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Furiex Pharmaceuticals Announces Management Changes



  Furiex Pharmaceuticals Announces Management Changes

Business Wire

MORRISVILLE, N.C. -- October 28, 2013

Furiex Pharmaceuticals, Inc. (NASDAQ:FURX) announced today the appointment of
Sailash Patel to the position of Chief Financial Officer, effective November
15, 2013. Mr. Patel replaces Mr. Marshall Woodworth, who tendered his
resignation to pursue other opportunities, but will remain with the company to
assist during a transition period.

“Mr. Patel has an impressive track record in the biotech and pharmaceutical
industry and brings a unique set of talents to the Chief Financial Officer
role as we continue to progress our product portfolio,” said June Almenoff,
M.D., Ph.D., president and chief medical officer of Furiex. “In his prior
roles, Sailash has proven himself as a key member of leadership teams, driving
financial strategy and deal making.”

“We are pleased that Mr. Woodworth will be available to assist the company
during the transition. We wish to thank him for his contributions to Furiex
during his time with us and wish him well in his future endeavors,” continued
Dr. Almenoff.

Mr. Patel has been with Furiex since its spin-off from PPD LLC, and currently
serves as Vice President of Strategic Development, overseeing corporate
development, investor relations and strategic planning functions. Previously,
Mr. Patel served as Vice President of Strategic Development for PPD, where he
ran corporate strategy development and was responsible for the execution of
the company’s acquisitions and licensing activities. He holds a master's
degree in business administration from the University of North Carolina at
Chapel Hill and a bachelor's degree in pharmacy with honors from University of
Nottingham in the U.K.

“Sailash has been instrumental in constructing Furiex’s portfolio and the
company’s successful spin-off from PPD,” said Fred Eshelman, Pharm.D.,
chairman of Furiex. “His broad-based experience as a finance professional and
operational management gives him a solid platform to continue the company’s
focus on managing its finances and driving shareholder value.”

About Furiex Pharmaceuticals

Furiex Pharmaceuticals is a drug development collaboration company that uses
innovative clinical development design to accelerate and increase value of
drug development programs by advancing them through the drug discovery and
development process in a cost-efficient manner. Our drug development programs
are designed and driven by a core team with extensive drug development
experience. The company collaborates with pharmaceutical and biotechnology
companies and has a diversified product portfolio and pipeline with multiple
therapeutic candidates, including one Phase III-ready asset, two compounds in
Phase III development, one of which is with a partner, and four products on
the market. The company's mission is to develop innovative medicines faster
and at a lower cost, thereby improving profitability and accelerating time to
market while providing life-improving therapies for patients. For more
information, visit www.furiex.com.

Except for historical information, all of the statements, expectations and
assumptions contained in this news release are forward-looking statements that
involve a number of risks and uncertainties. Although Furiex attempts to be
accurate in making these forward-looking statements, it is possible that
future circumstances might differ from the assumptions on which such
statements are based. In addition, other important factors which could cause
actual results to differ materially include the following: reliance on key
personnel, including Mr. Patel in his expanded role; continuing losses and our
potential need for additional financing; the risk that eluxadoline will fail
in Phase III clinical trials; our reliance on our collaborators and the risk
that revenues from royalties and milestone payments differ from expectations;
our need to find a collaborator for our late-stage compounds or incur the
expense and risk of commercializing them ourselves; changes in the safety and
efficacy profile of our existing compounds as they progress through research
and development; potential changes to regulatory guidance by regulatory
agencies such as the U.S. Food and Drug Administration and the European
Medicines Agency; the terms of new collaborative agreements that we might
enter into in the future; the costs of defending any patent opposition or
litigation necessary to protect our proprietary technologies; and the other
risk factors set forth from time to time in the SEC filings for Furiex, copies
of which can be found on our website.

Contact:

Furiex Pharmaceuticals, Inc.
Media/Analysts/Investors:
Sailash Patel, 919-456-7814
sailash.patel@furiex.com
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