GW Pharmaceuticals Ltd.

BASEL, Switzerland, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Noema Pharma, a clinical-stage biotech company targeting debilitating central nervous system (CNS) disorders, today announced the appointment of Volker Knappertz, M.D., as Executive Vice President of Research & Development. “We are excited to welcome Volker to Noema. Volker is a recognized leader in drug development with a proven track record building and leading Research and Development organizations and obtaining market approvals for novel drugs, including Epidiolex for the treatment of rare developmental childhood onset forms of epilepsy,” said Ilise Lombardo, M.D., Chief Executive Officer of Noema Pharma. “His experience and expertise across CNS development will be pivotal as Noema enters a transformational year with readouts of multiple Phase 2 studies across our pipeline.” “I am thrilled to join Noema and look forward to the continued clinical development across the company’s multiple indications including seizures in Tuberous Sclerosis Complex, pain in Trigeminal Neuralgia, Tourette syndrome and vasomotor symptoms plus CNS-mediated symptoms of menopause,” said Dr. Knappertz. “Noema’s commitment to patients and innovative approach to CNS disorders is proven by their late-stage clinical pipeline and I look forward to working with the team to bring these first-in-disease therapeutics to patients in need.” Dr. Volker Knappertz has spent over 25 years in drug development and has been involved in numerous Investigational New Drug (IND) filings and product approvals during his career. Prior to joining Noema, Dr. Knappertz served as Executive Vice President of Research & Development (R&D) at Aurinia Pharmaceuticals, where he led the entirety of R&D across multiple programs targeting autoimmune diseases. Dr. Knappertz also served as Executive Vice President of R&D and Chief Medical Officer at GW Pharmaceuticals (acquired by Jazz Pharmaceuticals). During his time at GW, Dr. Knappertz was instrumental in driving the transformation of GW from a botanical pharmaceutical company to a fully integrated biopharmaceutical company following the FDA approval of Epidiolex for the treatment of rare developmental childhood onset forms of epilepsy. In addition, he played a role in several drug approvals and major business development deals during his tenure in leadership positions at Teva Pharmaceuticals, AstraZeneca and Bayer. Dr. Knappertz received his doctorate and Medical Degree from Cologne University and is a US board certified neurologist. He has served as Adjunct Professor in Neurology at the University of Pennsylvania and Heinrich-Heine University in Düsseldorf. About Noema PharmaNoema Pharma is a clinical-stage biotech company advancing a portfolio of transformative, first-in-disease therapeutics targeting neuroscience-based conditions with high unmet need. Noema has four programs currently in active Phase 2 clinical trials evaluating seizures in Tuberous Sclerosis Complex, pain in Trigeminal Neuralgia, Tourette syndrome and vasomotor symptoms plus CNS-mediated symptoms of menopause with readouts expected in 2025. Noema was founded by leading venture capital firm Sofinnova Partners and is supported by current investors including EQT Life Sciences, Forbion, Gilde Healthcare, Invus, Jeito Capital, Polaris Partners and UPMC Enterprises. Learn more at www.noemapharma.com. Investor ContactArgot Partners Maeve Conneighton 212-600-1902noema@argotpartners.com

Jazz Pharmaceuticals CEO Bruce Cozadd is ready to play his outro. On Monday, Cozadd announced plans to retire, nearly 22 years after co-founding Jazz and 15 years after becoming chief executive. He oversaw Jazz’s growth in both neuroscience and oncology, including an approval last month for its HER2-targeted bispecific antibody Ziihera. Cozadd plans to stay on as the chair of Jazz’s board, and will remain CEO until a successor is found. That process is expected to take up to a year and will look at internal and external candidates. “I feel confident that Jazz’s next leader will be well-positioned to build on our legacy of growth and success,” Cozadd said in a news release. Dublin-based Jazz’s neuroscience portfolio is focused on sleep disorders and epilepsy, including Xywav, a lower-sodium alternative to its prior sleep disorder blockbuster Xyrem. Its 2021 acquisition of GW Pharmaceuticals gave it Epidiolex, the first cannabinoid approved in the US for the treatment of seizures. The company recently reported “record revenues” of $1.05 billion in the third quarter of 2024. Jazz said the transition won’t impact full-year guidance, and that it expects to bring in $4 billion to $4.1 billion in 2024 total revenue.

Jazz Pharmaceuticals on Monday said it will begin searching for a successor to CEO Bruce Cozadd, who plans to retire from the company he helped start more than two decades ago.Cozadd will stay on as CEO until Jazz finds his replacement, after which he plans to continue serving as chair of the Dublin-based drugmakers board of directors. The company expects the search process to be completed within one year.Cozadd co-founded Jazz in 2003 and was appointed CEO in April 2009. Since then, he has led the company through the approval of several medicines and the $7 billion acquisition of GW Pharmaceuticals in 2021.He also presided over a 2011 merger with Azur Pharma that moved its corporate headquarters to Ireland a notable example of a business practice known as a “tax inversion.“The company share price has risen from about $1 apiece in April 2009 to $125.20 at Mondays close.It has been the honor of my career to co-found and lead Jazz alongside such a talented team of researchers, scientists and business professionals, Cozadd said in a statement Monday.“With great momentum and the business in a strong position entering 2025, I feel confident that Jazz's next leader will be well-positioned to build on our legacy of growth and success, and continue delivering for our patients, employees, partners and shareholders for years to come, he added.Jazz said that it remains on track to meet its guidance of between $4 billion and $4.1 billion in revenue for the year. The company, which employs some 2,800 people, earns the bulk of its revenue from Xywav, a treatment for cataplexy or excessive daytime sleepiness, and Epidiolex, a cannibidiol-based drug for epilepsy that Jazz acquired via its GW deal.Rick Winningham, Jazzs lead independent director, said the company has been readying for this transition through rigorous succession planning, including by developing internal leaders.The search for Cozadds replacement will be led by a special committee of the board made up of independent directors. External, as well as internal, candidates will be considered. '