NEW YORK, June 26, 2014 (GLOBE NEWSWIRE) -- Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP ), a clinical-stage pharmaceutical company focused on common disorders of the central nervous system, has appointed Ronald R. Notvest, Ph.D. to its newly created position of Senior Vice President, Commercial Planning and Development.
Dr. Notvest joins Tonix from Evidec, where he applied his expertise in the commercial assessment and analysis of drug products on behalf of a variety of biopharmaceutical industry clients since founding the firm in 2002. From 1992 to 2002, Dr. Notvest held several commercial management positions at Wyeth-Ayerst Pharmaceuticals, including Senior Product Manager of Specialty Products Marketing, where he launched and marketed Rapamune® as well as prepared for the launch of Verdia®. As Associate Director for New Products Marketing, he was responsible for the commercial strategy of a portfolio of pharmaceutical products targeting central nervous system, asthma, immunology, cardiovascular, metabolic and endocrine disorders. Prior to 1992, Dr. Notvest held various scientific and management positions at Wyeth-Ayerst Research, including Section Head with responsibility for managing the drug discovery program for excitatory amino acids. Dr. Notvest earned a B.A. in biology from the University of Delaware as well as a Ph.D. in physiology and an M.B.A. in finance from Rutgers University.
Dr. Notvest said, "As the pharmaceutical reimbursement landscape continues to evolve, I believe it essential to conduct market research, analysis and planning in tandem with drug development. I look forward to working with the Tonix team to develop commercial strategies for its candidates with the goal of optimizing their value."
Seth Lederman, M.D., Chairman and Chief Executive Officer of Tonix, commented, "With a background that combines elements of science and business within the pharmaceutical context, Ron brings a unique set of analytical skills and marketing insights to our company, and we are pleased to have him join Tonix to direct our commercial planning and development activities. Whether we commercialize our prospective products directly or through partners, we expect that Ron's strategic perspective will better position our pharmaceutical assets to broadly address undertreated disorders."
About Tonix Pharmaceuticals Holding Corp.
Tonix develops first-in-class medicines for common disorders of the central nervous system. Fibromyalgia, post-traumatic stress disorder (PTSD), and episodic tension-type headache are characterized by inadequate treatment options, dissatisfaction among patients and physicians, and significant economic impact. Tonix is currently conducting the first anticipated pivotal trial of TNX-102 SL in fibromyalgia, the BESTFIT trial (BEdtime Sublingual TNX-102 SL as Fibromyalgia Intervention Therapy). Tonix expects to begin a Phase 2 trial of TNX-102 SL in PTSD in the third quarter of 2014. Tonix designed TNX-102 SL to decrease pain in fibromyalgia and in PTSD by improving sleep quality. Tonix's second clinical stage investigational new drug, TNX-201, is in development for episodic tension-type headache, and Tonix expects to begin clinical studies of TNX-201 in the fourth quarter of 2014. To learn more, please visit www.tonixpharma.com .
Forward-Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate" and "intend," among others. These forward-looking statements are based on Tonix's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our ability to continue as a going concern; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payer reimbursement; limited sales and marketing efforts and dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K filed with the SEC on March 28, 2014 and future periodic reports filed with the Securities and Exchange Commission. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.
Tonix Pharmaceuticals Holding Corp. Leland Gershell Chief Financial Officer (212) 980-9155 x104 Public Relations: Dian Griesel Int'l. Susan Forman/Laura Radocaj (212) 825-3210
