Elcelyx Therapeutics Elects Sandy Mahatme to Board of Directors
SAN DIEGO, October 12, 2016 — Elcelyx Therapeutics announced today that Sandesh “Sandy” Mahatme has been appointed to its Board of Directors as an independent director.
“We welcome Sandy’s expertise as Elcelyx nears a critical data read-out this quarter for our drug candidate Metformin Delayed Release for patients with type 2 diabetes and we establish the path forward for Phase 3 development and potential commercialization,” said Alain Baron, M.D., president and chief executive officer of Elcelyx.
Mahatme is currently senior vice president, chief financial officer at Sarepta Therapeutics. Prior to joining Sarepta in 2012, Mahatme worked at Celgene Corporation, a biopharmaceutical company, where he served in various roles, including senior vice president of corporate development, senior vice president of finance, corporate treasurer and head of tax. While at Celgene, Mahatme built the treasury and tax functions before establishing the corporate development department, focused on strategic, targeted initiatives including commercial development in emerging markets, acquisitions, licensing and global manufacturing expansion. Prior to working at Celgene, he worked for Pfizer for eight and a half years in senior roles in business development and corporate tax.
Mahatme started his career at Ernst & Young where he advised multinational corporations on a broad range of transactions. He holds Master of Laws (LL.M.) degrees from Cornell Law School and NYU School of Law and is a member of the New York State Bar Association. Mahatme is also a board member of Flexion Therapeutics and Aeglea Biotherapeutics.
Mahatme joins fellow pharmaceutical industry executives and investors on the board of directors at Elcelyx, including: Richard Barry, Ralph “Chris” Christoffersen, Ph.D. (chairman), Jim Glasheen, Ph.D., Ginger Graham, Bosun Hau and Liang Tsui.
About Elcelyx Therapeutics
Elcelyx Therapeutics is developing pharmaceutical agents designed to modulate the gut neuroendocrine system including the L-cell, which when activated is responsible for release of glucoregulatory hormones. Metformin Delayed Release (Metformin DR), the first product of this type, is designed to deliver metformin to the gut instead of systemically, thereby reducing bioavailability while still achieving efficacy. Metformin DR development arose from Elcelyx’s discovery that the site of action for metformin, the most commonly prescribed diabetes drug, is in the gut. Given its targeted delivery and low systemic bioavailability, Metformin DR may provide a treatment option for type 2 diabetes patients who are currently contraindicated due to renal impairment or who cannot tolerate existing metformin formulations. For more information, visit www.elcelyx.com.
Karen Basbaum, Elcelyx Therapeutics
Vice President, Business Development
(858) 876-1814 ext. 109
Pam Lord, Canale Communications