WESTLAKE, Texas, Dec. 4 /PRNewswire-FirstCall/ -- MiddleBrook
Pharmaceuticals, Inc. (Nasdaq: MBRK), 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 www.middlebrookpharma.com.
About MiddleBrook Pharmaceuticals:
MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK) 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 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.
