 12,000 people worldwide.
Grifols is the Global leader in the treatment of Alpha-1 antitrypsin
deficiency – a disease that often leads to emphysema. Grifols has a dedicated
Pulmonary sales force in the United States, Germany, Canada and Spain with
full coverage of COPD prescribers.
In 2012, Grifols’ sales exceeded 2,620 million euros. The company’s class A
shares are listed on the Spanish Stock Exchange, where they are part of the
Ibex-35 (MCE:GRF). Its non-voting class B shares are listed on the Mercado
Continuo (MCE:GRF.P) and on the U.S. NASDAQ via ADRs (NASDAQ: GRFS). For more
information visit www.grifols.com
Aradigm is an emerging specialty pharmaceutical company focused on the
development and commercialization of drugs delivered by inhalation for the
prevention and treatment of severe respiratory diseases. Aradigm has product
candidates addressing the treatment of bronchiectasis, cystic fibrosis,
inhalation tularemia and anthrax infections, and prevention of respiratory and
other diseases in tobacco smokers through smoking cessation.
More information about Aradigm can be found at www.aradigm.com.
Disclaimer and Forward-Looking Statements
The facts and figures contained in this news release which do not refer to
historical data are “projections and forward-looking statements’”. The words
and expressions like “believe”, “hope” “anticipate”, “predict”, “expect”,
“intend”, “should”, “try to achieve”, “estimate”, “future” and similar
expressions, insofar as they are related to Aradigm, Grifols, the prospects
for Aradigm’s inhaled ciprofloxacin product formulations to successfully
complete clinical trials and to result in approved products, and the ability
of Grifols to successfully commercialize these products, are used to identify
projections and forward-looking statements. These expressions with respect to
Aradigm reflect the assumptions, hypothesis, expectations and anticipations of
the management team of Aradigm at the date of preparation of this news
release, which are subject to a number of factors that could make the real
results differ considerably, such as the uncertainties associated with
clinical trials including lack of effectiveness, lack of statistical
significance of results, adverse side effects or other safety issues,
uncertainties regarding the process of obtaining regulatory approval for the
sale of new drugs, uncertainties concerning the development of demand for new
products, uncertainties regarding the level of reimbursement for new products,
manufacturing and supply issues and the like. The future results of Grifols
Group could be affected by events related to its own activity, such as
shortages of raw materials for the manufacture of its products, the launch of
competitive products or changes in the regulations of markets in which it
operates, among others. At the date of the preparation of this news release
Grifols Group has adopted measures it considers necessary to offset the
possible effects of these events. Grifols, S.A. does not assume any obligation
to publicly inform, review or update any projections and forward-looking
statements to adapt them to facts or circumstances following the preparation
of this news release, except as specifically required by law.
Except for the historical information contained herein, this news release
contains forward-looking statements that involve risk and uncertainties,
including the closing of the transaction, as well as the other risks detailed
from time to time in Aradigm's filings with the Securities and Exchange
Commission (SEC), including its Annual Report on Form 10-K for the year ended
December 31, 2012 filed with the SEC on March 27, 2013, and Aradigm’s
Quarterly Reports on Form 10-Q.
Aradigm, Pulmaquin, Lipoquin and the Aradigm Logo are registered trademarks of
Nancy Pecota, 510-265-8800
Aradigm Chief Financial Officer
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