Biopharmaceutical Industry Veterans Join Inspiration Biopharmaceuticals Board of Directors

CAMBRIDGE, Mass., Sept. 18, 2012 /PRNewswire/ -- Inspiration Biopharmaceuticals, Inc. (Inspiration) announced today the appointment of two new independent Directors to the Company’s Board of Directors. Scott A. Canute and Gino Santini provide Inspiration access to unparalleled expertise in biopharmaceuticals manufacturing and business development as the company moves toward commercialization of its portfolio of products currently in late-stage development for hemophilia. The new independent Directors were appointed by specialty pharmaceutical company Ipsen, who holds rights to commercialize Inspiration’s two late-stage hemophilia product candidates in Europe and certain other territories. Ipsen gained the right to designate two new members to Inspiration’s board under the terms of agreements announced by the companies on August 21, 2012.

“We are pleased to have our Board enhanced by these talented executives,” said John Taylor, Co-Founder and Chairman of the Board of Inspiration. “They deeply understand Inspiration’s mission to broaden treatment choices, expand global access to care and advance innovative therapies for the hemophilia community. Each brings a unique set of experiences that will be instrumental to Inspiration as we continue to develop as an independent company and work to create new products to help people with hemophilia.”

Scott A. Canute has over 30 years of experience in the biopharmaceutical industry. He has most recently served as the President of Global Manufacturing and Corporate Operations and Executive Vice President of Genzyme Corporation from March 2010 to July 2011, leading a major turnaround effort for the manufacturing division of the global biotechnology company. Prior to that, Mr. Canute spent 25 years at Eli Lilly and Company in a variety of positions culminating in his becoming President of Manufacturing in 2004. Mr. Canute is currently a board member of Oncobiologics, Inc. and has been a past board member of the Indiana Manufacturers Association and the National Association of Manufacturers. Mr. Canute holds a Bachelor of Science Degree in Chemical Engineering from the University of Michigan and a Master of Business Administration from the Harvard Business School.

Gino Santini is a senior advisor for venture capital, pharmaceutical and biotechnology companies. He is currently a board member of AMAG Pharmaceuticals, Horizon Pharma, SORIN SpA, Allena Pharmaceuticals and Collegium Pharmaceuticals. He retired from Eli Lilly and Company in 2011 as Senior Vice President of Corporate Strategy and Business Development after 27 years with the company, where he had been a member of the Executive Committee since 2004. From 1999 to 2004, he was President of U.S. Operations. Mr. Santini is a past Chairman of the Board of the National Pharmaceutical Council. He also served on the Board of Directors of the United Way and the Executive Committee and Board of the Indianapolis Chamber of Commerce. Mr. Santini holds a degree in mechanical engineering from the University of Bologna and a Master of Business Administration from the Simon School of Business, University of Rochester.

“These new appointments to our Board of Directors bring critical expertise to Inspiration,” said John P. Butler, Chief Executive Officer. “Scott and Gino have vast experience in areas that are vital to us as a growing biopharmaceutical company on the verge of commercialization. Scott’s manufacturing expertise is unparalleled in the industry. Gino has decades of experience in the development and negotiation of strategic partnerships and alliances, which will help Inspiration choose the best path as we move forward. With these additions, Inspiration’s Board of Directors is ideally suited to help us develop innovative treatment options that meet the needs of the global hemophilia community.”

More information about Inspiration’s Board of Directors is available on the Board of Directors page at www.inspirationbio.com.

About Inspiration Biopharmaceuticals

As the only biopharmaceutical company dedicated solely to hemophilia, Inspiration is committed to improving the care of people with this condition by broadening treatment choices, expanding global access to care and advancing innovative therapies. Founded by two families whose sons have hemophilia, Inspiration is inspired to make a difference in the lives of people impacted by hemophilia around the world. Inspiration’s lead product candidates are IB1001, an investigational intravenous recombinant factor IX being developed for the treatment of hemophilia B, and OBI-1, an investigational recombinant porcine factor VIII being developed for the treatment of serious bleeds in patients with congenital hemophilia A with inhibitors or acquired hemophilia A.

For more information about Inspiration Biopharmaceuticals, please visit www.inspirationbio.com.

SOURCE Inspiration Biopharmaceuticals, Inc.