Posted 27 February, 2023
Adamis Pharmaceuticals Corp appointed Dr. Versi as new CEO
Nasdaq:ADMP appointed new Chief Executive Officer Dr. Versi in a 8-K filed on 27 February, 2023.
The Merger Agreement provides that prior to and effective upon the closing of the Merger, David J. Marguglio will resign as chief executive officer of Adamis and will continue as the President of Adamis, and Dr. Versi will be appointed as the chief executive officer of Adamis.
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Overview of Adamis Pharmaceuticals Corp
Health Care/Life Sciences • Pharmaceuticals
DMK Pharmaceuticals Corp. is a biopharmaceutical company, which engages in the discovery, development, and sale of pharmaceutical, specialty biopharmaceutical, and other drug products. The company provides products in various therapeutic areas, including allergy, respiratory, opioid overdose, and erectile dysfunction markets. It offers the SYMJEPI Injection for the emergency treatment of allergic reactions. The company was founded in June 2006 and is headquartered in San Diego, CA.Market Cap
$667K
View Company Details
$667K
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers. The disclosures set forth in Item 1.01 are incorporated by reference into this Item 5.02. Change in Company Officers and Directors The Merger Agreement contemplates that effective upon the closing of the Merger, David J. Marguglio and Richard C. Williams will resign from the Company's (and subsidiaries') board of directors (the "Board") and committees of the Board on which they respectively served, which resignation will not have been the result of any disagreements with Adamis relating to the Adamis' operations, policies or practices. The Merger Agreement also contemplates that effective upon the closing of the Merger, two directors designated by DMK will be appointed to the Board, that those directors will Dr. Versi and Jannine Versi, who currently are directors of DMK, and that Dr. Versi will become Chair of the Board. The Merger Agreement provides that prior to and effective upon the closing of the Merger, David J. Marguglio will resign as chief executive officer of Adamis and will continue as the President of Adamis, and Dr. Versi will be appointed as the chief executive officer of Adamis. Ebrahim (Eboo) Versi, M.D., Ph.D. Dr. Ebrahim "Eboo" Versi, age 70, has over 30 combined years of experience as a physician, practicing surgeon, academic, teacher, entrepreneur, investor, and senior executive. Dr. Versi has spent more than 20 years in the pharmaceutical and medical device industry, holding positions with both large and small pharmaceutical companies. During his career in the industry, Dr. Versi has been the inventor of several patents and the recipient of several NIH grants and has helped develop drugs and devices for a variety of indications. Dr. Versi founded DMK Pharmaceuticals in June 2016, serving as a member of the board of directors and became its chief executive officer in 2017. Dr. Versi founded Versi Group LLC in July 2005 and has served as its president since its inception. Versi Group LLC owns a portfolio of patents related to drug development and methods of delivery for various disease states including neuroscience, urology, and cardiology. From January 2021 to November 2022, Dr. Versi served as chairman of Dina Pharma Inc, a clinical-stage biopharmaceutical company. From April 2016 to December 2022, Dr. Versi served as chairman of Opus Therapeutics Inc., a company focused on developing drugs for urological disorders. Dr. Versi served as Consultant Chief Medical Officer from 2013 to 2014 for Taris Biomedical, Inc., a company developing a device for delivery of lidocaine to the bladder. From 2007 to 2009 Dr. Versi served as the Chief Medical Officer of Mt. Cook Pharma Inc., a company developing drugs for urology, analgesia, Parkinson's Disease, and depression. From 2009 to 2011 Dr. Versi served as Vice President, Head of Drug Safety and Medical Affairs at Auxilium Pharmaceuticals Inc., a public biopharmaceutical company. From 2006 to 2007, Dr. Versi served as Senior Vice President of development of Plethora Solutions Holdings PLC (AIM:PLC), a urology company with development drug products and devices. From 2004 to 2005, Dr. Versi served as senior vice president of Odyssey Pharmaceuticals, a subsidiary of Pliva d.d., now a Teva company, where he was developing and marketing prescription drugs for a variety of medical conditions. From 2003 to 2004, Dr. Versi served as vice president of medical affairs of Yamanouchi Pharma America (now Astellas Pharma US, Inc.), a major Japanese pharmaceutical company with a focus on urological products. From 1998 to 2003, Dr. Versi served as Director of Urology and Women's Health for Pharmacia (which merged with Pfizer), where he worked on raising awareness of bladder problems by changing the focus from urinary incontinence to overactive bladder (OAB). From 1997 to 1999, Dr. Versi served as consulting medical director for Eli Lilly and Company. Dr. Versi received a BA, MA and DPhil (Ph.D.) in 1978 from Oxford University in the United Kingdom before obtaining his MB BChir (MD) degree from Cambridge University in 1980. Following medical school, Dr. Versi completed a residency and fellowship at Kings College Hospital and served as a Senior Registrar at the Royal London Hospital. He was then a Senior Lecturer and Consultant (Attending) at St. Thomas' & Guys Hospitals before moving to the U.S. to accept an academic position as Associate Professor at Harvard Medical School which he held from 1993 to 1999. At Harvard, he set up the first urogynecology program at the Brigham & Women's Hospital and served as its Chief of Urogynecology. Since leaving Harvard, Dr. Versi has planned and executed clinical programs for multiple products that are currently marketed. Dr. Versi is an internationally recognized opinion leader with more than 100 scientific publications. Jannine Versi Jannine Versi, age 37, has served as a director of DMK since October 2017. In 2019, Ms. Versi co-founded Elektra Health, a privately-held healthcare technology company focused on women's health, and menopause in particular. She currently serves as the chief operating officer of Elektra Health. Prior to Elektra Health, Ms. Versi was on the founding team and served as vice president of clinical programs and partnerships at Cityblock Heath, a healthcare technology company, from 2017 to 2019. From 2014 to 2016, Ms. Versi served as Chief of Staff to the Under Secretary of Commerce for International Trade in the U.S. Department of Commerce as part of the Obama administration. Ms. Versi worked at Google from 2009 to 2012, reporting to Google's global marketing leadership in California and in the United Kingdom. Ms. Versi graduated magna cum laude from the University of Pennsylvania in 2007 and received an M.B.A. from Harvard Business School in 2014. From 2007 to 2008, Ms. Versi was a Fulbright Scholar conducting economic research in India. In 2021, Ms. Versi was a recipient of Harvard Business School's Blavatnik Fellowship in Life Science Entrepreneurship. Ms. Versi is the daughter of Dr. Versi. With that exception, there are no family relationships among any of the new persons expected to become directors or officers upon the closing of the Merger. Dr. Versi is a stockholder and option holder of DMK and will receive Merger Consideration Shares pursuant to the Merger, and DMK stock options held by Dr. Versi will be assumed by the Company pursuant to the Merger and the transactions contemplated by the Merger Agreement. Ms. Versi is the trustee of a member of Versi Group, LLC, a shareholder in DMK, and personally holds options to purchase shares of DMK common stock, which options will be assumed by the Company pursuant to the Merger and the transactions contemplated by the Merger Agreement.
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