SCYNEXIS Strengthens Leadership Team with Appointment of Jim Maffezzoli as Vice President of Marketing and Sales
Appointment of seasoned women’s health marketing executive is a key step in the transition to a fully-integrated drug development and commercial company with initial focus on vaginal yeast infection
JERSEY CITY, N.J., June 02, 2020 (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 Jim Maffezzoli, an experienced women’s health marketing executive, as Vice President of Marketing and Sales, effective June 1, 2020. Mr. Maffezzoli will lead marketing and commercialization of SCYNEXIS’s lead clinical asset, ibrexafungerp, pending regulatory approval, for the treatment of vulvovaginal candidiasis (VVC), more commonly known as vaginal yeast infection.
“With our NDA submission for the treatment of VVC on track for the second half of this year, we are thrilled that Jim is joining the SCYNEXIS leadership team as we continue to expand our marketing efforts in the women’s health segment,” said Marco Taglietti, M.D., Chief Executive Officer of SCYNEXIS. “Jim's extensive experience in brand building, strategy and commercialization, as well as his deep understanding of the women’s health market, will help position us for a successful ibrexafungerp launch.”
Mr. Maffezzoli added, “Vaginal yeast infections affect three out of four women in their lifetime, yet there is only a single oral treatment option currently available; when this option is ineffective or presents safety concerns, millions of women are left with no other oral choice. Ibrexafungerp, representing a novel therapeutic class, has the potential to be the much-needed treatment option for women suffering from vaginal yeast infections and particularly those that are unsatisfied with current options. I am excited to join the SCYNEXIS team and look forward to leveraging my experience and relationships to successfully bring this exciting new treatment to patients. I am confident in our ability to realize ibrexafungerp’s significant commercial potential.”
Mr. Maffezzoli joins SCYNEXIS with almost 20 years of experience in healthcare marketing and commercialization. Most recently, Mr. Maffezzoli served as Senior Vice President of Marketing at women’s health company Viveve Medical, and prior to Viveve, Mr. Maffezzoli held several commercial leadership roles in Urology and Women’s Health at Allergan plc, Exeltis USA, Inc. (a division of the global pharmaceutical group Insud Pharma) and Pfizer Inc. Mr. Maffezzoli holds an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University, and a B.A. in Political Economy from Princeton University.
In connection with this appointment, on June 1, 2020, Mr. Maffezzoli was granted an option to purchase 175,000 shares of SCYNEXIS common stock, at a per share exercise price of $0.8179, the closing trading price on June 1, 2020. 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 Mr. Maffezzoli continues to provide service to SCYNEXIS. The stock option was granted pursuant to SCYNEXIS' 2015 Inducement Award Plan, as amended in June 2019, 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.
Ibrexafungerp [pronounced eye-BREX-ah-FUN-jerp] is an investigational antifungal agent and the first representative of a novel class of structurally-distinct glucan synthase inhibitors, the 'fungerps'. This agent combines the well-established activity of glucan synthase inhibitors with the potential flexibility of having oral and IV formulations. Ibrexafungerp is currently in development for the treatment of fungal infections caused primarily by Candida (including C. auris) and Aspergillus species. It has demonstrated broad spectrum antifungal activity, in vitro and in vivo, against multidrug-resistant pathogens, including azole- and echinocandin-resistant strains. The FDA has granted Qualified Infectious Disease Product (QIDP) and Fast Track designations for the formulations of ibrexafungerp for the indications of invasive candidiasis (IC) (including candidemia), invasive aspergillosis (IA) and vulvovaginal candidiasis (VVC) and has granted Orphan Drug Designation for the IC and IA indications. Ibrexafungerp is formerly known as SCY-078.
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, in late stage development for multiple indications, ranging from vaginal yeast infections to 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.
Forward Looking Statement
Statements contained in this press release regarding expected future events or results are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited, to: risks inherent in SCYNEXIS's ability to successfully develop and obtain FDA approval for ibrexafungerp; the expected costs of studies and when they might begin or be concluded; and SCYNEXIS's reliance on third parties to conduct SCYNEXIS's clinical studies. These and other risks are described more fully in SCYNEXIS's filings with the Securities and Exchange Commission, including without limitation, its most recent Annual Report on Form 10-K under the caption "Risk Factors" and other documents subsequently filed with or furnished to the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. SCYNEXIS undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
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Released June 2, 2020