On Monday NovaDel announced Steven B. Ratoff has been appointed as President and Chief Executive Officer effective January 1, 2010. Mr. Ratoff has extensive experience and is fit for the position.
“With two products, ZolpiMist™ and NitroMist™, scheduled to enter the marketplace later this year and the acceleration of our promising product development program, we have reached an exciting point in our company’s development and I am pleased to continue leading this effort.” Mr. Ratoff added, “During the second half of 2009, the Company strengthened its balance sheet with proceeds received on closing two strategic licensing deals and the recently announced debt conversion.”
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ABOUT NOVADEL PHARMA
NovaDel Pharma Inc. is a specialty pharmaceutical company developing oral spray formulations for a broad range of marketed drugs. The Company’s proprietary technology offers, in comparison to conventional oral dosage forms, the potential for faster absorption of drugs into the bloodstream leading to quicker onset of therapeutic effects and possibly reduced first pass liver metabolism, which may result in lower doses. Oral sprays eliminate the requirement for water or the need to swallow, potentially improving patient convenience and adherence.
NovaDel’s oral spray technology is focused on addressing unmet medical needs for a broad array of existing and future pharmaceutical products. The Company’s most advanced oral spray candidates target cardiovascular and central nervous system disorders. NovaDel plans to develop these and other products independently and through collaborative arrangements with pharmaceutical and biotechnology companies.
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