WEST CHESTER, Pa., Oct. 09, 2019 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (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, today announced it has appointed Eugene Scavola to the role of Executive Vice President, Technical Operations.
An accomplished life sciences industry veteran, Mr. Scavola will spearhead Verrica’s Chemistry Manufacturing and Controls (CMC) functions. In this capacity, he will lead operational and technical aspects of product development, contract manufacturing, and analytical development activities for all Verrica product candidates.
“As we advance our lead product candidate, VP-102, CMC becomes an increasingly critical aspect of our overall operations,” said Ted White, President and Chief Executive Officer of Verrica. “We are extremely pleased to have an industry leader like Eugene Scavola overseeing a myriad of aspects of our product development and contract manufacturing, and we are confident in his ability to bring new innovations and increased efficiencies to our technical operations.”
Mr. Scavola has more than 25 years of measurable successes spearheading the establishment of supply chain infrastructure, managing production processes, and overseeing various operational functions across a broad range of consumer healthcare, pharmaceutical, and biotechnology entities. Prior to joining Verrica, Mr. Scavola was a Managing Partner at PBM Capital Group. In this capacity, he led product development and supply chain functions, as well as organizational restructuring and FDA interactions for a wide range of life science portfolio companies transitioning to standalone entities. In a previous role, Mr. Scavola spent over 15 years, and held a number of leadership positions, with Wyeth/Pfizer at several of its key sites. These roles, of increasing and varying responsibilities, encompassed manufacturing site operations, business systems development and implementation, facilities infrastructure construction project management, and key strategic operational project leadership. During this time, Mr. Scavola was also responsible for the design and implementation of several enterprise-wide manufacturing and automation interface systems. In the role of Primary Processing Unit Lead, he managed successful efforts to pass FDA biennial and pre-approval inspections, as well as several international regulatory agency inspections, with no critical observations. He also was directly responsible for the successful launch of dozens of consumer healthcare and pharmaceutical products, and management of numerous operational efficiency and cost savings projects. Mr. Scavola holds a Masters in Systems Engineering from the University of Virginia, and a BS in Applied Economics from the Wharton School, University of Pennsylvania.
About Verrica Pharmaceuticals Inc.
Verrica is a medical dermatology company committed to the development and commercialization of novel treatments that provide meaningful benefit for people living with skin diseases. The Company’s late-stage product candidate, VP-102, is a potential first-in-class topical therapy for the treatment of molluscum contagiosum and common warts. Molluscum is a highly contagious viral skin infection affecting approximately six million people, primarily children, in the United States, and common warts are contagious skin growths affecting 22 million people. There are currently no FDA-approved treatments for molluscum or common warts. Following positive topline results from two pivotal Phase 3 trials, the Company submitted an NDA in September 2019 for VP-102 for the treatment of molluscum. Verrica is planning to meet with the FDA to determine next steps on the development of VP-102 for common warts following positive Phase 2 results. VP-102 is also currently in a Phase 2 trial for the treatment of external genital warts. A second product candidate, VP-103, is in pre-clinical development for plantar warts. For more information, visit www.verrica.com.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the potential benefits of VP-102 for the treatment of molluscum, the clinical development of VP-102 for additional indications and the potential for new innovations and increased efficiencies to Verrica’s technical operations. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the U.S. Securities and Exchange Commission on March 7, 2019, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.
FOR MORE INFORMATION, PLEASE CONTACT:
Chief Financial Officer
484.453.3300 ext. 103
Joshua R. Mansbach