ANNAPOLIS, Md., Feb. 19 /PRNewswire/ -- PharmAthene, Inc. today announced
that it has significantly expanded its management team to help meet its goal
of becoming the world's premier specialist in the prevention and treatment of
diseases associated with biological warfare.
David P. Wright, a 30 year veteran of the pharmaceutical and biotechnology
industries who was named President and Chief Executive Officer in September,
said the new team includes:
* James P. Lewkowski, Ph.D., Executive Vice President -- formerly with
Abbott Laboratories for 17 years in various management positions in the
immunoscience, thrombolytic, and antiviral ventures. Prior to joining
PharmAthene, Dr. Lewkowski directed the alliances with pharmaceutical
company partners for Gene Logic, Inc., a genomics database company.
* Valerie Riddle, M.D., Vice President and Medical Director -- former
Director of Medical Sciences of MedImmune, Inc. and former Vice
President of Clinical and Medical Affairs of Guilford Pharmaceuticals.
* Francesca Cook, Vice President, Policy & Government Affairs -- former
Vice President of Policy and Reimbursement Services for Guilford
Pharmaceuticals and former Vice President of Covance Health Economics
and Outcomes, a healthcare consulting firm.
* Eric I. Richman, Vice President, Business Development & Strategic
Planning -- a member of the founding team of MedImmune, Inc. and former
Vice President of Corporate Development of MaxCyte.
* Gopinath N. Menon, Ph.D., Vice President Quality & Chemistry,
Manufacturing & Controls (CMC) -- formerly at Abbott Laboratories as
Director of Analytical Research, Director of Pharmaceutical and
Analytical R&D and Director of CMC Development.
* Solomon Langermann, Ph.D., Vice President & Chief Scientific Officer --
Founder and President of Integrated Therapeutics Corporation of
Baltimore. Formerly with MedImmune, as Senior Director of the
Department of Cell Biology, Director of the Department of Immunology and
Molecular Genetics and Research Scientist for the Department of
Immunology.
* James A. Ratigan, Vice President & Chief Financial Officer -- formerly
with OraPharma, Inc. as Executive Vice President and Chief Financial
Officer. He served as both Venture Manager and Chief Financial Officer
at Adler & Company, a venture capital firm and spent seven years with
Arthur Andersen.
"Biological terrorism is no longer a hypothetical threat," Mr. Wright
said, "and we have put together a team ideally equipped to help PharmAthene
confront that threat today." Mr. Wright joined PharmAthene in July 2003 and
was named President & CEO following an investment by HealthCare Ventures LLC,
a leading venture capital firm specializing in biotechnology and life-science
investing on September 11, 2003. Mr. Wright has held senior sales, marketing,
and management positions with G.D. Searle, Glaxo, Smith-Kline & French, and
MedImmune. Before joining PharmAthene, he was President and Chief Operating
Officer of GenVec, Inc., and prior to that President and Chief Business
Officer of Guilford Pharmaceuticals.
Exclusive License from Harvard to Develop Therapeutics and Vaccines
With an exclusive worldwide license from Harvard University, the company
is in advanced development of ToxBlox(TM), a dominant negative inhibitor (DNI)
therapeutic agent to combat the effects of anthrax toxin. Anthrax enters the
body through inhalation, an open wound or contaminated food or water. The
bacterium begins to replicate and produce lethal and edema toxins. In the
fall of 2001, anthrax toxin killed five people and sickened many others after
letters containing deadly Bacillus anthracis spores were mailed to elected
officials and members of the media.
PharmAthene's DNI technology also shows promise as a vaccine and could
represent a major step forward in this area. The anthrax vaccine currently
available calls for a regiment of injections over 18 months and often causes
flu-like symptoms.
"The threat of biological warfare, greatly magnified by 9/11, has not been
adequately addressed by the pharmaceutical industry," said Mr. Wright. "The
management team we have put together has the specialized experience necessary
to work with all of the technologies we are focusing on to combat the effects
of anthrax."
Background on PharmAthene, Inc.
PharmAthene, Inc., a privately-held corporation, was formed in March, 2001
by Drs. John Collier, Stephen Lory and John Mekalanos of Harvard University
Medical School, John Young of the Salk Institute for Biological Studies, and
Mr. Joel McCleary, a private investor who is serving as Chairman of the Board.
All four scientists are continuing to work closely with the company to develop
the DNI therapeutic and vaccine.
The company has formed a unique relationship with the Defense Advanced
Research and Project Agency (DARPA) and the United States Medical Research and
Materiel Command (USMRMC), which provided funding for early stage development
of the DNI therapeutic.
The original work to develop an anthrax therapeutic agent goes back many
years. Dr. Collier, Presley Professor of Microbiology and Molecular Genetics
at Harvard Medical School, first observed in 1989 the "natural pore" made by
the anthrax molecule that pierces human cells and injects its deadly toxin.
In early 2001, after isolating seven pore subunits (PA's), each composed of as
many as 586 amino acids, Dr. Collier and his colleagues found that if only one
of the seven subunits is a mutant, the anthrax toxins cannot move through the
pore into the cell.
This formed the basis for the mutated protective antigen (PA) known as the
Dominant Negative Inhibitor (DNI).
PharmAthene is currently manufacturing DNI under GMP conditions for
clinical testing. Human safety an animal efficacy studies are planned for this
year. For further information please visit: http://www.pharmathene.com
FORWARD LOOKING STATEMENT
Statements included within this press release that are not historical in
nature constitute forward-looking statements for the purposes of the safe
harbor provided by the Private Securities Litigation Reform Act of 1995.
Readers can identify these statements by the fact that they do not relate
strictly to historical or current facts and use words such as "anticipates,"
"believes," "continue," "estimates," "expects," "intends," "may," "will" and
other similar words or terms in connection with a discussion of PharmAthene's
plans and objectives for future operations or financial performance. Such
statements speak only as of the date the statement was made, and PharmAthene
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise. Readers are cautioned that forward-looking statements are
inherently subject to risks or uncertainties, some of which cannot be
predicted or quantified. Future events and actual results could differ
materially from those set forth in, contemplated by, or underlying the
forward-looking statements. The risks and uncertainties to which forward-
looking statements are subject include, but are not limited to, the effect of
acceptance of the PharmAthene's products by the marketplace, competition, and
other risks. There can be no assurance that PharmAthene's development efforts
will succeed, that any products developed will receive required regulatory
clearance or that, even if such regulatory clearance were received, such
products would ultimately achieve commercial success.
SOURCE PharmAthene, Inc.
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Related links:
http://www.pharmathene.com
CONTACT:
Mark Cooke, Sr. Director Education, of
PharmAthene, Inc., +1-410-571-8925, cookem@pharmathene.com
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