– UK, London / USA, NC – Verona Pharma plc (LON: VRP | Nasdaq: VRNA), a clinical-stage biopharmaceutical company focused on respiratory diseases, today announced that David Zaccardelli, Pharm. D. has been appointed President and CEO with effect from February 1, 2020. Dr. Zaccardelli has also joined the board of Verona Pharma.
Dr. Zaccardelli brings substantial specialty pharmaceutical leadership and operational expertise, including most notably, serving as President and CEO of Dova Pharmaceuticals, Inc. until its acquisition by Swedish Orphan Biovitrum AB in November 2019. Previously, Dr. Zaccardelli held several senior management roles including COO at United Therapeutics Corporation. Jan-Anders Karlsson, Ph.D., Verona Pharma’s previous CEO, is retiring following 8 years of dedicated service to the Company to pursue non-executive roles and he has agreed to provide support to ensure an effective transition.
In addition, Mark W. Hahn, a seasoned pharmaceutical finance executive, will join Verona Pharma as CFO, a non-board position, with effect from March 1, 2020. Mr. Hahn previously served as the CFO of Dova Pharmaceuticals, Inc. and Cempra, Inc. and raised over $600 million to support product development and commercialization activities of those companies. Piers Morgan will continue to serve as CFO of Verona Pharma through February 28, 2020, to provide an efficient transition and complete required financial reporting.
“We are very pleased to have both Dr. Zaccardelli and Mr. Hahn join Verona Pharma. They are highly experienced leaders with a proven track record of working together to create significant value for shareholders. We believe we have a strong team in place to lead Verona Pharma into its next phase of growth. The team will focus on the US and worldwide opportunities to help COPD patients in need of additional treatment,” said Dr. David Ebsworth, Chairman of Verona Pharma.
Both Dr. Zaccardelli and Mr. Hahn will be based in North Carolina in the US, where the majority of the clinical team are located, to lead the development and commercialization of ensifentrine for respiratory diseases including chronic obstructive pulmonary disease, asthma and cystic fibrosis.
“I thank Dr. Karlsson for his leadership in building Verona Pharma into a strong company with a Phase 3 program for ensifentrine expected to begin in 3Q 2020, and also Mr. Morgan for his support through the US IPO process. Together, Dr. Karlsson and Mr. Morgan successfully raised significant capital, listed Verona Pharma on Nasdaq and used these funds to generate data supporting the strong efficacy and safety profile of ensifentrine in COPD. I am pleased they will continue to support the transition to ensure the further success of Verona Pharma.” David Ebsworth added.
Dr. Zaccardelli, President and CEO, said: “I strongly believe it is a transformational time to join Verona Pharma to ensure the full potential of ensifentrine, a first-in-class, inhaled, dual inhibitor of the phosphodiesterase 3 (PDE3) and phosphodiesterase 4 (PDE4) enzymes for the treatment of respiratory diseases including COPD, asthma and CF. In addition, the recently reported Phase 2 clinical trial results of ensifentrine added to inhaled tiotropium, a long-acting anti-muscarinic (“LAMA”) commonly used to treat patients with COPD, underscores its potential for a significant impact on the treatment for patients with COPD. Verona Pharma will continue to focus on developing new treatments for patients with unmet medical need.”
Dr. Zaccardelli continued, “I am also excited Mark Hahn is joining Verona as CFO as part of the executive leadership team. He has extensive experience in both finance and public pharmaceutical companies having raised more than $600 million to support novel product development at previous companies. In addition, we have effectively collaborated together in the leadership of previous companies including Dova resulting in the acquisition by Sobi.”
About Dr. Zaccardelli
Previously, Dr. Zaccardelli served as President and CEO of Dova Pharmaceuticals from December 2018 until its acquisition by Sobi in November 2019. Dr. Zaccardelli was the Acting CEO of Cempra, Inc. from December 2016 until the company’s merger with Melinta Therapeutics, Inc. in November 2017. From 2004 until 2016, Dr. Zaccardelli served in several senior management roles at United Therapeutics Corporation, including COO, Chief Manufacturing Officer and Executive Vice President, Pharmaceutical Development and Operations. Prior to joining United Therapeutics, Dr. Zaccardelli founded and led a start-up company focused on contract pharmaceutical development services, from 1997 through 2003. From 1988 to 1996, Dr. Zaccardelli worked at Burroughs Wellcome & Co. and Glaxo Wellcome, Inc. in a variety of clinical research positions. He also served as Director of Clinical and Scientific Affairs for Bausch & Lomb Pharmaceuticals from 1996 to 1997.
About Mark Hahn
Prior to Verona Pharma, Mr. Hahn served as CFO of Dova Pharmaceuticals from January 2018 until the acquisition by Sobi in November 2019 where he led over $100 million in equity and debt financings and was instrumental in the launch of Dova’s first commercial product. Mr. Hahn previously served as the CFO of Cempra, Inc. from 2010 until it was acquired by Melinta Therapeutics, Inc. in November 2017. While at Cempra, Mr. Hahn spearheaded all financing activities including the company’s IPO and follow on offerings raising over $500 million over a seven-year period. Prior to joining Cempra, from 2008 to 2009, Mr. Hahn was the CFO for Athenix, a rapidly growing agricultural biotech company that merged with Bayer CropScience in 2010. Before taking on operating roles at corporations, Mr. Hahn spent twelve years at Ernst and Young where he assisted in the IPO process for many software, manufacturing, and consumer product companies. Mr. Hahn received a Bachelor of Business Administration degree in Accounting and Finance from the University of Wisconsin-Milwaukee and is a Certified Public Accountant.
About Verona Pharma
Verona Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for the treatment of respiratory diseases with significant unmet medical needs. If successfully developed and approved, Verona Pharma’s product candidate, ensifentrine, has the potential to be the first therapy for the treatment of respiratory diseases that combines bronchodilator and anti-inflammatory activities in one compound. Verona Pharma is currently in Phase 2 development with three formulations of ensifentrine for the treatment of COPD: nebulized, dry powder inhaler, and pressurized metered-dose inhaler. Ensifentrine also has potential applications in cystic fibrosis, asthma and other respiratory diseases.
For more, visit www.veronapharma.com.
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