Aesthetic Med & Dermatology Veterans Join Follica

RNS Number : 6295L

PureTech Health PLC

14 January 2021

 

14 January 2021

 PureTech Health plc

PureTech Founded Entity Follica Adds Two Leaders in Aesthetic Medicine and Dermatology to its Board of Directors  

Bringing a depth of expertise in product registration, commercial & business development

Tom Wiggans, former CEO of Dermira, joins as Executive Chairman 

Michael Davin, former CEO of Cynosure, joins Board of Directors

PureTech Health plc (LSE: PRTC, NASDAQ: PRTC) ("PureTech" or the "Company") is p leased to note that its Founded Entity, Follica, today announced the appointment of two veteran biotech executives to its Board of Directors.

Tom Wiggans joins as Executive Chairman with over 30 years of experience leading biopharmaceutical companies from the start-up stage to global commercialization . Mr. Wiggans most recently co-founded and served as   Chairman and Chief Executive Officer of Dermira, a company   developing new therapies for chronic skin conditions. He led the company through two Phase 3 trials that resulted in U.S. Food and Drug Administration approval of its lead therapy, Qbrexza ^â (glycopyrronium), and the advancement into Phase 3 of its novel monoclonal antibody for atopic dermatitis. Mr. Wiggans guided Dermira through Eli Lilly's acquisition of the company for approximately $1.1 billion in January of 2020.

Michael Davin joins as an independent member of the Board of Directors. Mr. Davin brings to Follica over 30 years of experience in the medical device industry, including 14 years as Chief Executive Officer at Cynosure, which develops and manufactures medical and aesthetic treatments for skin revitalization, scar reduction, hair removal and more. He led the company through an IPO, international expansion and its acquisition by Hologic, Inc. for $1.65 billion in 2017.

The full text of the announcement from Follica is as follows:

Follica Adds Two Leaders in Aesthetic Medicine and Dermatology to its Board of Directors  

Bringing a depth of expertise in product registration, commercial & business development

Tom Wiggans, former CEO of Dermira, joins as Executive Chairman  

Michael Davin, former CEO of Cynosure, joins Board of Directors

BOSTON, January 14, 2021 - Follica Inc. ("Follica") , a biotechnology company developing a regenerative platform designed to treat androgenetic alopecia, epithelial aging and other related conditions, today announced the appointment of two veteran biotech executives to its Board of Directors.

Tom Wiggans joins as Executive Chairman with over 30 years of experience leading biopharmaceutical companies from the start-up stage to global commercialization . Mr. Wiggans most recently co-founded and served as   Chairman and Chief Executive Officer of Dermira, a company   developing new therapies for chronic skin conditions. He led the company through two Phase 3 trials that resulted in U.S. Food and Drug Administration approval of its lead therapy, Qbrexza ^â (glycopyrronium), and the advancement into Phase 3 of its novel monoclonal antibody for atopic dermatitis. Mr. Wiggans guided Dermira through Eli Lilly's acquisition of the company for approximately $1.1 billion in January of 2020.

Michael Davin joins as an independent member of the Board of Directors. Mr. Davin brings to Follica over 30 years of experience in the medical device industry, including 14 years as Chief Executive Officer at Cynosure, which develops and manufactures medical and aesthetic treatments for skin revitalization, scar reduction, hair removal and more. He led the company through an IPO, international expansion and its acquisition by Hologic, Inc. for $1.65 billion in 2017.

"We are very pleased to welcome Tom and Michael to the Follica board," said Jason Bhardwaj, Chief Executive Officer of Follica. "They bring valuable insights in both product and business development, with particular expertise in dermatology and aesthetic medicine. This is an exciting time of growth for Follica, as we prepare to launch a Phase 3 study in male androgenetic alopecia this year. We look forward to working closely with Tom and Michael to drive our strategy through this pivotal trial."

