Full Press Release Details
Milestone Pharmaceuticals Appoints Industry
Veteran Joseph Papa to its Board of Directors
and CHARLOTTE, N.C., September 4, 2024 (GLOBE NEWSWIRE) -- Milestone Pharmaceuticals Inc. (Nasdaq: MIST), a biopharmaceutical
company focused on the development and commercialization of innovative cardiovascular medicines, today announced the appointment of Joseph
Papa to its Board of Directors ("Board"), effective September 3, 2024.
is a renowned pharmaceutical and healthcare leader, with more than 35 years of experience navigating companies through periods of rapid
growth, transformation, and strategic M&A transactions, including as former Chairman and CEO of Bausch + Lomb, Bausch Health and Perrigo
and as a director of SparingVision and Candel Therapeutics. He brings broad commercial experience and proven capabilities of advancing
innovative products aimed at significantly enhancing patients' lives.
accomplished leader with a track record of driving growth, and we are thrilled to welcome him to our Board," said Robert
J. Wills, PhD, Chairman of the Board of Milestone, "His tremendous experience across an extensive range of biopharmaceutical companies
and products provides a skillset that is an excellent complement to the existing board. We look forward to his strategic guidance as we
prepare for potential approval of our investigational drug CARDAMYST (etripamil nasal spray) for paroxysmal supraventricular tachycardia."
commented, "I am very impressed by Milestone's leadership team, culture of innovation, and commitment to improving the lives
of people with life-altering heart conditions. I see a great opportunity for value creation and look forward to collaborating with the
Board and the team to advance CARDAMYST and, if approved, to help bring this much needed treatment to patients."
Joseph Papa has over 35 years of experience in
the pharmaceutical, healthcare and specialty pharmaceutical industries. Since February 2024, he has served as Chief Executive Officer
of Emergent BioSolutions (NYSE: EBS). He served as Chief Executive Officer of Bausch + Lomb Corporation from May 2022 to March 2023
to facilitate a smooth leadership transition. Previously, Mr. Papa served as Chairman and CEO of Bausch Health (NYSE: BHC) from 2016
to 2022, where he oversaw the company's rapid growth and spin-off of Bausch + Lomb (NYSE: BLCO). From 2006 to 2016, Mr. Papa
served as Chairman and CEO of Perrigo (NYSE: PRGO). Prior to Perrigo, Mr. Papa served as President of PTS for Cardinal Health (NYSE:
CAH), President of Watson Pharmaceuticals, President of U.S. operations for Searle/Pharmacia, Chief Operating Officer of DuPont Pharmaceuticals
(NYSE: DD) and Vice President of Marketing for Novartis (NYSE: NVS). He currently serves as Chair of the board of directors of SparingVision,
a privately held genomic medicines company, and as a member of the board of directors of Candel Therapeutics (Nasdaq: CADL), a clinical
stage biopharmaceutical company developing immunotherapies for cancer patients, where he chairs the compensation committee. He previously
served on the boards of directors of Prometheus Biosciences, as lead independent director and chair of the compensation committee until
the company's sale to Merck (NYSE: MRK) in 2023, and Smith & Nephew plc (NYSE: SNN) as chair of the remuneration committee.
Mr. Papa holds a B.S. in pharmacy from the University of Connecticut and an M.B.A. from Northwestern University's Kellogg Graduate
School of Management.
Milestone Pharmaceuticals Inc. (Nasdaq: MIST)
is a biopharmaceutical company developing and commercializing innovative cardiovascular solutions to improve the lives of people living
with complex and life-altering heart conditions. The Company's focus on understanding unmet patient needs and improving the patient
experience has led us to develop new treatment approaches that provide patients with an active role in self-managing their care. Milestone's
lead investigational product is etripamil, a novel calcium channel blocker nasal spray that is being studied for patients to self-administer
without medical supervision to treat symptomatic episodic attacks associated with PSVT and AFib-RVR.
press release contains forward-looking statements and forward looking information within the meaning of the Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities laws ("forward looking statements"). Words such as "believe,"
"continue," "could," "demonstrate," "designed," "develop," "estimate,"
"expect," "may," "pending," "plan," "potential," "progress,"
"will", "intend" and similar expressions (as well as other words or expressions referencing future events, conditions,
or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Milestone's
expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties.
Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release
include statements regarding the timing of upcoming clinical trial milestones and related data; the timing of the FDA's review
of the NDA and the FDA's potential approval of CARDAMYST; the potential of etripamil to help patients living with these serious
heart arrythmias; and the timing of the launch of etripamil. Important factors that could cause actual results to differ materially from
those in the forward-looking statements include, but are not limited to, whether our future interactions with the FDA will have satisfactory
outcomes; whether and when, if at all, our NDA for etripamil will be approved by the FDA; whether the FDA will require additional trials
or data which may significantly delay and put at risk our efforts to obtain approval and may not be successful, the risks inherent in
biopharmaceutical product development and clinical trials, including the lengthy and uncertain regulatory approval process; uncertainties
related to the timing of initiation, enrollment, completion, evaluation and results of our clinical trials; risks and uncertainty related
to the complexity inherent in cleaning, verifying and analyzing trial data; and whether the clinical trials will validate the safety
and efficacy of etripamil for PSVT or other indications, among others, general economic, political, and market conditions, including
deteriorating market conditions due to investor concerns regarding inflation, Russian hostilities in Ukraine and ongoing disputes in
Israel and Gaza and overall fluctuations in the financial markets in the United States and abroad, risks related to pandemics and public
health emergencies, and risks related the sufficiency of Milestone's capital resources and its ability to raise additional capital
in the current economic climate. These and other risks are set forth in Milestone's filings with the U.S. Securities and Exchange
Commission (SEC) and the Canadian securities regulatory authorities, including in its annual report on Form 10-K for the year ended
December 31, 2024, under the caption "Risk Factors," as such discussion may be updated from time to time by subsequent
filings Milestone may make with the SEC and the Canadian securities regulatory authorities, which is available under Milestone's
profile on EDGAR at www.sec.gov and on SEDAR at www.sedarplus.ca. Except as required by applicable law, Milestone
assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information
becomes available or based on future events or otherwise.
President, Communications,