Mr Price will begin working at Cornerstone from September 8, 2008. He is currently serving as a managing director with Jefferies and leads its pharmaceutical services division. In this role, Mr Price has provided investment banking advice to various specialty pharmaceutical companies, including Cornerstone, and has been Jefferies’s lead representative in connection with Cornerstone’s proposed merger with Critical Therapeutics.
Announced in May 2008, Cornerstone’s merger with the publicly held Critical Therapeutics is targeted to close in the fourth quarter of 2008.
Craig Collard, president and CEO of Cornerstone, said: “In addition to traditional financial duties, Price will be invaluable in helping guide Cornerstone’s transition into a publicly traded company. We’re pleased to have David’s talent and efforts supporting our executive team as well as our new stockholders.”