LEXINGTON, Mass., June 18, 2015 /PRNewswire/ -- Pulmatrix, Inc. (NASDAQ: PULM), a clinical stage biopharmaceutical company developing innovative inhaled therapies for serious pulmonary diseases, today announced the appointment of Michael Higgins to the Company's board of directors. Mr. Higgins is currently an entrepreneur-in-residence at Polaris Partners and served most recently as senior vice president, chief operating officer and chief financial officer of Ironwood Pharmaceuticals.
"We welcome Michael to the board and look forward to the more than 20 years of experience in the biopharmaceutical industry that he brings to Pulmatrix," said Robert W. Clarke, Ph.D., Chief Executive Officer of Pulmatrix. "His background and insight in corporate development and finance will serve as an ideal complement to the existing directors as Pulmatrix embarks on its next stage of development."
"Pulmatrix is building a unique platform for bringing novel inhaled pulmonary therapeutics to patients," said Mr. Higgins. "The company's proprietary candidate for the treatment of anti-fungal infections in cystic fibrosis patients provides an exciting initial product candidate for rare pulmonary diseases. In addition, the business has a strong foundation based on the clinical-stage inhaled drug candidate for COPD, which is being developed in collaboration with Mylan."
In January 2015, Mr. Higgins joined Polaris Partners as an entrepreneur-in-residence and currently serves as a board member at Genocea Biosciences. At Ironwood Pharmaceuticals Inc., Mr. Higgins led finance, operations and strategy efforts from 2003 to 2014, including its initial public offering and the launch of its first commercial product. Prior to 2003, Mr. Higgins spent seven years and held a variety of senior business positions at Genzyme Corporation, including vice president of corporate finance and vice president of business development. Prior to joining Genzyme Corporation, Mr. Higgins led Procept, Inc. through its initial public offering. Mr. Higgins earned a B.S. from Cornell University and an M.B.A. from the Amos Tuck School of Business Administration at Dartmouth College.
Pulmatrix is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary disease using its patented iSPERSE technology. The Company's proprietary product pipeline is focused on advancing treatments for rare diseases, including PUR1900, a, inhaled anti-fungal for patients with cystic fibrosis (CF) as well as PUR1500, an inhaled product for the treatment of idiopathic pulmonary fibrosis. In addition, Pulmatrix is pursuing opportunities in major pulmonary diseases through collaboration with partners. This includes PUR0200, a branded generic in clinical development for chronic obstructive pulmonary disease (COPD), and other potential first-in-class treatments. Pulmatrix's product candidates are based on iSPERSE, its proprietary dry powder delivery platform, which seeks to improve therapeutic delivery to the lungs by maximizing local concentrations and reducing systemic side effects to improve patient outcomes.
Pulmatrix Forward-Looking Statements
Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Pulmatrix cautions that such statements involve risks and uncertainties that may materially affect Pulmatrix's results of operations. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to the ability to establish that potential products are efficacious or safe in preclinical or clinical trials; the ability to obtain appropriate or necessary governmental approvals to market potential products; the ability to obtain future funding for developmental products and working capital; and the ability to secure and enforce legal rights related to the companies' products, including patent protection. A discussion of these and other factors, including risks and uncertainties with respect to Pulmatrix, is set forth in the registration statement on Form S-4 filed by Pulmatrix on April 15, 2015, as amended. Pulmatrix disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.