SCYNEXIS Appoints Accomplished Commercial Executive Christine Coyne as Chief Commercial Officer to Lead the Brexafemme® Launch
- Strengthening the management team with deep anti-infective commercial expertise across hospital and community settings ahead of anticipated approval of Brexafemme (ibrexafungerp) in June 2021 and H2:2021 launch
JERSEY CITY, N.J., May 11, 2021 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (NASDAQ:SCYX), a biotechnology company pioneering innovative medicines to overcome and prevent difficult-to-treat and drug-resistant infections, today announced the appointment of Christine Coyne as Chief Commercial Officer, effective May 10, 2021. Ms. Coyne will play a significant role in the anticipated U.S. launch and commercialization of Brexafemme, the expected trade name for ibrexafungerp, an oral antifungal product candidate for the treatment of vulvovaginal candidiasis (VVC), also known as vaginal yeast infection. The New Drug Application (NDA) for Brexafemme is under review by the U.S. Food and Drug Administration (FDA) with a Prescription Drug User Fee Act (PDUFA) action date of June 1, 2021.
"We are thrilled to welcome Christine to the SCYNEXIS management team," said Marco Taglietti, M.D., President and Chief Executive Officer of SCYNEXIS. "Throughout her career, she has consistently demonstrated a strong track record in successfully launching new products and I believe her proficiency in building and leading performance-driven teams will be a significant asset for our Company. Christine's extensive commercial expertise in the infectious disease space, working across both hospital and community settings, will be equally essential as we launch in our first indication and seek to broaden the ibrexafungerp label to encompass severe and life-threatening infections treated in hospitals."
Ms. Coyne added, "I am excited to join SCYNEXIS because I believe in the potential of ibrexafungerp to address a broad range of fungal infections and its value to physicians and patients who are seeking alternatives to standard of care agents, and particularly to generic fluconazole for women with vaginal yeast infections. The focused SCYNEXIS team has already accomplished a lot in bringing ibrexafungerp to where it is today. I look forward to working with these talented individuals to deliver what could be the first novel antifungal class in over 20 years and the first and only non-azole treatment for vaginal yeast infections."
Ms. Coyne joins SCYNEXIS with 30 years of experience in launch and commercialization of products across multiple therapeutic areas. Most recently, Ms. Coyne served as Senior Vice President, Commercial at Paratek Pharmaceuticals, where she was instrumental in launching the company's first product and adjusting tactics to ensure success, even during external challenges such as the COVID-19 pandemic. Prior to that, Christine led marketing and sales teams in biotech and large pharma companies such as Wyeth-Ayerst Global Pharmaceuticals (now part of Pfizer), Endo, and Auxilium Pharmaceuticals (now part of Endo). Ms. Coyne served as Vice President of Marketing, Sales, and Operations in the United States and globally for specialty pharmaceuticals companies responsible for several approved products. Ms. Coyne holds an M.B.A from Eastern University.
In connection with this appointment, on May 10, 2021, Ms. Coyne was granted an option to purchase 125,000 shares of SCYNEXIS common stock, at a per share exercise price of $6.50, the closing trading price on May 10, 2021. The option has a ten-year term, with one-fourth of the shares subject to the option vesting on the one-year anniversary of the date of grant and the remainder vesting in equal monthly installments for thirty-six months thereafter, provided Ms. Coyne continues to provide service to SCYNEXIS. In addition, Ms. Coyne was granted an equity award of 15,000 Restricted Stock Units ("RSUs") that will vest 25% a year, over a four-year period. The stock option and RSUs were granted pursuant to SCYNEXIS 2015 Inducement Award Plan, as amended in April 2021, which was adopted by the company's board of directors in March 2015 under Rule 5635(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.
About Brexafemme® (ibrexafungerp)
Brexafemme is an oral antifungal product candidate under regulatory review for the treatment of vaginal yeast infection also known as vulvovaginal candidiasis (VVC). Its mechanism of action, glucan synthase inhibition, is fungicidal against Candida species, meaning it kills fungal cells. A New Drug Application (NDA) for Brexafemme is under review by the U.S. Food and Drug Administration (FDA) with a Prescription Drug User Fee Act (PDUFA) action date of June 1, 2021. The NDA is supported by positive results from two Phase 3, randomized, double-blind, placebo-controlled, multi-center studies (VANISH-303 and VANISH-306), in which oral ibrexafungerp demonstrated statistically superior efficacy and a favorable tolerability profile in women with VVC. If approved, Brexafemme would represent the first novel antifungal class in over 20 years and would be the first and only non-azole treatment for vaginal yeast infections.
About SCYNEXIS
SCYNEXIS, Inc. (NASDAQ:SCYX) is a biotechnology company pioneering innovative medicines to help millions of patients worldwide overcome and prevent difficult-to-treat infections that are becoming increasingly drug-resistant. Our lead candidate, ibrexafungerp (formerly known as SCY-078), is a broad-spectrum, IV/oral antifungal agent representing a novel therapeutic class, currently under regulatory review for the treatment of vaginal yeast infection, also known as vulvovaginal candidiasis (VVC), and in late-stage development for the treatment of life-threatening fungal infections in hospitalized patients. The SCYNEXIS team has deep expertise in anti-infective drug development and marketing, which can be leveraged to advance ibrexafungerp from clinical development to commercialization. For more information, visit www.scynexis.com.
CONTACT:
Investor Relations
Irina Koffler
LifeSci Advisors
Tel: (646) 970-4681
[email protected]
Media Relations
Gloria Gasaatura
LifeSci Communications
Tel: (646) 970-4688
[email protected]
