World News: 13:30 GMT Monday 11th February 2019. [AIT Therapeutics, Inc. via Globe Newswire via SPi World News]
GARDEN CITY, N.Y. and REHOVOT, Israel, Feb. 11, 2019 (GLOBE NEWSWIRE) -- AIT Therapeutics, Inc. (OTCQB: AITB), a clinical-stage medical device and biopharmaceutical company focused on developing inhaled Nitric Oxide (NO) for the treatment of patients with respiratory conditions including serious lung infections and pulmonary hypertension, today announced the appointment of Robert F. Carey to the Company’s Board of Directors.
“Bob is a seasoned healthcare executive and investment banking veteran with an impeccable track record and we are elated that he is joining the Board,” said Steve Lisi, Chairman and Chief Executive Officer of AIT. “His experience as the chief business officer at Horizon Pharma plc over the last five years and as an investment banker for more than two decades will be invaluable to the Board and our management team as AIT forges ahead with a planned launch in the United States of our AirNOvent* system with our commercial partner Circassia Pharmaceuticals, a pivotal study in bronchiolitis anticipated to read out in the second quarter of 2020, and an at-home pilot study in nontuberculous mycobacteria expected to commence by year-end 2019.”
“I am excited to join the impressive Board of AIT, a very well-managed company with a truly revolutionary product,” said Mr. Carey. “The cylinder free nitric oxide generator and delivery system is a highly innovative and disruptive medical device that will make nitric oxide more accessible to patients in a larger number of hospitals in the United States and other countries around the world, as well as make nitric oxide potentially available to infants suffering from bronchiolitis and to patients in the home-setting with severe lung infections. I believe AIT has something very unique and I look forward to sharing my insight with the Board and management team.”
Mr. Carey has an extensive track record of accomplishment within the healthcare investment banking industry. He has assisted biotech and specialty pharma companies raise more than $10 billion in initial public offerings, follow-on offerings, debt offerings, and private placements. He has served as a financial advisor on mergers, acquisitions, and strategic alliance transactions with a total deal value of more than $10 billion. Mr. Carey has served as executive vice president and chief business officer at Horizon Pharma since 2014, during which Horizon Pharma deployed in excess of $3 billion to acquire or license eight commercial products and three products in development and grew net sales from $74 million in 2013 to approximately $1.2 billion* in 2018, a compound annual growth rate of 75%. Before Horizon, he spent more than 11 years as managing director and head of the life sciences investment banking group at JMP Securities. Mr. Carey was a managing director in the healthcare groups at Dresdner Kleinwort Wasserstein and Vector Securities for a total of 14 years. He received his B.B.A. in Accounting from the University of Notre Dame. Mr. Carey currently serves on the board of Sangamo Therapeutics, Inc.
*AirNOvent is not an approved name for the product and may not be the final name submitted for approval.
Bob YedidLifeSci Advisors, LLCBob@LifeSciAdvisors.com(646) 597-6989
Globe Newswire: 13:30 GMT Monday 11th February 2019
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