MannKind Expands Executive Leadership Team

Rhea-AI Summary

MannKind (MNKD) has appointed Dominic Marasco, RPh, as President of its Endocrine Business Unit, effective January 6, 2025. Marasco, who brings over 25 years of experience in biopharma and biotech sectors, will report to CEO Michael Castagna.

Marasco's most recent role was Executive President and Chief Commercial Officer at Envision Pharma Group, where he led technology and AI business units. His prior experience includes leadership positions at BioAgilytix Labs, Syneos Health, Amgen, Sandoz Biopharmaceuticals, and Eli Lilly. He holds a degree from the Philadelphia College of Pharmacy and completed Harvard Business School's Advanced Management Program.

The appointment aims to leverage Marasco's global experience to build upon Afrezza's positive clinical trial results and drive strategic growth in the company's endocrine business.

Positive

• Strategic hire with extensive commercial leadership experience in biopharma
• Addition of executive with proven track record in driving strategic growth
• Strengthening of leadership team with expertise in global markets

Negative

• None.

News Market Reaction

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-1.88% News Effect

On the day this news was published, MNKD declined 1.88%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

• Dominic Marasco, RPh, joins the company as President, Endocrine Business Unit, effective January 6, 2025
  

DANBURY, Conn. and WESTLAKE VILLAGE, Calif., Jan. 06, 2025 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD), a company focusing on the development and commercialization of innovative inhaled therapeutic products and devices for patients with endocrine and orphan lung diseases, announced today that Dominic Marasco, RPh, has joined the company as President, Endocrine Business Unit, effective January 6, 2025.

Mr. Marasco is a member of MannKind’s executive leadership team and reports to Michael Castagna, PharmD, Chief Executive Officer. “Dominic is an innovative leader recognized for driving strategic growth and operational excellence that will be transformative for our Endocrine Business Unit,” said Dr. Castagna. “As we continue to build upon the positive clinical trial readouts for Afrezza, Dominic’s global experience will be instrumental to our company’s future.”

Mr. Marasco joins MannKind with an accomplished track record of more than 25 years of driving commercial success in the biopharma and biotech sectors. He recently held the position of Executive President, Chief Commercial Officer for Envision Pharma Group, leading its technology and artificial intelligence business units and all commercial operations. Before joining Envision Pharma in February 2023, Mr. Marasco was Chief Commercial Officer at BioAgilytix Labs, Inc. from December 2019 until December 2022.

Prior to BioAgilytix, he was EVP, Global Business Development, Commercial Group at Syneos Health after serving in progressive leadership roles at Amgen, Inc. including Head of U.S. Sales for the Neuroscience Business Unit and before that Global Commercial Head, Amgen Biosimilars. Mr. Marasco also held successful commercial leadership roles at Sandoz Biopharmaceuticals, a Novartis Company, and Quintiles Transnational Holdings Inc (now IQVIA).

He began his career as a pharmacist before joining Eli Lilly and Company in a sales capacity. Mr. Marasco is a graduate of the Philadelphia College of Pharmacy and an alumnus of the Harvard Business School’s Advanced Management Program.

“The energy behind Afrezza and the momentum of MannKind’s pipeline is inspiring,” said Marasco. “I am excited to work with an innovative team that continues to push the boundaries of what’s possible in endocrine care and help more patients worldwide.”

About MannKind
MannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of innovative inhaled therapeutic products and devices to address serious unmet medical needs for those living with endocrine and orphan lung diseases.

We are committed to using our formulation capabilities and device engineering prowess to lessen the burden of diseases such as diabetes, nontuberculous mycobacterial (NTM) lung disease, pulmonary fibrosis, and pulmonary hypertension. Our signature technologies – dry-powder formulations and inhalation devices – offer rapid and convenient delivery of medicines to the deep lung where they can exert an effect locally or enter the systemic circulation, depending on the target indication.

With a passionate team of Mannitarians collaborating nationwide, we are on a mission to give people control of their health and the freedom to live life.

Please visit mannkindcorp.com to learn more, and follow us on LinkedIn, Facebook, X or Instagram.

Forward-Looking Statements
This press release contains forward-looking statements about the potential transformation of a business unit that involves risks and uncertainties. Words such as “believes”, “anticipates”, “plans”, “expects”, “intends”, “will”, “goal”, “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind’s current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the risk that the products we are commercializing may only achieve a limited degree of commercial success, and other risks detailed in MannKind’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent periodic reports on Form 10-Q and current reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

MANNKIND is a registered trademark of MannKind Corporation.

FAQ

When will Dominic Marasco start as President of MNKD's Endocrine Business Unit?

Dominic Marasco will start his role as President of MannKind's Endocrine Business Unit on January 6, 2025.

What is Dominic Marasco's most recent position before joining MNKD?

Before joining MannKind, Marasco served as Executive President and Chief Commercial Officer at Envision Pharma Group, leading its technology and artificial intelligence business units.

How many years of experience does MNKD's new Endocrine Business Unit President have?

Dominic Marasco brings over 25 years of experience in the biopharma and biotech sectors.

What is the strategic importance of Marasco's appointment for MNKD's Afrezza development?

Marasco's global experience is expected to be instrumental in building upon Afrezza's positive clinical trial readouts and driving strategic growth for the company.