NEW PROVIDENCE, NJ--(Marketwire - November 17, 2011) - Edge Therapeutics, a biopharmaceutical company developing novel implantable technology for direct delivery of proven drugs to the site of brain injury, announced today the appointment of James J. Loughlin to the Company's Board of Directors. Mr. Loughlin will also serve as chair of the Audit Committee. Mr. Loughlin currently serves as independent director for Celgene Corporation where he Chairs the Audit Committee and is a member of the Compensation Committee. He has also served as a member of the Board and lead director of Datascope Corporation. (until January 2009) and the Board of Alfacell Corporation. (until 2008).
"We are honored that Jim is joining our board and sharing his wealth of experience during this exciting period of our company's development," said Brian Leuthner, President and CEO of Edge. Edge Board member Dr. Sol Barer commented: "With the addition of Jim to the Board, we acquire significant financial and business expertise from a person who shares common values that focus on the patient and the development of therapies for life threatening diseases."
"Edge presents an exciting opportunity to develop potentially life-saving therapies for doctors treating brain hemorrhage and other debilitating head trauma and I look forward to helping Edge during this exciting time of growth for the company," said Mr. Loughlin.
Mr. Loughlin is an experienced corporate director with a distinguished 40-year career with one of the world's leading professional accounting and business consulting firms. At KPMG LLP, he advanced from entry level in 1964 to the highest levels of senior management and governance, including National Director of the Pharmaceuticals Practice and a five-year term as member of the Board of Directors. Additionally, Mr. Loughlin served as Chairman of the Pension and Investment Committee of the KPMG Board from 1995 through 2001. He also served as Partner in charge of Human Resources, Chairman of the Personnel and Professional Development Committee, Secretary and Trustee of the Peat Marwick Foundation and a member of the Pension, Operating and Strategic Planning Committees.
About Edge Therapeutics
Edge Therapeutics is a hospital-focused biopharmaceutical company that uses a novel, site-specific and sustained release-microparticle technology platform to deliver drugs to the brain and treat acute, and fatal or debilitating neurological conditions that currently have no effective therapies. Edge works with some of the world's foremost scientists from leading academic research centers to develop proprietary and novel formulations of known active drugs for direct therapeutic delivery to the site of injury in the brain. The company's patent-protected, bioabsorbable microparticle formulations release drugs locally and consistently at therapeutic concentrations in the brain, which maximizes therapeutic activity while avoiding treatment-limiting systemic side effects seen with oral and intravenous delivery. The technology platform is the basis of Edge's pipeline of drugs in therapeutic areas such as complications from spontaneous brain hemorrhage, traumatic brain injury and brain surgery. The lead products, NimoGel™ and NimoVent™, are microparticle formulations of the calcium channel blocker nimodipine. These drugs are being developed to prevent delayed complications after subarachnoid hemorrhage (where today oral- or i.v.-administered nimodipine is employed but in suboptimal concentrations due to the generation of systemic side effects). Phase 2 studies for both NimoGel and NimoVent are planned for 2012.
For more information on Edge Therapeutics, Inc., please visit www.edgetherapeutics.com.