WESTLAKE, Texas, Dec. 4 /PRNewswire-FirstCall/ -- MiddleBrook Pharmaceuticals, Inc. , today announced that it has opened its administrative and sales office in Westlake, Texas. The Company's Germantown facility will continue to house certain personnel and functions, including MiddleBrook's research and development group. The newly leased 14,971 square foot Westlake facility is expected to house up to 60 employees as MiddleBrook grows.
MiddleBrook President and CEO John Thievon said, "I am extremely pleased that MiddleBrook's sales and administrative office is now open in Westlake, Texas. Our Westlake office is close to the Dallas Fort Worth International Airport, and Westlake is an ideal location as we build our national field force and prepare for the nationwide trade and professional launch of Moxatag, the first and only FDA-approved once-daily amoxicillin, in the first half of 2009."
MiddleBrook's administrative and sales office is located at 7 Village Circle, Suite 100, Westlake, Texas, 76262. The main telephone number for the MiddleBrook's Westlake office is 817-837-1200. The contact number for MiddleBrook's Germantown facility remains 301-944-6600.
The Company also announced that Marc A. Buxbaum has joined MiddleBrook as associate vice president, sales. Prior to joining MiddleBrook, Buxbaum held various positions of increasing responsibility in sales leadership at Bayer Corporation, Elan Pharmaceuticals, Biovail Pharmaceuticals and Salix Pharmaceuticals. Buxbaum brings over 16 years' experience in sales, sales management and training to his new role at MiddleBrook. His previous roles include sales representative, district manager, director of training and most recently, area sales director.
MiddleBrook Pharmaceuticals Reports Inducement Grants Under NASDAQ Marketplace
Rule 4350
MiddleBrook Pharmaceuticals also announced today that on Nov. 28, 2008, it granted an option to purchase 325,000 shares of MiddleBrook's common stock to Frank L. Koos as a material inducement for Koos to join as its new senior vice president, sales & business development, and options to purchase 1,034,500 shares of MiddleBrook's common stock to twenty-two (22) new employees as a material inducement for them to join MiddleBrook. The options were granted pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) and under MiddleBrook's New Hire Stock Incentive Plan, which was approved by MiddleBrook's Board of Directors on Sept. 26, 2008. The options have a per share exercise price equal to the closing price of MiddleBrook's common stock on the NASDAQ Global Market on the business day immediately preceding the grant date, a ten-year term and vesting over four years, with 25 percent of the options vesting one year from the grant date and 1/48th of the options vesting monthly thereafter. The options have a grant date of Nov. 30, 2008.
About Moxatag:
Moxatag (amoxicillin extended-release) Tablets, 775mg, is a once-a-day extended-release formulation of amoxicillin for oral administration consisting of three components: one immediate-release component and two delayed-release components. The three components of Moxatag are combined in a specific ratio to prolong the release of amoxicillin compared to immediate-release amoxicillin. Moxatag is intended to provide a lower treatment dose, once-daily alternative to currently approved penicillin and amoxicillin regimens for the treatment of adults and pediatric patients 12 years and older with tonsillitis and/or pharyngitis. For more information about Moxatag, please visit http://www.middlebrookpharma.com/.
About MiddleBrook Pharmaceuticals:
MiddleBrook Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing anti-infective products that fulfill unmet medical needs. We are currently developing a portfolio of anti-infective products utilizing our proprietary, once-a-day pulsatile delivery technology called Pulsys. Our near-term corporate strategy is to improve dosing regimens and/or frequency of dosing which we believe will result in improved patient dosing convenience and compliance for antibiotics that have been used and trusted by physicians and patients for decades. The Company currently markets the Keflex brand of cephalexin and has received regulatory approval for Moxatag -- the first and only once-daily amoxicillin product approved for marketing in the U.S. For more information about MiddleBrook, please visit http://www.middlebrookpharma.com/.
Forward-Looking Statements:
This announcement contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, that involve risks and uncertainties. In some cases, forward-looking statements are identified by words such as "believe," "anticipate," "expect," "intend," "plan," "potential," "estimate," "will," "may," "predict," "should," "could," "would" and similar expressions. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this announcement. All of these forward-looking statements are based on information available to us at this time. Actual results could differ from those projected in these forward-looking statements as a result of many factors, including those identified in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," and elsewhere in our Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2008, our Annual Report on Form 10-K for the year ended Dec. 31, 2007, and in similar disclosures made by us from time to time in our other filings with the Securities and Exchange Commission. We undertake no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our filings with the Securities and Exchange Commission. MiddleBrook, MiddleBrook Pharmaceuticals (stylized), MiddleBrook Pharmaceuticals, Inc., Pulsys, Moxatag, M1 (stylized), Moxatag 1 (stylized) and Keflex are our trademarks and have been registered in the U.S. Patent and Trademark Office or are the subject of pending U.S. trademark applications. Each of the other trademarks, tradenames or services marks appearing in this document belongs to its respective holder.
