January 13, 2014 08:00 | Source: Alcobra Ltd.
Led Efforts to Build Shire's Pipeline of ADHD and CNS Products
Launched Vyvanse®, the #1 ADHD Brand in the U.S.
Brand management experience on five different billion dollar brands across three therapeutic categories
TEL AVIV, Israel, Jan. 13, 2014 (GLOBE NEWSWIRE) -- Alcobra Ltd. (Nasdaq:ADHD), an emerging biopharmaceutical company primarily focused on the development and commercialization of its proprietary drug candidate, MG01CI (Sustained-Release Metadoxine), to treat cognitive dysfunction, announced today that it has appointed David C. Baker as Chief Commercial Officer. Mr. Baker will be responsible for all pre-commercial activity for MG01CI and will lead the effort to establish brand awareness for the product in the medical community. He will also evaluate new opportunities for MG01CI, and other molecules in Alcobra's pipeline and will support general investor and public relations at the company.
"We are delighted to have David join the Alcobra team," said Dr. Yaron Daniely, President and Chief Executive Officer of Alcobra Ltd. "His proven success in product and business development and his experience at the forefront of building leading pharmaceutical brands, particularly in ADHD, will be great assets to Alcobra. MG01CI is advancing in the clinic as we have secured the necessary resources to fund the Company through planned submissions of NDA and sNDA filings for adult ADHD, pediatric ADHD and Fragile X Syndrome. As we move forward, David will oversee all prelaunch commercial activities including branding and positioning. We are confident he has the right skill set to execute on our plan during this exciting time for Alcobra."
"I am thrilled to be joining Alcobra, and I believe that MG01CI will be a differentiated product with the potential to address a large unmet medical need in the treatment of adult and pediatric ADHD, Fragile X Syndrome, and potential other indications," said David Baker, Alcobra's newly appointed Chief Commercial Officer. "I look forward to helping the company in bringing this innovative product to the market and achieving its strategic goals of building a world-class commercial operation."
Mr. Baker joins Alcobra after serving 10 years at Shire, most recently as Vice President of Commercial Strategy and New Business in the Neuroscience Business Unit. In this role he led the commercial assessment of neuroscience licensing opportunities, managed commercial efforts on pipeline CNS products, and led the long term strategic planning process. Previously, he served as Global General Manager for Vyvanse® where he led a global cross-functional team responsible for the development, manufacture, and commercialization of Vyvanse and Adderall XR®. He led the launch of Vyvanse in 2007, oversaw the launch of the adult indication for Vyvanse in 2008, and led global expansion efforts to take Shire's ADHD portfolio beyond North America including successful establishment of a partnership in Japan and launches in Canada and Brazil. Prior to that, Mr. Baker served as Vice President of Marketing for all of Shire's ADHD products. Under his leadership, Adderall XR became the number one selling ADHD brand in the US, Daytrana® was launched as the first ADHD patch, and late stage development and pre-launch commercial efforts for Intuniv® were completed.
From 1990 - 2004, Mr. Baker worked at Merck where he held positions of increasing responsibility in marketing, sales, market research, and business development.
In addition to his knowledge and experience with CNS medications, Mr. Baker's therapeutic expertise includes osteoporosis, migraine, and hyperlipidemia. He has been directly involved with the marketing of five leading prescription drugs with annual sales in excess of $1 billion each: Mevacor®, Zocor®, Fosamax®, Adderall XR, and Vyvanse.
Mr. Baker graduated Magna Cum Laude with a bachelor's degree in Economics and Computer Science from Duke University. He earned a Master of Business Administration in Marketing from Duke's Fuqua School of Business.
About Alcobra Ltd.
Alcobra Ltd. is an emerging biopharmaceutical company primarily focused on the development and commercialization of a proprietary drug candidate, MG01CI, to treat cognitive dysfunctions including Attention Deficit Hyperactivity Disorder (ADHD) and Fragile X Syndrome. MG01CI has completed Phase II studies to treat Attention Deficit Hyperactivity Disorder. The company was founded in 2008 and is headquartered in Tel Aviv, Israel. For more information please visit the Company's website, www.alcobra-pharma.com, the content of which is not incorporated herein by reference.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Because such statements deal with future events and are based on Alcobra's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Alcobra could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding Mr. Baker's responsibilities and successful execution thereof, including building a world-class commercial operation, the sufficiency of our financial resources to achieve certain milestones, submission of NDA and sNDA filings for certain cognitive dysfunctions and bringing the products underlying such filings to the market as well as causing MG01CI to be a differentiated product that would address a large unmet medical need in a variety of indications. In addition, historic results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials would not suggest different conclusions or that historic results referred to in this press release would be interpreted differently in light of additional research and clinical and preclinical trials results. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Alcobra Ltd.'s registration statement on Form F-1/A filed with the Securities and Exchange Commission ("SEC") on October 22, 2013, and in subsequent filings with the SEC. Except as otherwise required by law, Alcobra disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.
U.S. Investor Contact:
LifeSci Advisors, LLC
Michael Rice
646-597-6979
Israel Investor Contact:
Alcobra Investor Relations
Debbie Kaye
+972-72 2204661