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Geneva, Switzerland, 17 January 2017 – ObsEva SA (ObsEva), a biopharmaceutical company focused on the development and commercialization of novel therapeutics for serious conditions that impact a woman's reproductive health and pregnancy, announced today the appointment of a new Chief Financial Officer, Timothy M. Adams. Mr. Adams will be located in the Company's U.S. headquarters in Boston, Massachusetts, which is expected to employ finance, IR and clinical operation people and support ObsEva's clinical-stage programs in uterine fibroids, endometriosis, Assisted Reproductive Technology and preterm labor.
Mr. Adams has over 30 years of operating experience in emerging growth companies and most recently served as Executive Vice President and Chief Financial Officer of Demandware, Inc., an enterprise cloud commerce solutions company acquired by Salesforce in 2016. Previously, Mr. Adams served as Senior Vice President and Chief Financial Officer of athenahealth, Inc., Chief Investment Officer of Constitution Medical Investors and Chief Financial Officer at a number of publicly traded companies including Cytyc Corporation, a market leader in women's health diagnostic and device products, and Digex, Inc.
ObsEva is also pleased to announce that Frank Verwiel, M.D., who has served on the company's Board of Directors since early 2016, has been elected Chairperson of the Board. Dr. Verwiel has over 25 years of experience across multiple operational, development and commercial disciplines for both small and large biotechnology and pharmaceutical companies. Prior to joining the ObsEva Board, he was President and Chief Executive Officer of Aptalis Pharma. He is currently a member of the Board of Directors of AveXis, Inc., Achillion Pharma, Inc. and Bavarian Nordic A/S. Dr. Verwiel succeeds Annette Clancy, BSc, who has served as the Chairperson of the Board since ObsEva's inception and will continue to serve as a non-executive Board member and Chair of Compensation Committee.
Additionally, Barbara Duncan, formerly of Intercept Pharmaceuticals, Inc., has joined ObsEva's Board of Directors as the Chair of the Audit Committee. Ms. Duncan has 20 years of financial management experience in the industry and was previously the Chief Financial Officer and Treasurer at Intercept Pharmaceuticals Inc., Chief Executive Officer and Treasurer at DOV Pharmaceuticals, Inc., and Vice President at Lehman Brothers, Inc. She currently sits on the Board of Directors of publicly traded companies Adaptimmune Therapeutics plc, Aevi Genomic Medicine, Inc. and Innoviva, Inc.
"We are very excited to be welcoming Tim to ObsEva as we expand our reach into the United States in 2017," said Ernest Loumaye, M.D., Ph.D., ObsEva's CEO and Co-Founder. "As we enter this new chapter for the company the addition of Frank's and Barbara's leadership and knowledge on our Board of Directors will be invaluable as we continue to drive forward the development of potential novel, best-in-class women's reproductive health and pregnancy therapeutics."
ObsEva is a biopharmaceutical company innovating women's reproductive health and pregnancy therapeutics from conception to birth. Between the ages of 15 and 49, millions of women worldwide suffer from reproductive health conditions that affect their quality of life or their ability to conceive and may lead to complications during pregnancy. ObsEva aims to improve upon the current treatment landscape with the development of novel, oral medicines with potentially best-in-class safety and efficacy profiles. Through strategic in-licensing and disciplined drug development, ObsEva has established a clinical-stage pipeline with multiple development programs focused on treating the symptoms associated with uterine fibroids and endometriosis, improving clinical pregnancy and live birth rates in women undergoing in vitro fertilization, and treating preterm labor. For more information, please visit www.ObsEva.com.