RVINE, Calif.– IACTA Pharmaceuticals, Inc. (IACTA), an innovation leader in ophthalmic therapeutics, today announced the appointment of Yogesh Bahl as Chief Financial Officer (CFO) and Eric Carter, M.D., Ph.D., as Chief Medical Officer (CMO).
“I’m delighted to welcome Yogesh and Eric to the IACTA team as we embark on the exciting development of our ophthalmic pipeline, which includes two novel drug candidates, respectively in ophthalmic pain and dry eye disease,” said Damon Burrows, Chief Executive Officer of IACTA Pharmaceuticals. “Yogesh’s strategic and financing experience will be invaluable as we thoughtfully fund our company’s growth. Eric meanwhile, will be responsible for overseeing the development of our drug candidates into and through the clinic. All told, I believe IACTA has the right team in place to bring these much-needed ophthalmic innovations to the underserved patients who need them.”
Yogesh Bahl brings over 25 years of pharmaceutical experience in strategy, finance, accounting, audit, and risk management. Mr. Bahl previously served as Managing Director at AlixPartners, a global professional services firm where he co-led the Healthcare & Life Sciences practice, improving operations and profitability, serving as a financial expert, and conducting due diligence for private equity firms and corporations. Additionally, he was a leader of the firm’s Diversity & Inclusion efforts.
“I am excited to be joining such a seasoned team of ophthalmic executives,” said Yogesh Bahl, Chief Financial Officer of IACTA Pharmaceuticals, “In my opinion, the combined sector experience of IACTA’s management, in addition to the strength of its development pipeline, are what differentiates the company from its peers. I look forward to helping IACTA achieve its full potential in the months and years to come.”
Prior to AlixPartners, Mr. Bahl served as a Partner in the financial advisory business at Deloitte, where he worked from 1997-2014 and led the U.S. Life Sciences practice of that business for three years. At Deloitte, he worked with pharmaceutical companies of all sizes to conduct financial audits, perform investigations, improve compliance programs, manage corporate transactions, analyze commercial operations, and evaluate supply chain integrity.
Mr. Bahl holds an MBA in finance and statistics and a bachelor’s degree in accounting and international business from New York University’s Stern School of Business. He is a certified public accountant in the State of New York.
“The depth and breadth of IACTA’s pipeline was one of the key factors in my decision to join the company. I’m particularly excited by the prospect of IC 800 as a potentially broad-use, novel, non-opioid, ocular pain treatment, given the poor efficacy and safety concerns surrounding existing NSAID therapies for acute ocular pain,” said Eric Carter, M.D., Ph.D., Chief Medical Officer of IACTA Pharmaceuticals. “In addition, I believe IACTA’s SYK kinase inhibitor, IC 265, has great potential with an MOA that targets the critical starting point in activation of the inflammatory/immune cascade in dry eye. I look forward to providing updates on our clinical progress as we seek to bring these, and other, novel therapeutics to patients.”
Eric Carter, M.D., Ph.D. has over 20 years of experience as both a physician and pharmaceutical industry executive, specializing in research and development as well as commercialization across multiple therapeutic areas. Dr. Carter previously served as Senior Vice President, Chief Medical Officer, Global Head of Clinical and Non-clinical Development of Allergan, Inc. from 2011 through its acquisition by Actavis Pharmaceuticals in 2015, where he led preclinical and global clinical development and operations in ophthalmology, dermatology, urology, CNS, and plastic surgery. Dr. Carter led Allergan through 11 drug candidate approvals during his tenure.
Prior to Allergan, Dr. Carter served as Chief Science Officer, Head of R&D and Chief Medical Officer of King Pharmaceuticals from 2007 until the company was acquired by Pfizer in 2011. Prior to King, Dr. Carter worked for Glaxo Wellcome and GSK where he held positions of increasing responsibility in global clinical development and medical affairs. Dr. Carter began his medical career at the University of North Carolina, Chapel Hill where he held board certifications in Internal Medicine, Gastroenterology and Hepatology and Clinical Nutrition.
Dr. Carter currently serves as Chairman of the Scientific Advisory Board of AEON Biopharma and serves on the Board of Directors of Bioniz Therapeutics. He received his M.D. from the University of Miami, FL and his Ph.D. from the University of Cambridge, England.
Mr. Bahl and Dr. Carter join a seasoned team of executives who include Steve Johnson (Chief Operating Officer and ex-Allergan Vice President), Orest Olejnik (Chief Scientific Officer and ex-SVP Global Pharmaceutical Sciences at Allergan), George Ng (Chief Business Officer and ex-President, Business for Scilex Pharmaceuticals) and William Pedranti (Chief Administrative Officer and ex-President, Operations for Scilex Pharmaceuticals).
