Corium Pharma Solutions Names Two Industry Veterans to its Executive Team
Appointments of Kevin Ostrander to Chief Business Officer and Dr. Niraj Vasisht to Chief Technology Officer Further Strengthen Leadership Team
GRAND RAPIDS, Mich., Feb. 9, 2023 /PRNewswire/ -- Corium Pharma Solutions, Inc. (CPSI), a leading, full-service contract development and manufacturing organization specializing in novel drug delivery technologies for prescription drug and consumer products including transdermal modalities, has named Kevin Ostrander as Chief Business Officer and Dr. Niraj Vasisht as Chief Technology Officer. These appointments, including CPSI's recent announcement that Mark Sirgo had been named Chief Executive Officer, further strengthen CPSI's executive team and position the company for long-term growth.
Kevin Ostrander brings more than 30 years of experience as both a research scientist and business development professional in the pharmaceutical industry, having worked for several small to mid-sized brand and generic companies. Prior to joining CPSI, Mr. Ostrander served as Vice President of Business Development for ApiJect Systems, a privately held medical device company with proprietary delivery technology in the sterile injectables market. Before ApiJect, Kevin was Senior Vice President of Business Development at BioDelivery Sciences International (BDSI) where he was responsible for concluding the acquisition of the company by Collegium Pharmaceutical. Mr. Ostrander holds a BS degree in Biology from the State University of New York at Albany, an MS degree in Pharmaceutical Quality Assurance and Regulatory Affairs from Temple University School of Pharmacy and an MBA in International Business from St. Joseph's University.
"Having worked together at BDSI, I am excited to team up with Kevin again and I know he will play an instrumental role in shaping our long-term growth strategy," said Mark Sirgo, CEO of CPSI. "Working closely with myself, members of the leadership team and our investors, we will focus on leveraging our current capabilities and identifying potential complimentary acquisitions that will allow us to extend our footprint in the specialty contract manufacturing space."
Dr. Niraj Vasisht brings more than 25 years of experience as an executive, entrepreneur, and technology key-opinion-leader in drug delivery to the pharmaceutical industry. Prior to joining CPSI, Dr. Vasisht was President and CEO of Avior Bio, Inc., a clinical-stage, manufacturing-integrated pharmaceutical company that was utilizing drug delivery to reinvent proven therapeutics for rare diseases. Before Avior, he was the Chief Technology Officer at BDSI where he spent thirteen years in multiple roles and oversaw the development, approval, intellectual property creation and manufacturing of three FDA approved products utilizing a novel drug delivery platform. Dr. Vasisht received a bachelor's in Chemical Engineering from the Indian Institute of Technology, India, and a Doctorate in Chemical Engineering from Rensselaer Polytechnic Institute. He has over 25 patents, numerous publications and authored a book on Microencapsulation and Controlled Release.
Mr. Sirgo commented, "I worked closely with Niraj for many years at BDSI and am excited to have the opportunity to partner with him again. As Chief Technology Officer, Niraj will play a critical role overseeing the formulation development work behind all of our CPSI platforms. In addition, he will be leading the assessment of complimentary platforms for potential acquisition that will allow CPSI to maintain a leadership role in the specialty development and manufacturing sector."
Founded in 1995 in Grand Rapids, Michigan, Corium Pharma Solutions has maintained longstanding partnerships with multinational Fortune 500 companies and pharmaceutical businesses alike. CPSI currently manufactures a variety of over the counter and prescription products, including Proctor & Gamble Co's (NYSE: PG) entire Crest Whitestrips franchise, Agile Therapeutics, Inc.'s (NASDAQ: AGRX) Twirla®, and Corium, LLC's ("Corium") ADLARITY®, a once-weekly, transdermal donepezil patch for Alzheimer's patients.
About Corium Pharma Solutions
Headquartered in Grand Rapids, Michigan, Corium Pharma Solutions is a leading, full-service contract development and manufacturing organization specializing in novel drug and consumer product delivery technologies. With a track record spanning nearly 30 years, the company offers end-to-end solutions to its partners, from formulation and product development work, through commercial-scale manufacturing and packaging. The company's success is enabled by its state-of-the-art facilities, highly tenured operational leadership, and proprietary drug delivery technologies, CORPLEX™ and MICROCOR®. Corium Pharma Solutions is jointly owned by B-FLEXION and Webster Equity Partners. Prior to the CPSI transaction with Webster Equity Partners in October 2022, Gurnet Point Capital, an affiliate of B-Flexion, led the original investment in Corium Pharma Solutions through a take-private transaction in October 2018.
About Gurnet Point Capital & B-FLEXION
Gurnet Point Capital, an affiliate of B-FLEXION, is a leading healthcare fund that invests in de-risked life sciences companies. Gurnet Point primarily focuses on businesses that have high growth potential in the late product development and commercialization stages of their evolution. These companies become partners not just because of their capacity to generate economic value, but also because of their potential to deliver social impact. Gurnet Point's team of highly experienced industry executives works closely with its portfolio companies, with an active approach driving operational transformation and outsized returns.
B-FLEXION is a private, entrepreneurial investment firm, partnering with sophisticated capital to meet the shared goal of delivering exceptional value over the generations, while also contributing positively to society. The company oversees growth-oriented operating businesses and asset managers, always with an 'active owner' philosophy. B-FLEXION invests across a wide range of industries, including healthcare. Gurnet Point Capital, an affiliate of B-FLEXION, leads B-FLEXION's de-risked life sciences investment strategy.
About Webster Equity Partners
Founded in 2003, Webster is a private equity firm that focuses on high impact growth strategies that seek to deliver optimal outcomes for our investors, portfolio companies and the communities that we serve. Our mission is to deliver superior returns to our partners through the investment in and development of purpose driven patient-centric healthcare organizations dedicated to providing best of class clinical care and service to their patients. https://websterequitypartners.com/
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SOURCE Corium Pharma Solutions Inc.