NEW YORK--(BUSINESS WIRE)-- Synergy Pharmaceuticals Inc. (NASDAQ:SGYP), a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies, today announced that Troy Hamilton, Pharm.D., previously Executive Vice President, Chief Commercial Officer, has been appointed Chief Executive Officer, effective immediately. Gary S. Jacob, Ph.D., previously President, CEO and Chairman, has assumed the position of Executive Chairman of the Board of Directors.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171219005682/en/ Troy Hamilton, Pharm.D., Chief Executive Officer, Synergy Pharmaceuticals Inc. (Photo: Business Wire)

Mr. Hamilton joined Synergy in July 2015, and has since been responsible for building and implementing the company’s commercialization infrastructure and strategy for the launch of its first product, TRULANCE®. He has over 21 years of experience in the pharmaceutical industry, with an emphasis on general management, commercialization, partnerships, acquisitions, and global product launches in the gastroenterology and primary care markets. Prior to joining Synergy, Mr. Hamilton held multiple commercial leadership roles over a nine year period within the GI Business Unit at Shire Pharmaceuticals. Before Shire, he spent most of his career at Johnson & Johnson's Janssen Pharmaceuticals and McNeil Specialty Products in a number of leadership roles.

“It has been a privilege to work alongside the Synergy team from discovery and development of our uroguanylin-based GI platform to the commercialization of our first product earlier this year,” said Dr. Jacob. “Troy is a seasoned leader with extensive experience managing commercial operations and bringing cross functional teams together to achieve outstanding results. He understands all aspects of our corporate strategy and what we must do in order to continue to be successful moving forward. Troy was a natural choice for this role and the Board and I are confident that he is the right person to lead the company to its next phase of growth and success. With Troy as CEO, supported by his excellent and tenured commercial leadership team, Synergy is well positioned to maximize TRULANCE and capitalize on our significant market opportunities.”

“As co-founder of Synergy and co-inventor of TRULANCE, Gary has been instrumental in leading the company to where it is today – a fully integrated commercial organization – and we thank him for his continued dedication to the company,” said Mr. Hamilton. “I am excited to assume my new role and to continue working alongside the talented and dedicated management team and employees at Synergy, and grateful to our Board for this opportunity. We believe the investments we have made, along with the continued execution of our commercial strategy, have allowed us to drive early customer demand for TRULANCE in CIC and achieve expanded market access heading into 2018. We expect to build on this momentum as we move towards the PDUFA date for TRULANCE in IBS-C on January 24, 2018 and look to accelerate further growth.”

“One of my initial areas of focus will be to work with our CFO, Gary Gemignani, and the Synergy management team to continue to refine our business plan and focus on achieving cost efficiencies throughout the company while prioritizing investments that will drive significant TRULANCE growth,” added Mr. Hamilton. “As we move into 2018, we will continue to evaluate all strategic and business development opportunities to maximize the value of TRULANCE and leverage our commercial infrastructure, remaining focused on delivering long-term value for patients, healthcare providers and our shareholders.”

About Synergy Pharmaceuticals Inc.

TRULANCE Important Safety Information

Indications and Usage

TRULANCE is a guanylate cyclase-C (GC-C) agonist indicated in adults for the treatment of chronic idiopathic constipation (CIC).

Trulance™ is contraindicated in patients less than 6 years of age; in nonclinical studies in young juvenile mice administration of a single oral dose of plecanatide caused deaths due to dehydration. Use of Trulance should be avoided in patients 6 years to less than 18 years of age. The safety and efficacy of Trulance have not been established in pediatric patients less than 18 years of age.

Warnings and Precautions

Risk of Serious Dehydration in Pediatric Patients
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