Apricus Elects Kleanthis G. Xanthopoulos, Ph.D. as New Chairman
SAN DIEGO, Dec. 11, 2013 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc.
("Apricus" or the "Company") (Nasdaq:APRI) (www.apricusbio.com), today
announced that Kleanthis G. Xanthopoulos, Ph.D. has been elected as Chairman
of the Company's Board of Directors. Dr. Xanthopoulos succeeds Mr. Rusty Ray
in the Chairman role.Mr. Ray will continue to serve as a Director and will
assume key roles on the Company's audit, compensation and corporate governance
committees of the Board. Dr. Xanthopoulos has been a member of the Apricus
Board since 2011.
"I am honored to be elected Chairman of the Apricus Board of Directors during
this pivotal point in the Company's evolution," said Dr.
Xanthopoulos."Throughout 2013, Apricus has executed effectively on achieving
its key strategic goals, culminating in important regulatory approvals for
Vitaros^®, a defined regulatory pathway for Femprox^® and the potential for
significant value creation through the licensing and commercialization of
Vitaros^® and Femprox^®.I look forward to working with management and the
Board to strengthen our standing as a leader in the field of men's and women's
health, and to ensure the Company continues its record of execution, with the
goal of maximizing shareholder value."
Dr. Xanthopoulos is an experienced and visionary leader in the biotechnology
and pharmaceutical research industries, with a strong foundation in both
operations and corporate development.He is currently President and Chief
Executive Officer and a member of the board of directors of Regulus
Therapeutics Inc.Prior to joining Regulus Therapeutics Inc. in 2007, Dr.
Xanthopoulos was the Managing Director of Enterprise Partners Venture
Capital.He co-founded Anadys Pharmaceuticals, Inc., served as President and
Chief Executive Officer from 2000 to 2006, and remained a Director until its
acquisition by Roche in 2011.Before that, Dr. Xanthopoulos was Vice President
at Aurora Biosciences (acquired by Vertex Pharmaceuticals) from 1997 to 2000,
and Section Head of the National Human Genome Research Institute from 1995 to
1997.Previously, he was an Associate Professor at the Karolinska Institute,
Stockholm, Sweden, after completing a Postdoctoral Research Fellowship at The
Rockefeller University, New York.
An Onassis Foundation Scholar, Dr. Xanthopoulos received his B.Sc. in Biology
with honors from Aristotle University of Thessaloniki, Greece, and his M.Sc.
degree in Microbiology and Ph.D. degree in Molecular Biology from the
University of Stockholm, Sweden. Dr. Xanthopoulos is a member of the board of
directors of the Biotechnology Industry Organization (BIO) and Zosano Pharma
Inc., and is a co-founder and a member of the board of directors of Sente,
Inc.Additionally, Dr. Xanthopoulos received the Ernst &Young Entrepreneur of
the Year Award in Health Sciences in 2006 and was named Most Admired CEO by
the San Diego Business Journal in 2013.
Vitaros^® has been approved for the treatment of ED by the European health
authorities and by Health Canada. Vitaros^® is a topically-applied cream
formulation of alprostadil, a vasodilator, combined with our proprietary
permeation enhancer DDAIP.HCl, which directly increases blood flow to the
penis, causing an erection.Alprostadil is a widely accepted alternative to
the PDE-5 inhibitors for difficult to treat patients, and Vitaros^®, which was
determined to be safe and effective by the European health authorities and
previously by Health Canada, offers greater market opportunity due to its
patient-friendly form versus other alprostadil dosage forms and also relative
to oral ED products.With nearly 150 million men worldwide who suffer from ED
and an ED market size of approximately $1 billion in revenue in Europe alone,
Vitaros^® represents a major market opportunity for Apricus and its commercial
partners given its unique product profile and its potential to treat a large
Femprox^® is a product candidate for the treatment of female sexual
interest/arousal disorder ("FSIAD"). Seven clinical studies have been
successfully completed to date, including one, 98-subject Phase II study in
the US and a nearly 400-subject proof-of-concept study in China.To date, no
product has been approved in the U.S. to treat FSIAD, a persistent or
recurring inability to attain or maintain adequate sexual excitement, causing
About Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI) is a pharmaceutical company that develops and
markets through its licensing partners, innovative treatments that have the
potential to help large patient populations across numerous, large-market
therapeutic classes including male and female sexual health.The Company has
one approved product, Vitaros^®, for the treatment of erectile dysfunction,
which is now approved in Europe and Canada and will be commercialized by
Apricus' marketing partners, which include Abbott Laboratories Limited, Takeda
Pharmaceuticals International GmbH, Hexal AG (Sandoz), Bracco SpA and
Laboratoires Majorelle.Femprox^®, the Company's product candidate for the
treatment of female sexual interest/arousal disorder, has successfully
completed a nearly 400-subject proof-of-concept study.
For further information on Apricus, visit http://www.apricusbio.com.
CONTACT: Apricus Investor Relations:
David Pitts or Lourdes Catala
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