Innocoll AG Announces Departure of Chief Medical Officer

ATHLONE, Ireland -- Innocoll AG (NASDAQ:INNL) announced that James P. Tursi, M.D., will depart Innocoll to pursue another opportunity. Dr. Tursi will remain with Innocoll until September 21, 2015.

"James has done a great job advancing our lead assets into advanced clinical development during his tenure at Innocoll," said Tony Zook chief executive officer of Innocoll. "Phase 3 clinical trials for both Cogenzia and XaraColl are actively recruiting patients. The U.S clinical program plans for CollaGUARD are in place and we anticipate initiating interactions with the FDA to discuss them in the fourth quarter. Although we are disappointed by his leaving, we credit James with completing the key groundwork that is enabling us to focus on clinical trial execution for Cogenzia and XaraColl and moving toward discussions of our CollaGUARD clinical plan with regulators. We are in good position while we search for his successor. We wish James well in his next career role."

Dr. Tursi joined Innocoll in March 2015. His initial priorities upon assuming the position were to initiate the Phase 3 programs for Cogenzia and XaraColl and to finalize the U.S. clinical program plans for CollaGUARD. Both the Cogenzia and XaraColl Phase 3 programs began recruiting patients in 2015 as planned. Interactions with regulators on the CollaGUARD pivotal trial proposed program are on track to begin in the fourth quarter of 2015.

"I appreciate the challenge and opportunity to work with the team on advancing Innocoll's late stage clinical pipeline," said Dr. Tursi. "I leave Innocoll with the conviction that the company's key clinical programs will continue to progress as anticipated and that the team is fully prepared to execute on its objectives. I wish the Innocoll team the best as they bring needed medicines to patients."


About Innocoll AG

Innocoll is a global, commercial-stage, specialty pharmaceutical company. The company develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies. The company's late stage product pipeline is focused on addressing a number of large unmet medical needs, including: XaraColl® for the treatment of post-operative pain; Cogenzia® for the adjuvant treatment of diabetic foot infections; and CollaGUARD®, a barrier for the prevention of post-surgical adhesions. The company's approved products include: CollaGUARD(Ex-US), Collatamp® G, Septocoll®, RegenePro®, Collieva®, CollaCare®, Collexa®, and Zorpreva™, which are sold through strategic partnerships with various partners including Takeda, Biomet, and EUSA Pharma. All of the company's products and product candidates are made using Type 1 collagen and are manufactured in-house at its facility in Saal, Germany. CollaRx®, Collatamp®, CollaGUARD®, Collieva®, CollaCare®, Collexa®, Cogenzia® LidoColl®, LiquiColl®, Septocoll®, and XaraColl® are registered trademarks, and CollaPress™, DermaSil™, Durieva™, and Zorpreva™ are trademarks of the company.