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DURECT Announces Changes to its Board of Directors
Date:9/27/2013

CUPERTINO, Calif., Sept. 27, 2013 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX) today announced that Jay Shepard will join its Board of Directors effective September 26, 2013.  Separately, Michael Casey has made the decision to retire from the Board of Directors effective December 31, 2013. 

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Mr. Shepard has over 30 years' experience in the pharmaceutical, biotechnology and drug delivery fields.  Mr. Shepard currently serves as an Executive Partner at Sofinnova Ventures.  From 2010 until 2012, he was President and CEO of NextWave Pharmaceuticals, a pediatric focused therapeutics company which was acquired in November 2012 by Pfizer in a deal valued up to $700 million shortly after NextWave obtained FDA approval for Quillivant XR, a treatment for Attention-Deficit Hyperactivity Disorder (ADHD).  While serving at NextWave, Mr. Shepard maintained a strategic adviser relationship with Sofinnova Ventures, which he joined in 2008 as an Executive in Residence.  Prior to Sofinnova Ventures, Mr. Shepard was President and CEO of Ilypsa, a nephrology therapeutics company acquired by Amgen for $420 million.  He then helped with Ilypsa's spin-out company, Relypsa, serving as interim President and CEO.  Before Ilypsa, Mr. Shepard served as Vice President, Commercial Operations at Telik, where he was responsible for all activities related to market preparation toward the launch of the company's lead oncology compounds.  Previously, he was Vice President of ALZA Pharmaceuticals' Oncology Business Unit, having held leadership positions of increasing responsibility in the establishment and operation of ALZA's spec
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