Toronto Stock Exchange Symbol: DND
MISSISSAUGA, ON, June 26, 2014 /CNW/ - Cipher Pharmaceuticals Inc. (TSX:
DND) ("Cipher" or "the Company") today announced that Shawn Patrick
O'Brien has been appointed Chief Executive Officer of Cipher, effective
Mr. O'Brien has spent the past 30 years in the pharmaceutical and
biotechnology sectors where he has gained extensive global executive
leadership experience. Mr. O'Brien is one of the three founders of
AltheRx Pharmaceuticals and served as President and CEO, where he built
the business and secured funding to acquire and develop a mid-stage
asset from GlaxoSmithKline Inc. Previous roles include President and
Chief Executive Officer of Profectus BioSciences Inc., where he secured
two rounds of equity financing and a major vaccine licensing deal with
Wyeth that provided Profectus with more than $100 million in
non-dilutive funding. Mr. O'Brien also served as President and Chief
Executive Officer of Solstice Neurosciences, Inc., which was spun out
of Elan Pharmaceuticals. At Solstice, he built a fully integrated
organization of more than 150 employees and raised $125 million in
private financing prior to the sale of the business.
Previously, Mr. O'Brien spent 17 years with AstraZeneca Pharmaceuticals,
where he held multiple senior-level positions in Canada and the U.S.,
most recently as Vice President of Commercial Operations for Emerging
Brands. Prior to that, he was Vice President and Therapy Area Leader,
Respiratory & Inflammation and Commercial & Development Group Director
for the Oncology Therapeutic area, each of which had in excess of $1
billion in annual sales. Mr. O'Brien began his career at The Upjohn
Company of Canada.
"We are very pleased to welcome a high-caliber executive like Shawn to
lead the next phase of growth for the Company," said Gerry McDole,
Chair of Cipher. "Shawn has a very unique background, including a
proven track record with commercial-stage companies in Canada and the
U.S. and a blend of business development, sales & marketing, regulatory
and R&D experience. His background aligns very well with Cipher's core
capabilities and growth aspirations."
"It's rare to find a company that is as well positioned as Cipher, with
increasing revenue, a strong balance sheet, and experienced core team,"
said Shawn O'Brien. "I'm very excited by the opportunity to build on
these strengths and help execute the growth plan."
Mr. O'Brien is the Chairman of Cyrano, LLC and a board member of
Melanovus Oncology Inc. and the Crozer-Keystone Health System. He is
also an Advisory Board member of the Greater Philadelphia Life Sciences
About Cipher Pharmaceuticals Inc.
Cipher Pharmaceuticals (TSX: DND) is a growing specialty pharmaceutical
company with three commercial products and a fourth in development. Our
product candidates are typically improved formulations of successful,
currently marketed drugs. We in-license a product, manage the required
clinical development and regulatory approval process, and either
out-license it to a marketing partner, or, in Canada, we may market the
product ourselves. Our core capabilities are in clinical and regulatory
affairs, product licensing, supply chain management, and marketing and
sales. Since the Company was founded in 2000, we have achieved final
regulatory approval in the U.S. and Canada for all three of our
original products and completed six marketing partnerships, generating
growing licensing revenue.
SOURCE: Cipher Pharmaceuticals Inc.
For further information:
(416) 815-0700 ext 278
(416) 815-0080 fax
Chief Financial Officer
(905) 602-5840 ext 323
(905) 602-0628 fax