Baudax Bio, Inc. Announces Board and Committee Changes
November 26, 2019 at 04:57 pm
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On November 21, 2019, Recro Pharma, Inc. completed the previously announced separation of its acute care business segment, and certain other assets and liabilities. The separation was effected by way of a distribution of all of the then outstanding shares of common stock of Baudax Bio, Inc. (the Company) through a dividend of one share of the Company's common stock for every two and one-half shares of Recro common stock held by Recro shareholders as of the close of business on November 15, 2019, the record date for the distribution. Effective upon the completion of the Separation, the board of directors of the Company increased the size of the Board from two to five directors, Ryan D. Lake resigned from his position as a member of the Company's Board, and the following individuals were appointed by the Board (each, a New Director) to fill the resulting vacancies and to serve on the committees of the Board set forth opposite each director's name: Alfred Altomari as member of Audit, Compensation, Nominating and Corporate Governance committees, William Ashton as member of Audit, Compensation, Nominating and Corporate Governance committees, Winston J. Churchill as member of Audit, Compensation, Nominating and Corporate Governance committees, and Wayne B. Weisman as member of Compensation, Nominating and Corporate Governance committees.
Baudax Bio, Inc. is a pharmaceutical company. The Company is focused on developing and commercializing products for hospital and related acute care settings. The Company's lead product candidate is ANJESO injection. ANJESO is a cyclooxygenase-2 (COX-2), a preferential, non-steroidal anti-inflammatory for the management of moderate to severe pain, which could be administered alone or in combination with other non-NSAID analgesics. Its pipeline of other pharmaceutical products includes two neuromuscular blocking agents (NMBs) and a chemical reversal agent, which are used as muscle paralyzing agents to facilitate intubation and surgery. Its product pipeline includes NMBAs, which are used as muscle paralyzing agents to facilitate intubation and surgery. It is developing intermediate-acting NMBA, BX-1000, an ultrashort-acting NMBA, BX-2000, and a reversal agent specific to its NMBAs. It is also focused on the discovery and development of Treg-based cell therapies for autoimmune diseases.