Paradigm Biopharmaceuticals Ltd (ASX: PAR), a clinical-stage biopharmaceutical company focused on repurposing existing molecules for new indications with unmet clinical needs, appointed experienced pharmaceutical industry executive Marco Polizzi as its full-time Chief Executive Officer (CEO), effective July 1, 2022.
Polizzi possesses over 30 years of experience in the pharmaceutical industry in various commercially focused roles, including creating new divisions within branded and generic pharmaceutical businesses. Polizzi achieved outstanding sales results in these roles, forged several licenses, asset purchases, and other agreements with multiple top 10 global pharmaceutical companies and numerous other business partners, and generated significant returns for investors.
Polizzi has a proven track record that is highlighted by several successful business and product launches in the U.S. These include a new Institutional (Hospital & Specialty Markets) business unit at Sandoz, driving the growth of a $900 million P&L, as well as directing commercial functions for a product launch (Bivalirudin) that achieved $100+ million in sales in its first year.
Paradigm Chairman Paul Rennie said, “We expect that Marco’s broad expertise will lead Paradigm in attaining its strategic program objectives and increase shareholder value. Paradigm has been seeking a CEO with the skills to unlock the company’s commercial value fully. Marco brings extensive U.S. pharmaceutical experience, a pharmaceutical industry network, operational excellence, transactional expertise, product launch, and product pricing and reimbursement experience to Paradigm. We are confident that this experience will provide significant development and commercial value to Paradigm. Polizzi will be based in the United States and travel to Australia, Europe, and Asia as required.”
Polizzi commented, “With my pharmaceutical experience, I believe I will make a significant contribution to the Paradigm business in the short and long term. I have had the opportunity to meet the Paradigm Board and key management personnel, and I can say that Paradigm’s business excites me. My feeling is primarily based on a potential blockbuster product, which may bring relief to the millions of people globally suffering from the pain and other debilitating effects of osteoarthritis and significantly increase shareholder returns. I look forward to meeting our shareholders in the coming months.”
The Paradigm Board thanks Dr. Donna Skerrett for her unwavering dedication and invaluable contribution to the company’s progress while serving as interim CEO. Dr. Skerrett will continue as Chief Medical Officer with a keen focus on successfully completing the global phase 3 clinical programs for Zilosul® following the FDA’s fast track designation protocol.
Paradigm Biopharmaceuticals LTD (ASX: PAR) is a late-stage drug development company with the mission to develop and commercialize Pentosan Polysulfate Sodium for the treatment of pain associated with musculoskeletal disorders driven by injury, inflammation, aging, degenerative disease, infection, or genetic predisposition. Paradigm also explores proof-of-concept studies for PPS in respiratory and heart failure indications. (https://paradigmbiopharma.com)
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