VALENCIA, Calif., Dec. 23, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) and (TASE:MNKD) today announced the appointment of Duane M. DeSisto as its President and Chief Executive Officer, effective January 5, 2016, replacing Alfred Mann who has served as interim CEO since November 19, 2015. Mr. DeSisto was also appointed to fill an existing vacancy on the board of directors, effective January 5, 2016.
Previously, Mr. DeSisto served as the Chief Executive Officer and President of Insulet Corporation, a medical device company, from 2003 to 2014. From 2002 to 2003, he served as the President, Chief Financial Officer and Acting Chief Executive Officer of Insulet Corporation and, from 2001 to 2002, he served as the Chief Financial Officer and Treasurer of Insulet Corporation.
“Duane is a respected industry veteran with a strong track record of developing and commercializing disruptive technology for the management of diabetes,” said Alfred Mann, Executive Chairman of MannKind. “Duane’s experience will be instrumental as we seek to enhance the commercial opportunity for Afrezza® and pursue additional product opportunities within our pipeline. We are excited to welcome Duane to the team and look forward to his leadership.”
“I am thrilled to be joining MannKind and I look forward to working with the Board and leadership team to help Afrezza realize its full potential,” said Mr. DeSisto. “MannKind has world-class pharmaceutical technology that has the potential to address a large number of unmet medical needs, and I am excited by the opportunities at MannKind for creating significant value for our shareholders.”
From 1999 to 2001, Mr. DeSisto served in various positions at PaperExchange.com, Inc., a business solutions provider for the pulp and paper industry, including as President, Chief Executive Officer and Chief Financial officer. From 1995 to 1999, Mr. DeSisto served as the Chief Financial Officer of FGX International Holdings Limited (formerly AAI-Foster Grant, Inc.), an accessories wholesaler, where he had overall responsibility for the accounting, information technology and human resource departments. From 1986 to 1995, Mr. DeSisto served as the chief financial officer of ZOLL Medical Corporation, a medical device company specializing in noninvasive resuscitation devices and related software solutions. Mr. DeSisto earned a Bachelor of Science from Providence College and a Master of Business Administration from Bryant College.
About MannKind Corporation
MannKind Corporation (Nasdaq:MNKD) and (TASE:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at http://www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Mr. DeSisto’s expected contributions to MannKind, the potential of Afrezza and MannKind’s technology platform and MannKind’s future development plans. Words such as “believes”, “anticipates”, “plans”, “expects”, “intend”, “will”, “goal", “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the MannKind’s current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, MannKind’s dependency on Sanofi for commercialization of Afrezza, need and ability to raise additional capital and other risks detailed in MannKind’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2014 and the Quarterly Report on Form 10-Q for the quarter ended September 30, 2015. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
Company Contact:
Matthew J. Pfeffer
Chief Financial Officer
661-775-5300
mpfeffer@mannkindcorp.com
