PARSIPPANY, N.J.--(BUSINESS WIRE)--Pacira Pharmaceuticals, Inc. (NASDAQ: PCRX) today announced the appointment of James B. Jones, MD, PharmD, to the position of senior vice president and chief medical officer. Dr. Jones brings more than 25 years of experience as both a practicing and teaching physician and as a senior executive at biotechnology and pharmaceutical companies, where he led the clinical development of multiple novel pain therapeutics. At Pacira, he will be primarily responsible for overseeing and guiding the company's clinical research and development efforts for the expanded uses of EXPAREL® (bupivacaine liposome injectable suspension) and the company's DepoFoam® pipeline of products. Dr. Jones replaces former chief medical officer Gary Patou, MD, who will remain with the company as a clinical consultant.
"We thank Gary for his six years of service ensuring the development and approval of EXPAREL and look forward to his continued contribution to Pacira."
"Jim's proven vision, expertise and strong background in the clinical development of pain products will play an important role in our overall strategy to augment our leadership and support the company's growth," said Dave Stack, president, chief executive officer and chairman of Pacira. "We believe he is well positioned to provide the passion and systematic approach for the continued clinical development of EXPAREL and our internal opportunities and to properly assess external initiatives." Mr. Stack added, "We thank Gary for his six years of service ensuring the development and approval of EXPAREL and look forward to his continued contribution to Pacira."
Dr. Jones has worked on various analgesics, such as nonsteroidal anti-inflammatory drugs (NSAIDs), and CNS compounds throughout his career. He was most recently vice president at The Medicines Company, where he was responsible for the submission and approval of IONSYS® (fentanyl iontophoretic transdermal system) in the United States and for directing the delivery system's application and submission process in the European Union. Previously, he was chief medical officer at Cara Therapeutics, where he oversaw the Phase 2 clinical development of the lead product candidate CR845, a peripherally-restricted kappa opioid agonist. Dr. Jones is a practicing Board Certified Emergency Medicine physician, having received his Doctorate of Medicine degree from the University of Pennsylvania and his Bachelor of Science and Doctorate of Pharmacy degrees from Purdue University.
"I'm pleased to join the Pacira management team at this opportune time," said Dr. Jones. "I believe this organization and its pipeline of products will change the way medicine and patient care is practiced, starting with the acute care postsurgical setting within the hospital. EXPAREL is not only a highly differentiated, long-acting local analgesic, but is also unparalleled today in terms of its clinical utility and market opportunity as a non-opioid option. As EXPAREL use broadens and we commence with the preparatory clinical work for our DepoFoam-based products, generating the appropriate clinical data to support FDA approval and bolster physician use will be crucial to the company's long-term success. I look forward to assisting the executive team in making the proper resource decisions, executing the right studies and charting our clinical path forward."
Pacira Pharmaceuticals, Inc. (NASDAQ: PCRX) is a specialty pharmaceutical company focused on the clinical and commercial development of new products that meet the needs of acute care practitioners and their patients. The company's flagship product, EXPAREL® (bupivacaine liposome injectable suspension), indicated for single-dose infiltration into the surgical site to produce postsurgical analgesia, was commercially launched in the United States in April 2012. EXPAREL and two other products have successfully utilized DepoFoam®, a unique and proprietary product delivery technology that encapsulates drugs without altering their molecular structure, and releases them over a desired period of time. Additional information about Pacira is available at www.pacira.com.
EXPAREL (bupivacaine liposome injectable suspension) is currently indicated for single-dose infiltration into the surgical site to produce postsurgical analgesia. The product combines bupivacaine with DepoFoam®, a proven product delivery technology that delivers medication over a desired time period. EXPAREL represents the first and only multivesicular liposome local anesthetic that can be utilized in the peri- or postsurgical setting. By utilizing the DepoFoam platform, a single dose of EXPAREL delivers bupivacaine over time, providing significant reductions in cumulative pain score with up to a 45 percent decrease in opioid consumption; the clinical benefit of the opioid reduction was not demonstrated. Additional information is available at www.EXPAREL.com.
Forward Looking Statements
Any statements in this press release about our future expectations, plans, outlook and prospects, and other statements containing the words "believes," "anticipates," "plans," "estimates," "expects," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks relating to: the success of our sales and manufacturing efforts in support of the commercialization of EXPAREL; the rate and degree of market acceptance of EXPAREL; the size and growth of the potential markets for EXPAREL and our ability to serve those markets; our plans to expand the use of EXPAREL to additional indications and opportunities, including nerve block, oral surgery and chronic pain, as well as pediatrics, and the timing and success of any related clinical trials; the related timing and success of a United States Food and Drug Administration supplemental New Drug Application; the adverse effects and impacts of FDA warning letters; the outcome of the U.S. Department of Justice inquiry; our plans to evaluate, develop and pursue additional DepoFoam-based product candidates; clinical studies in support of an existing or potential DepoFoam-based product; our plans to continue to manufacture and provide support services for our commercial partners who have licensed DepoCyt(e); our commercialization and marketing capabilities; our and Patheon UK Limited's ability to successfully and timely construct dedicated EXPAREL manufacturing suites; and other factors discussed in the "Risk Factors" of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2014, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 and in other filings that we periodically make with the SEC. In addition, the forward-looking statements included in this press release represent our views as of the date of this press release. Important factors could cause our actual results to differ materially from those indicated or implied by forward-looking statements, and as such we anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Pacira Pharmaceuticals, Inc.
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