PARIS, June 30, 2014 /PRNewswire/ -- Pharnext SAS announced today that Ipsen has joined its Board of Directors.
- Ipsen will be represented on Pharnext's board of directors by Marc de Garidel, CEO.
- Ipsen has also become a shareholder of Pharnext through the conversion of its bonds into equity.
- Pharnext retains worldwide commercialization rights to PXT-3003 for the treatment of Charcot-Marie-Tooth disease type 1A (CMT 1A).
Daniel Cohen, M.D., Ph.D., Chairman and Chief Executive Officer of Pharnext, said, "By joining our Board of Directors, Ipsen demonstrates its interest in Pharnext's continued efforts towards the development of new therapeutics based on low dose combinations of repositioned drugs, including our most-advanced product PXT-3003 for the treatment of CMT 1A. We are fortunate to be adding someone of Marc de Garidel's stature and breadth of experience to our Board of Directors."
Pharnext is an advanced clinical stage biopharmaceutical company discovering and developing new therapeutics that target multiple key disease pathways for orphan and common neurological diseases including Charcot-Marie-Tooth disease, Alzheimer's disease, amyotrophic lateral sclerosis and Parkinson's disease. These new therapeutics consist of low dose combinations of repositioned drugs selected using Pharnext's proprietary network pharmacology approach. The company's first two lead programs are PXT-3003 for the treatment of Charcot Marie Tooth type 1A (Phase 2 completed) and PXT-864 for Alzheimer's disease (Phase 2 ongoing) and other neurologic indications. Pharnext is supported by BPI France (French Public Investment Bank) and AFM (French Muscular Dystrophy Association).
For further information, please visit www.pharnext.com
VP Finance and Strategy
SOURCE Pharnext SAS