- Accomplished life sciences executives join inaugural board of the newly formed company
Lawrenceville, N.J. – October 21, 2020 – Ellodi Pharmaceuticals, a gastroenterology-focused specialty pharmaceutical company formed by TPG Capital, today announced that David Kessler, M.D., and John Fraher have joined the company’s newly established Board of Directors. Dr. Kessler and Fraher will serve on the company’s inaugural board alongside CEO Troy Hamilton and three members of the TPG Capital team: John Schilling, M.D., Todd Sisitsky, and Katherine Wood.
The formation of the board follows the recent creation of Ellodi Pharmaceuticals, which was established in September 2020 through a transaction that spun-out select clinical assets from Adare Pharmaceuticals. Launched in partnership with former members of Adare’s clinical leadership team, Ellodi Pharmaceuticals is dedicated to the continued development of APT-1011, a novel therapy in Phase 3 development for the treatment of Eosinophilic Esophagitis (EoE). The launch of Ellodi Pharmaceuticals extends TPG Capital’s decade-long partnership with Adare, which has since rebranded under new ownership as Adare Pharma Solutions.
“We are thrilled to have Dr. David Kessler and Adare CEO John Fraher join the Ellodi Pharmaceuticals board as we continue to advance APT-1011. Both John and Dr. Kessler were instrumental in the early development of the program at Aptalis and throughout our ownership of Adare,” said John R. Schilling, Partner at TPG Capital and Chairman of Ellodi Pharmaceuticals. “Given the compelling clinical and histologic data thus far, we believe that APT-1011 has the potential to materially improve the lives of many patients with EoE.”
“For more than a decade, we’ve had the opportunity to partner with both Dr. Kessler and John Fraher to build Aptalis, Adare, and now Ellodi Pharmaceuticals. Their vision, engagement, and leadership have shaped each of the companies and have profoundly impacted the development of APT-1011,” said Todd B. Sisitsky, Co-Managing Partner of TPG Capital. “As we launch and build Ellodi Pharmaceuticals with Troy and the management team, we see an opportunity for the company to emerge as a leader in EoE and in the gastroenterology market broadly.”
The six members of Ellodi Pharmaceuticals’ board have spent their careers in the healthcare sector and bring significant clinical, operational, and managerial expertise to the company. The board will provide guidance on the ongoing strategic direction of Ellodi Pharmaceuticals as it works towards the completion and commercialization of the APT-1011 development program.
Newly Appointed Board Members
David Kessler, M.D., is a Professor of Pediatrics and Epidemiology and Biostatistics at the University of California, San Francisco (UCSF). Dr. Kessler served as Commissioner of the United States Food and Drug Administration (FDA) from 1990 to 1997, where he was appointed by President Bush and later reappointed by President Clinton. He has also served as the Dean of the medical schools at Yale and at UCSF. Prior to his role at the FDA, Dr. Kessler was the medical director of the Hospital of the Albert Einstein College of Medicine in New York and also taught food and drug law at the Columbia University School of Law. Dr. Kessler received his J.D. from The University of Chicago Law School, where he was a member of the Law Review, and his M.D. from Harvard Medical School. He graduated magna cum laude, Phi Beta Kappa from Amherst College. Dr. Kessler also serves as the Board Chair and Director of the Center for Science in the Public Interest.
John Fraher is the CEO of Adare Pharma Solutions. He has more than 30 years of experience in the pharmaceutical and life science industries. Previously, he was President of Aptalis Pharmaceutical Technologies. Prior to Aptalis, he held a number of executive positions at Eurand, including CEO, President, and Chief Commercial Officer. Mr. Fraher also held positions with a number of multinational pharmaceutical companies in Ireland. He holds a degree in biochemistry from University College Dublin, Ireland.
Founding Board Members
Troy Hamilton (CEO) has more than 25 years of experience in the biopharmaceutical and healthcare industries. Previously, he was the Global Head of Specialty Pharma at Adare Pharmaceuticals. He has held several executive and global commercial leadership roles at Synergy Pharmaceuticals, Shire Pharmaceuticals, and Johnson & Johnson’s Janssen Pharmaceuticals and McNeil Specialty Products. He has significant gastroenterology-related experience in functional gastrointestinal disorders, inflammatory bowel disease, eosinophilic esophagitis, short bowel syndrome, rare pediatric cholestasis, and acid-peptic disorders. Mr. Hamilton serves as a board member at metaMe Health, Inc. and Lazarus Pharmaceuticals, and as a board advisor at New Perspectives, Inc. He received his B.S. and doctorate degrees in pharmacy from the University of the Sciences in Philadelphia and his M.B.A. from St. Joseph’s University.
