BERWYN, Pa.--(BUSINESS WIRE)--Virpax® Pharmaceuticals, Inc. (“Virpax” or the “Company”) (NASDAQ: VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and viral barrier indications, announced today that Gerald W. Bruce has been appointed as President and CEO of Novvae™ Pharmaceuticals, Virpax’s wholly-owned subsidiary focused solely on advancing the Company’s OTC pipeline.
Mr. Bruce has spent over 30 years in the pharmaceutical and medical nutrition industries. Most recently, he served as a Vice President of sales for Danone Specialized Nutrition North America, Danone’s medical nutrition division. Prior to this position, he has held roles of increasing responsibility at Nitromed, Inc. and Bristol-Meyers Squibb. Mr. Bruce began his career at Johnson and Johnson and spent 13 years there starting as a sales representative and moving up the ranks to become a Group Marketing Director in Analgesics. He has a BA from Lincoln University and an Executive Master’s Degree in Leadership from Georgetown University’s McDonough School of Business.
“Gerald, with his background in the pharma and medical nutrition industries, is uniquely positioned to lead Novvae. His experience and knowledge of the OTC market will be beneficial to us as we advance AnQlar™ as well as add new nonprescription product candidates that will utilize our novel delivery technologies,” commented Anthony P. Mack, Chairman and CEO of Virpax.
About Novvae Pharmaceuticals
Novvae Pharmaceuticals, a wholly-owned subsidiary of Virpax Pharmaceuticals, is developing over-the-counter (OTC) products using innovative metered-dose drug delivery platforms. Novvae is seeking approval of AnQlar which is being developed to inhibit viral replication caused by influenza or SARS-CoV-2.
About Virpax Pharmaceuticals
Virpax is developing branded, non-addictive pain management products candidates using its proprietary technologies to optimize and target drug delivery. Virpax is initially seeking FDA approval for two prescription drug candidates that employ two different patented drug delivery platforms. Probudur™ is a single injection liposomal bupivacaine formulation being developed to manage post-operative pain and Envelta™ is an intranasal molecular envelope enkephalin formulation being developed to manage acute and chronic pain, including pain associated with cancer. Virpax is also using its intranasal Molecular Envelope Technology (MET) to develop two other product candidates. PES200 is a product candidate being developed to manage post-traumatic stress disorder (PTSD) and NobrXiol™ is a product candidate being developed for the nasal delivery of a pharmaceutical-grade cannabidiol (CBD) for the management of rare pediatric epilepsy. Virpax recently acquired global rights to NobrXiol. Virpax has competitive cooperative research and development agreements (CRADAs) for all three of its prescription drug candidates, two with the National Institutes of Health (NIH) and one with the Department of Defense (DOD). Novvae Pharmaceuticals, a wholly-owned subsidiary of Virpax, is developing over-the-counter (OTC) products using innovative metered-dose drug delivery platforms. Novvae is seeking approval of AnQlar which is being developed to inhibit viral replication caused by influenza or SARS-CoV-2.For more information, please visit virpaxpharma.com and follow us on Twitter, LinkedIn and YouTube.
Forward-Looking Statement
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's planned clinical trials, product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions and include statements regarding Mr. Bruce being uniquely positioned to lead Novvae and his experience and knowledge of the OTC market being beneficial to the Company as it advances AnQlar as well as adds new nonprescription product candidates that will utilize its novel delivery technologies. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential,” "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or the Company’s financial performance and involve known and unknown risks, uncertainties, and other factors, including the contribution of Mr. Bruce, the Company’s ability to advance AnQlar and add new nonprescription product candidates that will utilize its delivery technologies, the Company’s ability to successfully complete research and further development and commercialization of Company drug candidates in current or future indications; the uncertainties inherent in clinical testing; the Company’s ability to manage and successfully complete clinical trials and the research and development efforts for multiple product candidates at varying stages of development; the effects of the outbreak of COVID-19 on the Company’s business and results of operations; the timing, cost and uncertainty of obtaining regulatory approvals for the Company’s product candidates; the Company’s ability to protect its intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company's product candidates; the Company’s ability to continue to obtain capital to meet its long-term liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete clinical trials that the Company plans to initiate; and other factors listed under "Risk Factors" in the Company’s annual report on Form 10-K for the year ended December 31, 2022, the Company’s quarterly reports on Form 10-Q, Current Reports on Form 8-K and subsequent filings with the U.S. Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