Prior to founding Dermira, Mr. Wiggans served as Chairman of the Board of Directors and Chief Executive Officer of Peplin, Inc. until Peplin's acquisition by LEO Pharma A/S. He has served on the boards of multiple companies, including Onyx Pharmaceuticals, Inc. until its acquisition by Amgen. In addition, Mr. Wiggans was instrumental in the formation of Biotechnology Innovation Organization (BIO) and served on its Board of Directors for many years. He is currently on the Board of Directors at Annexon Biosciences and Forma Therapeutics. He is also a member of the Board of Trustees of the University of Kansas Endowment Association. He holds a B.S. in pharmacy from the University of Kansas and an MBA from Southern Methodist University.

"Follica's platform has strong potential across several important indications, including the lead indication androgenetic alopecia, a condition with tremendous unsatisfied need with approximately 90 million men and women affected in the United States alone," said Mr. Wiggans. "I'm pleased to join the team to help guide clinical and business strategy through its continued development of a potential treatment for this condition, which could have a significant impact for the broad range of individuals who have long been seeking a more effective approach to growing new hair."

Before joining Cynosure, Mr. Davin served as a Co-Founder and Vice President of Worldwide Sales and Strategic Development of Cutera, Inc., a provider of laser and other light-based aesthetic treatment systems. Mr. Davin holds Board of Director positions at Allurion Technologies, Inkbit Technologies, 15-40 Connection and OpenTable. He holds a B.S. and B.A. from Southern New Hampshire University.

"Follica has made excellent progress in advancing a novel treatment for hair loss, a condition that has serious implications for both men and women," said Mr. Davin. " I look forward to working alongside my fellow board members and the management team as we advance the program for our first indication and explore the scientific potential in related conditions."

About Follica

Follica is a biotechnology company developing a regenerative platform designed to treat androgenetic alopecia, epithelial aging and other related conditions. Founded by PureTech Health (LSE: PRTC, Nasdaq: PRTC), a co-inventor of the current platform, and a group of world-renowned experts in hair follicle biology and regenerative medicine, Follica's experimental treatment platform is designed to induce an embryonic window via a device with optimized parameters to initiate hair follicle neogenesis, the formation of new hair follicles from epithelial (skin) stem cells. This process is enhanced through the application of a topical compound. Follica completed a safety and efficacy optimization study in 2019, and its Phase 3 registration program in male androgenetic alopecia is expected to begin in 2021. Follica's technology is based on work originating from the University of Pennsylvania that has been further developed by Follica's internal program. Follica's extensive IP portfolio includes IP exclusively licensed from the University of Pennsylvania as well as Follica-owned IP.

About PureTech Health

PureTech is a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, including intractable cancers, lymphatic and gastrointestinal diseases, central nervous system disorders and inflammatory and immunological diseases, among others. The Company has created a broad and deep pipeline through the expertise of its experienced research and development team and its extensive network of scientists, clinicians and industry leaders. This pipeline, which is being advanced both internally and through PureTech's Founded Entities, as of the date of PureTech's most recently filed Registration Statement on Form 20-F, was comprised of 24 products and product candidates, including two that have received FDA clearance and European marketing authorization. All of the underlying programs and platforms that resulted in this pipeline of product candidates were initially identified or discovered and then advanced by the PureTech team through key validation points based on the Company's unique insights into the biology of the brain, immune and gut, or BIG, systems and the interface between those systems, referred to as the BIG Axis.

For more information, visit www.puretechhealth.com or connect with us on Twitter @puretechh.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that are or may be forward-looking statements, including statements that relate to our product candidates and approach towards addressing major diseases, future prospects, developments, and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, our expectations regarding the addition of Mr. Wiggans and Mr. Davin to Follica's Board of Directors and those risks and uncertainties described in the risk factors included in the regulatory filings for PureTech Health plc. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law and regulatory requirements, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: Investors EU media U.S. media Allison Mead Talbot [phone] [e-mail] Ben Atwell, Rob Winder [phone] [e-mail] Stephanie Simon [phone] [e-mail]

 

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