SAN DIEGO, Jan. 03, 2017 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. (Nasdaq: APRI ), a biopharmaceutical company advancing innovative medicines in urology and rheumatology, today announced that Mary Naggs has been promoted to Vice President, General Counsel, effective January 1, 2017. Ms. Naggs will report directly to Richard Pascoe, the Company’s Chief Executive Officer, and serve as a member of the Company’s executive team.
Ms. Naggs advances from the position of Associate General Counsel. Since joining Apricus in 2011, she has held various roles with increasing responsibility. In her new role, Ms. Naggs will oversee all legal matters, including contracts, corporate governance, employment, financing transactions, compliance and intellectual property.
“Mary’s valuable counsel and unmatched corporate knowledge and experience have made her an institutional asset,” says Mr. Pascoe. “She is involved in every aspect of the business and she has proven her dedication to the Company and our corporate objectives. We are pleased to have Mary join the executive team and we are confident she will continue to be a strong and important leader within our Company while we focus on achieving profitability through Vitaros ® revenue growth and obtaining Vitaros FDA approval in the United States in 2018.”
Ms. Naggs graduated summa cum laude from Thomas Jefferson School of Law and she received her bachelor’s degree in biochemistry and cell biology from Revelle College, University of California at San Diego.
Ms. Naggs stated, “I truly appreciate the trust from Rich and the Company’s board of directors that comes with this promotion to Vice President, General Counsel. I look forward to leading the legal function and serving on the executive team as we focus on accomplishing our key objectives in 2017 and beyond.”
About Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI) is a biopharmaceutical company advancing innovative medicines in urology and rheumatology. Apricus’ commercial product, Vitaros ® , for the treatment of erectile dysfunction, is approved in Canada and certain countries in Europe, Latin America and the Middle East and is being commercialized in certain countries in Europe and the Middle East. In September 2015, Apricus in-licensed the U.S. development and commercialization rights for Vitaros from Allergan. Apricus’ marketing partners for Vitaros include Recordati Ireland Ltd. (Recordati), Ferring International Center S.A. (Ferring Pharmaceuticals), Laboratoires Majorelle, Bracco S.p.A., Mylan NV and Elis Pharmaceuticals Ltd. Apricus currently has one active product candidate, RayVa ™ , its product candidate for the treatment of the circulatory disorder Raynaud’s phenomenon.
For further information on Apricus, visit http://www.apricusbio.com .
*Vitaros ® is a registered trademark of NexMed International Limited. Such trademark is registered in certain countries throughout the world and pending registration in the United States.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, as amended. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things: references to potential profitability, Vitaros ® revenue growth and potential Vitaros FDA approval in the United States in 2018. Actual results could differ from those projected in any forward-looking statements due to a variety of reasons that are outside the control of the Company, including, but not limited to: the Company’s dependence on a number of commercial partners for Vitaros-related revenue growth in territories outside the United States; the Company’s ability to address the FDA’s requirements for additional clinical and pre-clinical data prior to the Vitaros NDA re-submission; the Company’s ability to raise additional funding that it may need to continue to pursue its commercial and business development plans; and the ability to retain key personnel. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Readers are urged to read the risk factors set forth in the Company's most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.
Contact: Matthew Beck mbeck@troutgroup.com The Trout Group LLC (646) 378-2933
