From the Wires
MiddleBrook Pharmaceuticals Announces Changes to Management Team
Oct. 7, 2008 08:01 AM
GERMANTOWN, Md., Oct. 7 /PRNewswire-FirstCall/ -- MiddleBrook
Pharmaceuticals, Inc. (Nasdaq: MBRK), a pharmaceutical company focused on
developing and commercializing novel anti-infective products, today announced
new management team members.
John Thievon, MiddleBrook president and CEO, said, "These changes are an
important first step toward transitioning MiddleBrook to a full-fledged
commercial operation. Next, we will fill key sales management positions and
begin recruiting field force representatives. We look forward to sharing more
information on our plans and progress during our third quarter earnings
conference call."
-- Timothy L. Miller has joined MiddleBrook Pharmaceuticals as Senior Vice
President, Sales Operations & Administration. Prior to joining MiddleBrook,
Miller served as Vice President, Sales Operations & Training at Adams
Respiratory Therapeutics, Inc. (Adams). Previously, he held numerous key
positions in sales, operations and finance at Aventis Pharmaceuticals, Inc.
and its legacy companies.
-- Brian J. Carlino has joined MiddleBrook Pharmaceuticals as Vice
President, Sales. Prior to joining MiddleBrook, Carlino held multiple sales,
trade, and managed care leadership roles at Salix Pharmaceuticals, Inc. and
its predecessor company, InKine Pharmaceutical Company, Inc. Previously, he
was a sales manager at Adams Laboratories, Inc. and worked in sales at UCB
Pharma, Inc.
-- William G. Volz has joined MiddleBrook Pharmaceuticals as Vice
President, Marketing. Prior to joining MiddleBrook, Volz was Senior Director
of Sales & Marketing at Ivax Laboratories, Inc. Previously, he held
successive leadership roles in the ophthalmic division of Novartis, including
Executive Director, U.S. Sales; Global Marketing Director, Allergy; U.S.
Marketing Director, Allergy & OTC.
The Company also announced key hires in legal, information technology,
finance, and investor relations. MiddleBrook EVP and CFO David Becker said,
"These changes to our leadership team will enable us to effectively support
commercial operations and identify and implement programs focused on
extracting maximum value from company-wide resources."
-- Brad Cole has joined MiddleBrook Pharmaceuticals as Senior Vice
President, General Counsel. Prior to joining MiddleBrook, Cole served as
Associate General Counsel at Adams. Prior to Adams, Cole was with the law
firm Holland & Knight LLP, where he worked on corporate, securities and M&A
matters.
-- Michael J. Butrico has joined MiddleBrook Pharmaceuticals as Vice
President of Information Technology and Automation. Prior to joining
MiddleBrook, Butrico served as Executive Director, Information Technology at
Adams. Previously, he held key technology positions at Chubb and AT&T.
-- David N. Carlson has joined MiddleBrook Pharmaceuticals as Vice
President of Finance & Treasurer. Prior to joining MiddleBrook, Carlson held
several key finance positions at Adams; most recently Vice President of
Finance & Plant Controller. Formerly, he held various positions in finance at
RxAmerica, a fully-integrated retail and mail service provider of pharmacy
benefit management services.
-- Cynthia C. Tirpak has joined MiddleBrook Pharmaceuticals as Vice
President, Controller. Prior to joining MiddleBrook, Tirpak was Executive
Director, Business Development & Assistant Treasurer at Adams. Previously,
she was Assistant Controller for Adams. Tirpak also held various operational
and corporate finance positions at Biovail Pharmaceuticals and Pharmacia
Corporation. She began her career as an auditor with Deloitte & Touche and is
a CPA.
-- Faith Pomeroy-Ward has joined MiddleBrook Pharmaceuticals as Executive
Director, Investor Relations & Corporate Communications. Prior to joining
MiddleBrook, Pomeroy-Ward worked in public affairs and communications for
Verizon Telecom. Previously, she served as Senior Manager, Investor Relations
& Corporate Communications at Adams.
MiddleBrook Pharmaceuticals Reports Inducement Grants
Under NASDAQ Marketplace Rule 4350 MiddleBrook Pharmaceuticals also announced today that on Oct. 1, 2008, it
granted options to purchase 125,000 shares of MiddleBrook's common stock to
two new employees as a material inducement for them to join the company. The
options were granted pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) and
under MiddleBrook's New Hire Stock Incentive Plan, which was approved by
MiddleBrook's Board of Directors on Sept. 26, 2008. The options have a per
share exercise price equal to the closing price of MiddleBrook's common stock
on the Nasdaq Global Market on the day immediately preceding the grant date, a
ten-year term and vesting over four years, with 25 percent of the options
vesting one year from the grant date and 1/48th of the options vesting monthly
thereafter. The options have a grant date of Oct. 1, 2008.
About MOXATAG(TM):
MOXATAG(TM) (amoxicillin extended-release) tablets are a once-a-day
extended-release formulation of amoxicillin for oral administration consisting
of three components: one immediate-release component and two delayed-release
components. The three components are combined in a specific ratio to prolong
the release of amoxicillin from MOXATAG(TM) compared to immediate-release
amoxicillin. MOXATAG(TM) is intended to provide a lower treatment dose, once-
daily alternative to currently approved penicillin and amoxicillin regimens
for the treatment of adults and pediatric patients 12 years and older with
tonsillitis and/or pharyngitis.
About Middlebrook Pharmaceuticals:
MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK) is a pharmaceutical
company focused on the development and commercialization of anti-infective
drug products that fulfill substantial unmet medical needs in the treatment of
infectious disease. The Company is developing anti-infective drugs based on
its novel biological finding that bacteria exposed to antibiotics in pulses
are killed more efficiently and effectively than those under standard
treatment regimens. Based on this finding, MiddleBrook has developed a
proprietary, once-a-day pulsatile delivery technology called PULSYS(R). The
Company currently markets the Keflex(R) brand of cephalexin and has received
regulatory approval for MOXATAG(TM) -- the first and only once-daily
amoxicillin product approved for marketing in the U.S. For more on
MiddleBrook, please visit www.middlebrookpharma.com.
This announcement contains forward-looking statements, within the meaning
of the Securities Exchange Act of 1934 and the Securities Act of 1933, that
involve risks and uncertainties. In some cases, forward-looking statements are
identified by words such as "believe," "anticipate," "expect," "intend,"
"plan," "will," "may" and similar expressions. You should not place undue
reliance on these forward-looking statements, which speak only as of the date
of this announcement. All of these forward-looking statements are based on
information available to us at this time, and we assume no obligation to
update any of these statements. Actual results could differ from those
projected in these forward-looking statements as a result of many factors,
including those identified in the sections titled "Risk Factors,"
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" and elsewhere in our Annual Report on Form 10-K for the year ended
Dec. 31, 2007. We urge you to review and consider the various disclosures made
by us from time to time in our filings with the Securities and Exchange
Commission, that attempt to advise you of the risks and factors that may
affect our future results.
SOURCE MiddleBrook Pharmaceuticals, Inc.
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