CAMBRIDGE, MA--(Marketwired - December 17, 2013) -
Radius Health, Inc. ("Radius") announced today the appointment of Robert Ward as President and Chief Executive Officer. Mr. Ward takes on the role of CEO at a dynamic time when Radius is advancing its osteoporosis program in late-stage human clinical trials: The lead program, BA058-SC -- a potentially best-in-class bone-building anabolic agent -- is on track with pivotal phase 3 results expected at the end of 2014; in addition, the company is developing an injection-free transdermal version of BA058 (BA058-TD) currently in Phase 2 evaluation and another asset, also in phase 2, with promise in a highly specialized and high-unmet-need indication.
Mr. Ward brings to Radius more than 26 years of experience as a global pharmaceutical industry leader managing all stages of drug development, commercialization, and strategic dealmaking and partnerships across multiple therapeutic areas, most recently as the Head of Strategy and Alliances, New Opportunities at AstraZeneca.
Mr. Ward has also been appointed to the Board of Directors for Radius. He succeeds C. Richard Lyttle, PhD, who has been serving as interim President and CEO as well as Chairman of the Scientific Advisory Board. Dr. Lyttle will continue in his role as Chairman of Radius' Scientific Advisory Board.
"We are delighted that Bob is joining the company at such an exciting time," said Kurt Graves, Chairman of Radius' Board of Directors and President and CEO of Intarcia Therapeutics. "Bob is a proven industry leader with a long track record of advancing important new therapies and executing business development strategies to build significant value for patients and shareholders alike. He has very deep expertise in all aspects of osteoporosis, and his strong business leadership and success in launching new products, registering new indications, and developing new line extensions -- including drug delivery and optimizing intellectual property -- will be a substantial asset for the company given our late stage of development and multi-drug pipeline. We have great confidence in Bob's ability to guide Radius as the company moves closer to bringing its innovative osteoporosis and women's health products to patients."
"I am excited to take on this leadership role at Radius as the company moves toward completion of the BA058 Phase 3 pivotal study and next steps to advance the company's Phase 2 transdermal patch program," said Mr. Ward. "BA058 is positioned as a potential best-in-class drug for the expanding and underserved osteoporosis market, with the potential to transform patients' lives, improve health outcomes, and build significant value for shareholders. My goal is to make this vision a reality as the Radius team now prepares for final phase 3 results and our next stage of rapid growth following the anticipated commercialization of BA058, including the advancement of other breakthrough medicines we have in the pipeline for serious women's health diseases."
Mr. Ward is a pharmaceutical industry leader with a diverse and extensive pharmaceutical industry background spanning 26 years focused on biopharmaceutical drug development, commercialization, corporate development, and product life-cycle management. Prior to leading Radius, from 2011 to 2013, Mr. Ward was Vice President of Strategy & Alliances, New Opportunities for AstraZeneca, where he oversaw strategic drug development collaborations and licensing. Mr. Ward has held a series of progressive management and executive roles with established companies such as NPS Pharmaceuticals, Schering-Plough (Merck), Bristol-Myers Squibb, and Genentech. He received an M.A. in Immunology from The Johns Hopkins University School of Medicine and an M.S. in Management from the New Jersey Institute of Technology.
About Radius Health
Radius Health is a biopharmaceutical company focused on developing novel, differentiated therapeutics for the treatment of osteoporosis and other women's health conditions. The company's lead product candidate, BA058, is a novel synthetic peptide analog of PTHrP (human parathyroid hormone-related protein, a naturally occurring bone-building hormone) in development in both injection (BA058-SC) and transdermal (BA058-TD) methods of administration to reduce the risk of complications associated with osteoporosis, such as fracture. Radius and 3M Drug Delivery Systems are collaborating on the development and commercial supply of BA058-TD. Radius is also developing its novel Selective Estrogen Receptor Modulator (SERM) for postmenopausal hot flashes and other emerging specialized indications that have significant unmet needs.
Safe Harbor for Forward-Looking Statements
Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the prospects or potential for BA058, BA058-SC, BA058-TD and other product candidates, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to Radius or its management, may identify forward-looking statements. Radius cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by Radius to secure and maintain relationships with collaborators; risks relating to clinical trials; risks relating to the commercialization, if any, of Radius' proposed product candidates (such as marketing, regulatory, patent, product liability, supply, competition, and other risks); dependence on the efforts of third parties; dependence on intellectual property; and risks that Radius may lack the financial resources and access to capital to fund our operations. Further information on the factors and risks that could affect Radius' business, financial condition and results of operations are contained in Radius' filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. The forward-looking statements represent Radius' estimate as of the date hereof only, and Radius specifically disclaims any duty or obligation to update forward-looking statements.
Chief Financial Officer