LOS ANGELES – July 24, 2012 – Ritter Pharmaceuticals, Inc. (Ritter Pharma) has appointed Michael Step to its Board of Directors. Mr. Step brings over 20 years of corporate development experience in the biotechnology and pharmaceutical industry. His knowledge and ties into the gastrointestinal field further strengthens the leadership at Ritter Pharma as it continues to build its presence in gastroenterology. Mr. Step will serve as an independent director and will assist in developing and maintaining strategic relationships, corporate business development activities, as well as provide guidance in all aspects of the pharmaceutical lifecycle.
“We are pleased to have Mike join Ritter Pharma’s Board of Directors,” said Ritter Pharma’s President and Chief Executive Officer, Andrew Ritter. “Mike’s enthusiasm and forward thinking will add a unique perspective to help drive our strategic path forward. We are looking forward to Mike’s participation and his valuable guidance.”
Mr. Step commented, “I am appreciative of the opportunity to join Ritter Pharmaceuticals’ Board of Directors. The company is well positioned having just completed a successful Phase 2 clinical trial for a lactose intolerance treatment, and I look forward to being a part of the future at Ritter Pharma.”
In addition to his position on the board, Mr. Step is the Senior Vice President of Corporate Development at Santarus. Prior to joining Santarus, he was Vice President, Corporate Development for Amylin Pharmaceuticals and Senior Director, Business Development at Dura Pharmaceuticals. In these roles, he was primarily responsible for leading corporate development activities, including product licensing, strategic planning, and mergers and acquisitions evaluations. Mr. Step holds a B.A. in political science from Vanderbilt University and an M.B.A. from the University of Southern California.
RP‐G28 has the potential to become the first FDA‐approved drug for the treatment of lactose intolerance. RP‐G28 is a proprietary oligosaccharide that is orally administered for a set treatment period. The effect of RP-G28 is to induce a change in colon microbe populations which enables lactose digestion. After a single treatment cycle, patients experience a sustained ability to consume dairy products.
About Lactose Intolerance
Lactose intolerance is a common gastrointestinal condition often causing debilitating and painful symptoms from the consumption of dairy products. Globally, over 1 billion people are lactose intolerant, 39 million of whom are estimated to live in the United States. People with lactose intolerance have insufficient lactase, the enzyme lining the small bowel and responsible for breaking down lactose (“milk sugar”). The result is one or more gastrointestinal symptoms; including abdominal pain, cramps, bloating, gas, and/or diarrhea following the ingestion of lactose-containing foods.
About Ritter Pharmaceuticals, Inc
Ritter Pharma is a specialty pharmaceutical company developing therapeutics based upon colonic adaptation to treat gastrointestinal diseases with an initial focus on lactose intolerance. Ritter Pharma is rapidly establishing itself as a world’s leader in lactose intolerance research. For additional information, please visit www.RitterPharma.com.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the clinical development of Ritter’s drug candidate, RP-G28, and RP-G28’s potential to treat the symptoms associated with lactose intolerance. Words such as “intended”, “potential” and similar words and expressions identify forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Ritter that any of its plans will be achieved. Future results can be affected by inaccurate assumptions and by known or unknown risks and uncertainties. For example, statements relating to Ritter’s ongoing clinical trials may turn out to be wrong because, among other things, Ritter’s product candidates may prove to be ineffective and planned studies could be delayed as a result of actions by third parties upon whom Ritter relies or Ritter’s own lack of financial resources. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Ritter undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.