– Dr. Shetzline will lead global product development for Ironwood
following separation –
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 6, 2019--
Ironwood
Pharmaceuticals, Inc. (NASDAQ: IRWD) today announced that Michael
Shetzline, M.D., Ph.D., will join Ironwood as chief medical officer,
senior vice president and head of drug development, effective January
28, 2019. Dr. Shetzline will lead global product development for
Ironwood following its planned separation into two independent,
publicly-traded companies. In his role, Dr. Shetzline will focus on
driving innovation designed to enhance the value of the company’s
existing GI assets and creating new GI product opportunities. He will
report to Thomas McCourt, who will become President of Ironwood
following the separation.
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Michael Shetzline (Photo: Business Wire)
Mr. McCourt commented, “Mike is one of the most experienced drug
developers in GI and a vital addition to the Ironwood team as we focus
on building a leading GI healthcare company. His vast experience leading
global clinical development, regulatory and commercial strategy across
multiple therapeutic areas including GI will be pivotal for us as we
advance our late-stage development portfolio – IW-3718 for persistent
GERD and MD-7246 for abdominal pain – and seek to bring new innovative
medicines to patients.”
“Ironwood is at a transformative point in its trajectory, one that’s
built on an incredibly solid foundation of GI expertise,” said Dr.
Shetzline. “From an industry perspective, it is clear that Ironwood’s
focus on GI positions it strongly for long-term growth and I am honored
and excited to lead development and expansion of its promising pipeline.”
Dr. Shetzline is a gastroenterologist and internist, bringing
exceptional expertise from more than 25 years in the biopharmaceutical
industry and academia. His proven track record is derived from his
leadership and vast experience in all facets of drug development –
including discovery research, translational medicine and clinical
development – across many areas of GI science including functional GI
disorders, inflammatory bowel disease, microbiome, rare diseases,
and acid related disorders. Dr. Shetzline has been involved in several
successful approved drug development programs in the U.S. and globally.
He also has extensive experience in managing collaborations, including
serving on the joint development committees for early- and late-stage
development ventures. Before joining Ironwood, Dr. Shetzline served as
vice president and head of gastroenterology clinical sciences at Takeda
Pharmaceuticals International Co., where he led global clinical
development for all GI assets. Prior to his role at Takeda, he served as
vice president and global head of gastroenterology at Ferring
International Pharmascience Center U.S., Inc, during which he led the
largest clinical development program in functional GI disorders. Before
that, he was vice president and global program head, integrated hospital
care, critical care and cardiovascular and metabolism, and head of
translational medicine GI discovery at Novartis Pharmaceuticals AG. Dr.
Shetzline also played a key role on the U.S. GI franchise team
supporting ZELNORM while at Novartis. Dr. Shetzline had a successful
career within academia serving as gastroenterology program director and
assistant professor of medicine at Duke University Medical Center in the
U.S. He has published over 40 full papers and book chapters and acted as
a reviewer for a range of medical journals, including authoring a
chapter in Sleisenger and Fordtran’s Gastrointestinal and Liver Disease
on Gastrointestinal Hormones. Dr. Shetzline earned his M.D. and Ph.D. at
The Ohio State University in physiology and medicine. He completed his
internal medicine residency and fellowship in gastroenterology as well
as serving on the faculty as a National Institutes of Health (NIH)
supported physician scientist at Duke University Medical Center. Dr.
Shetzline is a Fellow of the American College of Physicians, the
American College of Gastroenterology, and American Gastroenterological
Association.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals (Nasdaq: IRWD) is a commercial biotechnology
company focused on creating medicines that make a difference for
patients, building value for our fellow shareholders, and empowering our
passionate team. We discovered, developed and are commercializing
linaclotide, the U.S. branded prescription market leader for adults with
irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic
constipation (CIC). Our pipeline priorities for linaclotide include a
Phase IIIb trial evaluating its efficacy and safety on multiple
abdominal symptoms, including abdominal bloating, pain, and discomfort
in adult patients with IBS-C, as well as research into a formulation of
linaclotide designed to relieve abdominal pain associated with IBS.
We are also advancing a pipeline of innovative product candidates in
areas of significant unmet need, including persistent gastroesophageal
reflux disease, diabetic nephropathy, heart failure with preserved
ejection fraction and sickle cell disease. Ironwood was founded in 1998
and is headquartered in Cambridge, Mass. For more information, please
visit www.ironwoodpharma.com
or www.twitter.com/ironwoodpharma;
information that may be important to investors will be routinely posted
in both these locations.
Forward-Looking Statements
This press release contains forward-looking statements. Investors are
cautioned not to place undue reliance on these forward-looking
statements, including statements about Ironwood's leadership team, the
strength and value thereof, and leadership’s impact on the company and
its business, growth, business strategy, pipeline advancement,
productivity and the potential of its products and product candidates
and their impact; the completion and timing of the planned separation of
each of the Company following the separation; and statements about the
timing of any of the foregoing. Each forward‐looking statement is
subject to risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in such statement.
Applicable risks and uncertainties include those related to leadership
appointments; those related to the possibility that we may not complete
the separation of our business on the terms or timeline currently
contemplated, if at all, achieve the expected benefits of the
separation, and that the separation could harm our business, results of
operations and financial condition; the risk that the transaction might
not be tax-free; the risk that we may be unable to make, on a timely or
cost-effective basis, the changes necessary to operate as independent
companies; Cyclerion’s lack of independent operating history and the
risk that its accounting and other management systems may not be
prepared to meet the financial reporting and other requirements of
operating as an independent public company; the risk that a separation
may adversely impact our ability to attract or retain key personnel; the
effectiveness of development and commercialization efforts by us and our
partners; preclinical and clinical development, manufacturing and
formulation development; the risk that findings from our completed
nonclinical and clinical studies may not be replicated in later studies;
efficacy, safety and tolerability of our products and product
candidates; decisions by regulatory authorities; the risk that we may
never get sufficient patent protection for our products and our product
candidates or that we are not able to successfully protect such patents;
the outcomes in legal proceedings to protect or enforce the patents
relating to our products and product candidates, including ANDA
litigation; developments in the intellectual property landscape;
challenges from and rights of competitors or potential competitors; the
risk that our planned investments do not have the anticipated effect on
our company revenues, our products or product candidates; the risk that
we are unable to manage our operating expenses or cash use for
operations, or are unable to commercialize our products, within the
guided ranges or otherwise as expected and those risks listed under the
heading "Risk Factors" and elsewhere in Ironwood's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2018, and in our
subsequent SEC filings. These forward-looking statements (except as
otherwise noted) speak only as of the date of this press release, and
Ironwood undertakes no obligation to update these forward-looking
statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190106005100/en/
Source: Ironwood Pharmaceuticals, Inc.
Media and Investors:
Meredith Kaya, 617-374-5082
Vice
President, Investor Relations and Corporate Communications
[email protected]