Company continues to expand its senior leadership team to execute on
the development and commercialization of FV-100 for shingles, and to
build a pipeline of novel virology therapeutics
NEW YORK--(BUSINESS WIRE)--
ContraVir Pharmaceuticals, Inc. (OTCBB:CTRV), an emerging
biopharmaceutical company focused on the development and
commercialization of targeted antiviral therapies, announced today that
William Hornung has joined the Company as its Chief Financial Officer.
Mr. Hornung has over 22 years of finance and operations leadership
experience in the biopharmaceutical industry with companies such as PTC
Therapeutics (NASDAQ:PTCT), Elan Pharmaceuticals, and The Liposome
“We are excited for Bill to take on this important role at the Company,
as we advance our business plan to fully develop FV-100 as a novel
treatment for shingles,” said James Sapirstein, Chief Executive Officer
of ContraVir Pharmaceuticals. “Bill’s experience in executing the
finance function and contributing to the strategic planning and
operations of emerging biopharmaceutical companies is essential, and
will help ContraVir achieve its objective to become a leader in the
antiviral drug segment.”
Prior to becoming CFO at ContraVir, Mr. Hornung held positions of
increasing responsibility with PTC Therapeutics Inc., most recently
serving as Vice President of Finance. During his tenure at PTC
Therapeutics (December 2002 through March 2014), Mr. Hornung oversaw the
IPO process, in which PTC became a publicly traded company. Mr. Hornung
also held positions of increasing responsibility with Elan
Pharmaceuticals (formerly The Liposome Company) from 1998 through 2002.
At Liposome and Elan, he was responsible for strategic planning and
operations of the company’s UK-based European headquarters. Earlier in
his career, Mr. Hornung worked for a clinical research organization
where he was responsible for project management and all financial
aspects of the company. Mr. Hornung holds a Bachelor of Science in
Accounting from the William Paterson State University of New Jersey.
About ContraVir Pharmaceuticals
ContraVir is a biopharmaceutical company focused on the discovery and
development of targeted antiviral therapies. ContraVir’s lead candidate,
FV-100, is an orally available nucleoside analogue prodrug that is being
developed for the treatment of herpes zoster, or shingles, which is an
infection caused by the reactivation of varicella zoster virus (VZV).
Published preclinical studies demonstrate that FV-100 is significantly
more potent against VZV than acyclovir, famcyclovir, and valacyclovir,
the FDA approved drug for treating shingles. Moreover, FV-100 has been
shown to have a more rapid onset of antiviral activity in preclinical
models, and may fully inhibit the replication of VZV more rapidly than
these drugs at significantly lower concentration levels and with a
better dosing regimen. Phase I trials of FV-100 in volunteers were
successfully completed, as well as a Phase IIa clinical trial in
shingles patients. ContraVir plans to conduct a Phase IIb trial in
patients with shingles to further explore FV-100’s potential to treat
the long-lasting nerve pain typically associated with shingles.
ContraVir was formed in May 2013 by Synergy Pharmaceuticals Inc.
(NASDAQ:SGYP) and spun off as an independent public company in January
2014. For more information, please visit www.contravir.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," "estimated" and "intend," among
others. These forward-looking statements are based on ContraVir'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 with respect to lengthy and expensive clinical trials,
that results of earlier studies and trials may not be predictive of
future trial results; 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 drug
candidates under development, there are significant risks in the
development, regulatory approval, and commercialization of new products.
There are no guarantees that future clinical trials discussed in this
press release will be completed or successful, or that any product will
receive regulatory approval for any indication or prove to be
commercially successful. ContraVir does not undertake an obligation to
update or revise any forward-looking statement. Investors should read
the risk factors set forth in ContraVir's Form 10-K for the year ended
December 31, 2013 and other periodic reports filed with the Securities
and Exchange Commission.
ContraVir Pharmaceuticals, Inc.
Source: ContraVir Pharmaceuticals, Inc.