SAN DIEGO, May 25, 2011 (GLOBE NEWSWIRE) -- Zogenix, Inc. (Nasdaq:ZGNX), a pharmaceutical company commercializing and developing products for the treatment of central nervous system disorders and pain, announced today that the Company's stockholders have elected Mark Wiggins as a new member of the Company's Board of Directors. Zogenix's stockholders also re-elected Cam L. Garner and Louis C. Bock to the Board. Mr. Wiggins will also serve as a member of the Compensation Committee of the Board.
Mr. Wiggins brings over 25 years of product commercialization and business development experience to the Zogenix Board. Mr. Wiggins currently serves as the Chief Business Officer of Mpex Pharmaceuticals overseeing strategic business operations of the company. Prior to Mpex, Mr. Wiggins served as Executive Vice President, Corporate and Business Development of Biogen Idec, Inc. In this position, he was responsible for worldwide partnering, licensing and corporate acquisitions. Prior to Biogen's merger with Idec Pharmaceuticals in 2003, Mr. Wiggins was the Vice President of Marketing and Business Development at Idec, serving on the management committee for the collaboration with Genentech on Rituxan®. Mr. Wiggins received his B.S. degree in Finance from Syracuse University and an M.B.A. from the University of Arizona.
Cam L. Garner, Chairman of the Board, said, "We are pleased to welcome Mark to the Zogenix Board of Directors. He has an ideal mix of experience in product commercialization and business development that will be valuable as we continue to drive adoption of SUMAVEL DosePro, prepare for commercialization of ZX002, and look for partnership opportunities that leverage our patented DosePro delivery system. We expect that Mark will provide valuable strategic contributions as a Board member and I look forward to working with him as we continue to grow Zogenix's business."
In addition to Mpex and Biogen Idec, Mr. Wiggins' 25 years of pharmaceutical and biotechnology industry experience includes senior positions at Pfizer, Johnson & Johnson's Ortho Pharmaceutical, Schering Plough and Hybridon. Throughout his career he held progressively senior positions across the commercialization spectrum, covering marketing, reimbursement, licensing, acquisitions, and collaborations.
Mr. Wiggins commented, "I am excited to join Zogenix at this key stage in its development. The Company has several commercial avenues for growth and an established drug delivery platform technology. I look forward to working with the Board and management to maximize the Company's potential."
About Zogenix
Zogenix, Inc. (Nasdaq:ZGNX), with offices in San Diego and Emeryville, California, is a pharmaceutical company commercializing and developing products for the treatment of central nervous system disorders and pain. Zogenix's first commercial product, SUMAVEL® DosePro® (sumatriptan injection) Needle-free Delivery System, was launched in January 2010 for the acute treatment of migraine and cluster headache. Zogenix's lead product candidate, ZX002, is a novel, oral, single-entity controlled-release formulation of hydrocodone currently in Phase 3 clinical trials for the treatment of moderate to severe chronic pain in patients requiring around-the-clock opioid therapy.
Forward Looking Statements
Zogenix cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "indicates," "will," "intends," "potential," "suggests," "assuming," "designed" and similar expressions are intended to identify forward-looking statements. These statements are based on the company's current beliefs and expectations. These forward-looking statements include statements regarding the adoption of SUMAVEL DosePro and the growth of Zogenix's business. The inclusion of forward-looking statements should not be regarded as a representation by Zogenix that any of its plans will be achieved. Actual results may differ from those set forth in this presentation due to the risk and uncertainties inherent in Zogenix's business, including, without limitation: the market potential for migraine treatments, and Zogenix's ability to compete within that market; inadequate therapeutic efficacy or unexpected adverse side effects relating to SUMAVEL DosePro that could prevent its ongoing commercialization, or that could result in recalls or product liability claims; Zogenix's dependence on its collaboration with Astellas Pharma US, Inc. to promote SUMAVEL DosePro; the ability of Zogenix to ensure adequate and continued supply of SUMAVEL DosePro to successfully meet anticipated market demand; the ability of Zogenix and its licensors to obtain, maintain and successfully enforce adequate patent and other intellectual property protection of its products and product candidates and the ability to operate its business without infringing the intellectual property rights of others; and other risks described in Zogenix's filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Zogenix undertakes no obligation to revise or update this presentation to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
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RITUXAN is a trademark of Biogen Idec.
SUMAVEL (R) and DosePro (R) are registered trademarks of Zogenix, Inc.
CONTACT: INVESTORS: Zack Kubow | The Ruth Group 646.536.7020 | zkubow@theruthgroup.com MEDIA: Jason Rando | The Ruth Group 646.536.7025 | jrando@theruthgroup.com