Arcutis Announces Appointment of Keith Leonard to Board of Directors

Rhea-AI Summary

On September 2, 2021, Arcutis Biotherapeutics (Nasdaq: ARQT) appointed Keith R. Leonard Jr. to its Board of Directors, succeeding Ricky Sun, Ph.D., who stepped down for personal reasons. Leonard brings over 25 years of leadership experience in the biopharmaceutical sector, having previously served as CEO of two public companies and as a board member for several others. The management expresses confidence in Leonard's ability to support the company's goals, particularly as it prepares for the potential commercial launch of topical roflumilast, targeting various dermatological conditions.

Positive

• Keith Leonard's extensive experience in the biopharmaceutical industry could offer valuable insights for Arcutis.
• Leonard's appointment may enhance the company's strategic planning and operational efficiency ahead of its first NDA submission.

Negative

• The departure of Ricky Sun raises concerns regarding continuity and potential experience gaps on the board.

WESTLAKE VILLAGE, Calif., Sept. 02, 2021 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a late-stage biopharmaceutical company focused on developing meaningful innovations to address the urgent needs of patients living with immune-mediated dermatological diseases and conditions, or immuno-dermatology, today announced that Keith R. Leonard Jr. has been appointed to the Arcutis Board of Directors effective September 2, 2021, replacing Ricky Sun, Ph.D., who has decided to step down from the Board for personal reasons.

“We thank Ricky for his leadership over the past three years,” commented Patrick Heron, Chairman of the Arcutis Board of Directors. “He made significant contributions to Arcutis as the company grew from a start-up to a company with a robust pipeline of novel immuno-dermatology drug candidates on the cusp of its first NDA submission. We wish him all the best in his future endeavors.”

“We are delighted to welcome Keith to the Arcutis Board,” said Frank Watanabe, Arcutis’ President and Chief Executive Officer. “Keith adds to the depth of our board with over 25 years of commercial, operational, and international leadership experience. As a sitting chair of a publicly listed biotechnology company, a former CEO of two public biotech companies, and someone who has launched products at both large and emerging biopharmaceutical companies, Keith’s insights will be instrumental as we prepare for our first potential commercial launch of topical roflumilast.”

“I am thrilled to join the Arcutis board at this pivotal time,” said Keith Leonard. “I am impressed with Arcutis’ product candidates and the team’s dedication to providing important and effective solutions for dermatology patients that do not require a tradeoff between safety, efficacy, and tolerability. I look forward to working with the Arcutis management team on its development and commercialization efforts, and to bringing value to patients, physicians, and shareholders.”

Keith Leonard is Chairman of the Board of UNITY Biotechnology, where he served as Chief Executive Officer from 2016 to 2020, and currently serves on the board of robotic surgery pioneer Intuitive Surgical and Spanish biotech SANIFIT S.A.. Previously, Keith served as the Chief Executive Officer of KYTHERA Biopharmaceuticals from its founding in 2005 to its acquisition by Allergan plc in 2015. Before KYTHERA, Keith spent 13 years at Amgen, ultimately as Senior Vice President and General Manager at Amgen Europe, where he ran all commercial operations in 28 countries. Prior to that position, Keith ran Amgen’s manufacturing operations in Europe, established Amgen’s presence in inflammation, served as Head of Information Management, and had leadership roles in sales and marketing, engineering, operations, and finance. Keith has been an Independent Director of Anacor Pharmaceuticals, Affymax, and ARYx Therapeutics, and was a venture partner with ARCH Venture Partners. He holds a Master of Business Administration from The Anderson School of Management, University of California, Los Angeles, a Master of Science in Mechanical Engineering from University of California, Berkeley, a Bachelor of Arts in History from University of Maryland, College Park, and a Bachelor of Science in Engineering from University of California, Los Angeles.

About Arcutis
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a medical dermatology company that champions meaningful innovation to address the urgent needs of patients living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis harnesses our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets. Arcutis’ dermatology development platform includes a robust pipeline with seven clinical programs for a range of inflammatory dermatological conditions, with our first NDA submission anticipated by the end of 2021 and three more Phase 3 clinical data readouts anticipated over the next 18 months. The company’s lead product candidate, topical roflumilast, has the potential to advance the standard of care for plaque psoriasis, atopic dermatitis, scalp psoriasis, and seborrheic dermatitis. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn and Twitter.

Forward-Looking Statements
This press release contains "forward-looking" statements, including, among others, statements regarding the potential for roflumilast to revolutionize the standard of care in plaque psoriasis and other inflammatory dermatological conditions. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements and you should not place undue reliance on our forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in the clinical development process and regulatory approval process, the timing of regulatory filings, and our ability to defend our intellectual property. For a further description of the risks and uncertainties applicable to our business, see the "Risk Factors" section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 16, 2021, as well as any subsequent filings with the SEC. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.

Contacts:

Media

Amanda Sheldon, Head of Corporate Communications

(805) 418-5006

asheldon@arcutis.com

Investors

Eric McIntyre, Head of Investor Relations

(805) 418-5006

emcintyre@arcutis.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e14992f0-879a-4428-9247-9ffd730d2ade

FAQ

Who is the new board member appointed at Arcutis Biotherapeutics?

On September 2, 2021, Arcutis appointed Keith R. Leonard Jr. to its Board of Directors.

What experience does Keith R. Leonard Jr. bring to the Arcutis Board?

Keith Leonard brings over 25 years of leadership experience in the biopharmaceutical sector, including serving as CEO of two public companies.

Why did Ricky Sun step down from the Arcutis Board?

Ricky Sun stepped down from the Arcutis Board for personal reasons.

What is the significance of Keith Leonard's appointment for Arcutis Biotherapeutics?

His appointment is expected to enhance Arcutis' strategic planning and operational efficiency, especially as the company prepares for its first NDA submission.