Chiasma, Inc. (CHMA) Names Mark J. Fitzpatrick as CEO

September 30, 2016 4:16 PM EDT
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Chiasma, Inc. (NASDAQ: CHMA), a biopharmaceutical company focused on improving the lives of patients with rare and serious chronic diseases, today announced that Mark J. Fitzpatrick has been appointed President and Chief Executive Officer and a member of the company’s Board of Directors, effective October 1, 2016. Mr. Fitzpatrick currently serves as Chiasma’s Chief Financial Officer. He succeeds Mark Leuchtenberger, who has stepped down as Chief Executive Officer to pursue other opportunities. This action follows Chiasma’s announcement of corporate restructuring actions in June and August 2016, which were made after receiving a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) in April 2016 regarding the New Drug Application (NDA) for its lead product candidate, Mycapssa® (octreotide) capsules.

“We extend our sincere appreciation to Mark Leuchtenberger for his contributions to Chiasma these past 18 months,” said Dave Stack, Chairman of the Board of Chiasma. “Mark was instrumental in recruiting a premier sales organization and commercial infrastructure in anticipation of a potential commercial launch earlier this year. The Board appreciates these efforts and wishes Mark well as he begins his pursuit of new opportunities within the industry.”

Mr. Fitzpatrick joined Chiasma as its Chief Financial Officer in June 2015 and has over 25 years of experience in the biotechnology industry. He has held the senior-most financial leadership position and reported directly to the CEO of both public and private technology companies since 1991.

“I am excited by the opportunity to assume greater responsibilities at Chiasma and lead the company as we continue our mission to bring an oral treatment option to patients with acromegaly,” said Mr. Fitzpatrick.

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