Praxis Precision Medicines Adds Global Business Expertise to Board of Directors with Appointment of Jill DeSimone

Rhea-AI Summary

Praxis Precision Medicines (NASDAQ: PRAX) has appointed Jill DeSimone to its board of directors, enhancing its leadership with her extensive experience in oncology and pharmaceuticals. DeSimone previously served as President of U.S. Oncology at Merck & Co. and has a notable background at other leading firms like Teva and Bristol Myers Squibb. Her expertise in product launches and patient care aligns with Praxis's mission to develop therapies for CNS disorders. The company is optimistic about leveraging her insights during a pivotal time for its growth and product development.

Positive

• Appointment of Jill DeSimone brings extensive experience in product strategy and patient care.
• DeSimone's leadership in oncology may enhance Praxis's focus on high unmet medical needs.
• Potential for improved strategies in product launches for CNS therapies.

Negative

• None.

BOSTON, May 23, 2022 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today announced the appointment of Jill DeSimone to its board of directors.

“We are very excited to have Jill join the Praxis board of directors. She is an ideal fit for the Praxis board with her impressive background as a global business leader for multi-billion-dollar products, unique insights into product strategy and portfolio prioritization, and breadth of experience advocating for excellence in patient care,” said Marcio Souza, president and chief executive officer of Praxis.

Ms. DeSimone served as president of U.S. Oncology at Merck & Co., Inc. from 2014 to May 2022. During her time at Merck, Ms. DeSimone also temporarily served as interim president of U.S. Pharma to help navigate the business through the COVID-19 pandemic. Prior to joining Merck, she served as senior vice president of Global Women’s Health at Teva Pharmaceutical Industries Ltd from 2012 to 2014. Prior to her time at Teva, Ms. DeSimone served in several roles of increasing responsibility at Bristol Myers Squibb from 1980 to 2012, including senior vice president of U.S. Commercial from 2010 to 2012 and senior vice president of U.S. Virology/HIV from 2006 to 2010. Ms. DeSimone serves as a board member for the Florida Cancer Specialists Foundation, a nonprofit organization that helps individuals with their essential living expenses while they undergo treatment for cancer. Ms. DeSimone received a B.S. in pharmacy from Northeastern University and completed a fellowship with the Wharton School of the University of Pennsylvania.

“I am honored to join the board at Praxis, as they continue their efforts to help people living with CNS conditions,” said Ms. DeSimone. “Throughout my career, I have focused largely on areas of high unmet need, including most recently building and overseeing Merck’s U.S. oncology business. The opportunity with Praxis allows me to continue to follow my passion and share my expertise in product launches for both rare and more common diseases.”

“Jill’s background as a multi-faceted business leader and passion for bringing innovative treatments to people in need will be a tremendous addition to the Praxis board,” said Dean Mitchell, chairman of the Praxis board of directors. “We look forward to working closely with her and applying her unique know-how during a particularly exciting period for Praxis and moving forward.”

About Praxis
Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying insights from genetic epilepsies to both rare and more prevalent neurological and psychiatric disorders, using our understanding of shared biological targets and circuits in the brain. Praxis has established a broad portfolio with multiple programs, including product candidates across psychiatric disorders, movement disorders and epilepsy, with three clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on LinkedIn and Twitter.

FAQ

What is the significance of Jill DeSimone's appointment to Praxis's board on May 23, 2022?

Jill DeSimone's appointment is significant as she brings over two decades of experience in the biopharmaceutical industry, particularly in oncology, which may strengthen Praxis's strategic direction and product portfolio.

How might Jill DeSimone's background impact Praxis Precision Medicines?

Her extensive leadership experience in major pharmaceutical firms is expected to enhance Praxis's approach to developing therapies for CNS conditions, potentially improving product strategy and market engagement.

What was Jill DeSimone's role before joining Praxis Precision Medicines?

Before joining Praxis, Jill DeSimone served as President of U.S. Oncology at Merck & Co., where she managed significant product portfolios and navigated the business through critical challenges.

What expertise does Jill DeSimone bring to Praxis?

Jill DeSimone brings expertise in product strategy, portfolio prioritization, and advocacy for patient care, crucial for Praxis's mission of addressing CNS disorders.

What is the current focus of Praxis Precision Medicines?

Praxis focuses on developing therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance, with three clinical-stage product candidates in their portfolio.