MISSISSAUGA, ON, Nov. 22, 2017 /PRNewswire/ – Nuvo Pharmaceuticals Inc. (Nuvo or the Company) (TSX:NRI), a commercial healthcare company with a portfolio of commercial products and pharmaceutical manufacturing capabilities, today announced the appointment of Jesse Ledger as its President & Chief Executive Officer. Mr. Ledger was previously President of the Company. Mr. Ledger assumes the CEO role from John London who will become the Company’s Executive Chairman and continue to serve on its board of directors. Dan Chicoine, previously Chairman of the Company, will continue as a member of the board. The appointment of Mr. Ledger is the final step in a CEO succession plan adopted by the Nuvo board of directors in 2016.
“We are pleased that Jesse will assume this new leadership role at Nuvo,” said John London, Nuvo’s Executive Chairman. “Nuvo is well positioned for future growth based on our solid, profitable U.S. Pennsaid 2% franchise and a strong balance sheet that includes $17.7 million of cash (as of September 30 2017) and no debt. Jesse has proven himself to be a strong energetic leader with business development acumen and contacts and the drive to make Nuvo a bigger, more diversified and more profitable pharmaceutical company. We are proud of what we have achieved to-date at Nuvo and our board is confident that Jesse is the right leader to direct Nuvo through this next phase of its growth.”
“My goal is to make Nuvo a growth oriented pharmaceutical company through the expansion and diversification of our proprietary-product portfolio and the continued global expansion of our Pennsaid 2% business,” said Jesse Ledger, Nuvo’s President & CEO. “I look forward to leading our talented and motivated team in our collective pursuit of this strategic goal.”
Mr. Ledger has over 15 years of pharmaceutical experience with a proven expertise in business development. Prior to joining Nuvo in April of 2015, he was Vice President of Business Development and International Business at Tribute Pharmaceuticals Canada. Mr. Ledger holds an Honours Bachelor of Business Administration degree from Trent University.
About Nuvo Pharmaceuticals Inc.
Nuvo (TSX: NRI) is a commercial healthcare company with a portfolio of commercial products and pharmaceutical manufacturing capabilities. Nuvo has three commercial products that are available in a number of countries; Pennsaid 2%, Pennsaid and the heated lidocaine/tetracaine patch. Pennsaid 2% is sold in the U.S. by Horizon Pharma plc (NASDAQ: HZNP) and is available