MONMOUTH JUNCTION, NJ--(Marketwired - May 29, 2014) - Insmed Incorporated (NASDAQ: INSM) today announced the appointment of David R. Brennan to its Board of Directors. Mr. Brennan has more than 37 years of experience in the pharmaceutical industry and was formerly the Chief Executive Officer of AstraZeneca PLC.
"We are delighted to welcome David to the Insmed Board. David's deep and diverse set of global operating experiences will be invaluable as we build Insmed into a global commercial biopharmaceutical company with novel therapies across orphan, pulmonary and infectious diseases," stated Donald J. Hayden, Jr., Chairman of the Board of Insmed.
In accepting this appointment, Mr. Brennan stated, "I am excited to join Insmed at this stage in its growth. My personal interests are in companies where the products can make a meaningful difference in treating unmet medical needs. Given their focus on orphan diseases and their most recent clinical data in nontuberculous mycobacteria lung infections, I believe Insmed has a unique opportunity to improve the lives of patients. I look forward to working with the Insmed Board and leadership team to further the company's strategic objectives to become an industry leader."
From 2006 to 2012 Mr. Brennan served as Chief Executive Officer of AstraZeneca, a leading global pharmaceutical company with more than $27 billion in revenue and 60,000 employees in 2012. Mr. Brennan started his career in sales at Merck and Co. and quickly ascended into management roles at Merck. Mr. Brennan continued to take on increasing managerial and executive roles at Astra Merck and then Astra Pharmaceuticals. Mr. Brennan became an executive at AstraZeneca when Astra and Zeneca merged in 1999. Mr. Brennan has been an executive member of several leading industry associations, including former Chairman of Pharmaceutical Research and Manufacturers of America (PhRMA), executive board member of the European Federation of Pharmaceuticals Industries and Associations (EFPIA) and former President of the International Federation of Pharmaceuticals Manufacturers and Associations (IFPMA). Mr. Brennan received a bachelor's degree in business administration from Gettysburg College.
Insmed Incorporated is a biopharmaceutical company dedicated to improving the lives of patients battling serious lung diseases. Insmed is focused on the development and commercialization of ARIKAYCE™, or liposomal amikacin for inhalation, for at least two identified orphan patient populations: patients with nontuberculous mycobacteria (NTM) lung infections and cystic fibrosis (CF) patients with Pseudomonas aeruginosa lung infections. For more information, please visit http://www.insmed.com.
This release contains forward-looking statements. Words, and variations of words, such as "intend," "expect," "will," "anticipate," "believe," "continue," "propose" and similar expressions are intended to identify forward-looking statements. Investors are cautioned that such statements in this release, including statements relating to the status, results and timing of clinical trials and clinical data, the anticipated benefits of Insmed's products, the anticipated timing of regulatory submissions, and the ability to obtain required regulatory approvals, bring products to market and successfully commercialize products constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, without limitation, failure or delay of European, Canadian, U.S. Food and Drug Administration and other regulatory reviews and approvals, competitive developments affecting the Company's product candidates, delays in product development or clinical trials or other studies, patent disputes and other intellectual property developments relating to the Company's product candidates, unexpected regulatory actions, delays or requests, the failure of clinical trials or other studies or results of clinical trials or other studies that do not meet expectations, the fact that subsequent analyses of clinical trial or study data may lead to different (including less favorable) interpretations of trial or study results or may identify important implications of a trial or study that are not reflected in Company's prior disclosures, and the fact that trial or study results or subsequent analyses may be subject to differing interpretations by regulatory agencies, the inability to successfully develop the Company's product candidates or receive necessary regulatory approvals, the ability to obtain Breakthrough Therapy Designation for ARIKAYCE in the U.S., the inability to make product candidates commercially successful, changes in anticipated expenses, changes in the Company's financing requirements or ability to raise additional capital, and other risks and challenges detailed in the Company's filings with the U.S. Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2013 and its subsequent quarterly reports on Form 10-Q. Investors are cautioned not to place undue reliance on any forward-looking statements that speak only as of the date of this news release. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances or changes in its expectations.