– USA, NY – AIT Therapeutics, Inc. (OTCQB:AITB), a clinical-stage medical device and biopharmaceutical company focused on developing inhaled Nitric Oxide for the treatment of patients with respiratory conditions including serious lung infections and pulmonary hypertension, today announced the appointment of Robert F. Carey to the Company’s Board of Directors.
“Bob is a seasoned healthcare executive and investment banking veteran with an impeccable track record and we are elated that he is joining the Board,” said Steve Lisi, Chairman and Chief Executive Officer of AIT. “His experience as the chief business officer at Horizon Pharma plc over the last five years and as an investment banker for more than two decades will be invaluable to the Board and our management team as AIT forges ahead with a planned launch in the United States of our AirNOvent* system with our commercial partner Circassia Pharmaceuticals, a pivotal study in bronchiolitis anticipated to read out in the second quarter of 2020, and an at-home pilot study in nontuberculous mycobacteria expected to commence by year-end 2019.”
“I am excited to join the impressive Board of AIT, a very well-managed company with a truly revolutionary product,” said Mr. Carey. “The cylinder free nitric oxide generator and delivery system is a highly innovative and disruptive medical device that will make nitric oxide more accessible to patients in a larger number of hospitals in the United States and other countries around the world, as well as make nitric oxide potentially available to infants suffering from bronchiolitis and to patients in the home-setting with severe lung infections. I believe AIT has something very unique and I look forward to sharing my insight with the Board and management team.”
About Bob Carey
Mr. Carey has an extensive track record of accomplishment within the healthcare investment banking industry. He has assisted biotech and specialty pharma companies raise more than $10 billion in initial public offerings, follow-on offerings, debt offerings, and private placements. He has served as a financial advisor on mergers, acquisitions, and strategic alliance transactions with a total deal value of more than $10 billion. Mr. Carey has served as executive vice president and chief business officer at Horizon Pharma since 2014, during which Horizon Pharma deployed in excess of $3 billion to acquire or license eight commercial products and three products in development and grew net sales from $74 million in 2013 to approximately $1.2 billion* in 2018, a compound annual growth rate of 75%. Before Horizon, he spent more than 11 years as managing director and head of the life sciences investment banking group at JMP Securities. Mr. Carey was a managing director in the healthcare groups at Dresdner Kleinwort Wasserstein and Vector Securities for a total of 14 years. He received his B.B.A. in Accounting from the University of Notre Dame. Mr. Carey currently serves on the board of Sangamo Therapeutics, Inc.
AIT Therapeutics Inc. is a clinical-stage medical device and biopharmaceutical company using nitric oxide to treat respiratory and other diseases. The Company is currently applying its therapeutic expertise to treat lower respiratory tract infections that are not effectively addressed with current standards of care, as well as pulmonary hypertension, in various settings. AIT Therapeutics is currently advancing its revolutionary NO Generator and Delivery System in clinical trials for the treatment of bronchiolitis and nontuberculous mycobacteria.
For more information : https://ait-pharm.com
Persistent pulmonary hypertension of the newborn is a life-threatening condition secondary to failure of normal circulatory transition at birth. It is a syndrome characterized by elevated pulmonary vascular resistance that causes labile hypoxemia due to decreased pulmonary blood flow and right-to-left shunting of blood. Its incidence has been reported as 1.9 per 1000 live births (0.4–6.8/1000 live births) with mortality rate ranging between 4–33%. This syndrome complicates the course of about 10% of infants with respiratory failure and remains a source of considerable morbidity and mortality. NO gas is a pulmonary vasodilator and is approved in dozens of countries to improve oxygenation and reduce the need for extracorporeal membrane oxygenation (ECMO) in term and near-term (>34 weeks gestation) neonates with hypoxic respiratory failure associated with clinical or echocardiographic evidence of pulmonary hypertension in conjunction with ventilator support and other appropriate agents.
AIT’s ventilator compatible NO Generator and Delivery System is a cylinder free, phasic flow nitric oxide delivery system and has been designated as a medical device by the US Food and Drug Administration. The device can generate NO on demand for delivery to the lungs at concentrations ranging from 1 part per million (ppm) to 80 ppm. The elimination of the need for large, high-pressure cylinders for NO is a significant advantage in the hospital setting by greatly reducing inventory and storage requirements and improving overall safety with the elimination of NO2 purging steps, among other benefits.
The majority of hospital admissions of infants with bronchiolitis are caused by respiratory syncytial virus. RSV is a common and highly transmissible virus that infects the respiratory tract of most children before their second birthday. While most infants with RSV present with minor respiratory symptoms, a small percentage develop serious lower airway infections, termed bronchiolitis, which can become life-threatening. The absence of treatment options for bronchiolitis limits the care of these sick infants to largely supportive measures. AIT’s system is designed to effectively deliver 160 ppm NO, which has been proven to eliminate bacteria, viruses, fungi and other microbes from the lungs.
Nontuberculous mycobacteria infection is a rare and serious condition causing debilitating pulmonary disease associated with increased morbidity and mortality. NTM is an emerging public health concern worldwide because of its multi-drug antibiotic resistance. Current treatment guidelines suggest a combination of multiple antibiotics delivered continually for as long as two years. These complex, expensive and invasive regimens have a poor record in the treatment of mycobacterium abscessus complex and refractory mycobacterium avium complex (MAC). AIT’s system is designed to effectively deliver 160 – 400 ppm NO to the lung. This range of NO concentration has been demonstrated to eliminate bacteria, viruses, fungi and other microbes from the lungs and may work against antibiotic resistant bacteria.
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.