Cytokinetics Names Muna Bhanji to Board of Directors

Rhea-AI Summary

Cytokinetics announces the appointment of Muna Bhanji to its Board of Directors, enhancing its expertise in commercial development and market access. With over 30 years in the biopharmaceutical industry, Bhanji has held significant roles at Merck, including Senior VP, Global Market Access. Her experience is expected to guide Cytokinetics in ensuring access and affordability for its muscle-targeting therapies, particularly omecamtiv mecarbil, CK-274, and reldesemtiv. The company is progressing towards regulatory interactions following successful clinical trials.

Positive

• Muna Bhanji's extensive experience in commercial leadership may strengthen Cytokinetics' market strategies.
• Her prior role at Merck focused on payer reimbursement, which could enhance access to Cytokinetics' therapies.

Negative

• Concerns may arise regarding continuity and experience gaps on the board due to recent changes.

Appointment Adds to Board Expertise in Commercial Development and Market Access as Company Prepares for Further Corporate Development

SOUTH SAN FRANCISCO, Calif., Feb. 18, 2021 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that Muna Bhanji has been appointed to the company’s Board of Directors. Ms. Bhanji brings more than 30 years of strategic and operational experience in the biopharmaceutical industry with a proven track record of commercial leadership, growth and value creation. Ms. Bhanji built her career at Merck with leadership experiences spanning US-based sales, marketing and commercial operations, as well as global franchise business units and global market access and policy, across a diverse portfolio of medicines and vaccines.

“We are pleased to welcome Muna to our Board,” said Robert I. Blum, Cytokinetics’ President and Chief Executive Officer. “As a veteran commercial leader with demonstrated expertise in institutional and specialty market sectors as well as innovative commercial models shaped by a focus on value demonstration and patient access, her guidance relative to our continued corporate and commercial development should prove especially valuable. In particular, we look forward to her insights to inform how our company may best ensure optimal access and affordability to our potential medicines developed for patients with devastating diseases of impaired muscle function.”  

Most recently, Ms. Bhanji served as Merck’s Senior Vice President, Global Market Access and Policy, leading the organization to enable access and payer reimbursement for the company’s medicines and vaccines. During her tenure at the company, Ms. Bhanji has held senior leadership roles of increasing responsibility overseeing US and global business units, including sales, marketing, managed care and commercial operations as well as serving as the Head of Merck’s Oncology and Hospital and Specialty businesses. Ms. Bhanji is recognized for building and overseeing industry leading corporate capabilities and developing partnerships with key stakeholders to ensure equitable access to novel medicines and vaccines.

In addition to her extensive commercial leadership roles, she has served on the Board of the Foundation of Managed Care Pharmacy and has chaired Merck’s Supervisory Board in the Netherlands. Muna currently serves on the Board of Corus International, an ensemble of faith-based organizations working in concert to deliver the holistic, lasting solutions needed to overcome the interrelated challenges related to poverty and health.

About Cytokinetics

Cytokinetics is a late-stage biopharmaceutical company focused on discovering, developing and commercializing first-in-class muscle activators and next-in-class muscle inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. As a leader in muscle biology and the mechanics of muscle performance, the company is developing small molecule drug candidates specifically engineered to impact muscle function and contractility. Cytokinetics is preparing for regulatory interactions for omecamtiv mecarbil, its novel cardiac muscle activator, following positive results from GALACTIC-HF, a large, international Phase 3 clinical trial in patients with heart failure. Cytokinetics is conducting METEORIC-HF, a second Phase 3 clinical trial of omecamtiv mecarbil. Cytokinetics is also developing CK-274, a next-generation cardiac myosin inhibitor, for the potential treatment of hypertrophic cardiomyopathies (HCM). Cytokinetics is conducting REDWOOD-HCM, a Phase 2 clinical trial of CK-274 in patients with obstructive HCM. Cytokinetics is also developing reldesemtiv, a fast skeletal muscle troponin activator for the potential treatment of ALS and other neuromuscular indications following conduct of FORTITUDE-ALS and other Phase 2 clinical trials. The company is preparing for the potential advancement of reldesemtiv to a Phase 3 clinical trial. Cytokinetics continues its over 20-year history of pioneering innovation in muscle biology and related pharmacology focused to diseases of muscle dysfunction and conditions of muscle weakness.

For additional information about Cytokinetics, visit www.cytokinetics.com and follow us on Twitter, LinkedIn, Facebook and YouTube.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). Cytokinetics disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Act's Safe Harbor for forward-looking statements. Examples of such statements include, but are not limited to, statements relating to Cytokinetics' and its partners' research and development activities of Cytokinetics’ product candidates. Such statements are based on management's current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to the risks related to Cytokinetics' business outlined in Cytokinetics' filings with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and Cytokinetics' actual results of operations, financial condition and liquidity, and the development of the industry in which it operates, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that Cytokinetics makes in this press release speak only as of the date of this press release. Cytokinetics assumes no obligation to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Communications, Investor Relations
(415) 290-7757

FAQ

Who is Muna Bhanji and what is her role at Cytokinetics?

Muna Bhanji has been appointed to the Board of Directors of Cytokinetics, bringing over 30 years of experience in the biopharmaceutical industry.

What experience does Muna Bhanji bring to Cytokinetics?

Bhanji has a strong background in commercial leadership from her time at Merck, where she led global market access.

How will Muna Bhanji's appointment impact Cytokinetics?

Her expertise is expected to improve access and market strategies for Cytokinetics' therapies, enhancing their market position.

What are the key products being developed by Cytokinetics?

Cytokinetics is developing omecamtiv mecarbil, CK-274, and reldesemtiv as potential treatments for muscle-related diseases.

What recent clinical trials has Cytokinetics completed?

Cytokinetics has completed the GALACTIC-HF Phase 3 trial for omecamtiv mecarbil and is conducting the METEORIC-HF trial.