NEWTON, Mass. - (Business Wire) Clinical Data, Inc. (NASDAQ: CLDA) today announced the election of Scott Tarriff to the Board of Directors. Mr. Tarriff has 25 years of pharmaceutical experience, including serving as President and Chief Executive Officer of Par Pharmaceutical, Inc., where he established the company’s first branded pharmaceutical division, and a 12-year career with Bristol-Meyers Squibb. “Scott brings relevant pharmaceutical business and operational expertise to Clinical Data,” said Drew Fromkin, Clinical Data’s President and Chief Executive Officer. “In addition, his experience leading the successful introduction of a number of therapeutic products will be an asset to the Company as we plan for commercialization of our own late-stage product candidates.”
In January 2007, Mr. Tarriff formed Eagle Pharmaceuticals, Inc., a hospital specialty company focused on developing, distributing and in-licensing injectable IV products. Prior to forming Eagle, Mr. Tarriff was President and Chief Executive Officer of Par Pharmaceutical Companies, Inc. He joined Par Pharmaceutical Companies, Inc. as Executive Vice President of Business in 1998 and was named President and Chief Executive Officer of Par Pharmaceutical, Inc., the company’s principal operating subsidiary, in 2001. Mr. Tarriff was elected to its Board of Directors in 2002 and appointed President and Chief Executive Officer of Par Pharmaceutical Companies, Inc. in September 2003.
Under Mr. Tarriff’s direction, Par achieved growth through an aggressive global business development program. He strengthened manufacturing and substantially increased investment in research and development. Before founding his own company, Eagle Pharmaceuticals, Inc., Mr. Tarriff led the most successful product introductions in Par’s history, including generic versions of Prozac®, Paxil®, Megace® O/S, Ultracet® and the company’s first branded pharmaceutical product, Megace® ES.
“This is an ideal time for me to join the Board of Clinical Data as the Company expands its presence in the pharmaceutical market and continues to advance the development of a distinguished product pipeline,” said Mr. Tarriff. “I look forward to working closely with the Board to help guide Clinical Data’s further transition to a commercial-stage pharmaceutical company.”
Mr. Tarriff joined Par following over a decade with Bristol-Meyers Squibb. He received his MBA from Rider College and his undergraduate degree from Pennsylvania State University.
Mr. Tarriff’s appointment brings the number of directors on the Clinical Data Board to seven.
About Clinical Data, Inc.
Clinical Data develops first-in-class and best-in-category targeted therapeutics. The Company is advancing its late-stage drug candidates for central nervous system disorders and cardiovascular diseases, to be followed by promising drug candidates in major therapeutic areas including oncology and inflammatory diseases. Clinical Data plans to differentiate its therapeutics by combining its drug development and biomarker expertise to develop products with enhanced efficacy and tolerability, improving patient health and reducing costs. To learn more, please visit the Company's website at www.clda.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains certain forward-looking information and statements that are intended to be covered by the safe harbor for forward looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about our ability to obtain regulatory approval for, and successfully introduce our late state therapeutic products; our ability to expand our long-term business opportunities; and all other statements regarding future performance. All such information and statements are subject to certain risks and uncertainties, the effects of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to, whether our late-stage therapeutic products will advance further in the clinical trials process and whether and when, if at all, they will receive final approval from the U.S. Food and Drug Administration and equivalent foreign regulatory agencies and for which indications; whether our late-stage therapeutic products will be successfully marketed if approved; our ability to successfully integrate the operations we have acquired and to gain the expected benefits from our divestitures; the strength of our intellectual property rights; competition from pharmaceutical, biotechnology and diagnostics companies; the development of and our ability to take advantage of the market for pharmacogenetic and biomarker products and services; general economic downturns; and those risks identified and discussed by Clinical Data in its filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward looking statements that speak only as of the date hereof. Clinical Data does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in Clinical Data's SEC periodic and interim reports, including but not limited to its Annual Report on Form 10-K for the fiscal year ended March 31, 2009, Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2009, and Current Reports on Form 8-K filed from time to time by the Company.
Clinical Data, Inc.
Theresa McNeely, 617-527-9933 x3373
Vice President
Corporate Communications
