PA-NORDIC

Amring Pharmaceuticals Inc. (Amring), a subsidiary of Nordic Group B.V. (Nordic Pharma), announces Jai G. Parekh, MD, MBA as Chief Commercial Officer, Eye Care U.S.

Nordic Pharma recently expanded its pharmaceutical expertise in the U.S. by acquiring Visant Medical, Inc. (Visant), a leader in medical technology innovation in Dry Eye Disease (DED). This included the FDA-cleared hyaluronic acid derivative LACRIFILL®, a canalicular occlusive device, which is intended to temporarily block tear drainage by the occlusion of the canalicular system.

“With this exciting acquisition and our global plans for LACRIFILL, Dr. Parekh’s 25 years of eye care experience, strategic leadership, and deep understanding of eye care and the industry, make him the perfect choice to guide our commercial entry into the U.S. market,” said Charlotte Phelps, CEO, Nordic Pharma. “As a practicing ophthalmologist, Dr. Parekh’s patient-driven focus will also be invaluable for making a sustainable impact on the health of people with dry eye disease.”

Philip Gioia, President of the U.S. team that will launch LACRIFILL under the Nordic Pharma brand, said, “I look forward to partnering with Jai in his new role. I’ve had the great opportunity to work with him while at other leading global Ophthalmology companies. He brings a world class, innovative, fresh perspective to eye care and his background, experience and reputation in our industry is second to none. In addition, having Andy Corley of Yelroc Consulting as a commercial advisor to Nordic Pharma following the Visant Medical acquisition, clearly sets us up for excellence as we prepare to launch LACRIFLL later this year.”

“I am honored to be a part of Nordic Pharma, a company known for its commitment to innovation and improving patient outcomes,” said Dr. Parekh. “I look forward to contributing to the growth and success of the organization by helping lead impactful commercial strategies. There are many ways to take care of dry eye patients and with this huge market opportunity, we believe LACRIFILL will be a significant part of the armamentaria.”

In addition to Dr. Parekh’s appointment, Nordic Pharma has formed its U.S. Medical Advisory Board which includes Richard Lindstrom, MD (Minnesota), Vance Thompson, MD (South Dakota), Preeya Gupta, MD (North Carolina), Paul Karpecki, OD (Kentucky), Lisa Nijm, MD, JD (Illinois), and Selina McGee, OD (Oklahoma). Dr. Parekh continued, “I’m excited to have many of the top eye care leaders on our Medical Advisory Board. Together, we will help serve the unmet needs of so many ophthalmic patients in a state-of-the-art fashion.”

To start their new roles, Dr. Parekh and Andy Corley are representing Nordic Pharma at the Hawaiian Eye and Retina 2024 meeting this week. During the meeting they will be sharing LACRIFILL’s benefits with physicians and leaders in ophthalmology while also providing select pre-order opportunities.

About Jai G. Parekh, MD, MBA

Dr. Parekh has been a long contributing member of the industry, most notably as former Chief Medical Officer at Allergan Eye Care. He sits on many advisory boards, societies and foundations including non-profits and serves as a serial advisor to many eye care organizations. Dr. Parekh is currently CEO/Co-Founder of Eyecare Consultants of NJ, a practicing ophthalmologist, and most recently hired by Inizio Engage as Chief Commercial Officer. He earned his MD at the early-acceptance medical program at the Boston University School of Medicine. A dual-trained internist and board-certified ophthalmologist, he completed his ophthalmology training/chief year at Boston University Medical Center and then went on to the New York Eye & Ear Infirmary where he completed a fellowship in cornea/anterior segment/refractive surgery and still remains as an active Clinical Associate Professor. Dr. Parekh also completed an MBA at the Fuqua School of Business at Duke University.

About Nordic Group B.V.

Nordic Group B.V. is a privately owned, medium-size international pharmaceutical company which focuses on the development and commercialization of specialty products. Portfolio enhancement has been accomplished through targeted developments and focused acquisitions to build a foundation in Eye Care, Rheumatology and Women’s Health. Nordic Pharma has established deep roots throughout Europe, and more recently, expanded outside of Europe with increased acquisitions worldwide.

Nordic Pharma is a part of SEVER Life Sciences, a holding company created in 2019 that brings together three diverse but complementary companies that offer a wide range of products, pharmaceutical development services and delivery technologies.

About Amring Pharmaceuticals Inc.

Amring Pharmaceuticals Inc., subsidiary of Nordic Group B.V., is partnered with well-established global biopharmaceutical companies and is uniquely positioned to leverage its expertise in bringing biotechnology derived medicines, sterile manufacturing and other state-of-the-art technologies to the marketplace.

About Visant Medical, Inc.

Visant Medical is a clinical-stage medical device company. It received FDA 510(k) clearance in 2022 for LACRIFILL® cross-linked hyaluronic acid-based canalicular occlusive device. LACRIFILL is intended to block tear drainage by occlusion of the canalicular system. It is indicated for use, for up to 6 months, in patients experiencing dry eye symptoms.

Symatese SAS, a French company based in Lyon, was instrumental in the development of LACRIFILL, significantly enhancing the product's design and performance, by leveraging its expertise in tissue regeneration, reconstruction and related delivery systems. SYMATESE specializes in injectable crosslinked HA gels for many markets including Aesthetic, Rheumatology, Ophthalmology. With more than 40 researchers, SYMATESE designs the most advanced medical device solutions thanks to their technology portfolio in hyaluronic acid, collagen, thermoplastics and silicone.

Safe Harbor

This press release contains forward-looking statements, including, without limitation, statements related to Amring/Nordic Pharma’s business developments and the implementation of Amring/Nordic Pharma’s strategic initiatives. Because these statements reflect Amring/Nordic Pharma’s current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties that could cause actual developments and results to differ materially from Amring/Nordic Pharma’s expectations. These factors include, but are not limited to, general market conditions, regulatory trends, changes in the financial conditions of third parties dealing with Amring/Nordic Pharma, and other factors that could affect Amring/Nordic Pharma’s business and financial performance. Amring/Nordic Pharma does not assume any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

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