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Valeritas Announces Appointment of New CEO

Posted on: Monday, 1 June 2009, 10:09 CDT

Former Johnson & Johnson Senior Executive Kristine Peterson to Take Helm

PARSIPPANY, N.J., June 1 /PRNewswire/ -- Valeritas, Inc., a medical technology company committed to the development and commercialization of innovative drug delivery solutions, announced today that it has hired Kristine Peterson to serve as its Chief Executive Officer.

Peterson brings 26 years of industry experience to Valeritas, with her most recent successes as Company Group Chair of Johnson & Johnson's Biotech Business where she was directly responsible for commercial, research & development and supply chain/manufacturing for biotech, oncology, immunology, and cell therapy.

"We are thrilled that Kris has joined the Valeritas executive team," said Vaughn Kailian, Executive Chairman of the Board, Valeritas, Inc and Managing Director of MPM Capital. "She exhibits a broad range of experience and leadership qualities, along with a deep compassion for patients and their challenges. This exceptional skill set makes her the ideal leader to take Valeritas to the next level as a fully operational medical technology company."

"Joining Valeritas at this pivotal time in its lifecycle is a great privilege," said Peterson. "With the company's strong financial backing, a potentially life changing first product, and a broad technology platform that can support a wide array of therapeutic options, Valeritas is positioned to be a highly successful company."

Peterson joined Johnson & Johnson in August 2004 as Executive Vice President, Pharmaceutical Group Strategic Marketing with responsibility for developing global launch plans for Internal Medicine, Metabolics, Central Nervous System, Oncology, Virology, Anemia and Pain franchises. Prior to joining J&J, Peterson was Senior Vice President, Commercial Operations, Biovail Corporation and President Biovail Pharmaceuticals. In this role, she was responsible for US, Canada, Nutravail, Business Development and New Product Planning. Earlier, Peterson spent 20 years with Bristol-Myers Squibb where she held assignments of increasing responsibility in sales, marketing and general management including running a Cardiovascular/Metabolics business unit and a generics division.

Peterson is currently a member of the Biotechnology Industry Organization Board (Health Governing Section) and a member of the Greater Philadelphia Life Sciences Congress Board. She is also an advisor to the Healthcare Businesswoman's Association Metro Chapter.

About Valeritas, Inc.

Valeritas is a medical technology company committed to developing and commercializing innovative drug delivery solutions that contribute to clinical and humanistic outcomes for patients, with an initial focus on the treatment of diabetes. Valeritas' medical technologies portfolio is headlined by the h-Patch(TM) Technology. The first use of the h-Patch(TM) technology will be the V-Go(TM) disposable insulin delivery device for continuous delivery both at a pre-set basal rate and for on-demand bolus dosing at mealtimes.

In addition to V-Go(TM), Valeritas' delivery technology portfolio includes the h-Patch(TM) for the delivery of other compounds beyond insulin, the Mini-Ject(TM) Pre-Filled Needle-Free Delivery System, and the Micro-Trans(TM) Microneedle Transdermal Delivery Patch. These technologies, when combined with certain compounds, are designed to provide unique products that allow precise dosing in previously difficult to treat conditions.

Headquartered in Parsippany, N.J., Valeritas operates its R&D and manufacturing in a state-of-the-art facility in Shrewsbury, Massachusetts. Valeritas primary investors include: MPM Capital, Pitango Venture Capital, Abingworth, US Venture Partners, Onset Ventures, Advanced Technology Ventures, HLM Venture Partners, CHL Medical Partners, and Kaiser Permanente Ventures.

SOURCE Valeritas, Inc.

Source: PR Newswire

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