Pacira Biosciences, Inc. (NASDAQ: PCRX) has announced changes to its board of directors, with Laura Brege being appointed as the new chair. This comes as former chair Paul J. Hastings and Andreas Wicki, PhD retire from the board, aligning with Pacira's commitment to ongoing board refreshment. With these changes, the board is now composed of nine directors, eight of whom are independent, and five of whom have joined since October 2023.
Laura Brege, the newly appointed chair, brings over a decade of experience with the company and over 30 years of executive management experience in the pharmaceutical and biotechnology industries. She has held executive or strategic advisory positions at companies such as BridgeBio Pharma, Inc., Onyx Pharmaceuticals, Inc., and Cor Therapeutics, Inc.
Pacira is currently executing its new 5x30 growth strategy, and the board's composition aligns with this plan. The company aims to drive innovation and create value in the significant and growing markets of high unmet need.
During his tenure, Paul J. Hastings played a pivotal role in Pacira becoming a leading provider of innovative non-opioid pain management solutions with a portfolio of three best-in-class commercial assets. Dr. Wicki, who has served on the board since 2006, has been instrumental in overseeing and supporting the execution of Pacira’s strategy.
The company remains confident that the current composition of the board combines the right mix of skills and expertise to oversee the company’s strategic plan and drive value for Pacira shareholders.
In addition to the board changes, Pacira also refreshed committee assignments and appointed Alethia Young to succeed Ms. Brege as chair of the audit committee.
Pacira Biosciences, Inc. is known for delivering innovative, non-opioid pain therapies to transform the lives of patients. It currently has three commercial-stage non-opioid treatments: Exparel® (bupivacaine liposome injectable suspension), Zilretta® (triamcinolone acetonide extended-release injectable suspension), and ioveraº®, a novel, handheld device for delivering immediate, long-acting, drug-free pain control using precise, controlled doses of cold temperature to a targeted nerve. The company is also advancing the development of PCRX-201, a novel locally administered gene therapy with the potential to treat large prevalent diseases like osteoarthritis. Today the company's shares have moved 2.3% to a price of $26.64. Check out the company's full 8-K submission here.
