Irvine-based Aerie Pharmaceuticals Inc. has been ramping up its activity in recent weeks.
Aerie is developing drugs to treat glaucoma and other eye diseases. It’s headed by Vicente Anido, who has a long history with Irvine-based ophthalmic drugmakers, including Allergan Inc. (now Allergan PLC) and Ista Pharmaceuticals Inc., which was acquired by Bausch & Lomb (now part of Canada’s Valeant Pharmaceuticals International Inc.) in 2013.
Aerie got a boost in mid-September when it reported successful 90-day trial results for its Roclatan glaucoma drug candidate. The study demonstrated statistical superiority over each of the combination’s drug components, including fellow Aerie product candidate Rhopressa.
Anido said in a recent statement that the trial “clearly reconfirms the potential for Roclatan to become the most efficacious [intraocular pressure-lowering] therapy to enter the market if approved.” He added that successful trials for Mercury 1 and Mercury 2 clinical trials would likely lead the company to file a new drug application with the Food and Drug Administration for Roclatan near the end of 2017.
Aerie submitted a new drug application with the FDA for Rhopressa in early September.
Investors have liked what they’ve seen—Aerie’s stock is up 50% or so since the start of the year, with a market value about $1 billion as of last week.
The drug developer followed its report on trial results with an announcement of a $125 million stock offering with various uses for its proceeds, including building a manufacturing plant in Ireland and planning Japanese clinical trials.
The company previously listed Bedminster, N.J., as its headquarters, where it maintains a significant presence.
Aerie emerged from Duke University research work in 2005 and also maintains offices in Research Triangle Park, N.C.
Finance Execs Honored
Fountain Valley-based MemorialCare Health System said that two of its financial executives are on a newly published list by trade publication Becker’s Hospital Review.
Becker’s named Karen Testman, the nonprofit company’s chief financial officer, as one of the nation’s 100 top hospital and health system chief financial officers.
Yair Katz, who is chief financial officer of MemorialCare’s Long Beach Memorial Medical Center, Miller Children’s & Women’s Hospital Long Beach and Community Hospital Long Beach, was named among Becker’s top rising stars, which is made up of chief financial officers younger than 40.
Testman has been with MemorialCare since 1998 and moved through the system in chief financial officer positions with Orange Coast Memorial Medical Center in Fountain Valley and Saddleback Memorial Medical Center in Laguna Hills before serving as system senior vice president, financial operations. She became system chief financial officer in 2013.
Katz joined MemorialCare last October after serving as assistant vice president and associate university controller for the University of Southern California, reviewing the operational and financial performance of its three hospitals each month.
Mission Gives Grants
Mission Hospital in Mission Viejo has awarded $1.3 million in grants to 12 nonprofit groups that provide services to what is considers vulnerable and underserved people in South County. The grants will be presented over the course of six months.
New Direction
One of the adages in life is that “all good things must come to an end.”
Here’s one of them—today’s column is my last one for the Business Journal.
I arrived here in June 2000 with no idea what to expect and relatively limited experience in covering the business of healthcare, having only started covering the beat regularly some time before at the Las Vegas Business Press.
Most of my experience was with the service sector of healthcare, particularly hospitals and health insurance. I also did quite a bit of public policy coverage.
I primarily did healthcare service coverage when I arrived, but an opportunity later came up for me to jump into the core of OC’s health experience—medical devices.
Those were fun times, and I must thank the companies and executives who were very patient with me, answered my questions, and told their stories.
I thank the Business Journal for giving me this opportunity all these many years to share the story of Orange County’s healthcare industry. Your kindness and patience with me is much appreciated.
And finally, thank you to my readers and contributors for helping me along this journey, which lasted more than 16 years. You are welcome to drop a line at vita.reed@gmail.com.
