Karuna Therapeutics Appoints William P. Kane as Chief Commercial Officer

Rhea-AI Summary

Karuna Therapeutics, Inc. (NASDAQ: KRTX) has appointed Will Kane as chief commercial officer (CCO), effective February 6, 2023. This strategic move aims to facilitate the transition of Karuna into a fully integrated research and development and commercial organization, with a significant focus on the potential approval and launch of KarXT for treating schizophrenia. Kane brings over 30 years of experience in the pharmaceutical industry, having held senior roles in leading companies like Allergan and Pfizer, and successfully launched brands like VRAYLAR and UBRELVY. This leadership change could enhance the company's strategic direction in commercializing its products.

Positive

• Appointment of Will Kane as CCO expected to strengthen leadership.
• Kane's extensive experience in commercial operations can aid in product launch.
• Focus on potential approval of KarXT may lead to significant market opportunities.

Negative

• Transition may involve continuity challenges as new leadership is integrated.

BOSTON--(BUSINESS WIRE)-- Karuna Therapeutics, Inc. (NASDAQ: KRTX), a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced the appointment of Will Kane as chief commercial officer (CCO), effective February 6, 2023.

“The addition of Will to our executive team represents an important step as we execute on our plan to transition Karuna to a fully integrated R&D and commercial organization,” said Bill Meury, president and chief executive officer, Karuna Therapeutics. “Will is an exceptional leader and has extensive commercial operations experience, which will be invaluable as we focus our attention on the potential approval and launch of KarXT in schizophrenia.”

“I could not be joining Karuna at a more exciting time for the company and important time for people living with schizophrenia and their friends and families,” said Will Kane. “I have been impressed with the work of the team to date, and I look forward to leading a commercial organization that may have an opportunity to truly change the treatment paradigm for one of the most debilitating serious mental health conditions.”

Mr. Kane brings more than three decades of experience in the pharmaceutical industry. He’s held senior level commercial positions at leading biopharma companies, Allergan, Pfizer, and Sepracor (now Sunovion Pharmaceuticals), and was an integral part of launching several successful brands, including CELEBREX® for the treatment of arthritis, NAMZARIC®‎ for Alzheimer’s disease, VRAYLAR® for the treatment of schizophrenia and bipolar disorder, and UBRELVY™, the first oral calcitonin gene-related peptide (CGRP) for the acute treatment of migraine. Most recently, he was the executive vice president and chief commercial officer at BioXcel Therapeutics.

Mr. Kane holds a B.A. in Government from Connecticut College and an M.B.A. from the Wharton School at the University of Pennsylvania.

About Karuna

Karuna Therapeutics is a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions. At Karuna, we understand there is a need for differentiated and more effective treatments that can help patients navigate the challenges presented by these severe and disabling disorders. Utilizing our extensive knowledge of neuroscience, we are harnessing the untapped potential of the brain in pursuit of novel pathways to develop medicines that make meaningful differences in peoples’ lives. For more information, please visit www.karunatx.com.

Forward Looking Statements

This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our goals to develop and commercialize our product candidates and other statements identified by words such as “could,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” “will,” “would,” or similar expressions and the negatives of those terms. Forward looking statements are not promises or guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in such forward-looking statements. These factors include risks related to our ability to generate positive clinical trial results for our product candidates and other risks inherent in clinical development, the timing and scope of regulatory approvals, changes in laws and regulations to which we are subject, competitive pressures, and other risks set forth under the heading “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2021. Our actual results could differ materially from the results described in or implied by such forward looking statements. Forward-looking statements speak only as of the date hereof, and, except as required by law, we undertake no obligation to update or revise these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230131005281/en/

Investor Contact:

Alexis Smith

asmith@karunatx.com

518-338-8990



Media Contact:

Bob Josefsberg

bjosefsberg@karunatx.com

646-734-3584

Source: Karuna Therapeutics, Inc.

FAQ

Who is the new chief commercial officer of Karuna Therapeutics?

Will Kane has been appointed as the chief commercial officer of Karuna Therapeutics, effective February 6, 2023.

What experience does Will Kane bring to Karuna Therapeutics?

Will Kane brings over 30 years of experience in the pharmaceutical industry, having held senior roles at Allergan, Pfizer, and BioXcel Therapeutics.

What is the focus of Karuna Therapeutics under Will Kane's leadership?

Under Will Kane's leadership, Karuna Therapeutics will focus on the potential approval and launch of KarXT for treating schizophrenia.

When is Will Kane starting at Karuna Therapeutics?

Will Kane will begin his role as chief commercial officer on February 6, 2023.