PainReform Welcomes Senior Pharmaceutical Executive and Venture Capitalist Augustine Lawlor to Board of Directors

Rhea-AI Summary

PainReform Ltd. (NASDAQ:PRFX) has appointed Augustine Lawlor to its Board of Directors following its recent IPO. Lawlor, with extensive experience in the pharmaceutical sector, previously served as COO of Leap Therapeutics and held key positions at LeukoSite and Alpha-Beta Technologies. His expertise includes finance, business development, and mergers and acquisitions, making him a valuable addition as PainReform advances its lead product, PRF-110, through Phase 3 trials. This product aims to revolutionize post-operative pain management while potentially reducing reliance on opioids.

Positive

• Appointment of Augustine Lawlor to the Board adds significant experience in healthcare investment and pharmaceutical operations.
• Lawlor's track record includes managing over $1 billion in capital and successful mergers and acquisitions, which could enhance PainReform's strategy.
• The potential success of PRF-110 in Phase 3 trials may position it as a standard-of-care in post-operative pain management.

Negative

• The completion of clinical trials is uncertain and may face numerous risks beyond the company's control, potentially delaying product launch.

HERZLIYA, ISRAEL / ACCESSWIRE / November 5, 2020 / PainReform Ltd. (NASDAQ:PRFX) ("PainReform" or the "Company"), a clinical stage specialty pharmaceutical company focused on the reformulation of established therapeutics, welcomes Augustine Lawlor as a member of the Company's Board of Directors following its recent initial public offering.

Mr. Lawlor has served as Chief Operating Officer of Leap Therapeutics, Inc., an oncology company, since January 2016 and has been a Managing Director of HealthCare Ventures since 2000. From 1997 to 2000, he served as Chief Operating Officer of LeukoSite, Inc., a biotechnology company acquired by Millennium Pharmaceuticals Inc. in 1999. Prior to joining LeukoSite, Mr. Lawlor was Chief Financial Officer and Vice President of Corporate Development for Alpha-Beta Technologies, Inc., a company that specializes in electronics design, development, manufacturing and system obsolescence issues. He has held similar positions at both BioSurface Technologies Corporation, a company that provides products for biofilm investigations, and Armstrong Pharmaceuticals, a division of Amphastar Pharmaceuticals, Inc., a specialty pharmaceutical company. Mr. Lawlor was previously a management consultant with KPMG. He is currently Chairman of the Board of Catalyst Biosciences, Inc. and a director of Cardiovascular Systems, Inc., biopharmaceutical companies which are listed on Nasdaq. Mr. Lawlor received his Master's degree in Public and Private Management from Yale University and a B.A. degree from the University of New Hampshire.

Dr. Ehud Geller, Chairman of the Board, commented, "Gus Lawlor is an important addition to our Board, as he is a seasoned and successful healthcare investor and venture capitalist and brings extensive experience in the pharmaceutical industry, including oversight of finance, business development, and manufacturing functions. He has been involved in numerous mergers and acquisitions, including the billion-dollar sale/merger of Leukosite, Inc. with Millenium Pharmaceuticals. He also oversaw the sales of Armstrong Pharmaceuticals to Medevac, and Biosurface Technology to Genzyme. As a venture capitalist, he managed an investment portfolio of over one billion dollars in committed capital. We believe that his healthcare, financial and capital markets experience will be of tremendous benefit to us as we advance PRF-110 through pivotal Phase 3 trials and seek to maximize the value of the asset. Importantly, assuming our planned Phase 3 trial is successful, we believe PRF-110 has the potential to become the standard-of-care within the multi-billion post-operative pain treatment market and represents a highly attractive alternative to systemic opioids."

About PainReform

PainReform is a clinical stage specialty pharmaceutical company focused on the reformulation of established therapeutics. PRF-110, the Company's lead product, is based on the local anesthetic ropivacaine, targeting the post-operative pain relief market. PRF-110 is an oil-based, viscous, clear solution that is deposited directly into the surgical wound bed prior to closure to provide localized and extended post-operative analgesia. The Company's proprietary extended release drug-delivery system is designed to provide an extended period of post-surgical pain relief without the need for repeated dose administration while reducing the potential need for the use of opiates.

Notice Regarding Forward-Looking Statements

This press release contains certain forward-looking statements, including statements with regard to PainReform's proposed clinical trials. Words such as "expects," "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the clinical trials discussed above will be successfully completed. Completion of the proposed clinical trials are subject to numerous factors, many of which are beyond the control of the Company, including, without limitation, failure of the clinical trials, and the risk factors and other matters set forth in the Company's recent prospectus included in the registration statement, in the form last filed with the SEC. PainReform undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contact:

Crescendo Communications, LLC
Tel: 212-671-1021
Email: prfx@crescendo-ir.com

SOURCE: PainReform Ltd.

View source version on accesswire.com:
https://www.accesswire.com/614693/PainReform-Welcomes-Senior-Pharmaceutical-Executive-and-Venture-Capitalist-Augustine-Lawlor-to-Board-of-Directors

FAQ

Who is Augustine Lawlor and what is his role at PainReform?

Augustine Lawlor has been appointed to the Board of Directors of PainReform, bringing extensive experience in healthcare investment and pharmaceutical operations.

What is PRF-110 and why is it significant for PainReform?

PRF-110 is PainReform's lead product aimed at providing post-operative pain relief. It is designed to reduce reliance on opioids and is currently advancing through Phase 3 trials.

What potential impacts might Augustine Lawlor's appointment have on PainReform?

Lawlor's extensive background in finance and pharmaceuticals could enhance PainReform's strategic decisions and increase the likelihood of successful clinical outcomes.

What risks are associated with PainReform's clinical trials?

The clinical trials for PRF-110 are subject to uncertainties, including potential failure and other risk factors that could impede successful completion.