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Euthymics Bioscience, Inc. Appoints Industry Veterans Dr. Pierre Tran, Joan Manthis and William Pappafotopoulos to Senior Management Team


8/18/2010 9:14:52 AM

Cambridge, MA – August 18, 2010 - Euthymics Bioscience, Inc., a clinical-stage company developing next-generation antidepressants, today announced that Pierre Trân, M.D., and Joan Manthis have been appointed as Chief Medical Officer and Director of Clinical Operations, respectively. These new additions to Euthymics’ senior management team bring the company a wealth of drug development experience to support development of EB-1010, its novel antidepressant drug candidate. Also joining the management team is William T. Pappafotopoulos as Vice President of Finance and Administration. He brings extensive experience in finance and accounting operations.

EB-1010 is a novel, broad-spectrum monotherapy antidepressant intended for use by the estimated two-thirds of major depression patients who do not respond adequately to current treatments. Euthymics is preparing to initiate a Phase II/III clinical trial of EB-1010 in the first half of 2011.

“The additions of Pierre and Joan to the Euthymics clinical team mark an important step in Euthymics’ development, as we move forward as a clinical development-stage company,” said Anthony A. McKinney, President, CEO and Co-Founder of Euthymics. “Pierre’s and Joan’s proven success and impressive backgrounds in developing innovative CNS therapeutics will be invaluable as we focus on the implementation of the clinical development plan for EB-1010. We believe this novel drug candidate has great potential to serve the millions of patients with major depression who do not respond adequately to currently available medications.”

Mr. McKinney continued, “Bringing Bill into our company with his depth of experience in finance and accounting with both private industry and the U.S. government further strengthens our management team. Together, these three appointments provide Euthymics with the experience and expertise to develop our lead product candidate and move ahead with our clinical program. We welcome Pierre, Joan and Bill to our team."

Dr. Trân, who joins Euthymics as Chief Medical Officer, brings years of experience developing some of the most recognizable drugs in the antidepressant field. Dr. Trân served as Global Medical Director, Joint Antidepressant Group at Eli Lilly and Company where he was involved in the life-cycle management of fluoxetine (Prozac®). Importantly, Dr. Trân oversaw the clinical development effort that resulted in the successful regulatory approval of duloxetine (Cymbalta®) for the treatment of major depressive disorder and painful diabetic neuropathy. He was also involved in late-stage development and registration of Zyprexa® that led to its successful worldwide commercialization. After Lilly, he was Senior Vice President and Chief Medical Officer at XenoPort, and most recently, he served as Chief Medical Officer and Vice President, Clinical Development at Cortex Pharmaceuticals, where he led development efforts for several drug candidates targeting CNS disorders. Dr. Trân received an M.D. from the Université de Franche-Comté in France and a Masters in Medical Management (M.M.M.) from Tulane University. He completed his residency training at Duke University and holds an academic appointment as Assistant Consulting Professor in the Department of Psychiatry and Behavioral Sciences at Duke University Medical Center.

Ms. Manthis joins Euthymics as Director of Clinical Operations, bringing the company over 25 years of research and clinical trial management. Prior to joining Euthymics, Ms. Manthis served as Director of Clinical Operations at Orexigen Therapeutics. There, she was responsible for clinical operations for Contrave®, an investigational CNS drug for the treatment of obesity. Earlier in her career, Ms. Manthis worked at Eli Lilly and Company as Senior Clinical Development Associate, where she developed clinical programs in support of the Neuroscience Program Teams. Previously, Ms. Manthis held positions as Manager of Post-Marketing Research at MGI Pharma and as Senior Clinical Trial Leader and Clinical Research Supervisor at Medtronic, and she began her commercial career with positions of increasing responsibility at 3M Pharmaceuticals. She received an M.A. and a B.A. from the University of Minnesota.

Mr. Pappafotopoulos has been President and CEO of the Milton Financial Group, founded in 1985, serving venture capital, bioscience and financial firms, among others. Prior to forming the Milton Financial Group, Mr. Pappafotopoulos held financial, accounting and management positions in Fortune 100 companies, including Johnson & Johnson and Raytheon, and in the government, at the Internal Revenue Service. Mr. Pappafotopoulos received a B.S. in Accounting from Salem State University and an M.B.A. from Suffolk University.

About Euthymics Bioscience, Inc.

Euthymics Bioscience, Inc. is a neuroscience-focused clinical-stage company developing next-generation treatments for depression. Euthymics’ initial focus is on patients who do not respond adequately to selective serotonin reuptake inhibitors (SSRIs), which represent the majority of prescriptions for the antidepressant market. EB-1010 for depression is intended to improve efficacy as a single drug while reducing the leading side effects associated with poor adherence to standard antidepressants including weight gain and sexual dysfunction. Euthymics is a private Delaware corporation with headquarters in Cambridge, Massachusetts. Additional information can be found on the company’s website at www.euthymics.com.

Jennifer Anderson GendeLLindheim BioCom Partners, LLC 48 Wall Street, Suite 1100 New York, NY 10005 (212) 918-4642 janderson@biocompartners.com



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