Zogenix Names Ann Rhoads CFO After Product Release
VentureWire
By Staff Reporters
Pharmaceutical company Zogenix Inc. has appointed Ann D. Rhoads, a former venture capitalist and health care executive, as its chief financial officer shortly after the U.S. launch of its needle-free drug delivery system.
Rhoads most recently was CFO and senior vice president of Premier Inc. Prior to a promotion from vice president for strategic initiatives, she oversaw strategic investments for Premier, including a $30 million venture capital fund, Zogenix said.
Before joining Premier in 1998, she held various positions at Sprout Group, Donaldson, Lufkin & Jenrette (now part of Credit Suisse First Boston), Bain & Co. and Merrill Lynch Capital Partners (now Stonington Partners).
Rhoads joins Zogenix less than two months after it launched its needle-free drug delivery system, Sumavelt DosePro, in conjunction with Astellas Pharma U.S. Inc. It also plans to license the system to other companies.
Zogenix said its pipeline includes ZX002, an oral controlled-release formulation of hydrocodone without acetaminophen for the treatment of chronic pain. That drug is preparing to enter Phase III clinical trials, the company said.
With offices in Emeryville, Calif., and San Diego, Zogenix has raised at least $150 million in equity, most recently increasing its Series B financing to $71 million in December. Investors include Abingworth Management, Chicago Growth Partners, Clarus Ventures, Domain Associates, Oxford Finance Corp., Scale Venture Partners and Thomas McNerney & Partners.