MENLO PARK, Calif., April 28, 2015 (GLOBE NEWSWIRE) -- Corium International, Inc. (Nasdaq:CORI), a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty transdermal products, today announced that Joseph J. Sarret, M.D., J.D. has joined the Company in the newly created position of Chief Business Officer. Reporting to Corium's President and Chief Executive Officer, Peter D. Staple, Dr. Sarret will serve as a member of the company's executive leadership team with responsibility for developing and implementing Corium's business strategies, building new alliances and expanding existing ones, and pursuing new business initiatives that leverage Corium's advanced transdermal technologies and product candidates.
"Joe is joining Corium at an important phase in the Company's growth, as we advance our portfolio of proprietary and partnered development programs," said Mr. Staple. "With his extensive experience in establishing high-value partnering relationships, Joe will be assuming responsibility for business initiatives that leverage our capabilities and product assets, and will contribute broadly to our future as a leader in developing first-in-patch products that can improve health outcomes and quality of life for patients."
"This is an exciting time to join Corium, as I have the opportunity to work with an accomplished team in taking the company to the next level based on proven technology platforms, a track record in transdermal innovation, and proprietary pipeline assets," said Dr. Sarret. "I am looking forward to helping Corium realize the potential of its technologies across small molecules, biologics and vaccines and in pursuing new business opportunities for the company's proprietary programs."
Most recently, Dr. Sarret served as Senior Vice President, Strategic Accounts at Solazyme, Inc., a publicly traded company focused on developing renewable products for a variety of industries, and as Chief Executive Officer and a member of the Board of Directors of Sevident, Inc., a start-up biotechnology company developing medical diagnostics and life science research products. Prior to joining Solazyme, Dr. Sarret held positions of increasing responsibility from 2005 to 2012 at Codexis, Inc., a publicly traded international industrial biotechnology company, including Senior Vice President and Chief Business Officer, and President, Pharmaceutical Services and Enzyme Products. At Codexis, he was responsible for numerous strategic partnerships in the pharmaceutical and bioindustrial sectors, including multi-product development and supply agreements, acquisitions, and licensing transactions. In addition, Dr. Sarret had P&L responsibility for the company's global pharmaceutical ingredient manufacturing business unit, which had annual sales of approximately $50 million. Previously, he practiced corporate and transactional law at Latham & Watkins LLP. Dr. Sarret also served as Attending Physician and Acting Medical Director for the HIV Clinic at the University of California, San Francisco Medical Center. Dr. Sarret holds a B.A. in Human Biology from Stanford University, an M.D. from the University of California, San Francisco School of Medicine and a J.D. from Stanford Law School, and is a member of the Phi Beta Kappa, Alpha Omega Alpha and Order of the Coif honor societies.
Corium International, Inc. is a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty pharmaceutical products that leverage the company's advanced transdermal and transmucosal delivery systems. Corium has developed and is the sole commercial manufacturer of six prescription drug and consumer products with partners Teva Pharmaceuticals, Par Pharmaceutical and Procter & Gamble. The company has two proprietary transdermal platforms: Corplex™ for small molecules and MicroCor®, a biodegradable microstructure technology for small molecules and biologics, including vaccines, peptides and proteins. The company's late-stage pipeline includes a contraceptive patch co-developed with Agile Therapeutics that is currently in Phase 3 trials, and additional transdermal products that are being co-developed with Teva. Corium has multiple proprietary programs in preclinical and clinical development for the treatment of osteoporosis and neurological disorders. For further information, please visit www.coriumgroup.com.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our business strategy, clinical trial plans and the advancement of our technologies and our proprietary and partnered products and product candidates. Forward-looking statements are based on management's current expectations and projections and are subject to risks and uncertainties, which may cause Corium's actual results to differ materially from the statements contained herein. Further information on potential risk factors that could affect Corium's business and its financial results are detailed in Corium's Quarterly Report on Form 10-Q for the quarter ended December 31, 2014, filed with the Securities and Exchange Commission on February 12, 2015, and other reports as filed from time to time with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements, especially guidance on future financial performance, which speaks only as of the date they are made. Corium undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.
CONTACT: Investor and Media Contact: Karen L. Bergman BCC Partners [email protected] 650-575-1509
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