Windtree Therapeutics, Inc. (NasdaqCM: WINT), a biotechnology and medical device company focused on developing drug product candidates and medical device technologies to address acute cardiovascular and pulmonary diseases, today announced John Hamill has been appointed Senior Vice President, Chief Financial Officer. In this role, Mr. Hamill will help accelerate key initiatives to advance the Company's business, financial planning, and shareholder value.
"We are delighted to have John join the Windtree team. He brings to us broad industry experience, having served as a seasoned financial executive and in a variety of senior roles for publicly traded companies," said Craig Fraser, chief executive officer of Windtree. "Throughout his career, John has demonstrated strong leadership to drive performance and has achieved many significant accomplishments. John's deep and practical industry experience combined with a high level of personal engagement will be a tremendous asset as we execute our strategy."
Mr. Hamill commented, "I am very pleased to join Windtree, with its multiple late-stage assets and programs that aim to address unmet needs in significant cardiovascular and respiratory markets. It's an exciting time for the company and I look forward to being part of a talented team focused on building value."
John joins Windtree with over 30 years of financial leadership experience in the pharmaceutical, biopharmaceutical, and clinical research sectors. He brings broad-based experience in financial, administrative, information technology, and facility functions, in addition to his success in completing IPO and follow-on offerings for several pharmaceutical companies. He most recently provided consulting services to various life science companies, headed up finance at Trevena, Inc., where he was instrumental in successfully raising equity; NephroGenex, Inc., where he actively led the IPO and subsequent financial restructuring and sale of the company; Savient Pharmaceuticals, where he led a sale process resulting in $120 million in proceeds; and PharmaNet where he successfully completed its sale for approximately $250 million, which then became known as PharmaNet Development Group, where he directed financial and administrative operations for the company. John received a B.S. degree in Accounting and Business and Computer Science from DeSales University and is a certified public accountant.
In connection with Mr. Hamill's appointment, the Board of Directors of Windtree granted him a stock option to purchase 211,000 shares of Windtree's common stock. The exercise price of the stock option will be the closing price of Windtree's common stock on the Nasdaq Capital Market on the date of grant, July 20, 2020.
The stock option is being granted to Mr. Hamill as an inducement material to him accepting employment with Windtree and is being granted outside of the Windtree Therapeutics, Inc.'s 2011 Long-Term Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option will vest in three equal installments over three years beginning on the first anniversary of the grant date. The vesting of shares underlying the stock option is subject to Mr. Hamill's continued service with Windtree through each such applicable vesting date.
John Hamill is replacing Windtree's former CFO, John Tattory who is leaving to pursue other opportunities. In his former role, John Tattory led the Company's finance and accounting team, executing several successful fund-raising and business development transactions as well as the recent achievement of the Company's Nasdaq listing. The Company thanks John for his service and wishes him future success.
About Windtree Therapeutics
Windtree Therapeutics, Inc. is a clinical-stage, biopharmaceutical and medical device company focused on the development of novel therapeutics intended to address significant unmet medical needs in important acute care markets. Windtree has three lead clinical development programs spanning respiratory and cardiovascular disease states, including istaroxime, a novel, dual-acting agent being developed to improve cardiac function in patients with acute heart failure and cardiogenic shock; AEROSURF®, an innovative combination drug/device product candidate that is designed to deliver the Company's proprietary synthetic, peptide-containing surfactant noninvasively to premature infants with respiratory distress syndrome (RDS); and rostafuroxin, a novel precision drug product being developed to target hypertensive patients with certain genetic profiles in the important group of patients with resistant hypertension. Windtree also has multiple pre-clinical programs, including potential heart failure therapies delivered orally that are based on SERCA2a mechanism of action.
For more information, please visit the Company's website at www.windtreetx.com.
