Apricus Biosciences Expands Senior Management Team, Appointing Neil C. Morton
as Vice President, Business Development
SAN DIEGO, March 20, 2014 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc.
(Nasdaq:APRI), a pharmaceutical company focusing on the development and
commercialization of novel therapeutics for men's and women's health, today
announced the appointment of Neil C. Morton as Vice President of Business
Development. Mr. Morton brings to Apricus a successful track record in
business development in specialty pharmaceuticals, most recently serving as
the Executive Director of Business Development at Auxilium Pharmaceuticals
Inc., where he successfully led their efforts to build a pipeline of men's
health products to include in-licensing of Stendra™ from Vivus, Inc. and the
acquisition of Actient Pharmaceuticals. He will report to Richard Pascoe,
Apricus' Chief Executive Officer, and his appointment is effective
immediately. Edward Cox, who previously served in this position, will
transition to the newly created role of Vice President of Commercial
Development where he will primarily focus on supporting the launch of
Vitaros^® in Europe and Canada.
"We are excited to announce the addition of Neil Morton, whose accomplishments
in life sciences business development will be key as we seek to fully leverage
the potential of our lead product Vitaros^®, out-license ex-US Femprox^®
rights, and build a robust pipeline of innovative products in men's and
women's health," said Mr. Pascoe.
Mr. Morton stated, "I am thrilled to become part of Apricus' management team
during this important time for the Company, as Vitaros^® is expected to launch
throughout 2014 and the Company's earlier product pipeline continues to
advance. I am looking forward to making significant contributions towards
building Apricus' presence in the areas of men's and women's health."
Prior to Auxilium Pharmaceuticals, Mr. Morton served in business development
and marketing roles at King Pharmaceuticals, attaining the position of Senior
Director, Commercial Development. Mr. Morton received his M.B.A. degree from
the Babcock Graduate School of Management at Wake Forest University and his
B.A. degree in biology from Bucknell University.
About Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI) is a pharmaceutical company focused on the
development and commercialization of novel therapeutics for men's and women's
health. The Company's lead product, Vitaros^®, for the treatment of erectile
dysfunction, is 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), Recordati S.p.A.,
Bracco S.p.A. and Laboratoires Majorelle. The Company's second generation
Vitaros^® Room Temperature Device is under development and will further
enhance the products commercial value. Femprox^®, the Company's product
candidate for the treatment of female sexual interest/arousal disorder, has
successfully completed an approximately 400-subject proof-of-concept study.
The Company is currently seeking a strategic partner for Femprox^®.
For further information on Apricus, visit http://www.apricusbio.com.
Statements under the Private Securities Litigation Reform Act, as amended:
with the exception of the historical information contained in this release,
the matters described herein contain forward-looking statements that involve
risks and uncertainties that may individually or mutually impact the matters
herein described for a variety of reasons that are outside the control of the
Company, including, but not limited to, its ability to further develop its
product Vitaros^® for the treatment of erectile dysfunction, such as the room
temperature version of Vitaros^® and product candidate Femprox^®for the
treatment of female sexual interest/arousal disorder among others, as well as
the timing of such events; the timing of commercial launch of Vitaros in
Europe and Canada; and the ability to achieve our other development,
commercialization and financial goals, including the ability to out-license
ex-US rights to Femprox, develop a pipeline of products and product candidates
and further complement our management team and/or board of directors. Readers
are cautioned not to place undue reliance on these forward-looking statements
as actual results could differ materially from the forward-looking statements
contained herein. Readers are urged to read the risk factors set forth in the
Company's most recent annual report on Form 10-K, subsequent quarterly reports
filed on Form 10-Q, and other filings made with the SEC. Copies of these
reports are available from the SEC's website or without charge from the
CONTACT: Steve Martin
Chief Financial Officer
Senior Vice President
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