Release date- 02102017 - WALTHAM - AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) today announced the appointment of Tracy Palmer Berns as chief compliance officer effective immediately.
She will report to Joseph Vittiglio, general counsel and senior vice president of legal affairs and quality.
In her role at AMAG, Ms. Berns will be responsible for the company's compliance program and therapeutic-product legal team and provide legal advice on regulatory, development, pharmacovigilance and quality matters. Additionally, she will further strengthen the organization's culture to continue to prioritize ethics and compliance.
Ms. Berns brings more than 20 years of healthcare industry experience, creating effective compliance programs focused on policies, training, risk assessment, monitoring, investigations and discipline. Most recently, she served as the vice president of ethics and compliance within the Minimally Invasive Therapies Group at Medtronic, reporting to the president of the division and Medtronic's chief ethics and compliance officer.
Prior to this position, she was vice president and chief compliance and regulatory counsel at Covidien, where she was responsible for the company's global compliance program to ensure compliance with relevant laws and regulations.
'I am confident that Tracy's broad experience leading compliance programs in other healthcare organizations will be beneficial to AMAG today, and in the future as we continue to expand our product portfolio,' said Mr. Vittiglio. 'Her insights and expertise will be helpful as we continue to develop and market novel therapeutics to address significant unmet medical needs.'
Ms. Berns received her law degree from Columbia University and her Bachelor's degree at Knox College in Illinois.
Inducement Equity Awards
In connection with Ms. Berns entering into employment with AMAG, the Board of Directors of AMAG approved awards to Ms. Berns of (i) an option to purchase 20,000 shares of common stock and (ii) 9,000 restricted stock units. The option will have an exercise price equal to the closing price of AMAG's common stock on the grant date and will be exercisable in four equal annual installments beginning on the first anniversary of the grant date. The option will have a ten-year term and be subject to the terms and conditions of the stock option agreement pursuant to which the option will be granted. The restricted stock units will vest in three equal annual installments beginning on the first anniversary of the grant date and will be subject to the restricted stock unit agreement pursuant to which the restricted stock units will be granted. These equity awards will be granted without stockholder approval as inducements material to Ms. Berns entering into employment with AMAG in accordance with NASDAQ Listing Rule 5635(4).
AMAG is a biopharmaceutical company focused on developing and delivering important therapeutics, conducting clinical research in areas of unmet need and creating education and support programs for the patients and families we serve. Our currently marketed products support the health of patients in the areas of maternal and women's health, anemia management and cancer supportive care. Through CBR, we also help families to preserve newborn stem cells, which are used today in transplant medicine for certain cancers and blood, immune and metabolic disorders, and have the potential to play a valuable role in the ongoing development of regenerative medicine.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein which do not describe historical facts, including but not limited to statements regarding Ms. Berns' responsibilities at AMAG related to the company's compliance program and its' therapeutic-product legal team, including providing legal advice on regulatory, development, pharmacovigilance and quality matters and strengthening the organization's culture to continue to prioritize ethics and compliance; AMAG's belief that Ms. Berns' broad experience leading compliance programs in other healthcare organizations will be beneficial to AMAG as it continues to expand its product portfolio and that her insights and expertise will be helpful as the company continues to develop and market novel therapeutics to address significant unmet medical needs and beliefs that newborn stem cells have the potential to play a valuable role in the development of regenerative medicine are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements.
Such risks and uncertainties include, among others, those identified in AMAG's Securities and Exchange Commission (SEC) filings, including AMAG's Annual Report on Form 10-K for the year ended December 31, 2016 and subsequent filings with the SEC. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made.
AMAG disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
AMAG Pharmaceuticals and Feraheme are registered trademarks of AMAG Pharmaceuticals, Inc. CBR is a registered trademark of Cbr Systems, Inc.