BioDelivery Sciences President and Chief Executive Officer Dr. Mark A. Sirgo to Retire at Year-End While Continuing as Vice Chairman
PRNewswire: August 23, 2017 – RALEIGH, NC, U.S.A. – BioDelivery Sciences International, Inc. (NASDAQ: BDSI) announced today that at the end of 2017, Dr. Mark A. Sirgo will retire as BDSI’s president and chief executive officer, roles which he has held since 2005. Dr. Sirgo will remain as vice chairman of the Board of Directors, where he will continue to provide leadership and guidance to BDSI. Dr. Sirgo and the Board will work together during the coming months to determine his successor.
“After 13 years of leading BDSI from a start-up through three drug approvals and the creation of a fully integrated pharmaceutical company, highlighted by the recent reacquisition and early commercial success of BELBUCA® , the business is very well positioned for long-term growth. With the outstanding team we have built and the overall strength of the business, year-end felt like the appropriate time for me to retire from my day-to-day role,” said Dr. Sirgo. “Announcing my plans now allows for the timely selection and onboarding of my replacement, a proven leader with significant commercial experience, before year-end. In my ongoing role as vice chairman, I will continue to offer my guidance to ensure a smooth and thoughtful management transition while also providing strategic insight for the growth of BDSI, as we continue to focus and execute on our commercial strategy. In addition, during the next several months, I will be working with our experienced management team to achieve the goals I publicly outlined earlier this year, the most important of which are hitting our revenue target and continuing to evaluate strategic opportunities to enhance shareholder value.” Dr. Sirgo was one of two founders of Arius Pharmaceuticals, which was merged with BDSI in August of 2004. Arius brought to BDSI the BioErodible MucoAdhesive film (BEMA® ) technology that became the platform from which BDSI’s product pipeline evolved.
Dr. Sirgo successfully led the company through the clinical development, U.S. Food and Drug Administration (FDA) approvals, and launches of ONSOLIS® (fentanyl buccal soluble film), BUNAVAIL® (buprenorphine and naloxone) buccal film, and BELBUCA® (buprenorphine) buccal film, while simultaneously transforming BDSI into a fully integrated pharmaceutical company. Early commercialization partnerships with companies including Meda Pharmaceuticals, and later with Endo Pharmaceuticals and Collegium Pharmaceutical, secured nearly $250 million in partnering dollars, allowing BDSI the opportunity to develop its pipeline while limiting the use of the company’s equity. More recently, Dr. Sirgo was instrumental in the reacquisition of BELBUCA® under favorable financial terms from Endo, which has strengthened the commercial future of BDSI. “Mark’s accomplishments during his tenure reflect his commitment to hard work, a continual focus on building a quality pharmaceutical company, and unwavering dedication to creating shareholder value,” stated Dr. Frank O’Donnell, chairman of BDSI’s Board.
“Mark’s leadership and vision for drug development, much of which has been built from the BEMA platform that was acquired when Mark joined BDSI, have been instrumental to BDSI’s growth, including three successful drug approvals and the launch of a full commercial organization. We thank Mark for his innumerable contributions to BDSI and look forward to Mark’s continued leadership through this transition and his continued guidance as vice chairman.”
BioDelivery Sciences International, Inc. (NASDAQ: BDSI) is a specialty pharmaceutical company with a focus in the areas of pain management and addiction medicine. BDSI is utilizing its novel and proprietary BioErodible MucoAdhesive (BEMA® ) technology and other drug delivery technologies to develop and commercialize, either on its own or in partnership with third parties, new applications of proven therapies aimed at addressing important unmet medical needs.
BDSI’s marketed products and those in development address serious and debilitating conditions such as breakthrough cancer pain, chronic pain, and opioid dependence. BDSI’s headquarters is in Raleigh, North Carolina.
