Benuvia Appoints Terry Novak as New CEO

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Sep 10, 2024, 09:00 ET

Mr. Novak brings three decades of executive leadership experience in the pharmaceutical, biotech, and contract development and manufacturing organization (CDMO) industries

ROUND ROCK, Texas, Sept. 10, 2024 /PRNewswire/ -- Benuvia Operations, LLC, a leader in the development and manufacturing of cannabinoid, psychedelic, and controlled substance products, today announced the company has appointed Terry Novak to the role of Chief Executive Officer. Mr. Novak replaces Darwin Richardson, who has left the company to pursue other opportunities.

"Terry is an accomplished industry executive with deep commercial, manufacturing, and transaction expertise and a significant track record building and scaling CDMO businesses. We are honored to have someone of Terry's caliber lead Benuvia forward," commented Todd Davis, lead director of Benuvia.

Mr. Novak has 30 years of executive leadership experience in the pharmaceutical, life sciences, and CDMO industries. He has held multiple C-suite CDMO positions over his career, including at pharmaceutical manufacturer Bright Path Laboratories, where he most recently served as Chief Commercial & Operations Officer; Norwich Pharmaceuticals, where he served as President; Patheon, where he served as President for North America; and DSM Pharmaceuticals, where he held the role of President. He started his career at Bristol-Myers Squibb, where he spent 15 years in sales management roles of increasing responsibility. Mr. Novak has served on the Board of Directors of several innovative life sciences companies, including Salubrent Pharma Solutions, Minutemen Life Sciences, Pernix Therapeutics Ireland, Curaxis Pharmaceuticals, Frontline Pharmaceuticals, and Patheon Puerto Rico. He currently serves on the North Carolina Biotech Advisory Board.

"Benuvia has built a strong reputation in the cannabinoid and psychedelic development and manufacturing space. I am excited to join this talented team, build on the controlled substance and specialty product expertise that exists across the organization, and expand Benuvia's API and finished dose contract development and manufacturing service offerings," said Mr. Novak.

The announcement follows several pivotal milestones for Benuvia in 2024, including a partnership with Bright Green Corporation to secure a supply of DEA-approved marijuana extracts and plant-based psychedelics; a strategic alliance with Chromocell Therapeutics to accelerate novel therapeutic solutions addressing pain treatment and related conditions with non-addictive drugs; a co-marketing agreement with Societal CDMO, Inc. to promote complementary contract development and manufacturing services to each company's respective customer bases and new business prospects; and a partnership with PharmaCielo Ltd. to produce cGMP pharmaceutical-grade Active Pharmaceutical Ingredients ("APIs") for the global market.

About Benuvia Operations, LLC
Benuvia is a pioneering leader in the research, development, and commercialization of innovative pharmaceutical products across a wide range of therapeutic areas. The company is committed to meeting customers' product development and manufacturing needs from API through to finished dose. With FDA registration, DEA licensing, and cGMP certification, Benuvia operates at the forefront of the pharmaceutical and CDMO industries. In addition to offering full-service contract development and manufacturing services to pharmaceutical and biotech companies, Benuvia's flagship product, SYNDROS®, is an FDA-approved medication used for the treatment of anorexia associated with weight loss in patients with AIDS and for managing chemotherapy-induced nausea and vomiting. To learn more, visit www.benuvia.com.

Contact:
KWM Communications
Kellie Walsh
(914) 315-6072
[email protected]

SOURCE Benuvia Operations, LLC