Chase Pharmaceuticals Corporation (Chase), a clinical-stage biopharmaceutical company focused on the development and commercialization of improved treatments for neurodegenerative disorders including Alzheimer's disease, announced today that Douglas S. Ingram has joined the company as Chief Executive Officer and member of the Board of Directors, effective immediately. Mr. Ingram replaces John Siebert, who will continue as a senior advisor to the company. Chase has three compounds in clinical development: CPC-201, nearing the end of its Phase 2 trial and CPC-212 and CPC-250, both of which have successfully completed Phase 1 development. These compounds are next-generation Acetylcholinesterase Inhibitor (AChEI) formulations for the symptomatic treatment of Alzheimer's disease.
Mr. Ingram brings nearly 20 years of biotech, pharmaceutical and medical device leadership to Chase. Most recently, and until its acquisition by Actavis in the first quarter of this year, he was President of Allergan, Inc., a global pharmaceutical company with franchises in Neurosciences, Urology, Ophthalmology and Medical Aesthetics. Previously, Mr. Ingram was President of Allergan's operations in Europe, the Middle East, and Africa; earlier at Allergan was responsible for building and leading numerous aspects of the global organization including Regulatory Affairs and Pharmacovigilance, Legal Affairs, Information Technology, Public Relations and External Communication, Human Resources, Audit and Compliance.
"Alzheimer's disease is one of the greatest unmet medical needs in the US, Japan, Europe and China. Chase offers an exciting and promising opportunity to significantly reduce the burden of this horrible disease," said Greg Parekh, PhD, Chairman of Chase Pharmaceuticals, investment partner at New Rhein Healthcare and former head of M&A at Novartis AG. "Doug has a proven track record of disruptive approaches, building strong teams and delivering above-market performance. With his track record, diverse background and commitment to excellence, I am confident that Doug will successfully develop Chase to its fullest potential. I would also like to thank John for helping bring Chase to where it is today and am pleased he will continue to support us in an advisory capacity."
"I am privileged to lead Chase Pharmaceuticals as we execute an elegant approach to the development of new Alzheimer's treatments, one that offers to profoundly improve the treatment of this serious disease," said Mr. Ingram. "There have been scant improvements in the treatment of Alzheimer's disease in the last two decades, leaving patients and their physicians with few treatment choices and little hope. CPC-201 offers the possibility of significantly improving the performance of the gold-standard treatment of Alzheimer's disease while reducing many of the development risks associated with past R&D approaches. Our goal is to build a strong CNS biopharmaceutical company to improve the lives of the millions of patients and their families burdened by this devastating disease. We have an important mission and I am excited to play a leadership role in this journey."
