BURLINGTON, Mass., Sept. 29, 2016 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) announced today that it has appointed John Magee as
Vice President of Sales, the latest of several key appointments to the company’s leadership team.
Mr. Magee has more than 35 years of experience as a sales professional. Prior to joining Flexion, he was head of U.S. sales for
the rare disease unit of Shire Pharmaceuticals, where he also served as U.S. sales director for its renal business. Previously, he
held senior sales positions at Esprit Pharma and Bayer Corporation. He has a Bachelor’s degree in biology and anthropology from
Hamilton College, and completed MBA courses at the Rochester Institute of Technology. Mr. Magee joins Flexion as the company
prepares to submit a planned new drug application (NDA) in the fourth quarter of 2016 to the U.S. Food and Drug Administration
(FDA) for its drug candidate Zilretta™ (also known as FX006), a potential treatment for patients with moderate to severe knee
osteoarthritis (OA) pain.
Michael Clayman, MD, President and Chief Executive Officer of Flexion, stated, “John is another
excellent addition to the Flexion team as we continue planning for Zilretta’s commercial launch. During his time in the rare
disease unit of Shire, he helped to achieve revenue growth of more than $1 billion. John’s experience in successfully recruiting
and managing pharmaceutical sales organizations will play a key role for us as we prepare for the potential launch and
commercialization of our new investigational treatment in the marketplace in 2017.”
About Flexion Therapeutics
Flexion is a specialty pharmaceutical company focused on the development and commercialization of novel, local therapies for the
treatment of patients with musculoskeletal conditions, beginning with OA. The company's lead product candidate, Zilretta, is being
investigated for its potential to provide improved analgesic therapy for the millions of U.S. patients who receive intra-articular
(IA) injections for knee OA annually.
Forward-Looking Statements
Statements in this press release regarding matters that are not historical facts, including, but not limited to, statements
relating to the future of Flexion; our plans for, and the expected timing of, our Zilretta NDA submission with the FDA; our plans
to commercialize Zilretta[, including the expected timing of commercial launch for Zilretta]; and the potential therapeutic and
other benefits of Zilretta, are forward-looking statements. These forward-looking statements are based on management's expectations
and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual
results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without
limitation, risks associated with the process of discovering, developing, manufacturing and obtaining regulatory approval for drugs
that are safe and effective for use as human therapeutics; our reliance on third parties to manufacture and conduct clinical trials
of Zilretta, which could delay or limit its future development or regulatory approval; our ability to meet anticipated regulatory
filing dates and commercial launch plans for Zilretta; the fact that we will require additional capital, including prior to
commercializing Zilretta or any other product candidates, and may be unable to obtain such additional capital in sufficient amounts
or on terms acceptable to us; the risk that we may not be able to maintain and enforce our intellectual property, including
intellectual property related to Zilretta; competition from alternative therapies; regulatory developments and safety issues,
including difficulties or delays in obtaining regulatory approvals to market Zilretta; the risk that the FDA and foreign regulatory
authorities may not agree with our interpretation of the data from our clinical trials of Zilretta and may require us to conduct
additional clinical trials; Zilretta may not receive regulatory approval or be successfully commercialized, including as a result
of the FDA’s or other regulatory authorities’ decisions regarding labeling and other matters that could affect its availability or
commercial potential; risks related to key employees, markets, economic conditions, health care reform, prices and reimbursement
rates; and other risks and uncertainties described in our filings with the Securities and Exchange Commission (SEC), including
under the heading "Risk Factors" in our most recent Annual Report on Form 10-K and subsequent filings with the SEC. The
forward-looking statements in this press release speak only as of the date of this press release, and we undertake no obligation to
update or revise any of the statements. We caution investors not to place considerable reliance on the forward-looking statements
contained in this press release.
Investor Contact David Carey Lazar Partners LTD T: 212-867-1768 dcarey@lazarpartners.com PR Contact Danielle Lewis Lazar Partners LTD T: 212-843-0211 dlewis@lazarpartners.com Corporate Contact Fred Driscoll Chief Financial Officer Flexion Therapeutics, Inc. T: 781-305-7763 fdriscoll@flexiontherapeutics.com
