Iterum Therapeutics Appoints Sailaja Puttagunta, MD as Chief Medical Officer

Rhea-AI Summary

Iterum Therapeutics (Nasdaq: ITRM) announced the appointment of Dr. Sailaja Puttagunta as Chief Medical Officer, effective immediately. Dr. Puttagunta, who has over 20 years of experience in infectious diseases, will oversee global clinical development and regulatory initiatives as the company advances its antibiotic candidate, sulopenem, which is currently in Phase 3 trials. The leadership change is expected to enhance Iterum's strategies for clinical development, particularly against multi-drug resistant infections.

Positive

• Dr. Sailaja Puttagunta's return as CMO brings strong industry experience in antibiotic development.
• Her previous work on sulopenem at Iterum and Pfizer will strengthen clinical and regulatory strategies.
• The appointment aligns with the advancement of sulopenem, which targets multi-drug resistant infections.

Negative

• Concerns about continuity with past leadership could affect strategic direction.

DUBLIN, Ireland and CHICAGO, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Iterum Therapeutics plc (Nasdaq: ITRM) (the “Company” or “Iterum”), a clinical-stage pharmaceutical company focused on developing next generation oral and IV antibiotics to treat infections caused by multi-drug resistant pathogens in both community and hospital settings, today announced the appointment of Sailaja Puttagunta, M.D., to the newly created position of Chief Medical Officer, where she will oversee global clinical development and regulatory initiatives for Iterum.

“We are thrilled that Sailaja is back at Iterum given her strong industry and operational leadership at a time when oral sulopenem is re-entering the clinic,” said Corey Fishman, Chief Executive Officer of Iterum. “Sailaja has deep experience in antibiotic drug development, including having previously worked on sulopenem at both Iterum and Pfizer Inc., which will prove invaluable for our clinical development and registration strategies. She has dedicated her career as a clinician and practicing Infectious Disease physician to making a difference in patients’ lives and is strongly aligned with our belief that sulopenem is a much-needed therapy.”

“I’m excited to rejoin Iterum at this time of important advancement for the Company,” said Dr. Puttagunta. “I truly believe that sulopenem has the potential to effectively treat the growing problem of multi-drug resistant infections in both hospital and community settings. I look forward to helping Iterum continue to accelerate the development of sulopenem.”

Dr. Puttagunta, brings more than 20 years of clinical, academic and research experience in medicine and the sub-specialty of Infectious Diseases, including the approval of several antibiotic medicines and previously served as Vice President of Clinical Development at Iterum from 2016 to 2018. Most recently Dr. Puttagunta served as Chief Medical Officer at BiomX Inc., a public biotechnology company. Dr. Puttagunta graduated from Gandhi Medical College in Hyderabad, India and completed her residency in Internal Medicine and a fellowship in Infectious Diseases at Yale University School of Medicine. She also holds an M.S. in Biochemistry from the New York University School of Medicine.

About Iterum Therapeutics plc

Iterum Therapeutics plc is a clinical-stage pharmaceutical company dedicated to developing differentiated anti-infectives aimed at combatting the global crisis of multi-drug resistant pathogens to significantly improve the lives of people affected by serious and life-threatening diseases around the world. Iterum is advancing its first compound, sulopenem, a novel penem anti-infective compound, in Phase 3 clinical development with an oral formulation and IV formulation. Sulopenem has demonstrated potent in vitro activity against a wide variety of gram-negative, gram-positive and anaerobic bacteria resistant to other antibiotics. Iterum has received Qualified Infectious Disease Product (QIDP) and Fast Track designations for its oral and IV formulations of sulopenem in seven indications.

Forward-Looking Statements

This press release contains forward-looking statements. In some cases, forward-looking statements can be identified by words such as “may,” “believes,” “intends,” “seeks,” “anticipates,” “plans,” “estimates,” “expects,” “should,” “assumes,” “continues,” “could,” “would,” “will,” “future,” “potential” or the negative of these or similar terms and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements include all matters that are not historical facts. Actual future results may be materially different from what is expected due to factors largely outside the Company’s control, including uncertainties inherent in the initiation and conduct of clinical and nonclinical development, including any additional trials that may be conducted in response to the complete response letter received by the Company in July 2021, availability and timing of data from such clinical and nonclinical development, changes in regulatory requirements or decisions of regulatory authorities, the timing or likelihood of regulatory filings and approvals, including any potential resubmission of the new drug application for oral sulopenem, changes in public policy or legislation, commercialization plans and timelines, if oral sulopenem is approved, the actions of third-party clinical research organizations, suppliers and manufacturers, the accuracy of the Company’s expectations regarding how far into the future the Company’s cash on hand will fund the Company’s ongoing operations, the impact of COVID-19 and related responsive measures thereto, risks and uncertainties concerning the outcome, impact, effects and results of the Company’s evaluation of corporate, strategic, financial and financing alternatives, including the terms, timing, structure, value, benefits and costs of any corporate, strategic, financial or financing alternative and the Company’s ability to complete one at all and other factors discussed under the caption “Risk Factors” in its Quarterly Report on Form 10- Q filed with the Securities and Exchange Commission (the “SEC”) on November 12, 2021, and other documents filed with the SEC from time to time. Forward-looking statements represent the Company’s beliefs and assumptions only as of the date of this press release. Except as required by law, the Company assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Investor Contact:
Judy Matthews 
Chief Financial Officer
312-778-6073
IR@iterumtx.com

FAQ

What is the significance of Dr. Sailaja Puttagunta's appointment as Chief Medical Officer of Iterum?

Dr. Puttagunta's appointment is significant as she brings extensive experience in antibiotic development, particularly with sulopenem, which could enhance Iterum's clinical strategies.

How does Dr. Puttagunta's experience impact Iterum's development of sulopenem?

Her background in antibiotic drug development is expected to improve Iterum's approach to advancing sulopenem through regulatory processes.

What goals does Iterum have with the appointment of a new Chief Medical Officer?

The main goal is to accelerate the clinical development of sulopenem, focusing on addressing multi-drug resistant infections.

When was Dr. Sailaja Puttagunta appointed as CMO of Iterum?

Dr. Puttagunta was appointed as Chief Medical Officer on December 13, 2021.