SAN DIEGO, Nov. 12 Verus Pharmaceuticals, Inc., apediatric-oriented specialty pharmaceutical company, announced today thatRobert W. Keith has been promoted to President & Chief Executive Officer.Prior to the promotion, Mr. Keith served as President & Chief OperatingOfficer. As a result of the promotion, Cam L. Garner now will serveexclusively as Executive Chairman.
"We are excited to announce this well-deserved promotion," said Cam L.Garner. "As a co-founder of Verus, Bob has played a critical role in thedevelopment and evolution of the company from day one to the present,including our recently announced transaction with AstraZeneca."
"I am honored to take the reins from Cam at this point in time and leadthe company forward as we continue to build value in our commercial franchiseand accelerate our efforts on our emerging development programs," said RobertW. Keith.
The composition of the Board of Directors will not change with thepromotion of Mr. Keith. In addition to Mr. Garner and Mr. Keith, the othercurrent members include James C. Blair, Alex E. Barkas, Jean-Pierre Naegeli,Nicholas J. Simon, David F. Hale, and Erle T. Mast.
Verus Pharmaceuticals is dedicated to improving the lives of children andthose who care for them. Verus is building a portfolio of products for theunmet medical needs of children through acquisitions and alliances, with aninitial focus on the treatment of asthma, allergies, and related diseases andconditions. Verus is differentiated by its pediatric orientation and itsstrong financial position and experienced management team, which allows thecompany to capitalize on an extensive network to build its product portfolioand pursue complementary transactions. The company's rigorous, disciplinedapproach to strategic decision-making and core competencies in development andcommercialization is expected to provide significant value to its partners.More information about Verus is available on the company's corporate websiteat http://www.veruspharm.com.
Verus(R) is a registered trademark of Verus Pharmaceuticals, Inc.
Verus Pharmaceuticals cautions you that statements included in this pressrelease that are not a description of historical facts may be forward-lookingstatements. The inclusion of forward-looking statements should not beregarded as a representation by Verus that any of its plans will be achieved.Actual results may differ materially from those set forth in this pressrelease due to the risks and uncertainties inherent in Verus' businessincluding, without limitation, statements about: its ability to identifyappropriate acquisition, licensing, or co-development and/or promotioncandidates in the future or be able to take advantage of the opportunities itidentifies; difficulties or delays in developing, obtaining regulatoryapproval, manufacturing and commercializing its products; unexpectedperformance or side effects of its products that could delay or preventdevelopment or commercialization, or that could result in recalls or productliability claims; the scope and validity of patent protection for itsproducts; competition from other pharmaceutical companies; and its ability toobtain additional financing to support its operations. All forward-lookingstatements are qualified in their entirety by this cautionary statement andVerus undertakes no obligation to revise or update this press release toreflect events or circumstances after the date hereof.Company Contact: Media Contact: Robert W. Keith Amy Caterina President & Chief Executive Officer Corporate Communications Verus Pharmaceuticals, Inc. Verus Pharmaceuticals, Inc. [email protected] [email protected]