PITTSBURGH—April 27, 2018— Noveome Biotherapeutics, Inc. has named a veteran executive in pharmaceutical marketing and sales, Patrick Welch, to a new seat on its Board of Directors.
Welch brings to Noveome his expertise gained in more than three decades in the pharmaceutical industry and healthcare management consulting. He spent 27 years at Allergan, Inc., the global pharmaceutical company, serving as a vice-president managing various corporate marketing operations in both the U.S. and Asia. Currently, Welch is president of Loudon, Tennessee-based WeGo Consulting, LLC, which he founded in 2014.
“Pat is an ideal individual to join the Noveome board, as he has an outstanding track record for pre-approval planning, sales and marketing of drugs for complex eye diseases,” said William J. Golden, Noveome’s founder and board chairman. “We are extremely pleased to have him at this critical point in Noveome’s development.”
Noveome recently announced plans to begin clinical trials on its product, ST266, for the treatment of currently untreatable diseases of the brain and eye. ST266 is a complex solution of molecules secreted from novel cells grown using Noveome’s proprietary process. It is being tested for its ability to safely control inflammation, protect and resuscitate nerve cells, and speed healing. To date the company has raised $114 million for research and manufacturing from the U.S. Department of Defense and other state and county government agencies.
“I am honored to join the Noveome Board of Directors and look forward to working with its distinguished members to help guide development, sales and marketing of the company’s promising drug candidate ST266,” said Welch.
Several of Welch’s accomplishments at Allergan relate directly to Noveome’s current focus on optic nerve disease. He was vice-president overseeing Allergan’s US Retina business unit. Previously, he directed Allergan’s entire Glaucoma portfolio, and managed the pre-approval planning for the drug RESTASIS® for treating dry eye (Allergan’s most successful eye drug) and LUMIGAN® for high eye pressure. Beyond ophthalmology, he was involved in Allergan operations concerning medical dermatology, neuroscience, healthcare reimbursement, and government affairs. He was a vice-president and general manager for Allergan Korea, and managing director for Asia.
About Noveome Biotherapeutics, Inc.
Noveome is a clinical stage company focused on breakthrough therapies for the regenerative repair of inflamed or damaged tissues. The company, formerly called Stemnion, Inc., is located in the heart of Pittsburgh’s riverfront Technology Center. The company originally received seed money from UPMC Enterprises, University of Pittsburgh and Carnegie Mellon University when it was founded in 2000.
Noveome Biotherapeutics, Inc.
Gail Kempler, Ph.D., (412) 402-9914
Director, Investor Relations