Insmed appoints McGirr to board of directors

Insmed said Friday that it has named David W.J. McGirr to its board of directors. The former former CFO of Cubist Pharmaceuticals, McGirr will also serve as the chairman of Insmed’s audit committee. Currently, he is senior advisor to the CEO of Cubist. Before his work at Cubist, McGirr worked at S.G. Warburg Group, where he served in a variety of positions, ultimately as CFO, chief administrative officer and managing director of S.G. Warburg & Co. Headquartered in Monmouth Junction, NJ, Insmed is a biopharmaceutical company focused on treating serious lung diseases.

PRESS RELEASE

MONMOUTH JUNCTION, NJ–(Marketwired – Nov 1, 2013) – Insmed Incorporated (NASDAQ: INSM), a biopharmaceutical company focused on developing an inhaled anti-infective to treat patients battling serious lung diseases in orphan indications that are often life-threatening, today announced the appointment of David W.J. McGirr to its Board of Directors. Mr. McGirr, former Chief Financial Officer of Cubist Pharmaceuticals, Inc. will also serve as the Chairman of Insmed’s Audit Committee.
Mr. McGirr has more than 30 years of experience as a senior financial executive including the past 11 years at Cubist, a biopharmaceutical company focused on the research, development, and commercialization of pharmaceutical products that address significant unmet medical needs in the acute care environment, primarily for the treatment of infectious diseases. During his tenure at Cubist, the company secured a number of product approvals and launched these products across multiple markets.
In conjunction with Mr. McGirr’s appointment, the Board accepted Richard Kollender’s resignation from the Board and as Chairman of the Audit Committee. As a result, the Insmed Board will continue to consist of seven directors, six of whom are independent.
“We are delighted to welcome David to the Insmed Board. He brings a unique combination of skills, including public company and board experience, capital markets insight and significant expertise in the healthcare sector, specifically with infectious diseases. His background is ideally suited to help guide the Insmed team in building a commercial biopharmaceutical company with a franchise of novel therapies at the intersection of orphan, pulmonary, and infectious diseases,” stated Donald J. Hayden, Jr., Chairman of the Board of Insmed. “We would also like to thank Rich Kollender, who served as our Chair of the Audit Committee, for his many years of valuable service to our company. Rich was an integral member of the team that helped navigate ARIKACE® through its earlier stages of development and he played a key role in its acquisition by Insmed.”
In accepting this appointment Mr. McGirr stated, “This is an exciting time to be joining Insmed as the company is transitioning to a commercial entity. Insmed has valuable, late-stage clinical assets, an experienced senior leadership team, a strong financial position and a sound business plan. I look forward to working with the Insmed Board and management to further the company’s strategic objectives to become an industry leader.”
Prior to his current role as Senior Advisor to the CEO of Cubist, Mr. McGirr served as the company’s Senior Vice President and CFO for more than ten years. Before this, Mr. McGirr was a private equity investor and served in various positions within the S.G. Warburg Group, ultimately as CFO, Chief Administrative Officer and Managing Director of S.G. Warburg & Co., Inc. Mr. McGirr is a member of the Board of Directors of Relypsa, Inc., a Redwood City, California-based biotechnology company, where he also serves as Chairman of the Audit Committee. Mr. McGirr received a B.Sc. (First Class Honors) in Civil Engineering from the University of Glasgow and an MBA from The Wharton School at the University of Pennsylvania.
About Insmed
Insmed Incorporated is a biopharmaceutical company dedicated to improving the lives of patients battling serious lung diseases. Insmed is focused on the development and commercialization of ARIKACE®, or liposomal amikacin for inhalation, for at least two identified orphan patient populations: cystic fibrosis (CF) patients with Pseudomonas aeruginosa lung infections and patients with non-tuberculous mycobacteria (NTM) lung infections. For more information, please visit http://www.insmed.com.