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WARRINGTON, Pa., July 21, 2020 /PRNewswire/ -- Windtree Therapeutics, Inc. (NasdaqCM: WINT), a biotechnology and medical device company focused on advancing multiple late-stage interventions for acute cardiovascular and pulmonary disorders, today announced the expansion of its team with the new hires of Dr. Pratap Paruchuru as executive director of clinical development, Catherine Kacprzycki as director of clinical operations and Tracy Rarick as head of operations and program management.
"We are excited to be strategically building out our clinical development team during this critical growth period for Windtree with the hires of Pratap, Catherine and Tracy," said Craig Fraser, chief executive officer of Windtree. "Each brings a breadth of valuable experience, including expertise in the cardiovascular and respiratory spaces, and will be integral in executing our multiple development programs in roles that help ensure progress in line with our objectives."
Dr. Pratap Paruchuru has more than 16 years' experience as a pharmaceutical physician and development program leader as well as several years spent as a cardiothoracic surgeon in clinical/hospital practice. Most recently, Dr. Paruchuru was providing expertise and leadership to heart failure clinical programs at Novartis and acting as a project lead on pulmonary arterial hypertension programs at GlaxoSmithKline (GSK). Prior to Novartis and GSK, Dr. Paruchuru served as a Cardiology Medical Director at Covance and a Global Clinical Development Physician at AstraZeneca. Dr. Parachuru is also an experienced clinician, receiving a Diploma in Pharmaceutical Medicine from Universite Libre de Bruxelles, Belgium and having held multiple faculty positions for Pharmaceutical Medicine (FFPM) of the Royal Colleges of Physicians, UK and for surgery (FRCSEd) of the Royal College of Surgeons of Edinburgh. Dr. Paruchru's key focus will be to lead the execution of the istaroxime early cardiogenic shock study as well as the Istaroxime acute heart failure program.
In connection with Dr. Paruchuru's appointment, the Board of Directors of Windtree granted Dr. Paruchuru a stock option to purchase 100,000 shares of Windtree's common stock at a per share purchase price equal to $6.80 (which was the closing price of Windtree's common stock on the Nasdaq Capital Market on the date of grant, July 15, 2020 ). The stock option is being granted to Dr. Paruchuru as an inducement material to him accepting employment with Windtree and is being granted outside of the Windtree Therapeutics, Inc.'s 2011 Long-Term Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option will vest in in three equal installments over three years beginning on the first anniversary of the grant date. The vesting of shares underlying the stock option is subject to Dr. Paruchuru's continued service with Windtree through each such applicable vesting date.
Catherine Kacprzycki is a seasoned industry veteran with almost 30 years' experience in clinical operations. Catherine has successfully led clinical development teams at Endo Pharmaceuticals, CSL Behring, Sanofi Pasteur and GlaxoSmithKline. Ms. Kacprzycki is a registered nurse and is pursuing a Master's degree in Quality Assurance and Regulatory Affairs from Temple University. As lead for Clinical Operations, Catherine is focused on leading operational execution of the Company's multiple clinical trials.
Tracy Rarick joins Windtree with more than 25 years' experience in the industry, having held leadership roles and overseen multiple clinical programs at leading pharma and biotech companies. Most recently, Ms. Rarick was director of program management at Boston Scientific (formerly BTG International). She has also held key program manager roles at Synthes, a Johnson & Johnson subsidiary, Thomas Medical Products and Teleflex Medical and holds a B.S. in Chemistry from George Mason University. In her role at Windtree, Tracy will ensure efficient and effective project / program management with the objective of progress staying on track with targets and commitments.
About Windtree Therapeutics
Windtree Therapeutics, Inc. is advancing multiple late-stage interventions for acute cardiovascular and pulmonary disorders to save patients in their moments of crisis. Using new clinical approaches, Windtree is developing a multi-asset franchise anchored around compounds with an ability to activate SERCA2a, with lead candidate istaroxime as a first-in-class treatment for acute heart failure and early cardiogenic shock in heart failure. Windtree is also developing AEROSURF® as a paradigm shifting non-invasive surfactant treatment for premature infants with respiratory distress syndrome, as well as other uses for its synthetic KL4 surfactant for the treatment of acute pulmonary conditions. Also in its portfolio is rostafuroxin, a novel precision drug product targeting hypertensive patients with certain genetic profiles.
For more information, please visit the Company's website at www.windtreetx.com.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The Company may, in some cases, use terms such as "predicts," "believes," "potential," "proposed," "continue," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are based on information available to the Company as of the date of this press release and are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company's current expectations. Examples of such risks and uncertainties include: risks and uncertainties associated with the ongoing economic and social consequences of the COVID-19 pandemic, including any adverse impact on the Company's clinical trials or disruption in supply chain; the success and advancement of the clinical development programs for istaroxime, AEROSURF® and the Company's other product candidates; the Company's ability to secure significant additional capital as and when needed; the Company's ability to access the debt or equity markets; the Company's ability to manage costs and execute on its operational and budget plans; the results, cost and timing of the Company's clinical development programs, including any delays to such clinical trials relating to enrollment or site initiation; risks related to technology transfers to contract manufacturers and manufacturing development activities; delays encountered by the Company, contract manufacturers or suppliers in manufacturing drug products, drug substances, aerosol delivery systems (ADS) and other materials on a timely basis and in sufficient amounts; risks relating to rigorous regulatory requirements, including that: (i) the FDA or other regulatory authorities may not agree with the Company on matters raised during regulatory reviews, may require significant additional activities, or may not accept or may withhold or delay consideration of applications, or may not approve or may limit approval of the Company's product candidates, and (ii) changes in the national or international political and regulatory environment may make it more difficult to gain regulatory approvals and risks related to the Company's efforts to maintain and protect the patents and licenses related to its product candidates; risks related to the size and growth potential of the markets for the Company's product candidates, and the Company's ability to service those markets; the Company's ability to develop sales and marketing capabilities, whether alone or with potential future collaborators; and the rate and degree of market acceptance of the Company's product candidates, if approved. These and other risks are described in the Company's periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. The Company assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.
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SOURCE Windtree Therapeutics, Inc.