SAN DIEGO--(BUSINESS WIRE)--
Innovus
Pharmaceuticals, Inc. ("Innovus Pharma") (OTCQB Venture Market:
INNV), an emerging commercial stage pharmaceutical company that delivers
safe, innovative and effective over-the-counter medicine
and consumer care products to improve men's and women's health and
respiratory diseases, today announced today that Mr. Robert Hoffman will
join the management team as Executive Vice President and Chief Financial
Officer effective September 6, 2016. A biopharmaceutical veteran with
decades of experience, Hoffman joins Innovus at a time of rapid
growth, with revenues
and cash flow exceeding expectations, and will work to up-list the
company from the OTCQB Venture Market to a higher national exchange.
"With products like Vesele®, BTH®
testosterone booster and Zestra®
for female arousal already successful in the marketplace, we are
growing faster than expected," said Dr.
Bassam Damaj, Innovus' Chief Executive Officer. "Hoffman's expertise
and experience will help us to continue and manage that growth, to make
additional acquisitions and forge new partnerships, and to move Innovus
to a higher national exchange."
"This is an exciting time to be joining Innovus," said Hoffman. "I look
forward to working with the rest of the management team to accelerate
the up-listing plans and to continue the company's rapid growth."
Hoffman will also oversee finance, accounting, human resources,
information technology, and investor relations at Innovus.
Most recently, Mr. Hoffman was Chief
Financial Officer of AnaptysBio,
Inc., a clinical stage biopharmaceutical company. He was part of the
founding management team of Arena
Pharmaceuticals, Inc. (NASDAQ: ARNA), a biopharmaceutical company, in
1997, serving as Senior Vice President, Finance and Chief Financial
Officer until 2015. He also served as Chief
Financial Officer for Polaris Group, a biopharmaceutical drug
company, from March 2011 to August 2011.
Mr. Hoffman is a member of the board of directors of CombiMatrix
Corporation (NASDAQ: CBMX), a molecular diagnostics company, Kura
Oncology, Inc. (NASDAQ: KURA), a biotechnology company, and MabVax
Therapeutics Holdings, Inc. (NASDAQ: MBVX), a biopharmaceutical
company. He also was a member of the Financial Accounting Standards
Board's Small
Business Advisory Committee until 2015 and is a member of the
steering committee of the Association
of Bioscience Financial Officers. Mr. Hoffman received his B.B.A.
from St. Bonaventure University, and is licensed as a C.P.A. (inactive)
in the State of California.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging leader in OTC
and consumer products for men's and women's health and vitality. The
Company generates revenues from its lead
products (a) BTH® Testosterone Booster, (b) BTH® Human Growth Agent,
(c) Zestra® for female arousal and (d) EjectDelay® for premature
ejaculation and has an additional five marketed products in this space,
including (e) Sensum+® for the indication of reduced penile sensitivity
(for sales outside the U.S. only), (f) Zestra Glide®, (g) Vesele® for
promoting sexual and cognitive health, (i) Androferti® (in the US and
Canada) to support overall male reproductive health and sperm quality,
(j) BTH Vision Formula, (k) BTH Blood Sugar, among others and eventually
FlutiCare™ OTC for Allergic Rhinitis, if its ANDA is approved by the
U.S. FDA.
For more information, go to www.innovuspharma.com;
www.zestra.com;
www.ejectdelay.com;
www.myvesele.com;
www.sensumplus.com;
www.myandroferti.com;
www.beyondhumantestosterone.com;
www.getbeyondhuman.com;
www.trybeyondhuman.com.
Innovus Pharma's Forward-Looking Safe Harbor:
Statements under the Private Securities Litigation Reform Act, as
amended: with the exception of the historical information contained in
this release, the matters described herein contain forward-looking
statements that involve risks and uncertainties that may individually or
mutually impact the matters herein described for a variety of reasons
that are outside the control of the Company, including, but not limited
to, "up-listing" to a higher national exchange, additional acquisitions,
commercial partnerships, and to achieve its other development, growth,
commercialization, financial and staffing objectives. Readers are
cautioned not to place undue reliance on these forward-looking
statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read
the risk factors set forth in the Company's most recent annual report on
Form 10-K, subsequent quarterly reports filed on Form 10-Q and other
filings made with the SEC. Copies of these reports are available from
the SEC's website or without charge from the Company.
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