Auspex Pharmaceuticals Appoints Industry Veterans Lynn Bleil And Scott Greer To Its Board Of Directors

LA JOLLA, Calif., May 7, 2014 /PRNewswire/ -- Auspex Pharmaceuticals, Inc. (Nasdaq: ASPX), a late clinical stage biopharmaceutical company focused on developing and commercializing novel medicines for the treatment of orphan diseases, today announced the expansion of its Board of Directors with the appointment of two new members:

• Lynn D. Bleil, former leader of McKinsey & Company's West Coast Healthcare Practice and a leader of the worldwide Healthcare Practice
• R. Scott Greer, Managing Director of Numenor Ventures, LLC and former Founder, Chairman and CEO of Abgenix, Inc.

Both Ms. Bleil and Mr. Greer are accomplished industry executives, each having more than 25 years of experience in the biopharmaceutical industry. With the addition of these two new directors, the total number of Auspex Board members is increased to nine.

"We welcome Lynn and Scott to the Board of Directors," said Pratik Shah, Ph.D., President and Chief Executive Officer of Auspex. "We look forward to leveraging their substantial industry experience and expertise as we advance SD-809, our lead program currently in Phase 3 clinical development for the treatment of chorea associated with Huntington's disease, toward commercialization. They bring significant insight into issues Auspex is likely to encounter as we become a commercial organization and we believe they can help us in advancing our business strategy and building shareholder value."

Ms. Bleil was the leader of McKinsey & Company's West Coast Healthcare Practice, and a leader of the Firm's worldwide Healthcare Practice. She retired in December 2013 as a Senior Partner (Director) in the Southern California Office of McKinsey after more than 25 years working exclusively within the healthcare sector. She advised senior management and boards of leading companies across all segments of the healthcare value chain about corporate and business unit strategy, mergers and acquisitions/ integration, marketing and sales, public policy, and organization. Most recently, Ms. Bleil has worked with companies in the biotechnology/specialty pharma and medical device industries, focused on developing corporate strategies, go-to-market/reimbursement strategies, and organizational capabilities to address the rapidly changing payor/ provider landscape in the United States and globally. She was recently nominated to the Board of DST Systems, a publicly-traded financial and health services company. Ms. Bleil holds a bachelor's degree in Chemical Engineering from Princeton University, magna cum laude, and a master's degree in business administration degree from the Stanford Graduate School of Business, where she was an Arjay Miller Scholar.

Mr. Greer, as managing director of Numenor Ventures, LLC, is a private investor in and consultant to the life sciences industry with more than 25 years of experience. Mr. Greer has made direct investments in more than 20 healthcare, technology, and consumer product companies. He was a founder of Abgenix, Inc., a publicly traded biotechnology company focused on developing and commercializing human antibody based therapeutics, serving as its Chief Executive Officer from its inception in 1996 through 2002 and as its Chairman of the Board from 2000 until 2006 when the company was acquired by Amgen, Inc. for approximately $2.2 billion. Mr. Greer was also an investor in and Chairman of the Board of Sirna Therapeutics, a publicly traded biotechnology company that was sold to Merck for $1.1 billion in 2007. Mr. Greer is currently a member of the Board of Nektar Therapeutics, a publicly-traded late clinical stage biopharmaceutical company, StemCells, Inc., a biopharmaceutical company focused on stem cell therapeutics and chairman of the board of directors of Ablexis LLC, a private development-stage biotechnology company. Mr. Greer received a bachelor's degree in Economics from Whitman College and master's degree in business administration from Harvard University. He also was a certified public accountant.

About Auspex Pharmaceuticals

Auspex Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel medicines for the treatment of orphan diseases. Auspex's pipeline includes product candidates to address unmet medical needs in hyperkinetic movement disorders, such as chorea associated with Huntington's disease, tardive dyskinesia and Tourette syndrome, as well as fibrotic indications, including idiopathic pulmonary fibrosis (IPF) and other orphan conditions. Auspex's lead product candidate, SD-809 (dutetrabenazine), is in a Phase 3 registration clinical trial for the treatment of chorea (abnormal involuntary movements) associated with Huntington's disease. Auspex plans to initiate a Phase 2/3 clinical trial of SD-809 in tardive dyskinesia and a Phase1b in Tourette syndrome. Auspex also plans to initiate a Phase 1 clinical trial with SD-560 (deuterium-containing form of pirfenidone). Auspex has employed its deuterium chemistry approach to optimize other compounds in its portfolio that are at various stages of development. For further information, please visit the company's website www.auspexpharma.com.

Forward Looking Statements

Statements made in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding Auspex's ability to successfully complete its ongoing clinical trials and development programs and Auspex's ability to obtain regulatory approval for its product candidates. Risks that contribute to the uncertain nature of the forward-looking statements include: Auspex's future preclinical studies and clinical trials may not be successful; changes in regulatory requirements in the United States and foreign countries may prevent or significantly delay regulatory approval of Auspex's product candidates; Auspex may change its plans to develop and commercialize its product candidates; the U.S. Food and Drug Administration (FDA) may not agree with Auspex's interpretation of the data from clinical trials of its product candidates; Auspex may decide, or the FDA may require Auspex, to conduct additional clinical trials or to modify Auspex's ongoing clinical trials; Auspex may experience delays in the commencement, enrollment, completion or analysis of clinical testing for its product candidates, or significant issues regarding the adequacy of its clinical trial designs or the execution of its clinical trials, which could result in increased costs and delays, or limit Auspex's ability to obtain regulatory approval; the third parties with whom Auspex has partnered with for the development of its product candidates and upon whom Auspex relies to conduct its clinical trials and manufacture its product candidates may not perform as expected; Auspex's product candidates may not receive regulatory approval or be successfully commercialized; unexpected adverse side effects or inadequate therapeutic efficacy of Auspex's product candidates could delay or prevent regulatory approval or commercialization; Auspex may be unable to obtain and maintain intellectual property protection for its product candidates; the loss of key scientific or management personnel; Auspex's ability to obtain additional financing; and the accuracy of Auspex's estimates regarding expenses, future revenues and capital requirements. All forward-looking statements contained in this press release speak only as of the date on which they were made. Other risks and uncertainties affecting Auspex are described more fully in Auspex's filings with the Securities and Exchange Commission. Auspex undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE Auspex Pharmaceuticals, Inc.