Deal Could Top $1 Billion
LOS ANGELES, Dec. 1, 2016 /CNW/ -- In the corporate world "the right leader means everything," which is the motto of Bench International Search Inc., a performance and milestone retained executive search and consulting company specializing in the life sciences industry. Bench was retained by the board of directors of Chase Pharmaceuticals 2 years ago to recruit a Pharma industry drug development leader to join its board and subsequently retained to recruit the company's CEO. Chase was recently acquired by Allergan PLC for a $125 million up-front payment in a deal that could top $1 billion.
Chase Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of improved treatments for neurodegenerative disorders including Alzheimer's disease. Chase's patent-protected lead compound, CPC-201, recently completed an End of Phase 2 meeting with the Food and Drug Administration (FDA). Based on FDA feedback, Allergan intends to advance CPC-201 into a single Phase 3 registration study in 2017.
"Bench International is honored to have been entrusted by the investors committed to Chase Pharmaceuticals to find and deliver the Pharma industry's marquee leaders who have brought Chase to the forefront, from a little known company to a company with a high potential blockbuster drug for Alzheimer's Disease," said Bench Chairman and CEO, Denise (DeeDee) DeMan. "With Bench delivering Dr. Stephen Cunningham to Chase's board of directors, bringing with him a 20+ history in successful drug development, as well bringing Doug Ingram to Chase as their CEO, a man who is so deeply admired for his 18 year record of industry accomplishment and credibility, Chase had the remarkable opportunity to ensure its clinical-stage program was in very good hands with a sale to Allergan," DeMan added.
About Bench International Search Inc.
Bench International, established in 1974, is committed to recruiting leaders who make a fundamental impact on life science businesses. They successfully complete 98% of their searches and more than ¾ of their executives stay with the same company for at least 5 years. The company serves pharmaceutical, healthcare, biotech, and other segments of the life sciences industry. The company is headquartered in Los Angeles, California, with offices and company leaders located in San Francisco, Philadelphia, New Jersey, New York, United Kingdom, Switzerland and Australia.
SOURCE Bench International Search Inc.
For further information: Ellen Paris (760-413-0471)