Oceana Therapeutics Announces David S. Tierney, MD Named to the 2011 PharmaVOICE 100 Most Inspiring People in the Life Sciences Industry

EDISON, N.J.--(BUSINESS WIRE)--

Oceana Therapeutics, a global company focused on acquiring, developing and commercializing best-in-class specialty therapeutics, today announced that the Company's President & COO, David S. Tierney, MD, has been featured in PharmaVOICE's 2011 listing of the 100 Most Inspiring People in the Life Sciences Industry.

Now in its seventh year of publication, this listing pays tribute to 100 life-science professionals selected from thousands of nominees representing a broad cross section of the industry, including pharmaceutical, biotechnology, device technology, clinical trial, R&D, and many others sectors. The PharmaVOICE 100 honorees are profiled in the publication's special July/August issue.

According to Taren Grom, PharmaVOICE's editor-in-chief and cofounder, the PharmaVOICE 100 are individuals who think outside the box, pioneer new paths to success, and who inspire their colleagues in the industry. The 100 are individuals who translate industry issues into opportunities and take the time to mentor the next generation of leaders in the life sciences.

Tierney is a repeat recipient of this honor, having previously been on the 2006 and 2005 lists. More recently, in June of this year, Tierney was also named, along with John T. Spitznagel, Oceana's Chairman & CEO, as a co-recipient of the Ernst & Young Entrepreneur Of The Year® 2011 award for the New Jersey region Emerging company category.

Prior to Oceana, Tierney served as CEO of Valera Pharmaceuticals, a company he joined in 2002 and transformed from an obscure research firm into a commercial specialty pharma enterprise which was acquired in 2007 and has since become part of Endo Pharmaceuticals ENDP. Earlier, he collaborated with Spitznagel at Roberts Pharmaceutical, a company they both joined in the late 1990s to successfully salvage that company's failing operations and dramatically build earnings and asset value which led to Roberts' purchase, at year-end 1999, by Shire plc SHPGY for over $1.2 billion.

“I have known David for more than 15 years, and there is no question he is highly deserving of the PharmaVOICE 100 honor,” said Spitznagel. “David's abilities as a life-science professional are exceptional and have significantly influenced the dramatic growth of Oceana from a start-up in mid 2008 to a global specialty company today. I am proud to call him a friend as well as a colleague.”

Tierney commented, “I am sincerely delighted to be included in the PharmaVOICE 100. This and other honors and awards bestowed upon Oceana and several of our management team in the past couple of years reflects the hard work and support of many talented people who continue to drive the success of our Company.”

“It is our team commitment to excellence that has placed Oceana on the threshold of an exciting new growth phase as we prepare for the U.S. launch of Solesta,” noted Tierney. “Recently approved by FDA, Solesta is a minimally invasive, out patient treatment option for fecal (bowel) incontinence that we believe represents a major advancement in addressing the needs of many underserved patients afflicted with this life-limiting condition.”

About Oceana Therapeutics

Oceana Therapeutics is committed to commercializing best-in-class therapeutics to address unmet and under-satisfied medical needs with a focus on colorectal, gastroenterology and urological diseases. With executive offices in Edison, NJ and European operations headquartered in Dublin, Ireland, Oceana is exceptionally well positioned to pursue worldwide opportunities to acquire and maximize the potential of approved and late-stage specialty therapeutics, including devices, pharmaceuticals, and diagnostics. The Company's growing portfolio of specialty therapeutics includes Deflux®*, available internationally for the pediatric urinary condition vesicoureteral reflux, and Solesta®*, recently approved by FDA and expected to be launched shortly as a significant new treatment option for patients afflicted with the life-limiting condition of fecal (bowel) incontinence. A privately held company, Oceana has investment support from the leading venture capital and private equity firms of Kelso & Company and Frazier Healthcare Ventures. For additional information visit www.OceanaThera.com.

Additional information about Deflux and Solesta, including prescribing and safety information, is available, respectively, at www.Deflux.com and www.SolestaInfo.com.

* Deflux® and Solesta® are registered trademarks of Q-Med AB of Uppsala Sweden; Oceana Therapeutics acquired worldwide sales and distribution rights to both products in June 2009.