Executive appointment assures a smooth transition.
Synergy Pharmaceuticals appointed 30-year strategy and operations veteran Gary G. Gemignani as Executive Vice President and CFO on April 17, in a move intended to provide a strong successor to retiring SVP of Finance Bernard Denoyer, as well as assure a smooth executive leadership transition as it launchesTRULANCE™, the company’s newly approved Irritable Bowel Syndrome (IBS) plecanatide therapy.
Synergy Pharmaceuticals Chairman and CEO, Gary S. Jacob, highlighted the extensive expertise in financial and operational management, business development and strategic planning Gemignani brings to the table. “We are very fortunate to have Gary Gemignani stepping into the critical leadership role of CFO,” he said. “We look forward to Gary’s contributions as we continue to optimize the TRULANCE™ launch and efficiently capitalize on this opportunity.”
Synergy’s once-daily OSD therapy was approved in March to treat adults with chronic idiopathic constipation (CIC). It is currently being evaluated for the treatment of adults with irritable bowel syndrome with constipation (IBS-C). Synergy said it issued three new patents covering the innovative manufacturing process of the therapy. The two other patents relate to formulations and methods of usingTRULANCE™ for treating and (IBS-C). Oppenheimer analysts predict peak sales of $695 million by 2029 for the drug.
Gemignani expressed his eagerness on his new endeavor stating, “I am thrilled to join Synergy at such a transformative time in the company’s history,” said Gary Gemignani. “I look forward to working with [Jacob] and his team of talented, dedicated employees to maximize the value of its core, high value asset,TRULANCE™, and leverage the solid foundation it now has in place to drive further growth.”
Gemignani served most recently as CEO/CFO of Biodel, Inc., (now Albireo) and in senior and executive financial and operational roles with multiple public and private companies including Coronado Biosciences, Inc., Gentium S.p.A., Novartis Pharmaceutical Corp. and Wyeth.