Industry Veteran Brings Diverse Strategic and Transaction Experience, Further Strengthens Management Team
Chelsea, Mass. – September 5, 2012 – Civitas Therapeutics, a privately-held pharmaceutical company developing inhaled therapeutics with the clinically-proven ARCUS(TM) dry powder platform, today announced that Bryan Stuart has been appointed Chief Business Officer. In this role Mr. Stuart will lead the company’s corporate development and business development efforts, and he will serve as a member of the company’s executive leadership team.
“We are very pleased to have Bryan join our team,” said Glenn Batchelder, Chief Executive Officer of Civitas Therapeutics. “His strong track record in building valuable product portfolios and establishing successful partnerships through creative transactions will accelerate our efforts to develop important therapies for patients.”
“The transformative therapeutic potential of Civitas’ lead program, CVT-301, for Parkinson’s disease illustrates the power and capabilities of the ARCUS(TM) platform as a product engine,” said Mr. Stuart. “The clinical validation of this technology combined with the existing commercial manufacturing infrastructure uniquely positions Civitas to develop multiple highly differentiated products in a rapid and capital efficient way. I am very excited to join this team in their commitment to improving patients’ lives.”
Prior to joining Civitas, Mr. Stuart led the business and corporate development activities for Ovation Pharmaceuticals and EKR Therapeutics. While at Ovation, Mr. Stuart oversaw numerous transactions involving specialty CNS therapies used for disorders such as Huntington’s disease, refractory epilepsy and infantile spasms. Ovation was sold to H. Lundbeck A/S in 2009 and EKR was sold to Cornerstone Therapeutics earlier this year. He began his career as a healthcare investment banker with William Blair & Company. Mr. Stuart holds a B.S. degree in Finance from the University of Illinois at Urbana-Champaign and an MBA from Northwestern University's Kellogg School of Management.
About Civitas Therapeutics
Civitas is a privately-held pharmaceutical company focused on developing a robust pipeline of inhaled therapeutics with the clinically proven ARCUS(TM) dry powder platform. The company’s lead program for Parkinson’s disease, CVT-301, is intended to treat intermittent and debilitating motor fluctuations resulting from an inadequate response to patients’ standard oral medications. CVT-301 is currently enrolling a Phase 2 dose ranging study following the completion of a successful Phase 1 study which established clinical pharmacokinetic proof-of-concept at end of 2011.The product portfolio includes additional programs in respiratory disease, CNS disorders and infectious disease.
Civitas acquired exclusive rights to the technology and assets underlying the ARCUS(TM) platform from Alkermes plc, including a large intellectual property estate, a set of development stage pipeline assets, specialized equipment for respiratory products and the commercial scale GMP manufacturing facility. Civitas was launched at the beginning of 2011 with Canaan Partners, Fountain Healthcare Partners, Longitude Capital and Alkermes as investors and has additionally been awarded a grant from The Michael J. Fox Foundation for Parkinson’s Research (MJFF).
Stephanie Gillis, 617-660-4121