Mark Schobel, CEO, Assumes Added Role of Chief Technology Officer;
Keith Kendall, CFO, Named Chief Operating Officer
Schobel and Kendall to Serve as Co-Presidents
Warren, NJ (June 23, 2011) – MonoSol Rx, the developers of PharmFilm® technology and a drug delivery company specializing in proprietary pharmaceutical film products, announced today it has completed a strategic re-alignment of its executive management. As part of the enhanced managerial structure, A. Mark Schobel, CEO, will take on the added role of Chief Technology Officer for MonoSol Rx, and Keith Kendall will assume the newly created position of Chief Operating Officer. Further, Mr. Schobel and Mr. Kendall will lead the Company as co-presidents.
Additionally, Daniel Barber will join and augment the existing business development efforts of the company as Vice President, Business Development and Alliance Management. Robert Arnold will assume additional responsibilities in the newly created role as Vice President, Finance.
“The growth potential for MonoSol Rx and PharmFilm is vast, and this strategic realignment will enable us to maximize both our R&D efforts and the numerous partnering opportunities that our technology affords,” said Schobel. “Over the past year, Keith and I have led the development of several high-value programs, including two FDA approvals, which have substantiated the science behind the PharmFilm platform and the value that it offers to pharmaceutical companies that seek highly differentiated, marketable products.”
Recently, MonoSol Rx has advanced two significant pipeline targets – Insulin PharmFilm and Montelukast Sodium Oral Soluble Film (OSF). In a pre-clinical study in primates earlier this year, MonoSol Rx and its partner, Midatech Ltd., successfully delivered human insulin across the buccal mucosa utilizing PharmFilm. The Insulin PharmFilm Phase 1 clinical trial is slated for later this year. Additionally, in March, MonoSol Rx held a successful pre-investigational new drug (IND) meeting with the U.S. Food and Drug Administration (FDA) regarding the development of Montelukast OSF under a 505(b)(2) pathway.
Kendall remarked, “MonoSol Rx is now optimally positioned, both technically and operationally, to capitalize on the numerous market opportunities that our PharmFilm platform affords. These enhancements to our organization will allow us to be even more nimble and strategic as we identify new drug targets, solidify partnering agreements and build programs to commercial scale.”
About MonoSol Rx
MonoSol Rx is a specialty pharmaceutical company leveraging its proprietary PharmFilm® technology to deliver drugs in films. 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 portfolio of commercialized prescription and over-the-counter (OTC) drug products, a pipeline of prescription formulations based on PharmFilm® technology, and two recent 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 combination sublingual film product for the treatment of opioid dependence.
MonoSol Rx’s commercialization strategy for all PharmFilm® products is to partner with the innovator, other specialty pharma or leading consumer products companies that can sell-in and manage product sales and marketing. For existing and future partners, PharmFilm® formulations represent revenue-life cycle extensions for products with patent lives that have expired or are approaching expiration. PharmFilm® is also a tool to help sales and marketing partners differentiate in competitive markets while offering unique advantages over drugs dosed by traditional tablets, capsules and orally disintegrating tablets (ODTs). For press releases and other company information visit www.monosolrx.com