RECRO Announces David Enloe Named President and Chief Executive Officer

MALVERN, Pa., Dec. 16, 2020 (GLOBE NEWSWIRE) — Recro (Nasdaq:REPH), a leading contract development and manufacturing organization (CDMO), with integrated solutions for formulation, analytical services, regulatory support, manufacturing and packaging of both commercial and development stage oral solid dose drug products, today announced that David Enloe has been named President, Chief Executive Officer and a member of the Company’s Board of Directors, replacing Gerri Henwood, effective today.

Mr. Enloe brings over two decades of executive leadership experience in biotechnology, clinical drug development and GMP manufacturing to Recro, with a proven track record of building and growing CDMO businesses. Most recently, he served as President and Chief Executive Officer of Ajinomoto Bio-Pharma Services, a global, fully integrated CDMO.  Under Mr. Enloe’s leadership, Aji Bio-Pharma’s revenues have increased over 50% in a four-year period and he led the expansion of service offerings and creation of a single business model focused on improving operations across the organization’s multiple global entities and locations.

Wayne B. Weisman, Chairman of the Board of Recro commented: “David has a demonstrable history of success in building CDMO businesses, forming strategic partnerships and leading global organizations. He has also played a pivotal role in the successful growth and development of many innovation-driven companies. We anticipate that the Board’s appointment of David as CEO will allow Recro to leverage the Company’s operations, assets, talent and business partners. We sincerely thank Gerri for her service to the Company these past five years and wish her much success as the CEO of Baudax Bio, Inc.”

“Recro is an exciting innovation story, with a lot of potential for strategic growth, particularly in the areas of commercial manufacturing of complex solid oral dose form therapeutics, as well as drug product formulation and development services, high potency drug products and clinical trials drug supplies and logistics,” said Mr. Enloe. “Our CDMO business has clear strengths versus competitors, and we have a terrific team of engaged, motivated people. I look forward to leading the Recro team as we refine and implement strategies designed to address our many promising opportunities and create value for all of our stakeholders.”

Mr. Enloe was selected after interviewing several well-qualified candidates that were identified during an extensive search conducted by the Board of Directors in conjunction with the executive search firm Heidrick & Struggles.

“I am honored to have served as Recro’s President and Chief Executive Officer and I would like to thank the Board and the management team,” said Ms. Henwood. “It has been a privilege to work with all of the Recro employees and I believe we have done tremendous work together, including transforming the business to be a provider of expanded high-value CDMO services. Recro has a bright future and I look forward to seeing its continued success under David Enloe.”

While at Ajinomoto, Mr. Enloe was awarded “Most Admired CEO” in 2017 by the San Diego Business Journal. This award recognized David for leading the company through a phase of significant growth while fostering several innovation initiatives and creating company stability and scalability.  Before joining Ajinomoto, Mr. Enloe served as Head of Lonza’s Viral Therapeutics Business Unit, which was the result of Lonza’s acquisition of Vivante GMP Solutions, a gene therapy CDMO that Mr. Enloe founded in June 2009 and where he served as President and CEO until its sale to Lonza AG. Under Mr. Enloe’s leadership, the business experienced rapid expansion, with revenues increasing 500% over a three-year period.   Preceding Vivante, Mr. Enloe spent 14 years with biotech company, Introgen Therapeutics, joining as its first employee in 1995 and spending several years as Senior Vice President and COO before ultimately being named President and CEO. In addition to helping start Introgen, Mr. Enloe was an integral part of taking that company through a successful IPO in 2000, as well as several other financial events. In addition, Mr. Enloe oversaw multiple large corporate and academic collaborations, as well as the filing of license applications with both the FDA and European regulatory authorities of Introgen’s lead product. Mr. Enloe received a Bachelor of Business Administration, Accounting from the University of Texas at Austin. He is a Certified Public Accountant and started his career in public accounting with Arthur Andersen & Co.

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