BOSTON, Oct. 23, 2019 (GLOBE NEWSWIRE) -- Mayfield Pharmaceuticals, the women’s health-focused subsidiary of Harrow Health, Inc. (NASDAQ: HROW), today announced David Adair, M.D. will join the Mayfield Pharmaceuticals Board of Directors. Dr. Adair is a Co-Founder and Managing Director of Solas BioVentures, a venture capital fund that invests exclusively in the Life Sciences industry. Dr. Adair has extensive experience serving as a director on the boards of several pharmaceutical and medical device companies, including companies specializing in women’s health, in addition to 21 years as an OB/GYN Department Professor and Vice Chairman at the University of Tennessee College of Medicine in Chattanooga. Solas BioVentures intends to participate in the Mayfield Pharmaceuticals Series A financing.
Dr. Adair commented, “Mayfield is developing drug candidates that physicians and patients need. I am particularly impressed with the pre-clinical data I have seen for the Mayfield drug candidates, which was completed in models that have historically strongly translated to human models. In addition to her leadership and dedication, Melissa has a 20+ year history of developing and commercializing clinically meaningful assets in the women’s health space and Mayfield is no different. I’m excited to see her take the reins as the senior executive on this opportunity and for our fund to participate.”
Melissa Bradford-Klug, CEO of Mayfield Pharmaceuticals, commented, “I am gratified to have the support of and a vote of confidence from someone like Dr. Adair, who has such a strong women’s health background, for our strategy, valuation, and the drug candidates we will be pursuing. Having seen first-hand the unmet needs in the women’s health sector through his decades of experience in the medical, clinical, investing, and corporate worlds, I believe David will be a wonderful partner as we shepherd these drug candidates through the FDA approval process.”
Mayfield is focused on making a difference in women’s lives by being a voice for women and, in turn, developing branded pharmaceutical products that address their significant unmet healthcare needs.
Mayfield’s drug candidate pipeline includes:
- MAY-66, which is a potential first-in-class new chemical entity drug candidate intended to prevent recurrent bacterial vaginosis (BV). MAY-66 has produced extraordinarily promising data in what we believe is a translatable pre-clinical model. Approximately 21 million women in the U.S. are estimated to suffer from BV and high reoccurrence rates of BV are an ongoing need. Complications of BV, if left untreated, include increased risk of acquiring and transmitting HIV, increased risk of preterm birth and reduction in fertility during IVF therapy. The addressable market for MAY-66 is estimated at $1 billion annually in the U.S.
- MAY-44, which is being developed for the temporary relief of dyspareunia in breast cancer survivors and pre-menopausal and post-menopausal women. MAY-44 is protected by three issued patents and could become the first FDA-approved topical non-estrogen-based product to address a market of as many as 34 million American women for whom dyspareunia is common. The dyspareunia indication Mayfield will seek approval for is an estimated $2.1 billion annual U.S. market opportunity.
- MAY-88, which is a patent-pending oral suspension that Mayfield will develop for the treatment of moderate to severe interstitial cystitis (IC). Mayfield believes the IC drug market, currently estimated at $400 million annually, is highly underserved and in need of new treatment options for an estimated 8 million U.S. patients who chronically suffer from IC. Mayfield’s MAY-88 is initially pursuing an orphan population within the IC market.
About Mayfield Pharmaceuticals
Mayfield Pharmaceuticals, Inc. is a pharmaceutical company focused on the development of branded solutions that address the unmet needs of women. Mayfield intends to seek regulatory approval for its drug candidates through the U.S. Food and Drug Administration’s 505(b)(1) and 505(b)(2) regulatory pathways. Mayfield’s current drug candidates will pursue indications for recurrent bacterial vaginosis, dyspareunia, and interstitial cystitis, which are collectively estimated to present an addressable market opportunity that exceeds $3 billion annually in the U.S.
About Harrow Health
Harrow Health, Inc. (NASDAQ: HROW) owns a portfolio of healthcare businesses, including ImprimisRx, the nation’s leading ophthalmology outsourcing facility and pharmaceutical compounding business. The company holds large equity positions in Eton Pharmaceuticals, Surface Pharmaceuticals, Melt Pharmaceuticals, Mayfield Pharmaceuticals, Stowe Pharmaceuticals and Radley Pharmaceuticals, all companies founded as subsidiaries of Harrow Health. The Company also owns royalty rights in certain drug candidates being developed by Surface, Melt, Mayfield and Radley. Harrow intends to create, invest in and grow paradigm shifting healthcare businesses that put patients first. For more information about Harrow Health, please visit the Investor Relations section of the corporate website by clicking here.
About Solas BioVentures
Solas BioVentures is a venture fund that maintains a founder-centric approach to enable breakthroughs in medical and technological innovation. Solas invests exclusively in the Life Science industry, focusing on early and development stage biopharmaceuticals, medical devices, diagnostics, and related opportunities designed to positively transform the standard of care and patient outcomes. Solas BioVentures is headquartered in Chattanooga, Tennessee. For more information, please visit their website: https://www.solasbio.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward-looking statements." Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to make commercially available our compounded formulations and technologies in a timely manner or at all; physician interest in prescribing our formulations; risks related to our compounding pharmacy operations; our ability to enter into other strategic alliances, including arrangements with pharmacies, physicians and healthcare organizations for the development and distribution of our formulations; our ability to obtain intellectual property protection for our assets; our ability to accurately estimate our expenses and cash burn, and raise additional funds when necessary; risks related to research and development activities; the projected size of the potential market for our technologies and formulations; unexpected new data, safety and technical issues; regulatory and market developments impacting compounding pharmacies, outsourcing facilities and the pharmaceutical industry; competition; and market conditions. These and additional risks and uncertainties are more fully described in Harrow Health’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Such documents may be read free of charge on the SEC's web site at www.sec.gov. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Except as required by law, Harrow Health undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
Investor Contact:
Jon Patton
jpatton@harrowinc.com
858-704-4587
Source: Mayfield Pharmaceuticals, Inc. and Harrow Health, Inc.