Corsair Pharma Announces Appointment of George W. Mahaffey as Chief Executive Officer
SUNNYVALE, Calif., December 11, 2023--(BUSINESS WIRE)--Corsair Pharma, Inc., a private biopharmaceutical company developing a transdermal treprostinil prodrug, today announced the appointment of George W. Mahaffey as Chief Executive Officer. He will also serve as a Director of the Company. Mr. Mahaffey brings more than 35 years of pharmaceutical, biotech, device, and diagnostics experience, including having launched Ventavis®, the first FDA-approved inhaled prostacyclin product indicated for pulmonary arterial hypertension (PAH).
Prostacyclin drugs are the standard of care drug class to treat PAH. The Corsair transdermal patch is intended to provide continuous and consistent blood levels of the prostacyclin drug treprostinil comparable to an infusion pump. It delivers an inactive prodrug, which is intended to cross the skin, enter the blood, and convert rapidly to treprostinil via the liver. Corsair also believes that the patch has the potential to treat other forms of pulmonary hypertension.
"Treprostinil is highly effective in the treatment of PAH. Unfortunately, its clinical benefit can be limited by severe rash, pain, and inconvenient or dose-limiting delivery obstacles. PAH patients need new options for the delivery of this foundational drug class," said Mr. Mahaffey. "The potential for transdermal delivery of a treprostinil prodrug may provide physicians and patients with new treatment options that address PAH patients’ need for safety, efficacy, and convenience."
"George brings to Corsair a track record of 14 years in successful CEO roles building, leading, and successfully exiting companies; and a breadth of commercial experience, particularly in the PAH space," stated Ivan Gergel, M.D., Managing Partner, New Rhein Healthcare, and Chairman of the Corsair Board. "PAH is a devastating disease where there is a clear need for new treatment options offering a meaningful improvement in quality of life for patients suffering with this disease."
About Corsair
Corsair Pharma is developing transformative solutions to improve the therapeutic profile of medications and provide superior treatment options for patients. The company is focused on the development of novel prodrugs of treprostinil to treat patients with pulmonary arterial hypertension (PAH) using a once-daily transdermal patch. For more information, see www.corsairpharma.com.
About PAH and Treprostinil
Pulmonary arterial hypertension (PAH) is a serious, progressive, and fatal disease that causes shortness of breath, markedly reducing quality of life. In the United States, approximately 45,000 patients are currently under treatment. Current treatments offer some symptomatic relief but only prostanoids, such as treprostinil, have been shown to prolong life. Treprostinil is commonly used in the treatment of PAH. It exerts its pharmacological action though vasodilation, platelet aggregation and by inhibiting smooth muscle proliferation. Treprostinil is currently marketed by United Therapeutics in different dosage forms to alleviate the symptoms, maintain or improve functional class, delay disease progression, and improve quality of life in patients suffering from PAH. The prostacyclin US market for PAH was approximately $2.5 billion in 2022 and is projected to reach $4.0 billion in 2028.
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