New Board of Directors to support the commercialization of PLx Pharma Inc., and its lead Aspirin product.
HOUSTON (March 31, 2016) – PLx Pharma Inc. (PLx), a privately-held, late-stage specialty pharmaceutical company initially focused on developing its clinically validated and patentprotected PLxGuard™ delivery system to provide safer and more effective aspirin products, today announced the addition of four notable industry leaders to the Company’s Board of Directors. The new directors, appointed effective February 9, 2016 are Gary Balkema, former President of Bayer Healthcare LLC and Worldwide Consumer Care Division; Robert Casale, former COO of Adams Respiratory, Kirk Calhoun, former audit committee chair for Adams Respiratory; and John W. Hadden II, CEO for IRX Therapeutics. Each of the newly appointed individuals will be an independent board member.
“We are pleased to welcome Gary Balkema, Robert Casale, Kirk Calhoun and John W. Hadden II to the PLx board. Each brings a wealth of relevant commercial and pharmaceutical industry expertise in their respective fields,” said Michael J. Valentino, Executive Chairman, PLx Pharma Inc. “We are confident that their insights will strengthen the board and enthusiastic about the role they can play in helping PLx succeed.”
Gary Balkema
Mr. Balkema most recently served as the President of Bayer Healthcare LLC and Worldwide Consumer Care Division retiring in 2011. He joined Bayer in 1995 as President of the U.S. Consumer Care Division to merge two OTC drug businesses and repositioned Bayer Aspirin following a ten year decline into a growing business and assumed additional responsibilities over time culminating in leading their worldwide OTC business. Prior to Bayer, Mr. Balkema was Vice President and General Manager responsible for American Cyanamid Co.’s Lederle Consumer Health Division responsible for their OTC drug business. He joined American Cyanamid Co. in 1977 assuming increasing roles of responsibility over time. Mr. Balkema has served in the leadership of the key consumer products industry associations including Chairman of the Consumer Healthcare Products Association, Chairman of the World Self Medication Industry and on the leadership council for the National Association of Chain Drug Stores. Mr. Balkema currently serves as a Board Director of the Brady Corporation, is a member of the audit and technology committees and Chair of the compensation committee. Mr. Balkema will Chair the PLx Board’s nominating and corporate governance committee, as well as serve on the Board’s compensation committee and audit committee.
Robert Casale
Mr. Casale has 29 years of healthcare experience. Mr. Casale is currently an independent consultant specializing in consumer healthcare and pharmaceutical marketing, strategic planning and business development. He was the Co-founder and Chief Executive Officer of Scerene Healthcare, a company dedicated to marketing pure and efficacious anti-aging skin care and feminine hygiene products. The assets of Scerene were sold to Enaltus in 2012. Prior to Scerene, Mr. Casale was the Chief Operating Officer of Adams Respiratory Therapeutics. He was a driving force behind the growth of the company’s two main franchises; Mucinex and Delsym. Mr. Casale began his career in 1983 at a Wall Street law firm and joined the legal division of Warner Lambert in 1986. In 1993, he was appointed Warner-Lambert’s Vice President of Marketing for the company’s upper respiratory and gastrointestinal (GI) consumer products and oversaw several brands, including Benadryl, Sudafed, Zantac, Rolaids and Lubriderm. Following Warner-Lambert’s acquisition by Pfizer Inc., he served as Vice President, Strategic Planning and Business Development for Pfizer’s Consumer Healthcare Division. Mr. Casale will Chair the Board’s compensation committee, as well as serve on the Board’s nominating and corporate governance committee and audit committee.
Kirk Calhoun
Mr. Calhoun is a Certified Public Accountant (non-practicing) with a background in auditing and accounting. Mr. Calhoun joined Ernst & Young LLP, a public accounting firm, in 1965 and served as a partner of the firm from 1975 until his retirement in 2002. Mr. Calhoun currently serves on the board and audit committee of Great Basin Scientific, Inc. and Ryerson Holding Corporation. Mr. Calhoun has served previously on the boards and audit committees of five public companies in the pharmaceutical industry up until the dates of their respective sales, including Abraxis Bioscience, Inc., Myogen, Inc., Aspreva Pharmaceuticals Company, Replidyne, Inc. and Adams Respiratory Therapeutics, Inc. Mr. Calhoun also currently serves on the boards of two private companies. Mr. Calhoun received a B.S. in Accounting from the University of Southern California. Mr. Calhoun will Chair the Board’s audit committee, as well as serve on the Board’s nominating and corporate governance committee and compensation committee.
John W. Hadden II
Mr. Hadden has served as Chief Executive Officer of IRX Therapeutics since January 2007. Between 2004 and 2007, Mr. Hadden was IRX’s Chief Operating Officer. Between September 1998 and 2004, Mr. Hadden was Executive Vice President of IRX, and between June 1998 and 2001, Mr. Hadden was also the IRX’s Chief Financial Officer. Mr. Hadden has served as a director of IRX since 1999. From 1991 to 1995 and from 1997 to 1998, Mr. Hadden held various positions at JP Morgan & Co., Inc. Mr. Hadden’s transaction experience includes merger & acquisition, investment banking, and venture investing, including healthcare and biotechnology. In June 1997, he earned his M.B.A. from the Harvard University Graduate School of Business Administration. Mr. Hadden earned his B.S. in Management, summa cum laude, from Tulane University. Mr. Hadden will be a member of the Board’s audit, compensation, and nominating and corporate governance committees.
About PLx Pharma
PLx Pharma Inc. is a late-stage specialty pharmaceutical company initially focused on developing our clinically validated and patent-protected PLxGuard™ delivery system to provide safer and more effective aspirin products. Our PLxGuard™ delivery system works by releasing active pharmaceutical ingredients into the duodenum, the first part of the small intestine immediately below the stomach, rather than in the stomach itself. We believe this improves the absorption of many drugs currently on the market or in development, and reduces acute gastrointestinal (GI) side effects—including erosions, ulcers and bleeding—associated with aspirin and ibuprofen, and potentially other drugs. To learn more about the Company and its pipeline, please visit www.plxpharma.com.
