SAN DIEGO, May 8 /PRNewswire/ -- Cadence Pharmaceuticals, Inc., a hospital-focused biopharmaceutical company, today announced that William R. LaRue will join the company as Senior Vice President and Chief Financial Officer effective June 1, 2006 and Michael A. Royal, M.D., J.D. has joined the company as Vice President, Clinical Development, Analgesics. Cadence also announced that Michael A. Berman, M.D. has joined the board of directors, and William R. LaRue has resigned from the board of directors to accept his new position on the management team.
“We are extremely pleased to welcome Bill LaRue and Mike Royal to the Cadence senior leadership team,” said Ted Schroeder, President and CEO of Cadence. “Bill brings a wealth of experience as a public company CFO in the life sciences sector, and Mike is a tremendous fit to lead the IV APAP program with his background in anesthesiology and pain management as well as drug development experience in the pain area.”
Mr. LaRue has been Senior Vice President and Chief Financial Officer of CancerVax Corporation. Prior to CancerVax, he served as Executive Vice President and Chief Financial Officer of eHelp Corporation, a software provider, and as Vice President and Treasurer of Safeskin Corporation, a publicly traded medical device company. He has also served as Treasurer of GDE Systems, Inc., a high technology electronic systems company. Mr. LaRue received his B.S. in business administration and M.B.A. from the University of Southern California.
Dr. Royal was previously Chief Medical Officer of Solstice Neurosciences where he was responsible for research and development, as well as medical and regulatory affairs. Prior to Solstice, he served as Vice President, Strategic Brand Development and Vice President, Global Medical Affairs at Alpharma. Previously, Dr. Royal was Senior Medical Director for Elan Pharmaceuticals. Prior to industry, he owned and managed the largest private practice pain management clinic and research center in Oklahoma. He has also served as Director of the Acute Pain Service, Staff Anesthesiologist, and Assistant Professor of Anesthesiology and Critical Care Medicine at the University of Pittsburgh Medical Center. Dr. Royal is board certified in internal medicine, anesthesiology, pain management, and addiction medicine. He holds a B.S. in Chemistry from the Massachusetts Institute of Technology, an M.D. from the University of Massachusetts, a J.D. from the University of Maryland, and an M.B.A. from New York University’s TRIUM program.
“We are also delighted to add someone of Dr. Michael Berman’s stature and expertise to the Cadence board of directors,” said Cam Garner, Chairman of Cadence. “Mike’s experience both as a hospital-based physician and senior hospital executive will be a tremendous asset to the board and the company.”
Dr. Berman was formerly Executive Vice President and Director of New York Presbyterian Hospital, the fifth largest health system in the United States. He joined New York Presbyterian Hospital as Senior Vice President and Chief Medical Officer. Previously, he served as Professor and Chairman of the Department of Pediatrics at the University of Maryland School of Medicine. During his tenure at Maryland, Dr. Berman was elected president of University Physicians, Inc., the faculty practice plan for the University of Maryland, and also served as chairman of the physician’s and hospital’s malpractice self-insurance program and director of pediatric cardiology. Dr. Berman began his medical career as a pediatric cardiologist for the National Heart Institute at the National Institutes of Health and also held positions as the chief of clinical pediatric cardiology and director of the cardiac catheterization laboratory at the Yale University School of Medicine. Dr. Berman received his M.D. from the State University of New York Upstate Medical Center at Syracuse and subsequently completed his post-graduate training in pediatrics at the Johns Hopkins School of Medicine.
About Cadence Pharmaceuticals, Inc.
Cadence Pharmaceuticals, Inc. is a San Diego-based biopharmaceutical company focused on the development and commercialization of therapeutics utilized primarily in the hospital setting. The business of Cadence is driven by in-licensing and acquisition of late-stage development compounds and commercial-stage drugs. Cadence currently has two Phase III products in development, including one for the treatment of post-operative pain and one for the prevention of catheter-related infections.
For more information, contact Ted Schroeder, President and CEO, at 858- 436-1400, or visit our website at www.cadencepharm.com.
Cadence cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Cadence that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Cadence’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization, or that could result in recalls or product liability claims; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. All forward-looking statements are qualified in their entirety by this cautionary statement and Cadence undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.
Cadence Pharmaceuticals, Inc.
CONTACT: Ted Schroeder, President and CEO of Cadence Pharmaceuticals,Inc., +1-858-436-1400
Web site: http://www.cadencepharm.com//
