WALTHAM, Mass., Aug. 24, 2015 (GLOBE NEWSWIRE) -- AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) today announced that Joseph Vittiglio has joined the company as senior vice president, general counsel and secretary. In this position, Mr. Vittiglio will oversee all legal affairs of the company.
"We are pleased to welcome Joe to the executive team at AMAG," stated Frank Thomas, president and chief operating officer at AMAG. "Joe's legal expertise in the pharmaceutical industry and transaction experience will be a tremendous asset to AMAG as we continue to aggressively pursue the acquisition of products and companies that leverage our current therapeutic areas expertise and our corporate and commercial infrastructure."
Mr. Vittiglio has more than 18 years of legal and operations experience counseling biopharmaceutical and specialty pharmaceutical companies in product development, commercialization and launch, corporate finance and partnering transactions, governance and litigation. He most recently served as vice president of legal affairs and a member of the management committee at Flexion Therapeutics, Inc. From 2007 to 2015, Mr. Vittiglio served as general counsel of AVEO Pharmaceuticals. Prior to that, Mr. Vittiglio served as director of legal affairs at Oscient Pharmaceuticals Corporation. He began his legal career as an associate attorney at Gaffin & Krattenmaker, P.C. before joining Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC as a senior attorney in 1998 specializing in complex collaborations, securities law, mergers and acquisitions, and venture capital.
Mr. Vittiglio holds a bachelor's degree in international relations from Tufts University and a juris doctor from Northeastern University School of Law.
Inducement Equity Awards
In connection with Mr. Vittiglio's entering into employment with AMAG, the Board of Directors of AMAG approved awards to Mr. Vittiglio of (i) an option to purchase 30,000 shares of common stock and (ii) 15,000 restricted stock units. The option will have an exercise price equal to the closing price of AMAG's common stock on the grant date and will be exercisable in four equal annual installments beginning on the first anniversary of the grant date. The option will have a ten-year term and be subject to the terms and conditions of the stock option agreement pursuant to which the option will be granted. The restricted stock units will vest in three equal annual installments beginning on the first anniversary of the grant date and will be subject to the restricted stock unit agreement pursuant to which the restricted stock units will be granted. These equity awards will be granted without stockholder approval as inducements material to Mr. Vittiglio entering into employment with AMAG in accordance with NASDAQ Listing Rule 5635(c)(4).
As a high-growth specialty pharmaceuticals company, AMAG Pharmaceuticals uses its business and clinical expertise to bring therapeutics to market that provide clear benefits and improve people's lives. Based in Waltham, Mass., AMAG has a diverse portfolio of products in the areas of maternal health, anemia management and cancer supportive care. AMAG continues to work to expand the impact of these and future products for patients by delivering on its aggressive growth strategy, which includes organic growth, as well as the pursuit of products and companies that align with AMAG's existing therapeutic areas or those that could benefit from its proven core competencies. For additional company information, please visit www.amagpharma.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein which do not describe historical facts, including but not limited to statements regarding the contributions and responsibilities of Mr. Vittiglio and AMAG's plans to expand across specialty therapeutic areas and pursue products and companies are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include, among others, AMAG's ability to attract and retain key employees, and the resulting disruptions to AMAG's operations if we fail to do so and such other risks identified in AMAG's Securities and Exchange Commission (SEC) filings, including AMAG's Annual Report on Form 10-K for the year ended December 31, 2014, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, and subsequent filings with the SEC. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
AMAG Pharmaceuticals® is a registered trademark of AMAG Pharmaceuticals, Inc.
CONTACT: AMAG Pharmaceuticals, Inc. Contact: Maryann Cimino Manager, Corporate Communications & External Affairs 617-498-3375