SAN RAMON, Calif., July 31, 2017 (GLOBE NEWSWIRE) -- SteadyMed Ltd. (Nasdaq:STDY), a specialty pharmaceutical company focused on the development of drug product candidates to treat orphan and high-value diseases with unmet parenteral delivery needs, today announced the appointment of Jeff Myers, M.D., Ph.D. as Vice President, Medical Affairs.
Dr. Myers, who joins SteadyMed from Gilead Sciences, will be responsible for all scientific and medical activities in support of commercializing the Company’s lead drug product candidate, Trevyent®, which is in development for the treatment of Pulmonary Arterial Hypertension (PAH). At Gilead, Dr. Myers was the Senior Medical Director and Global Lead for Gilead’s cardio-pulmonary products, including Letairis for the treatment of PAH. Prior to Gilead, Dr. Myers held medical affairs positions at Genzyme Corporation (now Sanofi Genzyme) as well as various academic appointments as a cardiothoracic surgeon. Dr. Myers received his Ph.D. from Georgetown University School of Medicine and his M.D. from the University of Oklahoma College of Medicine. He completed fellowships at the University of California, Los Angeles and Duke University.
“SteadyMed has a track record of attracting outstanding employees and we are very pleased to welcome Jeff onto our team. Jeff’s expertise in the cardiovascular space and specific expertise in the PAH space, in both academia and industry, will be invaluable to SteadyMed as we seek to bring Trevyent to patients suffering from PAH,” said Peter Noymer, Ph.D., Executive Vice President & COO of SteadyMed.
“The recent submission of the New Drug Application (NDA) for Trevyent marked a major milestone for SteadyMed, and I am enthused by what the future holds. I look forward to contributing to the Company’s future success,” added Dr. Myers.
Designed to address the administration limitations of existing PAH therapies, Trevyent combines SteadyMed’s preservative-free, parenteral treprostinil formulation with the Company’s proprietary PatchPump, a sterile, pre-filled, pre-programmed, single use disposable infusion system capable of continuously delivering treprostinil subcutaneously or intravenously.
SteadyMed Ltd. is a specialty pharmaceutical company focused on the development of drug products to treat orphan and high value diseases with unmet parenteral delivery needs. The company's lead drug product candidate is Trevyent, a development stage drug product that combines SteadyMed's pre-filled, sterile, single use, disposable, PatchPump® infusion system, with treprostinil, a vasodilatory prostacyclin analogue to treat pulmonary arterial hypertension (PAH). SteadyMed intends to commercialize Trevyent in the U.S. and has signed an exclusive license and supply agreement with Cardiome Pharma Corp. for the commercialization of Trevyent in Europe, Canada and the Middle East. SteadyMed has offices in San Ramon, California and Rehovot, Israel. For additional information about SteadyMed please visit www.steadymed.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among others, statements about the company's ability to advance its development-stage product candidates, including Trevyent. Forward-looking statements reflect the company's current views with respect to certain current and future events and are subject to various risks, uncertainties and assumptions that could cause actual results to differ materially. Risks and uncertainties include, but are not limited to, the risk that Trevyent does not demonstrate clinical superiority to existing parenteral treprostinil products, that Trevyent is not approved for commercialization by the FDA or approval is delayed by patent litigation, that Trevyent is not granted orphan drug exclusivity, the risk that drug development involves a lengthy and expensive process with uncertain outcome, that the company will not satisfy the milestone and other closing conditions to call the second tranche of its July 2016 private placement, that the company will continue to need additional funding, and that the company may be unable to raise capital when needed, which would force the company to delay, reduce or eliminate its product candidate development programs and potentially cease operations. There can be no assurance that the company will be able to complete the offering on the terms described herein or in a timely manner, if at all. The risks, uncertainties and assumptions referred to above are discussed in detail in our reports filed with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q filed on May 12, 2017. The company does not undertake to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date hereof except as may be required by law.
Senior Director, Investor Relations and Marketing
The Ruth GroupLee Roth