John Schilling, M.D., (Chairman) leads the Operations team for TPG Capital, where he also co-leads the platform’s healthcare team. He has played leadership roles on TPG’s investments in Adare Pharmaceuticals, Aptalis, BVI, EnvisionRx, Immucor, and Par Pharmaceutical. Prior to joining TPG in 2011, Dr. Schilling managed sales and marketing for the U.S. pharmaceutical business at Abbott and was a Partner at McKinsey & Company. He received his undergraduate degree in biomedical engineering from Duke, a Master’s in Biomedical Engineering from Johns Hopkins where he was a Bozzelli Scholar, and an M.D. from the University of Chicago where he received the Joseph A. Capps Award for the most outstanding student in clinical medicine. Thereafter, he conducted his residency training in surgery at Johns Hopkins.
Todd Sisitsky is the Co-Managing Partner of TPG Capital, where he co-leads the firm’s investment activities in the healthcare services and pharmaceutical/medical device sectors. He serves on the executive committee of TPG and has played leadership roles on TPG’s investments in Allogene, Aptalis, Biomet, Exactech, Fenwal, Healthscope, IASIS Healthcare, Immucor, IQVIA (and predecessor companies IMS Health and Quintiles), Par Pharmaceutical, and Surgical Care Affiliates. Mr. Sisitsky is also the Chair of the Dartmouth Medical School Board of Advisors and a board member of Grassroot Soccer. Prior to joining TPG in 2003, he worked at Forstmann Little & Company and Oak Hill Capital Partners. Mr. Sisitsky received an M.B.A. from the Stanford Graduate School of Business and earned his undergraduate degree from Dartmouth College.
Katherine Wood is a Principal at TPG Capital based San Francisco, where she focuses on investments in the healthcare sector. She currently serves on the Boards of LifeStance Health, Convey Health Solutions, Kadiant, AskBio, and Neogene Therapeutics, and was previously on the Board of Adare Pharmaceuticals. Ms. Wood was involved in TPG’s investments in Allogene Therapeutics, Aptalis, EnvisionRx, IASIS, and Par Pharmaceutical. Prior to joining TPG in 2009, she worked in healthcare investment banking at Goldman, Sachs & Co. Ms. Wood received a B.S. with Honors in molecular and cell biology from Stanford University, where she was on the varsity field hockey team, and an M.B.A. with Distinction from Harvard Business School.
About Ellodi Pharmaceuticals
Ellodi Pharmaceuticals is a gastroenterology-focused specialty pharmaceutical company. The company was formed by TPG Capital in September 2020 through a transaction that spun-out select clinical assets from Adare Pharmaceuticals. Ellodi Pharmaceuticals is focused on the clinical development of APT-1011, a novel therapy in Phase 3 development for the treatment of Eosinophilic Esophagitis (EoE). EoE is a rare, chronic allergic inflammatory disease characterized by eosinophilic infiltration of the esophagus. Despite growing awareness of the condition and its massively underserved patient population, no FDA approved treatment exists today. Ellodi Pharmaceuticals’ clinical data to date provides diagnostic, histologic, a patient-reported evidence of safety and efficacy in the treatment of EoE. The company has assembled a seasoned team with deep expertise in developing and commercializing innovative therapies, particularly in the gastroenterology and rare disease therapeutic areas. Further information about Ellodi Pharmaceuticals can be found at www.ellodipharma.com.
APT-1011 is a novel, proprietary, oral disintegrating tablet delivering fluticasone propionate to the esophageal mucosa while minimizing residence time in the oral cavity. In earlier clinical trials, APT-1011 was shown to be effective in reducing esophageal eosinophil counts and endoscopic findings in adults with a diagnosis of EoE. APT-1011 is currently in Phase 3 development (FLUTE II), following successful completion of its Phase 2 study (FLUTE I) in 2019. It has been granted orphan drug status by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).