Antares Pharma (ATRS) Names New SVP, CFO

October 31, 2016 9:17 AM EDT
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Antares Pharma, Inc. (Nasdaq: ATRS) announced the appointment of Fred M. Powell to the position of Senior Vice President, Chief Financial Officer effective October 31, 2016. Mr. Powell has a diversified corporate background including more than 20 years of financial experience within the biotech and pharmaceutical industry.

Most recently, Mr. Powell served as Vice President and Chief Financial Officer for Celator Pharmaceuticals, which was a publicly-held biopharmaceutical company engaged in the development of a portfolio of cancer therapies. At Celator, he was responsible for the Company’s accounting, corporate finance and financial planning functions and played an integral role in the sale of Celator to Jazz Pharmaceuticals for over $1.5 billion. Prior to joining Celator, Mr. Powell was the chief financial officer of OraPharma, Inc. where he helped develop and grow the specialty healthcare company with annual sales of approximately $100 million until its acquisition by Valeant Pharmaceuticals in June, 2012. Mr. Powell was also chief financial officer of BMP Sunstone Corporation, a publicly traded U.S. specialty pharmaceutical company with annual sales in excess of $150 million, where he helped guide rapid double-digit growth and its eventual sale to Sanofi-Aventis for $520 million. He also held senior finance and administration positions at Eximias Pharmaceutical Corporation, Innaphase Corporation and ERT. Mr. Powell began his career with KPMG Peat Marwick and is a graduate of Penn State University.

Robert F. Apple, President and Chief Executive Officer of the Company, stated, “We are very pleased to have Fred join the executive leadership team at Antares Pharma, bringing with him over 25 years of extensive financial experience, including more than two decades of experience in the healthcare industry. I believe Fred’s arrival will have a positive impact on our future growth, given his track record of successful business transactions in the areas of license agreements, joint ventures and acquisitions.”

“I’m very excited to be joining Antares Pharma, and I look forward to making an immediate contribution to the organization.” Mr. Powell continued, “I believe that my background in finance and corporate development will complement the exciting business growth at Antares. With novel technology that has produced three approved drug device combination products and three first-to-file partnered products under active review for marketing approval at the Food and Drug Administration, I believe Antares Pharma is well-positioned for continued growth.”

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