Prosonix Appoints Frank Condella as Non-executive Director

OXFORD, England, July 1, 2013 /PRNewswire/ --

Brings further international experience in the development and commercialisation of respiratory medicines

Prosonix, an innovative speciality pharmaceutical company developing a portfolio of inhaled respiratory medicines by design, has appointed Frank Condella as Non-executive Director.

Mr Condella has over 30 years of business experience, including senior leadership roles in both privately and publicly held companies in the pharmaceutical and healthcare industry, and particularly in the development and commercialisation of respiratory medicines.

Mr Condella is President and Chief Executive Officer of Columbia Laboratories, Inc., a NASDAQ-listed speciality pharmaceutical company, and Non-executive Chairman of Skyepharma plc, a London-listed speciality drug delivery company. He was CEO of Skyepharma between 2006 and 2008, President of European Operations and Managing Director, UK at IVAX Corporation from 2002 to 2006, and President and Chief Executive Officer of Faulding Pharmaceutical Co., from 2000 to 2001. Previously, he was Vice-President of Specialty Care Products at Roche and Vice-President and General Manager of the Lederle unit of American Home Products (now part of Pfizer, Inc.). He holds a MBA degree and a BSc degree in pharmacy from Northeastern University (Boston, MA, USA).

Commenting on the appointment, Ken Cunningham, Prosonix' Non-executive Chairman, said:

"Prosonix has been successful in recruiting people with important and complementary industry experience to add to its management, board and advisory committee over the past 18 months so as to take full advantage of the commercial opportunity that its generic and novel respiratory drug candidates have the potential to address. We are therefore very pleased that Frank has joined the Prosonix Board. We anticipate his wide-ranging experience in developing and commercialising respiratory and other speciality medicines will prove valuable as we advance our lead programmes towards the market."

Frank Condella added:

"Prosonix has developed a unique platform for developing generic and novel respiratory medicines based on engineering drug particles whose fundamental properties are designed specifically for inhalation via simple inhalation devices. This approach could lead to the availability of the first directly substitutable generic respiratory medicines, as well as novel combination products with enhanced performance and cost benefits. Prosonix is a very exciting company and I am very much looking forward to working with the company during this transformational phase of its development."

Notes for Editors

About Prosonix http://www.prosonix.co.uk

Prosonix is an innovative speciality pharmaceutical company developing a portfolio of inhaled respiratory medicines by design.

Prosonix' ultrasonic particle engineering technology enables it to design and engineer mono and combination drug particles that precisely meet the specific requirements for inhalation, delivering assured formulation performance using simple, cost-effective devices for a range of generic, super-generic and novel products.

Prosonix' pipeline focuses on near- and long-term opportunities, including:

• PSX1001/PSX1050, a directly substitutable generic version of fluticasone propionate, a potent inhaled corticosteroid (ICS) monotherapy, for asthma and chronic obstructive pulmonary disease (COPD) in pressurised metered dose inhaler (pMDI),
• PSX2005, a directly substitutable generic version of a leading ICS/long-acting beta agonist (LABA) combination in development for asthma and COPD in pMDI,
• PSX1002, a drug-only proprietary formulation of glycopyrronium bromide, a long-acting muscarinic antagonist (LAMA), for COPD in pMDI, and
• PSX2000 MCP™ Series, novel combination medicines designed specifically for respiratory diseases and based on Prosonix proprietary Multi-component Particles™ that uniquely do not require additional excipients or co-suspension agents for optimal formulation performance from pMDI or Dry Powder Inhalers (DPI).

Prosonix has raised more than £22 million from experienced life sciences investors including Ventech, Gimv, Gilde Healthcare Partners, Entrepreneurs Fund, Quest for Growth and Solon Ventures, plus £1.3 million from the Biomedical Catalyst.

For more information, please contact:

David Hipkiss, CEO
+44(0)1865-784-250
[email protected]

Mark Swallow, Sita Shah, David Dible
Citigate Dewe Rogerson
+44(0)207-638-9571
[email protected]

SOURCE Prosonix