Breaking News

Tweet TWEET

Radius Announces Leadership Transitions With Focus on Late-Stage Growth

Radius Announces Leadership Transitions With Focus on Late-Stage Growth 
Andrew Fromkin Joins as New President and Chief Executive Officer 
Michael Metzger to Join as New Executive Vice President and Chief
Business Officer 
CAMBRIDGE, MA -- (Marketwired) -- 11/14/13 --  Radius Health, Inc.
("Radius") today announced the transition of the President and Chief
Executive Officer role and the appointment of two well-known industry
leaders to drive corporate growth, strategy and transactions as the
company's novel osteoporosis programs advance in the clinic, with
pivotal results expected in the fourth quarter of 2014.  
Andrew J. Fromkin has been named President and Chief Executive
Officer and a member of the Board of Directors. He joins Radius after
serving as Chief Executive Officer of Clinical Data, Inc. In
addition, Michael A. Metzger has agreed to join Radius as Executive
Vice President and Chief Business Officer. Mr. Metzger most recently
held the position of Executive Vice President and Chief Operating
Officer at Mersana Therapeutics, Inc. Mike Wyzga resigned as
President and Chief Executive Officer, but will remain with the
company as an advisor for a transition period. 
Mr. Fromkin brings to Radius 25 years of leadership experience in the
healthcare industry. He was President and Chief Executive Officer of
Clinical Data, Inc. from May 2006 to May 2011, where he led the
transformation of Clinical Data, Inc. from a $100 million market cap
company in the personalized diagnostics space into a mature
biopharmaceutical company with late-stage differentiated products. In
January 2011, the company received first pass approval from the FDA
for Viibryd, a novel treatment for Major Depressive Disorder. In
April 2011, the company was acquired by Forest Laboratories for $1.2
billion in cash.  
"We are very pleased to have Drew lead Radius into this next exciting
phase of growth and advance the progress made under Mike Wyzga's
leadership," stated Kurt Graves, Chairman of the Radius Board of
Directors. "Drew has demonstrated an ability to create tremendous
value for patients, providers, payers and shareholders alike, and his
understanding of the life sciences industry and broader healthcare
and payer arenas will serve the company very well. Drew joins at an
exciting t
ime, when we have a highly differentiated program finishing
up a Phase 3 clinical trial in osteoporosis and two Phase 2-stage
assets that have already achieved clinical proof of concept in
osteoporosis and other high unmet need indications. Each of the three
programs is poised to advance toward key value inflection points and
potential collaboration transactions. We are confident that Drew's
impressive and proven leadership as a public company CEO will allow
Radius to maximize the value of BA058 and advance the development of
Radius' innovative osteoporosis and women's health products." 
"I am honored to lead Radius at such a pivotal juncture for the
company," stated Mr. Fromkin. "It is an exceptional opportunity to
join a biopharmaceutical company that owns and is developing multiple
late-stage assets that each address areas of serious unmet medical
need. BA058-SC has demonstrated early bone-building potential at the
spine and non-vertebral sites, including the hip, along with a
favorable safety profile. Its novel mechanism of action and potential
multiple modes of administration -- including one that is
injection-free -- make BA058 an attractive drug with a specialist
call point and long patent life. We have a special opportunity to
bring a potential best-in-disease drug to osteoporosis patients who
are in dire need of new and effective medicines." 
Mr. Fromkin succeeds Mr. Wyzga, a recognized industry leader who
joined Radius as President and Chief Executive Office in 2011 after
serving as Executive Vice President, Finance and Chief Financial
Officer of Genzyme.  
Michael Metzger will join Radius as Executive Vice President and
Chief Business Officer. Mr. Metzger has nearly 20 years of experience
within the life sciences and pharmaceutical industries. Most recently
at Mersana, he drove the establishment and management of key
alliances and helped to architect the strategic direction, financing
and growth of the business. Prior to joining Mersana in 2011, Mr.
Metzger held senior positions within business development and led
mergers and acquisitions at Forest Laboratories, Inc., where he
completed transactions with numerous specialty pharmaceutical and
biotechnology companies. 
"We are also very pleased that Michael is joining Radius," stated
Kurt Graves. "Michael and Drew know each other very well from past
collaborations, and Michael brings a wealth of pharmaceutical and
biotechnology sector experience and knowledge to the team. He has
operational and management expertise as well as a history of creating
value through transactions. This perspective will be invaluable to
optimally positioning Radius to build momentum and collaborations
around our exciting pipeline." 
About Radius Health
 Radius Health is a biopharmaceutical company
focused on developing novel, differentiated therapeutics for the
treatment of osteoporosis and other women's health conditions. The
company's lead product candidate, BA058, is a novel synthetic peptide
analog of PTHrP (human parathyroid hormone-related protein, a
naturally occurring bone-building hormone) in development in both
injection (BA058-SC) and transdermal (BA058-TD) methods of
administration to reduce the risk of complications associated with
osteoporosis, such as fracture. Radius and 3M Drug Delivery Systems
are collaborating on the development and commercial supply of
BA058-TD. Radius is also developing its novel Selective Estrogen
Receptor Modulator (SERM) for postmenopausal hot flashes and other
specialized indications that have significant unmet needs. 
Safe Harbor for Forward-Looking Statements
 Any statements made in
this press release relating to future financial or business
performance, conditions, plans, prospects, trends, or strategies and
other financial and business matters, including without limitation,
the prospects or potential for BA058-SC, BA058-TD and other product
candidates, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. In addition, when
or if used in this press release, the words "may," "could," "should,"
"anticipate," "believe," "estimate," "expect," "intend," "plan,"
"predict" and similar expressions and their variants, as they relate
to Radius or its management, may identify forward-looking statements.
Radius cautions that these forward-looking statements are subject to
numerous assumptions, risks, and uncertainties, which change over
time. Important factors that may cause actual results to differ
materially from the results discussed in the forward-looking
statements or historical experience include risks and uncertainties,
including the failure by Radius to secure and maintain relationships
with collaborators; risks relating to clinical trials; risks relating
to the commercialization, if any, of Radius' proposed product
candidates (such as marketing, regulatory, patent, product liability,
supply, competition, and other risks); dependence on the efforts of
third parties; dependence on intellectual property; and risks that
Radius may lack the financial resources and access to capital to fund
our operations. Further information on the factors and risks that
could affect Radius' business, financial condition and results of
operations are contained in Radius' fi
lings with the U.S. Securities
and Exchange Commission, which are available at www.sec.gov. The
forward-looking statements represent Radius' estimate as of the date
hereof only, and Radius specifically disclaims any duty or obligation
to update forward-looking statements. 
Contact
Nick Harvey
Chief Financial Officer
617-551-4700 
 
 
Press spacebar to pause and continue. Press esc to stop.