LEXINGTON, Mass., December 2, 2014 /PRNewswire/ — scPharmaceuticals, Inc., a privately held biopharmaceutical company developing transformative pharmaceutical products for subcutaneous delivery, announced today that Leonard D. Schaeffer has been appointed to scPharmaceutical’s board of directors.
Mr. Schaeffer was the founding Chairman and CEO of WellPoint, the nation’s largest health benefits company by membership. He is currently the Judge Robert Maclay Widney Chair and Professor at the University of Southern California. Mr. Schaeffer is also active on the boards of numerous businesses, philanthropic and professional organizations including The Brookings Institute, Harvard Medical School, Quintiles Transnational Corporation, RAND Corporation and the University of Southern California. Mr. Schaeffer has served in the federal government as Administrator of the Health Care Financing Administration (HCFA), now Centers for Medicare and Medicaid Services (CMS), and Assistant Secretary for Management and Budget of the Department of Health and Human Services.
scPharmaceuticals is privileged to have one of the nation’s most influential healthcare leaders join its board of directors,” said Pieter Muntendam, President, CEO and founder of scPharmaceuticals and a member of its board of directors. “Mr. Schaeffer’s extraordinary experience in corporate and government sectors will be invaluable in guiding our company to establish the new paradigm of safer, more timely, and lower cost delivery of parenteral drugs. We appreciate his willingness to serve as a director of our company and we look forward to benefitting from his judgment and counsel.”
“Technology holds the key to concurrently improve quality and reduce the cost of medical care” said Mr. Schaeffer. “scPharmaceuticals is a company that was formed to improve outcomes for all stakeholders by creating a portfolio of new parenteral pharmaceutical products based on proven active ingredients. The ability to administer these anytime, anywhere by healthcare professionals, caregivers and patients can make an important contribution to improving care outcomes and reducing cost.”
scPharmaceuticals was founded in 2013 and received its series A institutional funding in 2014 from 5AM Ventures (Menlo Park, CA and Waltham, MA) and Lundbeckfond Ventures (Copenhagen, Denmark).
scPharmaceuticals, based in Lexington, MA, is privately held biopharmaceutical company developing a portfolio of transformative pharmaceutical products for subcutaneous delivery. The initial products are based on widely used generic drugs which now require intravenous or intramuscular injections. scPharmaceuticals' innovative products are administered using its proprietary patch pump device based on the revolutionary Swiss SenseCore technology. This breakthrough delivery system enables convenient and comfortable anytime anywhere administration of parenteral pharmaceuticals without the need for a healthcare professional to prepare and administer the medication. The scPharmaceuticals antibiotic products aim to avoid the use of PIC (Peripherally-Inserted Central) lines and associated risks, discomfort and costs. The scPharmaceuticals heart failure product aims to reduce utilization of emergency room and in-patient hospital services. For further information, go to www.scpharmaceuticals.com.
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