Apnimed Announces New Leadership Appointments as the Company Builds Its Commercial and Human Resource Capabilities in Support of AD109, a Potential Nighttime Oral Treatment for Obstructive Sleep Apnea

CAMBRIDGE, Mass., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Apnimed, Inc., a clinical-stage pharmaceutical company focused on developing oral pharmacologic therapies for the treatment of obstructive sleep apnea (OSA) and related disorders, today announced Graham Goodrich has joined the company as Chief Commercial Officer and Ted Harding as Chief Human Resources Officer. The addition of Goodrich and Harding are critical new hires as Apnimed prepares to launch AD109 (aroxybutynin/atomoxetine), a potential nighttime oral treatment currently in Phase 3 that could transform the treatment paradigm for millions of OSA patients.

Graham Goodrich has an extensive track record of commercial success in launching and marketing transformative brands. Recently, as a member of the Commercial leadership team and SVP of Migraine Market at Biohaven, Goodrich led a team that developed a novel brand strategy, go-to-market model and promotion plan to launch Nurtec® ODT in the midst of the Covid-19 pandemic. After a successful launch and achieving category leadership, Pfizer acquired the Biohaven Migraine franchise assets and capabilities in October 2022 for $11.6 billion. Post-acquisition, Goodrich served as the US Migraine Franchise Lead at Pfizer throughout 2023.

Prior to Biohaven, Goodrich held the role of VP, Cardiometabolic Marketing at Boehringer Ingelheim and was the leader of a diverse portfolio of pre-launch, newly-launched and mature cardiometabolic assets including Jardiance®, Tradjenta®, Basaglar® and Pradaxa®, totaling more than $3.5 billion in annual new sales. He also has experience in direct sales and marketing strategy for Merck & Co.’s Gardasil® vaccine franchise. In all, Goodrich has more than 25 years of experience working on iconic, blockbuster brands in neurology, respiratory, immunology and cardiometabolic health. He received his MBA from the University of Michigan, and his BS from Wake Forest University.

“I’m inspired by opportunities to drive fundamental paradigm changes in therapeutic areas, like sleep disorders, that are ripe for disruption through novel interventions that can radically advance the standard of care,” Goodrich said. “Apnimed is leading the industry in the development of an oral pharmacologic that has the potential to help millions of people with OSA whose needs are not being met by current treatment options.”

Ted Harding is a senior executive leader who has guided and built the culture and human resources infrastructure at biotech companies that have included Jounce Therapeutics and Enobia Pharma, among many others. He has been the head of human resources for ten companies on either a full-time or interim basis, and has prior experience in the electric utility, telecommunications, and clean energy sectors. Harding has a Master of Industrial and Labor Relations from Cornell University, and a BA from Hamline University.

“Apnimed is at a significant inflection point in their growth and is building a highly capable and experienced team to develop and launch AD109 as well as advance other groundbreaking portfolio candidates. I’m excited to help further develop a company that will have such a profound impact on the lives of OSA patients,” Harding said.

“We are thrilled to have attracted two senior executive leaders with the ability to drive and manage change as we build our commercial capabilities for AD109,” said Larry Miller, M.D., Chief Executive Officer of Apnimed.

About AD109
AD109 has the potential to be the first oral pharmacologic that could both treat the underlying nighttime airway obstruction and hypoxia that characterize OSA, as well as improve the daytime consequences of OSA, such as fatigue. It is a first-in-class, novel, investigational combination dosed once daily at bedtime and is designed to treat OSA patients across a broad spectrum of disease severity. AD109 combines Apnimed’s novel selective antimuscarinic (aroxybutynin) with a selective norepinephrine reuptake inhibitor (atomoxetine). AD109 targets key neurological pathways in OSA that activate upper airway dilator muscles to maintain an open airway during sleep. AD109 has the potential to become a safe, effective, and convenient treatment for OSA, addressing some of the key limitations of approved treatments that can be poorly tolerated (e.g., CPAP and oral devices) and/or invasive (e.g., surgery or implanted devices).

AD109 has been granted Fast Track designation by the FDA and is currently in Phase 3. Topline results from the Phase 3 program are expected in the first half of 2025.

About Obstructive Sleep Apnea
Obstructive Sleep Apnea is one of the most common and serious sleep disorders. It is estimated to affect more than 45 million Americans, though underdiagnosis continues to be a serious problem and the number of affected Americans may be far greater. OSA is characterized by partial or complete upper airway closure that occurs during sleep, which can cause dramatic reductions in overnight oxygen saturation and often leads to poor sleep, and in the long term, has been shown to exacerbate hypertension, diabetes, cardiovascular disease, and stroke. Additionally, OSA can impair work productivity, reduce daytime functional abilities, and lower quality of life. Sleep-related muscular relaxation driven by the central nervous system is the key neurologic mechanism that causes OSA. In patients with OSA, a reduction in neuromuscular control of the upper airway during sleep leads to a corresponding relaxation of the upper airway dilator muscles. The vast majority of diagnosed patients are prescribed positive air pressure therapy devices such as continuous positive airway pressure, or CPAP, but many patients are dissatisfied with these mechanical nighttime devices and fewer than half are compliant long term, leaving a significant population untreated, undertreated and at risk. Some OSA patients are overweight or obese, and sustained weight loss can reduce the severity of airway collapse and some symptoms. However, even substantial weight loss has not been shown to be curative in most patients or reduce the need for treatments that help maintain an open airway during sleep.

About Apnimed
Apnimed is a clinical-stage pharmaceutical company working to transform the treatment of sleep apnea based on a simple idea – patients with obstructive sleep apnea could benefit from treatment with a safe and effective oral medication dosed once daily at bedtime. Apnimed’s lead development program AD109 targets the neurologic control of upper airway muscles to maintain an open airway during sleep. Based in Cambridge, Mass., the company is developing a portfolio of novel pharmacologic therapies for sleep apnea and related disorders. Several novel, oral pharmacologic pipeline programs are in partnership with Shionogi & Co., Ltd. as part of the Shionogi-Apnimed Sleep Science, LLC Joint Venture. Learn more at apnimed.com or follow us on X and LinkedIn.

Media Contact:
Amanda Breeding
ScientPR
amanda@scientpr.com

Investor Contact:
Wendy Gabel
Kendall Investor Relations
wgabel@kendallir.com

Photos accompanying this announcement are available at:

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Graham Goodrich, Chief Commercial Officer, Apnimed, Inc.
Graham Goodrich is Chief Commercial Officer of Apnimed, Inc., a clinical-stage pharmaceutical company focused on developing oral pharmacologic therapies for the treatment of obstructive sleep apnea (OSA) and related disorders.
Ted Harding, Chief Human Resources Officer, Apnimed, Inc.
Ted Harding is Chief Human Resources Officer of Apnimed, Inc., a clinical-stage pharmaceutical company focused on developing oral pharmacologic therapies for the treatment of obstructive sleep apnea (OSA) and related disorders.

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