Nonprescription Drugs Advisory Committee Chairman Alastair Wood, MD, will depart NDAC in May and take a position at New York-based private equity firm Symphony Capital, the company announced May 1.

Wood's term as chairman of the committee concludes May 31, marking his departure from involvement with the OTC industry for the foreseeable future, he said.

Wood will assume his new position with Symphony in September. The firm invests in the clinical development of biopharmaceutical products to treat a wide variety of diseases, the firm noted.

Specifically, Symphony buys the developmental rights to drugs and then works with the biotechnology company to fund and supervise their development, Wood explained. The company may then buy back the rights to the drug after its development is complete.

The conclusion of Wood's position with NDAC coincides with his departure from his current position as Associate Dean, Attending Physician and Tenured Professor at Vanderbilt University School of Medicine (Nashville, Tennessee). His term at Vanderbilt will end at the close of the academic year, according to Symphony.

Wood will become one of four managing directors within Symphony Capital's investment team, joining company founders Mark Kessel, Neil Sandler and Harri Taranto in New York, the company said.

"I was attracted to Symphony Capital's investment model from the beginning because of the way it provides not only financial capital to fund drug development but also because of Symphony Capital's ability to deploy substantial expertise to enhance the development process for drugs in partnership with biotech companies," Wood stated in a release.

"I view the Symphony Capital model as a unique way to accelerate the drug development process while allowing the biotech companies to continue to build value for their shareholders."

During his tenure as NDAC chair, Wood presided over a number of significant advisory committee meetings, including the proposed Rx-to-OTC switch of GlaxoSmithKline's weight-loss drug Xenical in February (¹ Also see "Alli Sparks Reevaluation Of OTC Weight-Loss Indication" - Pink Sheet, 6 February, 2006., p. 6).

He also chaired the meeting on J&J/Merck's proposed Rx-to-OTC switch of the statin Mevacor , and the February 2005 meeting on the safety of COX-2 inhibitors and NSAIDs (² Also see "Mevacor Daily Regimen Compliance Questioned By FDA Committees" - Pink Sheet, 17 January, 2005., p. 5 and ³ Also see "Naproxen Could Serve As NSAID Safety Trial Standard, Advisory Panel Says" - Pink Sheet, 21 February, 2005., p. 3).

Other recent topics discussed under Wood's direction included a January meeting on the OTC availability of Wyeth's Primatene Mist inhaler, and an October meeting on log reduction criteria for consumer antiseptic products (⁴ Also see "Primatene Mist Availability Not “Essential,” Advisory Panel Says" - Pink Sheet, 30 January, 2006., p. 7 and ⁵ Also see "Antiseptic Log Reduction Criteria Should Stand, NDAC Recommends" - Pink Sheet, 28 March, 2005., p. 6).

Whether or not Wood will serve on any advisory committees in the future is "up to FDA," he said. However, he cannot foresee any conflicts of interest as Symphony does not deal with OTC products or drugs that are nearing FDA approval.

Wood joined NDAC in 2001 and was named as a possible candidate for the position of FDA Commissioner that same year. He previously served as a member of the Cardiovascular & Renal Drugs Advisory Committee.

In 2003, NDAC supported OTC status for Barr's emergency contraceptive Plan B - the committee's most important accomplishment under his leadership to date, according to Wood.

"But 'accomplished' may not be the correct verb," he added. "Because did it get approved? No, it didn't."

The NDAC chair has been involved with Symphony Capital since its inception in 2002, according to the firm. Initially involved in fundraising, Wood was named to the board of Symphony Neuro Development Company in June 2004.

Wood currently chairs Symphony's Clinical Advisory Council, a team of physicians experienced in clinical trials who assist in the evaluation of pharmaceutical products, according to the firm's website.

He is a director of Symphony Evolution and Symphony Neuro Development, which are dedicated to researching "novel therapeutics" for cancer and diabetic nephropathy and neurology, respectively.

Wood also serves as a member on the development committees for the firm's portfolio companies Symphony GenIsis and Symphony Dynamo.

He will retain these positions while serving as Managing Director, according to the firm.

- Melina Vissat

NDAC’s Wood Departs FDA Committee; Joins Private Investment Firm

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