A.P. Pharma Appoints Vice President Of Business Development
Newly Created Position is Instrumental in Company's Business Strategy
REDWOOD CITY, Calif. (May 30, 2001) – A.P. Pharma, Inc. (Nasdaq NM: APPA), a specialty pharmaceutical company, today announced the appointment of Jayne M. Lange to the newly created position of Vice President, Business Development. Ms. Lange primarily will be responsible for developing corporate partnerships and collaborations for the Company's families of bioerodible delivery systems for injectable and implantable drug delivery. Known as Biochronomer™ systems, they are designed for the controlled release of drugs into various sites such as under the skin, in muscle or in the peritoneal cavity and offer potential for use in a broad array of pharmaceutical products. She will report to Mike O'Connell, president and chief executive officer. A.P. Pharma has a platform of bioerodible technologies in the drug delivery arena, which it plans to partner in exchange for traditional license fees, royalties and milestone payments. The Company also has a program to develop proprietary products through partnerships.
A seasoned pharmaceutical industry executive, Ms. Lange has more than 13 years of experience in business development with a number of leading firms including Novartis, COR Therapeutics and SmithKline Beecham, both in the U.S. and overseas. Most recently, she served as Vice President, Marketing and Business Development for Discovery Partners International, Inc., ChemRx Advanced Technologies Division, a medicinal chemistry firm spun out from Axys Pharmaceuticals. Prior to that, she was Executive Director, Business Development for Novartis Pharmaceuticals, a world leader in healthcare with operations in 142 countries.
“As we near completion of our pre-clinical studies, a critical part of our strategy involves partnering with pharmaceutical and biotechnology companies in order to bring innovative new products to market,” commented Mr. O'Connell. “During her career, Jayne has amassed considerable expertise in corporate development, and has successfully negotiated numerous product licensing agreements and research collaborations. We are confident that she will be instrumental in commercializing our bioerodible drug delivery technologies, and also in advancing our proprietary product development programs.”
About A.P. Pharma
A.P. Pharma is a specialty pharmaceutical company focused on the development of ethical (prescription) pharmaceuticals utilizing its proprietary polymer-based drug delivery systems. The Company's primary focus is the development and commercialization of its bioerodible injectable and implantable systems under the trade name Biochronomerä. Initial targeted areas of application for the Company's drug delivery technology include pain management, inflammation, oncology, and ophthalmic and orthopedic applications. The Company's product development programs are funded by royalties from topical products currently marketed by pharmaceutical partners, and proceeds from the divestiture of its cosmeceutical product lines. For further information visit the Company's Website at www.appharma.com
Except for historical information, this news release contains certain forward-looking statements that involve risks and uncertainties, including among others, uncertainty associated with timely development, approval, launch and acceptance of new products, establishment of new corporate alliances and progress in research and development programs. Other risks and uncertainties associated with the Company's business and prospects are identified in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to revise these forward-looking statements to reflect events or circumstances occurring in the future.