Grand Prairie, Texas-based pharmaceutical company Neos Therapeutics, Inc., which is currently developing three proprietary extended-release (XR) treatments indicated for attention deficit hyperactivity disorder (ADHD), recently announced the appointment of two new members to its Board of Directors: Paul Edick, who is the current Managing Partner of 3G Advisors, LLC, and John Schmid, the former Chief Financial Officer of Auspex Pharmaceuticals, Inc. Edick and Schmid join Neos at a time when the company is making headlines over news of its recent IPO announcement on July 23rd.
“It is with great pleasure that we welcome both Paul and John to our Board of Directors. Their extensive experience in industry-specific business and product development, strategic planning, and leadership, coupled with their financial expertise, will be extremely valuable to Neos as the Company continues to progress towards commercialization of its proprietary products,” said Alan Heller, Chairman of the Board, Neos Therapeutics.
3G Advisors, LLC is a consultancy to the pharmaceutical, healthcare and investor communities. Between July 2010 and November 2014, Edick served as Durata Therapeutics’ CEO before it was acquired by Actavis plc. From 2008 to 201o, he was CEO of Ganic Pharmaceuticals, and prior to that was CEO at MedPointe Healthcare, Inc. from 2006 to 2008. Before his term as CEO at MedPointe, he fulfilled the role of President of Pharmaceutical Operations from 2002 to 2006. At present, he holds board of directors memberships at NewLink Genetics, Inc. and Circassia Ltd.
Schmid’s term as Auspex Pharmaceuticals’ CFO ran from September 2013 to June 2015, when the company was sold to Teva Pharmaceuticals. Before this role, he co-founded Trius Therapeutics, Inc., where he served as CFO from June 2004 until the company’s merger with Cubist Pharmaceuticals, Inc. in September 2013. He also fulfilled the role of CFO at GeneFormatics from 1998 to 2003, and at Endonetics, Inc. from 1995 to 1998. Today, he is the chairman of the board of directors of Speak, Inc.
In an earlier report, Neos Therapeutics recently presented at the American Society of Clinical Psychopharmacology’s Annual Meeting (ASCP) in Miami, Florida data from 2 clinical trials on Cotempla XR-ODT™ (formerly NT-0102), a methylphenidate XR orally-disintegrating tablet (ODT) drug candidate, along with the company’s amphetamine XR-ODT drug candidate. The data presentations confirmed that both substances have a concentration-time profile for a daily dose that maintains its properties even in the presence of high fat meals and alcohol. Neos will look to further support its development of Cotempla XR-ODT through the announcement of its Initial Public Offering made last week, which will lead to increased funding for the company’s drug development program.