WEST CHESTER, PA — Verrica Pharmaceuticals Inc. (Nasdaq: VRCA), a medical dermatology company committed to the development and commercialization of novel treatments that provide meaningful benefit for people living with skin diseases, announced that the Company has appointed A. Brian Davis as its new Chief Financial Officer (CFO). Mr. Davis replaces Chris Degnan, who is leaving the organization to pursue an opportunity in the oncology sector.
Mr. Davis joins Verrica with nearly 15 years of experience as a CFO for publicly traded, commercial- and development-stage biopharmaceutical companies, and more than 25 years as a financial professional in the life sciences industry. He has extensive expertise in fundraising, having raised over $500 million in public and private equity financings and over $140 million in debt financings, as well as in shareholder relations, financial strategy, and SEC accounting, reporting, and compliance.
In his prior role as CFO of Strongbridge Biopharma, Mr. Davis successfully completed three equity financings, including an initial public offering, and multiple debt financings to support the acquisition and development of several product candidates, including the acquisition and U.S. launch of two FDA-approved products. Previously, he held the title of Senior Vice President and CFO at Tengion, a public, clinical-stage biotechnology company.
During his tenure, Mr. Davis completed equity and convertible debt financings, as well as refinancing initiatives, and led deal and non-deal investor roadshows. Mr. Davis also held a similar role at Neose Technologies, where he led six public and five private equity financings, totaling approximately $280 million. He successfully negotiated the sale of assets to Novo Nordisk, oversaw financial reports, and directed financial aspects of collaborative research agreements with Wyeth, Bristol-Myers Squibb, and Johnson & Johnson. Mr. Davis holds an MBA from The Wharton School, University of Pennsylvania, and a BS in Accounting from Trenton State College.
“We are extremely excited to welcome Brian to the Verrica team,” said Ted White, President and Chief Executive Officer of Verrica. “His experience guiding financial strategy for life science companies transitioning from development-stage to commercial-stage will be invaluable at this juncture of our product candidate’s lifecycle.”
“We also appreciate Chris Degnan’s contributions to our organization,” continued Mr. White. “Chris helped bring us to the important milestone of our first NDA submission, and we understand his desire to pursue a new direction.”
“The fight against cancer is a personal one for me, and the chance to make a tangible difference in that battle is of undeniable interest,” said Mr. Degnan. “Leaving Verrica was not an easy decision, but I have the utmost confidence in the promise of VP-102, and the leadership team that will guide it towards potential commercialization.”
Source: Verrica Pharmaceuticals Inc.10 North High Street, Suite 200, West Chester PA 19380
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