Brings Over 25 Years of Women's Health Commercialization Experience
Company to Capitalize on Major Unmet Contraceptive Need
PRINCETON, NJ -- (Marketwire) -- 08/12/08 -- Agile Therapeutics, Inc., today announced the
appointment of industry expert, Al Altomari, as Chairman of its Board of
Directors. Mr. Altomari brings to Agile more than 25 years of executive
leadership experience in the pharmaceutical industry, with more than 18 of
those years focused on the development and successful commercialization of
specialty pharmaceutical products, in particular in women's health and
dermatology.
Thomas Rossi, Ph.D., Agile's President and Chief Executive Officer,
commented on Mr. Altomari's appointment, "I am delighted to welcome Al as
Chairman of the Board. As a former independent Director since 2003, he is
a trusted advisor. Al understands our business and is well acquainted with
Agile's management and the rest of the Board."
Dr. Rossi continued, "Recently, we completed Phase 2b clinical development
of our innovative, low-dose contraceptive patch. According to our most
recent market research study of 1,000 women, more than 30 percent of women
are not satisfied with their current contraceptive methods, and more than
50 percent of women would talk to their doctor about Agile's low-dose,
once-weekly contraceptive patch. If approved, Agile's patch is expected to
fill a sizeable need in the $6 billion global ($2.5 billion U.S.) hormonal
contraceptive market. Al brings a tremendous amount of product
commercialization and business development experience, in particular in the
contraceptive market, and will play a key role in helping us build upon our
recent successes."
Mr. Altomari currently serves as Chief Executive Officer of Barrier
Therapeutics (NASDAQ: BTRX). In June 2008, Barrier and Stiefel
Laboratories, Inc., signed a definitive merger agreement which valued
Barrier at $148 million, a 73 percent premium to Barrier's average closing
price for 30 days prior to the announcement date. He initially joined
Barrier as Chief Commercial Officer in August 2003 and later served as the
Company's Chief Operating Officer. During his tenure at Barrier, Mr.
Altomari spearheaded the development of the Company's commercial
infrastructure, commercialization of Barrier's product portfolio, as well
as management of all worldwide business development initiatives.
Prior to joining Barrier, Mr. Altomari served in numerous executive roles
within Johnson & Johnson, where he successfully led the integration of
Ortho Dermatological and Neutrogena Professional. Mr. Altomari also served
as Vice President of Ortho-McNeil Pharmaceutical's Women's Health Care
Franchise, where he introduced several life cycle and new product
development initiatives, including the launch of Ortho EVRA®, the only
contraceptive patch on the market today.
Mr.
