Flexion Therapeutics Announces the Retirement of Neil Bodick, M.D., Ph.D., Chief Scientific Officer and Company Co-Founder

BURLINGTON, Mass., Dec. 10, 2019 (GLOBE NEWSWIRE) -- Flexion Therapeutics Inc. (Nasdaq:FLXN) today announced that Neil Bodick, M.D., Ph.D., Chief Scientific Officer, will retire effective January 3, 2020. Dr. Bodick co-founded Flexion in 2007 with Michael Clayman, M.D., the company’s President and Chief Executive Officer.

“Simply put, Neil is a unique talent whose extraordinary impact at Flexion has shaped who we’ve become as a company,” said Dr. Clayman. “His unparalleled intellect, scientific acumen and creativity coupled with an extraordinary commitment to win make him a singularly effective physician-scientist and executive. For me personally, this is bittersweet news as I have deep fondness for Neil and have so enjoyed what is now an almost 20-year working relationship with him which began at Lilly, well before we founded Flexion in 2007.”  

Dr. Bodick’s impressive career spans decades in both industry and academia. He served as Flexion’s Chief Medical Officer from 2007 through 2016. In that capacity, he developed the intellectual property estate underpinning Flexion’s first approved product, ZILRETTA^® (triamcinolone acetonide extended-release injectable suspension), and he guided its clinical development through FDA submission. Following ZILRETTA’s approval in October of 2017, Dr. Bodick transitioned to the role of Chief Scientific Officer where he oversaw the development of Flexion’s portfolio of new therapies for the treatment of musculoskeletal conditions including FX201, an investigational gene therapy for osteoarthritis, and FX301, a preclinical peripheral nerve block for control of post-operative pain.

Prior to co-founding Flexion, Dr. Bodick was at Eli Lilly, where he founded Chorus, a business unit conducting translational clinical research. In that organization, he served as Chief Operating Officer and Chief Medical Officer from 2000 through 2007. Dr. Bodick holds 16 patents in the areas of musculoskeletal therapeutics, neurodegenerative therapeutics, and computer science, and he is the recipient of the Biomedical Research Service Award and the New Investigator Research Award from the National Institutes of Health.

“Flexion’s evolution over the last 12 years has been a bumpy joy ride,” said Dr. Bodick. “In my experience, there is nothing more exciting and few things more challenging than turning science into medicine. Flexion has done that and is continuing to do so.”

Following Dr. Bodick’s retirement in January, he will continue in a consulting role as part of the transition of his responsibilities.

Indication and Select Important Safety Information for ZILRETTA^® (triamcinolone acetonide extended-release injectable suspension)

Indication: ZILRETTA (triamcinolone acetonide extended-release injectable suspension) is indicated as an intra-articular injection for the management of osteoarthritis pain of the knee. It is not intended for repeat administration.

Contraindication: ZILRETTA is contraindicated in patients who are hypersensitive to triamcinolone acetonide, corticosteroids or any components of the product.

Warnings and Precautions:

• Intra-articular Use Only: ZILRETTA has not been evaluated and should not be administered by epidural, intrathecal, intravenous, intraocular, intramuscular, intradermal, or subcutaneous routes. ZILRETTA should not be considered safe for epidural or intrathecal administration.
• Serious Neurologic Adverse Reactions with Epidural and Intrathecal Administration: Serious neurologic events have been reported following epidural or intrathecal corticosteroid administration. Corticosteroids are not approved for this use.
• Hypersensitivity reactions: Serious reactions have been reported with triamcinolone acetonide injection. Institute appropriate care if an anaphylactic reaction occurs.
• Joint infection and damage: A marked increase in joint pain, joint swelling, restricted motion, fever and malaise may suggest septic arthritis. If this occurs, conduct appropriate evaluation and if confirmed, institute appropriate antimicrobial treatment.

Adverse Reactions: The most commonly reported adverse reactions (incidence ≥1%) in clinical studies included sinusitis, cough, and contusions.

Please see ZilrettaLabel.com for full Prescribing Information.

About ZILRETTA
On October 6, 2017, ZILRETTA was approved by the U.S. FDA as the first and only extended-release intra-articular therapy for patients confronting osteoarthritis-related knee pain. ZILRETTA employs proprietary microsphere technology combining triamcinolone acetonide — a commonly administered, short-acting corticosteroid — with a poly lactic-co-glycolic acid (PLGA) matrix to provide extended pain relief. The pivotal Phase 3 trial on which the approval of ZILRETTA was based showed that ZILRETTA significantly reduced knee pain for 12 weeks, with some people experiencing pain relief through Week 16. Learn more at www.zilretta.com.

About FX201
FX201 is a locally administered gene therapy product candidate which utilizes a helper-dependent adenovirus (HDAd) vector, designed to stimulate the production of an anti-inflammatory protein, interleukin-1 receptor antagonist (IL-1Ra), whenever inflammation is present within the joint. Inflammation is a known cause of pain, and chronic inflammation is thought to play a major role in the progression of osteoarthritis (OA). By persistently suppressing inflammation, Flexion believes FX201 holds the potential to both reduce OA pain and modify the disease.

About FX301
FX301 is a locally administered NaV1.7 inhibitor product candidate formulated for extended release in a thermosensitive hydrogel. The initial development of FX301 is intended to support administration as a peripheral nerve block for control of post-operative pain. Flexion believes FX301 has the potential to provide effective pain relief while preserving motor function and anticipates initiating clinical trials in 2021.

About Flexion Therapeutics
Flexion Therapeutics (Nasdaq:FLXN) is a biopharmaceutical company focused on the development and commercialization of novel, local therapies for the treatment of people with musculoskeletal conditions, beginning with osteoarthritis, the most common form of arthritis. Flexion is building a portfolio of non-opioid therapeutics, with the goal of making a meaningful difference in the lives of patients. The Company's core values are focus, ingenuity, tenacity, transparency and fun. Visit flexiontherapeutics.com.

Contacts:

Scott Young
Vice President, Corporate Communications & Investor Relations
Flexion Therapeutics, Inc.
T: 781-305-7194
syoung@flexiontherapeutics.com

Julie Downs
Senior Manager, Corporate Communications & Investor Relations
Flexion Therapeutics, Inc.
T: 781-305-7137
jdowns@flexiontherapeutics.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/573573db-02d1-4364-822a-da1e6cda675a