ContraVir Pharmaceuticals, Inc. (OTCBB:CTRV), an emerging biopharmaceutical company focused on the development and commercialization of targeted antiviral therapies, announced today that William Hornung has joined the Company as its Chief Financial Officer. Mr. Hornung has over 22 years of finance and operations leadership experience in the biopharmaceutical industry with companies such as PTC Therapeutics (NASDAQ:PTCT), Elan Pharmaceuticals, and The Liposome Company.
“We are excited for Bill to take on this important role at the Company, as we advance our business plan to fully develop FV-100 as a novel treatment for shingles,” said James Sapirstein, Chief Executive Officer of ContraVir Pharmaceuticals. “Bill’s experience in executing the finance function and contributing to the strategic planning and operations of emerging biopharmaceutical companies is essential, and will help ContraVir achieve its objective to become a leader in the antiviral drug segment.”
Prior to becoming CFO at ContraVir, Mr. Hornung held positions of increasing responsibility with PTC Therapeutics Inc., most recently serving as Vice President of Finance. During his tenure at PTC Therapeutics (December 2002 through March 2014), Mr. Hornung oversaw the IPO process, in which PTC became a publicly traded company. Mr. Hornung also held positions of increasing responsibility with Elan Pharmaceuticals (formerly The Liposome Company) from 1998 through 2002. At Liposome and Elan, he was responsible for strategic planning and operations of the company’s UK-based European headquarters. Earlier in his career, Mr. Hornung worked for a clinical research organization where he was responsible for project management and all financial aspects of the company. Mr. Hornung holds a Bachelor of Science in Accounting from the William Paterson State University of New Jersey.
About ContraVir PharmaceuticalsContraVir is a biopharmaceutical company focused on the discovery and development of targeted antiviral therapies. ContraVir’s lead candidate, FV-100, is an orally available nucleoside analogue prodrug that is being developed for the treatment of herpes zoster, or shingles, which is an infection caused by the reactivation of varicella zoster virus (VZV). Published preclinical studies demonstrate that FV-100 is significantly more potent against VZV than acyclovir, famcyclovir, and valacyclovir, the FDA approved drug for treating shingles. Moreover, FV-100 has been shown to have a more rapid onset of antiviral activity in preclinical models, and may fully inhibit the replication of VZV more rapidly than these drugs at significantly lower concentration levels and with a better dosing regimen. Phase I trials of FV-100 in volunteers were successfully completed, as well as a Phase IIa clinical trial in shingles patients. ContraVir plans to conduct a Phase IIb trial in patients with shingles to further explore FV-100’s potential to treat the long-lasting nerve pain typically associated with shingles. ContraVir was formed in May 2013 by Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) and spun off as an independent public company in January 2014. For more information, please visit www.contravir.com. Forward Looking Statements Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated" and "intend," among others. These forward-looking statements are based on ContraVir's current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our ability to continue as a going concern; our need for additional financing; uncertainties of patent protection and litigation; uncertainties with respect to lengthy and expensive clinical trials, that results of earlier studies and trials may not be predictive of future trial results; uncertainties of government or third party payer reimbursement; limited sales and marketing efforts and dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. As with any drug candidates under development, there are significant risks in the development, regulatory approval, and commercialization of new products. There are no guarantees that future clinical trials discussed in this press release will be completed or successful, or that any product will receive regulatory approval for any indication or prove to be commercially successful. ContraVir does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in ContraVir's Form 10-K for the year ended December 31, 2013 and other periodic reports filed with the Securities and Exchange Commission.
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