LEXINGTON, Massachusetts & SYDNEY – April 30, 2013 – GI Dynamics, Inc. (ASX: GID) today announced the appointment of David Maggs, M.D. to the position of chief medical officer. In this role, Dr. Maggs will oversee clinical development and medical affairs for the Company’s lead product, EndoBarrier®, a breakthrough therapy for the treatment of type 2 diabetes and/or obesity.
“David brings a wealth of diabetes, metabolic disorders and medical affairs expertise to GI Dynamics, and we are thrilled to have him on board,” said Stuart A. Randle, president and CEO, GI Dynamics. “Having led multiple first-in-class clinical programs for diabetic therapies at Amylin, David’s knowledge of the diabetes treatment paradigm coupled with his product development expertise makes him an ideal fit for us. We look forward to working with him to drive deeper adoption of EndoBarrier Therapy globally, while also advancing our pivotal trial for EndoBarrier in the U.S.”
Prior to joining GI Dynamics, Dr. Maggs spent more than a decade at Amylin Pharmaceuticals where he held positions of increasing responsibility, led numerous innovative collaborations and was directly engaged with the global diabetes and endocrine community. Most recently, Dr. Maggs served as Amylin’s vice president, medical research and development, where he was integral to the development and commercialization of all three of the company’s marketed drugs – Symlin®, Bydureon® and Byetta®, the first amylin and GLP-1 receptor agonists respectively approved by the U.S. Food and Drug Administration for the treatment of diabetes. Prior to his Amylin tenure, Dr. Maggs served as director, diabetes and metabolism, for Parke-Davis (now Pfizer). Previously, he held faculty appointments at the Yale School of Medicine. Dr. Maggs grew up in the United Kingdom where he initially trained at Guy’s Hospital, London, and later completed his medical and endocrine training at the University of Nottingham.
“GI Dynamics is at the forefront of medical device innovation in the fight against the increasing diabetes epidemic,” said Dr. Maggs. “With EndoBarrier, they’ve developed a revolutionary medical device that has been shown in patients around the world to robustly improve glycemia while also promoting weight loss. By using devices to bridge the gap between medication and surgery, GI Dynamics is pioneering an entirely new approach to diabetes care. With the continued commercial expansion of EndoBarrier outside the U.S. and the increasing need from physicians for these types of novel approaches for their patients, it is an exciting time for the Company, and I am delighted to be joining the team.”
About GI Dynamics
GI Dynamics, Inc. (ASX: GID) is the developer and marketer of EndoBarrier®, a breakthrough device that represents an entirely new class of non-surgical, non-pharmaceutical therapy for the treatment of type 2 diabetes and/or obesity. EndoBarrier is approved and commercially available in multiple countries outside the U.S.; and GI Dynamics is conducting a pivotal clinical trial of EndoBarrier in the U.S. for the treatment of patients who have uncontrolled type 2 diabetes and are obese. Founded in 2003, GI Dynamics is headquartered in Lexington, Massachusetts. For more information, please visit www.gidynamics.com.
This announcement contains or may contain forward-looking statements that are based on management’s beliefs, assumptions and expectations and on information currently available to management. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements, including without limitation our expectations with respect to our ability to commercialize our EndoBarrier® including our estimates of potential revenues, costs, profitability and financial performance; our ability to develop and commercialize new products including our ability to obtain reimbursement for our products; our expectations with respect to our clinical trials, including enrollment in or completion of our clinical trials and our associated regulatory submissions and approvals; our expectations with respect to the integrity or capabilities of our intellectual property position. Management believes that these forward-looking statements are reasonable as and when made. You should not place undue reliance on forward-looking statements because they speak only as of the date when made. GI Dynamics does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. GI Dynamics may not actually achieve the plans, projections or expectations disclosed in forward-looking statements, and actual results, developments or events could differ materially from those disclosed in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, described in “Risk Factors” in our Prospectus lodged with the Australian Securities & Investments Commission on 3 August 2011.