Ascendis Pharma A/S Appoints Scott T. Smith as Chief Financial Officer
COPENHAGEN, Denmark, Aug. 8, 2016 /PRNewswire/ -- Ascendis Pharma A/S (Nasdaq: ASND), a clinical stage biopharmaceutical company that applies its innovative TransCon technology to address significant unmet medical needs, today announced that it has appointed Scott T. Smith as Senior Vice President and Chief Financial Officer.
"We are pleased to welcome Scott to the executive management team," commented Jan Mikkelsen, President and Chief Executive Officer of Ascendis. "His demonstrated leadership and investment banking background will play an important role as Ascendis works to advance its pipeline and establish itself as a leader in the rare disease arena. We are particularly enthusiastic that he joins as we prepare to initiate Phase 3 development for our lead product candidate, TransCon Growth Hormone, and as we plan to build an integrated commercial business."
Mr. Smith stated, "I am thrilled to join Ascendis at this critical juncture. I am extremely impressed by the company's technology and deep pipeline, its focus on patient benefits, and the quality of the team. It is a privilege to join such an accomplished group of dedicated professionals."
Mr. Smith most recently served as Director of the Healthcare Investment Banking Group at Wedbush Securities, from 2012 to 2016, where he led the healthcare team and oversaw a substantial increase in revenue and transaction volume. From 2009 to 2012, Mr. Smith served as a Managing Director at Wedbush. Prior to joining Wedbush, Mr. Smith served as a Director in the Global Healthcare Investment Banking Group at Merrill Lynch where he began his career in 1995. He has also worked in sales, marketing and strategy roles for various companies, including start-ups and a Fortune Global 500 company. Mr. Smith received his MBA from the Stanford University Graduate School of Business and graduated magna cum laude with a BA in Economics/Accounting - Physics from Claremont McKenna College.
About Ascendis Pharma A/S
Ascendis Pharma is applying its innovative TransCon technology to develop an internal pipeline of therapeutics to address unmet medical needs in rare disease indications carrying substantial commercial potential. The Ascendis Pharma internal pipeline consists of existing parent drugs with known pharmacology, and features TransCon Growth Hormone, a wholly-owned program that has completed Phase 2 studies in adults and children with growth hormone deficiency. TransCon Growth Hormone is expected to begin a pivotal Phase 3 pediatric study in mid-2016.
Additionally, Ascendis Pharma has formed collaborations with Sanofi in diabetes and Genentech in the field of ophthalmology, both of which are focused on developing leading products in large markets of strategic importance to these partners.
The TransCon technology combines the benefits of prodrug and sustained release technologies, and is the key driver of Ascendis Pharma's mission to develop a pipeline of therapeutics with best-in-class profiles. The TransCon technology can be applied to a broad range of drug therapies, including proteins, peptides and small molecules, to create prodrugs that provide for the predictable and sustained release of an unmodified parent drug.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our future operations, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to (i) our product pipeline, including our plans to initiate a pivotal Phase 3 pediatric study of TransCon Growth Hormone in mid-2016, (ii) our plan to build an integrated commercial business, (iii) our work to advance our pipeline and establish our company as a leader in the rare disease endocrinology arena and (iv) the application of our TransCon technology to the creation of product candidates to address significant unmet medical needs in rare disease indications carrying substantial commercial potential. We may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions, expectations and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that we make, including the following: unforeseen safety or efficacy results in our lead development program TransCon Growth Hormone or other development programs; unforeseen expenses related to the development of TransCon Growth Hormone or other development programs, general and administrative expenses, other research and development expenses and our business generally; delays in the development of TransCon Growth Hormone related to manufacturing, regulatory requirements, speed of patient recruitment or other unforeseen delays; dependence on third party manufacturers to supply study drug for planned clinical studies; and our ability to obtain additional funding, if needed, to support our business activities. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to our business in general, see our current and future reports filed with, or submitted to, the U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F for the year ended December 31, 2015, which we filed with the SEC on April 15, 2016. Forward-looking statements do not reflect the potential impact of any future in-licensing, collaborations, acquisitions, mergers, dispositions, joint ventures, or investments we may enter into or make. We do not assume any obligation to update any forward-looking statements, except as required by law.
Internal contact:
Scott T. Smith
Chief Financial Officer
(650) 352-8389
ir@ascendispharma.com
Investor contact:
Patti Bank
Westwicke Partners
(415) 513-1284
patti.bank@westwicke.com
Media contact:
Ami Knoefler
SparkBioComm
(650) 739-9952
ami@sparkbiocomm.com
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