Business
Heron Therapeutics Enters into Cooperation Agreement with Rubric Capital and Velan Capital
Appoints Three New Independent Directors SAN DIEGO, Feb. 22, 2023 /PRNewswire/ -- Heron Therapeutics, Inc. (NASDAQ: HRTX) ("Heron" or the "Company"), a
About this update from Heron Therapeutics, Inc.
[{"type":"text","content":"Appoints Three New Independent Directors\nSAN DIEGO, Feb. 22, 2023 /PRNewswire/ -- Heron Therapeutics, Inc. (NASDAQ: HRTX) (\"Heron\" or the \"Company\"), a commercial-stage biotechnology company focused on improving the lives of patients by developing and commercializing therapeutic innovations that improve medical care, today announced that it has entered into a cooperation agreement with two of its shareholders, Rubric Capital Management LP (\"Rubric\") and Velan Capital Investment Management LP (\"Velan\"). \nAs part of the agreement, Heron has agreed to appoint Craig Collard, former President & Chief Executive Officer at Veloxis Pharmaceuticals, and Adam Morgan, Chief Investment Officer at Velan, to the Company's Board of Directors (the \"Board\").\nAdditionally, as a result of Heron's ongoing refreshment process, the Company will appoint Kevin Kotler, Founder and Portfolio Manager of Broadfin Capital, to the Board. Current directors Stephen Davis and Kimberly Manhard will be leaving the Board. With these changes, the Heron Board will expand to eight directors, seven of whom are independent, and all of whom will stand for election to the Board at the upcoming 2023 Annual Meeting.\nHeron also announced it will separate the roles of Chairman and CEO after the conclusion of its 2023 Annual Meeting.\n\"Heron is committed to the ongoing renewal of its Board to ensure we maintain diverse and qualified directors who are charged with assisting to drive shareholder value,\" said Barry Quart, Pharm.D., Chairman and Chief Executive Officer of Heron. \"Craig, Adam and Kevin bring valuable expertise to the Board, and we are confident that Heron shareholders will benefit greatly from their experience across the medical technology, pharmaceuticals and healthcare industries. On behalf of the entire Board and management team, I would like to thank Stephen Davis and Kimberly Manhard for their service as directors of Heron.\"\nQuart continued, \"Today, Heron has a strong portfolio of four commercialized products, and we have made important advances in both our acute care and oncology care franchises. In 2023, we expect significant potential growth of ZYNRELEF, the launch of APONVIE in the U.S., and continued growth of our oncology care franchise. I look forward to working alongside Craig, Adam and Kevin and my other fellow Board members, as w...