Dr. John Amatruda Joins Cortendo As Acting Chief Medical Officer
Göteborg, Sweden-January 16, 2014. Cortendo AB [ticker: CORT on NOTC-A] today announced that Dr. John M. Amatruda has joined Cortendo as acting Chief Medical Officer. Dr. Amatruda will help to oversee all of Cortendo’s R&D programs with emphasis on clinical development.
“We are very pleased to welcome Dr. Amatruda to Cortendo at this critical stage of our corporate growth” says Dr. H. Joseph Reiser, CEO of Cortendo AB. “Considering John’s extensive industry and clinical experience in endocrinology, his guidance of our phase 3 development in Cushing’s Syndrome with NormoCort and our recent acquisition of diabetes company BioPancreate is particularly timely“ added Dr. Reiser.
Dr. John Amatruda, brings to Cortendo an in depth knowledge of endocrine diseases and drug development with a career spanning 41 years. He spent seven years at Merck & Co. where his most recent position was Senior Vice President & Franchise Head, Diabetes & Obesity. During this tenure his group was responsible for three drug approvals, most recently Januvia and Janumet. Prior to Merck he was at Bayer where he started the drug discovery group in metabolism and held the position of Vice President, Therapeutic Area Research Head, Metabolic Disorders. Dr. Amatruda’s long career in academia included the positions of Professor of Medicine, University of Rochester Medical Center, Yale University, and currently, Columbia University. He is Board certified in Endocrinology & Internal Medicine.
“I have become very interested in Cortendo’s pipeline projects, and believe they are well positioned both in terms of satisfying important unmet medical needs and in terms of competitiveness to other products” says Dr. John Amatruda. “I look forward to assisting in the progression of this innovative pipeline”.
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Risk and uncertainty
The development of pharmaceuticals carries significant risk. Failure may occur at any stage during development and commercialization due to safety or clinical efficacy issues. Delays may occur due to requirements from regulatory authorities not anticipated by the company.
Cortendo AB is a biopharmaceutical company headquartered in Göteborg, Sweden. Its stock is publicly traded on the NOTC-A-list (OTC) in Norway. Cortendo is a pioneer in the field of cortisol inhibition and has completed early clinical trials in patients with Type 2 diabetes. The lead drug candidate NormoCort, the 2S,4R-enantiomer of ketoconazole, has been re-focused to Cushing’s Syndrome, and is expected to enter Phase 3 development. The company’s strategy is to focus its resources to opportunities where the path to commercialization or partnership is clear and relatively near-term. Strategically, Cortendo’s business model is to commercialize relevant opportunities in the United States while partnering its assets ex-US. Backed by a highly experienced leadership team Cortendo has plans to continue to implement its pipeline expansion efforts in osteoarthritis and diabetes, as well as other near term revenue opportunities.
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This press release contains forward-looking statements concerning Cortendo that involve a number of risks and uncertainties. All statements other than statements of historical facts included in this press release, including, without limitation, statements regarding the Company’s future financial position, strategy, anticipated investments, costs and results, plans, projects to enhance efficiency, outcomes of products development, future capital expenditures, liquidity requirements and objectives of management for future operations, may be deemed to be forward looking statements. These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements or industry results to be materially different from those contemplated, projected, forecasted, estimated or budgeted, whether expressed or implied, by these forward looking statements. Given these risks and uncertainties, investors should not place any undue reliance on forward looking statements as a prediction of actual results. None of these forward looking statements constitutes a guarantee of the future occurrence of such facts and data or of actual results. These statements are based on data, assumptions and estimates that the Company believes are reasonable. The forward looking statements contained in this document are made only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates of any forward-looking statements contained in this press release to reflect any change in its actual results, assumptions, expectations or any change in events, factors, conditions or circumstances on which any forward looking statement contained in this press release is based.
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