BRIDGEWATER, N.J., June 06, 2017 (GLOBE NEWSWIRE) -- Valeritas Holdings, Inc. (NASDAQ:VLRX) today announced the appointment of Peter J. Devlin to chairman of the Company’s Board of Directors, effective as of June 6, 2017. In addition to this new role, Mr. Devlin will continue to serve as chairman of the Compensation Committee of the Board of Directors.
“Peter has been providing invaluable guidance to our management team since joining the Board of Directors in June 2016,” said John Timberlake, President and Chief Executive Officer of Valeritas. “Now, as the first chairman of Valeritas since we became a public company, he will be able to further expand his contributions to the Company across all functions.”
Mr. Devlin commented, “Valeritas’ V-Go® Wearable Insulin Delivery Device is emerging as a key tool for people living with type 2 diabetes by allowing them to simplify insulin therapy while improving their blood glucose control with the use of less insulin compared to insulin pens and syringes. With the Company’s commercial plan in place, I am looking forward to continuing to work with the management team and my colleagues on the Valeritas board to successfully execute the plan, drive the product’s success in the marketplace and create value to all shareholders.”
Mr. Devlin served Valeritas as a member of its Board of Directors since June 2016 and as the chairman of the Board’s Compensation Committee since December 2016. From August 2009 to September 2014, Mr. Devlin was the chief commercial officer at Insulet Corporation, a manufacturer of diabetes insulin device products, where he was responsible for the company’s worldwide commercial operations. Prior to joining Insulet, Mr. Devlin held several leadership roles in the global diabetes business at Abbott Laboratories, Inc. from 2002 to 2009. Mr. Devlin received his Bachelor of Science degree from the University of Massachusetts.
About Valeritas, Inc.
Valeritas is a commercial-stage medical technology company focused on improving health and simplifying life for people with diabetes by developing and commercializing innovative technologies. Valeritas’ flagship product, V-Go® Wearable Insulin Delivery device, is a simple, wearable, basal-bolus insulin delivery device for patients with type 2 diabetes that enables patients to administer a continuous preset basal rate of insulin over 24 hours. It also provides discreet on-demand bolus dosing at mealtimes. It is the only basal-bolus insulin delivery device on the market today specifically designed keeping in mind the needs of type 2 diabetes patients. Headquartered in Bridgewater, New Jersey, Valeritas operates its R&D functions in Shrewsbury, Massachusetts. For more information, please visit www.valeritas.com.
