Strategic Shift of Executive Resources Expected to Accelerate Advancement of PharmFilm®
Warren, NJ (December 17, 2014) – MonoSol Rx, the developer of PharmFilm® drug delivery technology, today announced that Keith Kendall will assume the role of Chief Executive Officer, while Mark Schobel will transition into the newly-created position of Chief Innovation & Technology Officer, effective immediately.
In his new role, Schobel, who joined the Company as CEO in 2005, will lead the Company's intellectual property strategy and internal technology development initiatives to further advance MonoSol Rx's PharmFilm drug delivery technology.
As Chief Innovation & Technology Officer, Mark Schobel said "This strategic shift in executive responsibilities will enable me to interact more directly with the thought leaders in the pharmaceutical industry and help guide the Company's strategic technological and development initiatives to maximize the reach and utility of our PharmFilm drug delivery technology.
In our new positions, both Keith and I will be able to effectively leverage our respective strengths for the benefit of MonoSol Rx, our customers, partners, colleagues and other stakeholders. We have made great progress toward a number of important strategic objectives, and I believe that this new leadership structure will enable us to take the Company to a new level of achievement. I am confident that these changes position the Company optimally to succeed in the rapidly advancing drug delivery and specialty pharma space, and that my new focus will allow for greater contributions to driving the innovation and evolution of our PharmFilm platform, and that the organization will continue to thrive under Keith's proven leadership."
Kendall, currently the Chief Operating Officer, will oversee the execution of the Company's growth strategy. "I am grateful for the confidence that our Board has placed in me, and look forward to leading the Company in the next phase of its evolution. Mark and I have worked closely together since I joined MonoSol Rx in 2006, and we look forward to continuing our close collaboration."
About MonoSol Rx
MonoSol Rx is a specialty pharmaceutical company leveraging its proprietary PharmFilm® technology to develop products which address the unmet needs of patients. PharmFilm® is designed to benefit patients by improving the convenience, efficacy, and compliance of new and currently marketed drugs. The Company's leadership in film drug delivery is supported by strong intellectual property, a pipeline of prescription formulations based on PharmFilm® technology, and two FDA approvals — Zuplenz®, the first approved prescription oral soluble film for the prevention of chemotherapy-induced, radiotherapy-induced, and postoperative nausea and vomiting, and Suboxone® sublingual film, the first sublingual film product for the treatment of opioid dependence. For press releases and other company information visit www.monosolrx.com.