Strongbridge Biopharma plc Announces Appointment of Garheng Kong, M.D., Ph.D., MBA, to its Board of Directors
September 15, 2015 – Dublin, Ireland and Trevose, Pa., USA – Strongbridge Biopharma plc announced today that Garheng Kong, M.D., Ph.D., MBA, founder and managing partner of HealthQuest Capital, has been appointed to the Company’s Board of Directors, effective immediately. The Company also announced today that Joseph M. Mahady, who has served as a director, has elected to step down from the Strongbridge Biopharma Board of Directors.
“We are pleased to welcome Garheng to our Board of Directors during this important period of growth and evolution for Strongbridge Biopharma,” said Matthew Pauls, president, chief executive officer and member of the Board of Directors of Strongbridge Biopharma plc.
“Garheng’s industry footprint, notable successes and involvement within the healthcare space will undoubtedly be of significant value to Strongbridge Biopharma,” said John H. Johnson, chairman of the Board of Directors. “Matt and the Board of Directors join me in acknowledging and thanking Joe for his dedication and contributions to the Company over the years and we wish him all the best,” Johnson added.
Dr. Kong has nearly 20 years of clinical and technical experience in creating and building high-growth and innovation-based healthcare businesses. He currently serves on the Boards of Alimera Sciences, Castle Biosciences, Cempra, Duke University Medical Center, First Aid Shot Therapy, Histogenics, Laboratory Corporation of America, Trice Medical and VirMedica. He previously served on the Boards of SEBIO, the North Carolina Biotechnology Center and numerous industry groups. He received two undergraduate degrees in Chemical Engineering and Biological Sciences from Stanford University and earned his M.D., Ph.D. and MBA from Duke University. Dr. Kong’s early career included positions at GlaxoSmithKline, McKinsey and TherOx, before joining Intersouth Partners.
“I am pleased to join Strongbridge Biopharma’s Board of Directors and look forward to contributing my experience and helping to further the Company’s efforts to deliver promising therapeutic options for the rare disease community,” said Garheng Kong, M.D., Ph.D., MBA.
About Strongbridge Biopharma
Following the successful completion of its exchange offer to acquire the issued ordinary shares of Cortendo AB, Strongbridge Biopharma is now the new parent company of the Cortendo group. The group’s strategic focus is to build a biopharmaceutical company focused on the development, in-licensing, acquisition and eventual commercialization of complementary product candidates across multiple franchises that target rare diseases. The group’s lead product candidate, COR-003 (levoketoconazole), is a cortisol inhibitor that is currently being studied in the global Phase 3 trial for the treatment of endogenous Cushing’s syndrome. COR- 003 has received orphan designation from both the European Medicines Agency and the U.S. Food and Drug Administration. The group recently expanded its rare endocrine disease franchise with the completion of transactions for two Phase 2 product candidates: COR-004, a novel second-generation antisense compound, which is in clinical development for acromegaly and designed to block the synthesis of growth hormone receptor (GHr) thereby reducing levels of insulin-like growth factor-1 (IGF-1) in the blood; and COR-005, a next-generation somatostatin analog (SSA) with a unique receptor affinity profile, being investigated for the treatment of acromegaly, with potential additional applications in Cushing’s disease and neuroendocrine tumors. The group's intent is to independently commercialize its rare endocrine assets in key global markets.
Strongbridge Biopharma Forward Looking Statements
This press release contains forward-looking statements concerning Strongbridge Biopharma 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 Strongbridge Biopharma’s strategy, anticipated investments, financial position, outcomes of product development efforts 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 Strongbridge Biopharma’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 Strongbridge Biopharma believes are reasonable. The forward-looking statements contained in this document are made only as of the date hereof. Strongbridge Biopharma 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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