MannKind Resolves All Claims in Arbitration with Former Employee
VALENCIA, Calif.--(BUSINESS WIRE)--Dec. 13, 2011--
MannKind Corporation (Nasdaq: MNKD) announced today that it
reached a final resolution of the arbitration proceedings initiated by
John Arditi, MannKind’s former Senior Director - GCP - Regulatory
Affairs. During his employment with MannKind, Mr. Arditi played a key
role in preparing clinical sites for FDA inspection and was responsible
for the company’s GCP compliance audit program.
In connection with the resolution of the matter, Mr. Arditi withdrew his
claims against MannKind for violation of the New Jersey Conscientious
Employee Protection Act, wrongful discharge, breach of contract, breach
of the implied covenant of good faith and fair dealing, intentional
infliction of emotional distress and defamation. In return, MannKind
withdrew its claims against Mr. Arditi. Neither party paid any monetary
consideration to the other party in connection with the resolution of
the arbitration proceedings.
“I do not believe there was fraud or scientific misconduct on the part
of investigators nor do I believe there is any question regarding the
reliability and integrity of the data collected in MannKind’s clinical
trials while I was employed. I am proud that I was part of a team that
achieved full GCP compliance with respect to the AFREZZA new drug
application during my employment,” said Mr. Arditi.
Alfred Mann, Chairman and Chief Executive Officer of MannKind, added,
“Peter Richardson, Patricia Mayer and the entire team set extremely high
standards for quality in our earlier clinical program, and then exceeded
those standards in a professional and diligent manner. I have been
emphasizing the importance of getting our current Phase 3 clinical
studies underway in a timely manner, but I do so knowing that we have an
unwavering commitment to quality.”
About AFREZZA®
AFREZZA® is a novel, ultra rapid acting mealtime insulin therapy being
developed by MannKind Corporation for the treatment of adult patients
with type 1 or type 2 diabetes for the control of hyperglycemia. It is a
drug-device combination product, consisting of AFREZZA Inhalation Powder
pre-metered into single use dose cartridges and the light, discreet and
easy-to-use AFREZZA Inhaler. Administered at the start of a meal,
AFREZZA dissolves immediately upon inhalation and delivers insulin
quickly to the blood stream. Peak insulin levels are achieved within 12
to 14 minutes of administration, mimicking the release of meal-time
insulin observed in healthy individuals. To date, the AFREZZA clinical
program has involved 56 different studies and over 5,300 adult patients.
About MannKind Corporation
MannKind Corporation (Nasdaq: MNKD) focuses on the discovery,
development and commercialization of therapeutic products for patients
with diseases such as diabetes and cancer. Its lead product candidate,
AFREZZA®, is in late stage clinical investigation for the treatment of
adults with type 1 or type 2 diabetes for the control of hyperglycemia.
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Source: MannKind Corporation
MannKind Corporation
Matthew Pfeffer
Chief Financial Officer
661-775-5300
mpfeffer@mannkindcorp.com