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SOURCE Neuraltus Pharmaceuticals, Inc.
PALO ALTO, Calif., Oct. 8, 2013 /PRNewswire/ -- Neuraltus Pharmaceuticals, Inc. announced today that Richard L. Casey has been named President and Chief Executive Officer of Neuraltus, effective immediately. Mr. Casey brings extensive operational and senior management experience within the biopharma industry, including as the former Chairman and CEO of Scios. He replaces Neuraltus' Interim CEO John Walker.
Mr. Walker stated, "Rich has outstanding experience in the life sciences, with a strong track record in advancing clinical- and commercial-stage programs. The addition to the Neuraltus team of this seasoned leader opens a new chapter for the Company."
"I'm excited to be joining Neuraltus at an important time for the Company as it seeks to further advance its lead product candidate, NP001, for patients with amyotrophic lateral sclerosis (ALS)," stated Mr. Casey. "Previously reported clinical results from the Phase 2 study of NP001 have been encouraging, and Neuraltus' focus will be on conducting additional clinical research to demonstrate how the activity of NP001 can translate into a clear benefit for patients." Currently, there is only one modestly effective, FDA-approved therapy for ALS (which is also referred to as Lou Gehrig's disease).
Mr. Casey's 40-year career in the pharmaceutical and biotechnology industries includes 11 years as Chairman and CEO of Scios (1987 - 1998). During his tenure at Scios, the Company successfully developed NATRECOR® (nesiritide) for acute congestive heart failure, which subsequently was approved in 2002. Scios was sold to Johnson & Johnson for $2.4 billion the following year.
Prior to joining Scios, Mr. Casey was Executive Vice President, Pharmaceuticals, at ALZA Corporation, responsible for all manufacturing, marketing and business development activities at the company. Previously, he held senior management roles at Syntex Corporation, including Vice President of Sales, Syntex Laboratories, and General Manager, Syntex Medical Diagnostics. Mr. Casey began his career at Eli Lilly in the sales, marketing and market research areas. He has served on the Board of Directors of numerous companies, including Scios, Karo Bio AB, Guilford Pharmaceuticals, Vivus Inc., Synsorb Biotech Inc., Nexell Therapeutics, and Rockeby biomed, Ltd. Mr. Casey received both his BS degree in Chemistry and his MBA degree from Stanford University.
About Neuraltus Pharmaceuticals, Inc.
Neuraltus Pharmaceuticals, Inc. is a privately-held biopharmaceutical company developing novel therapeutics to treat neurological disorders. Neuraltus' clinical-stage product candidate, NP001, has been shown to regulate the activation of select immune cells (macrophages), transforming them from an activated or inflammatory state to their normal quiescent state in order to normalize the cellular environment of critical nerve cells. Neuraltus has completed a Phase 2 clinical study of NP001 in patients with amyotrophic lateral sclerosis (ALS, or Lou Gehrig's disease), results of which were reported in late 2012. For more information on Neuraltus, please visit www.neuraltus.com.
Neuraltus Pharmaceuticals, Inc.
President and CEO
Tel: (650) 424-1600 x. 300
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