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John Thievon, MiddleBrook president and CEO, said, "These changes are animportant first step toward transitioning MiddleBrook to a full-fledgedcommercial operation. Next, we will fill key sales management positions andbegin recruiting field force representatives. We look forward to sharing moreinformation on our plans and progress during our third quarter earningsconference call."
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-- Timothy L. Miller has joined MiddleBrook Pharmaceuticals as Senior VicePresident, Sales Operations & Administration. Prior to joining MiddleBrook,Miller served as Vice President, Sales Operations & Training at AdamsRespiratory Therapeutics, Inc. (Adams). Previously, he held numerous keypositions in sales, operations and finance at Aventis Pharmaceuticals, Inc.and its legacy companies.
-- Brian J. Carlino has joined MiddleBrook Pharmaceuticals as VicePresident, Sales. Prior to joining MiddleBrook, Carlino held multiple sales,trade, and managed care leadership roles at Salix Pharmaceuticals, Inc. andits predecessor company, InKine Pharmaceutical Company, Inc. Previously, hewas a sales manager at Adams Laboratories, Inc. and worked in sales at UCBPharma, Inc.
-- William G. Volz has joined MiddleBrook Pharmaceuticals as VicePresident, Marketing. Prior to joining MiddleBrook, Volz was Senior Directorof Sales & Marketing at Ivax Laboratories, Inc. Previously, he heldsuccessive leadership roles in the ophthalmic division of Novartis, includingExecutive Director, U.S. Sales; Global Marketing Director, Allergy; U.S.Marketing Director, Allergy & OTC.
The Company also announced key hires in legal, information technology,finance, and investor relations. MiddleBrook EVP and CFO David Becker said,"These changes to our leadership team will enable us to effectively supportcommercial operations and identify and implement programs focused onextracting maximum value from company-wide resources."
-- Brad Cole has joined MiddleBrook Pharmaceuticals as Senior VicePresident, General Counsel. Prior to joining MiddleBrook, Cole served asAssociate General Counsel at Adams. Prior to Adams, Cole was with the lawfirm Holland & Knight LLP, where he worked on corporate, securities and M&Amatters.
-- Michael J. Butrico has joined MiddleBrook Pharmaceuticals as VicePresident of Information Technology and Automation. Prior to joiningMiddleBrook, Butrico served as Executive Director, Information Technology atAdams. Previously, he held key technology positions at Chubb and AT&T.
-- David N. Carlson has joined MiddleBrook Pharmaceuticals as VicePresident of Finance & Treasurer. Prior to joining MiddleBrook, Carlson heldseveral key finance positions at Adams; most recently Vice President ofFinance & Plant Controller. Formerly, he held various positions in finance atRxAmerica, a fully-integrated retail and mail service provider of pharmacybenefit management services.
-- Cynthia C. Tirpak has joined MiddleBrook Pharmaceuticals as VicePresident, Controller. Prior to joining MiddleBrook, Tirpak was ExecutiveDirector, Business Development & Assistant Treasurer at Adams. Previously,she was Assistant Controller for Adams. Tirpak also held various operationaland corporate finance positions at Biovail Pharmaceuticals and PharmaciaCorporation. She began her career as an auditor with Deloitte & Touche and isa CPA.
-- Faith Pomeroy-Ward has joined MiddleBrook Pharmaceuticals as ExecutiveDirector, Investor Relations & Corporate Communications. Prior to joiningMiddleBrook, Pomeroy-Ward worked in public affairs and communications forVerizon Telecom. Previously, she served as Senior Manager, Investor Relations& Corporate Communications at Adams.
MiddleBrook Pharmaceuticals also announced today that on Oct. 1, 2008, itgranted options to purchase 125,000 shares of MiddleBrook's common stock totwo new employees as a material inducement for them to join the company. Theoptions were granted pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) andunder MiddleBrook's New Hire Stock Incentive Plan, which was approved byMiddleBrook's Board of Directors on Sept. 26, 2008. The options have a pershare exercise price equal to the closing price of MiddleBrook's common stockon the Nasdaq Global Market on the day immediately preceding the grant date, aten-year term and vesting over four years, with 25 percent of the optionsvesting one year from the grant date and 1/48th of the options vesting monthlythereafter. The options have a grant date of Oct. 1, 2008.
About MOXATAG(TM):
MOXATAG(TM) (amoxicillin extended-release) tablets are a once-a-dayextended-release formulation of amoxicillin for oral administration consistingof three components: one immediate-release component and two delayed-releasecomponents. The three components are combined in a specific ratio to prolongthe release of amoxicillin from MOXATAG(TM) compared to immediate-releaseamoxicillin. MOXATAG(TM) is intended to provide a lower treatment dose, once-daily alternative to currently approved penicillin and amoxicillin regimensfor the treatment of adults and pediatric patients 12 years and older withtonsillitis and/or pharyngitis.
About Middlebrook Pharmaceuticals:
MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK) is a pharmaceuticalcompany focused on the development and commercialization of anti-infectivedrug products that fulfill substantial unmet medical needs in the treatment ofinfectious disease. The Company is developing anti-infective drugs based onits novel biological finding that bacteria exposed to antibiotics in pulsesare killed more efficiently and effectively than those under standardtreatment regimens. Based on this finding, MiddleBrook has developed aproprietary, once-a-day pulsatile delivery technology called PULSYS(R). TheCompany currently markets the Keflex(R) brand of cephalexin and has receivedregulatory approval for MOXATAG(TM) -- the first and only once-dailyamoxicillin product approved for marketing in the U.S. For more onMiddleBrook, please visit www.middlebrookpharma.com.
This announcement contains forward-looking statements, within the meaningof the Securities Exchange Act of 1934 and the Securities Act of 1933, thatinvolve risks and uncertainties. In some cases, forward-looking statements areidentified by words such as "believe," "anticipate," "expect," "intend,""plan," "will," "may" and similar expressions. You should not place unduereliance on these forward-looking statements, which speak only as of the dateof this announcement. All of these forward-looking statements are based oninformation available to us at this time, and we assume no obligation toupdate any of these statements. Actual results could differ from thoseprojected in these forward-looking statements as a result of many factors,including those identified in the sections titled "Risk Factors,""Management's Discussion and Analysis of Financial Condition and Results ofOperations" and elsewhere in our Annual Report on Form 10-K for the year endedDec. 31, 2007. We urge you to review and consider the various disclosures madeby us from time to time in our filings with the Securities and ExchangeCommission, that attempt to advise you of the risks and factors that mayaffect our future results.MiddleBrook Pharmaceuticals Reports Inducement Grants Under NASDAQ Marketplace Rule 4350
SOURCE MiddleBrook Pharmaceuticals, Inc.
