Pulmatrix Inc. (NASDAQ: PULM) has appointed Anand Veradan to the Board effective July 26, 2021. Vardan will bring experiences in successful product launch and commercialization. Equally, the company announced that Mark Iwicki has resigned from the Board of directors as of July 23, 2021.
Varadan appointed to Pulmatrix board
Currently, Vardan is Chiasm’s (NYSE: CHMA) EVP, chief commercial officer, where he oversees commercial operations and strategy. Additionally, he has served as EVP chief commercial officer at Karyopharm Therapeutics Inc. where he successfully led the launch of Xpovio for Multiple myeloma.
CEO Ted Raad said, “We are delighted to welcome Anand to the Pulmatrix Board. Anand is a recognized leader in the biotech industry and his extensive experience in corporate strategy and commercialization will be invaluable to Pulmatrix’s future growth and success. I look forward to Anand’s guidance as we execute on our vision to bring iSPERSE enabled inhaled therapies to patients with a broad range of large market indications. I’d also like to thank Mark for his invaluable contributions to Pulmatrix during his time on the Board.”
Vardan stated, “I am excited about joining the Pulmatrix Board at such an exciting time in the Company’s evolution as they expand to non-respiratory indications. I look forward to contributing to Pulmatrix’s mission to advance and commercialize their differentiated iSPERSE pipeline, collaborating with management and fellow Board members.”#
Pulmatrix Reports Q1 2021 results
Recently the company reported its Q1 2021 financial results and operations update. In Q1 2021, the company reclaimed full rights for the narrow spectrum kinase inhibitor portfolio that includes PUR1800 after Johnson & Johnson’s Enterprise Innovation terminated its development, license, and commercial agreement. The company will continue PUR1800 development with current toxicology and clinical studies supporting programs in chroming airway diseases and acute exacerbations in COPD.
The company completed a $40 million direct offering extending its cash runway to finance data readouts in its pipeline, including PUR3100 phase 1/2 and PUR180 Phase 1b.