EXTON, Pa.--(BUSINESS WIRE)--AltheRx Pharmaceuticals, a privately-held clinical development company, today announced the appointment of Michael R Dougherty, former President and CEO of Adolor Corporation, to its Board of Directors. Effective immediately, Michael joins recently appointed board members Anthony Zook, former President and CEO of AstraZeneca North America, and Jeffrey O'Donnell, Managing Director of BioStar Ventures.
"We are extremely pleased about the dynamics we've assembled with this new Board," said Jim Bennethum, CEO. "Bringing together Michael, Anthony and Jeff, with their immeasurable experience in the operational, financing and marketing aspects of the healthcare industry, will help propel AltheRx towards success as we advance a late stage, medical breakthrough for the treatment of overactive bladder. Their participation and allegiance reaffirms our commitment to the advancement of solabegron."
Michael Dougherty was previously President and Chief Executive Officer of Adolor Corporation, and has held senior leadership positions at several additional life sciences companies, including Genaera Corporation, (formerly Magainin Pharmaceuticals Inc.) and Centocor, Inc. Michael is currently a member of the Board of Directors at ViroPharma Incorporated, Biota Pharmaceuticals, Inc and Cempra, Inc.
AltheRx is advancing its lead candidate solabegron into Phase III trials. Solabegron is a novel beta3-adrenoceptor agonist with high affinity and selectivity that is in development for the treatment of overactive bladder (OAB).
"Solabegron is a promising therapy with the potential to help many people suffering from overactive bladder," said Dougherty. "I'm pleased to be joining the AltheRx board to lend my support and expertise to help this drug reach patients in need."
About AltheRx Pharmaceuticals
Formed in 2010, AltheRx Pharmaceuticals is a privately held development company whose business model is to advance projects through clinical development and create partnerships with biopharmaceutical companies for commercialization. The Company's first product, solabegron, is a highly selective and potent beta3-adrenoceptor agonist in development for the reduction of symptoms of overactive bladder.
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