ATHLONE, Ireland & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Innocoll Holdings Limited, a specialty pharmaceutical company wholly owned by Gurnet Point Capital, a private investment firm focused on health care, today announced that Louis Pascarella has been named the company’s Chief Executive Officer and a member of Innocoll’s Board of Directors. Pascarella, who will retain his current role of President, succeeds Rich Fante, who is stepping down after a successful tenure as CEO and has agreed to serve as an adviser to Innocoll’s Board for at least the next year to ensure a smooth transition.

Pascarella joined Innocoll as President in October 2020 after having served as the U.S. Head of Commercial Operations at Novo Nordisk. He has nearly 25 years of industry experience having successfully launched numerous pharmaceutical and device brands covering myriad therapeutic areas. Prior to his role at Novo Nordisk, he held several senior roles at Decision Resources Group and Janssen, a Johnson & Johnson company, where he worked for more than 20 years. Pascarella holds a Bachelor of Science in Psychology and Business from Albright College and an MBA from the NYU Stern School of Business.

“Louis’ decades of industry experience and proven track record of creating and executing development and commercialization strategies make him the ideal leader for the next stage of Innocoll’s growth,” said Dave Moore, Partner at Gurnet Point Capital. “His long-term vision will drive Innocoll’s growth during this transformative time and position Innocoll to continue delivering meaningful impact for hospitals, physicians and patients through Innocoll’s pipeline of pharmaceutical solutions. We thank Rich for leading the successful FDA approval of XARACOLL® and look forward to continue benefiting from his guidance as an adviser.”

“I am honored to assume this role and look forward to continue working closely with the entire Innocoll team during this exciting next stage of our growth. We will continue to drive the success of our innovative drug-device XARACOLL®, build our business development function and maximize value from our impressive collagen IP portfolio to help solve today’s most important challenges in acute care for patients worldwide,” said Pascarella.

“Innocoll has assembled a talented, hard-working team who share my mission of innovating the hospital industry, bringing products to market that provide better outcomes for patients and enhancing efficiency for physicians and hospitals. I look forward to building upon Innocoll’s strong foundation as we enter our next chapter of growth,” Pascarella added.

Fante stated, “It has been an honor to lead Innocoll through the FDA approval process. I look forward to working closely with Louis and the Innocoll Board and seeing what the company will accomplish during this exciting time of growth.”

About XARACOLL®

XARACOLL is a bioresorbable collagen implant providing postsurgical pain relief through the delivery of bupivacaine, a local anesthetic, at the surgical site. XARACOLL implant releases bupivacaine after placement at the surgical site through diffusion from the porous collagen implant, which dissolves over time. XARACOLL is a registered trademark of Innocoll Pharmaceuticals Limited.

About Innocoll Holdings Limited

Innocoll Holdings Limited is a global specialty pharmaceutical company headquartered in Athlone, Ireland, with a strong presence in the Boston-Cambridge innovation hub of the United States. Innocoll Holdings Limited and its subsidiary, Innocoll Pharmaceuticals Limited, are focused on the development and commercialization of pharmaceutical technologies to meet some of today’s most important healthcare challenges. Innocoll Holdings Limited is a portfolio business of Gurnet Point Capital. www.innocoll.com

About Gurnet Point Capital

Gurnet Point Capital is a unique healthcare fund founded by Ernesto Bertarelli and led by Christopher Viehbacher, who, together, have decades of expertise in an industry for which they share a passion, both as Chief Executives and as investors. With an initial allocation of $2 billion, GPC is investing long-term capital and supporting entrepreneurs in building a new generation of companies. Based in Cambridge, Mass., its remit is global, encompassing life sciences and medical technologies. The fund invests across all stages of product development through to commercialization and does so with an approach that is a hybrid of venture and private equity investing strategies. www.gurnetpointcapital.com.