GAITHERSBURG, Md., June 25 /PRNewswire/ -- Panacea Pharmaceuticals, Inc.
is pleased to announce the appointment of Bijan Almassian, PhD to the position
of Chief Operating Officer.
Kasra Ghanbari, the Chief Operating Officer of the Company since its
inception, has been promoted to the position of President. Additionally,
Hossein A. Ghanbari, PhD, President & CEO of the Company, will now serve as
CEO & Chief Scientific Officer.
"Bijan's extensive product and corporate development experience adds
considerable strength to our management team and its ability to maximize
Company resources and opportunities in developing our diversified technology
portfolio," stated Kasra Ghanbari, President of the Company.
"I'm excited to be joining the exceptional combination of people and
technology at Panacea," stated Dr. Almassian. "We are well positioned to meet
our product development milestones and to continue to drive and evolve our
value-adding and partnering model."
Dr. Almassian's 20 years of industry experience has focused on managing
the development of biopharmaceutical and pharmaceutical products in the areas
of cancer, infectious diseases, and lupus. He brings considerable experience
in all aspects of drug development including project management and planning,
preclinical and clinical study design and execution, quality control and
assurance, regulatory and clinical affairs, process development, and
manufacturing in both the United States and Europe.
Dr. Almassian was most recently President, COO, and Director of
AlexiPharma, Inc. in New Haven, Connecticut, a company dedicated to developing
compounds for pain and obesity.
Prior to joining AlexiPharma, he served at several senior management
capacities at Vion Pharmaceuticals, Inc., including Director of Development,
Vice President of Development, as an officer of the company, and most recently
as Vice President of Drug & Corporate Development. During his approximately
seven-year tenure at Vion, Dr. Almassian's team was responsible for the
development and filing of INDs for five anticancer drugs and biologics.
He spent six years at GeneLabs, Inc. as Manager of Process Development &
Manufacturing and then Director of Pharmaceutical Development, responsible for
product development activities for small molecule and biological drugs against
AIDS, Lupus, Hepatitis E, and cancer.
Before joining Genelabs, he held several scientific positions at
Genzyme/Integrated Genetics, Instrumentation Laboratories, and Orion Research.
Dr. Almassian holds MS and PhD degrees in Medicinal Chemistry from
Northeastern University and Massachusetts College of Pharmacy, respectively,
with postdoctoral training in cancer and cardiovascular research at Boston
University Medical School.
About Panacea Pharmaceuticals, Inc.
Panacea Pharmaceuticals, Inc. is an emerging biopharmaceutical company
focused on utilizing functional genomics and proteomics to develop
therapeutics and diagnostics for diseases with substantial unmet clinical
need. The Company's product development focus is on novel proteins and
biochemical pathways related to cellular regulation and cell cycle
abnormalities in oncology as well as neurodegenerative diseases, particularly
Alzheimer's disease and Parkinson's disease.
More information is available at http://www.PanaceaPharma.com.
Except for historical information presented in this press release, matters
discussed herein may constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-
looking statements are based on the opinions and estimates of management only
as of the date of this release and are subject to certain risks and
uncertainties that could cause actual results to differ materially from any
future results, performance, or achievements expressed or implied by such
statements. Factors that might cause such a difference include, but are not
limited to, uncertainties related to our access to capital, the progress,
costs, and results of any clinical trials undertaken by us, progress of our
research and development projects, and uncertainties related to whether our
product candidates would ultimately achieve commercial success. We do not
undertake any obligation to update publicly any forward-looking statement,
whether as a result of new information, future events, or otherwise unless
required by law.
Contact:
Panacea Pharmaceuticals, Inc.
Kasra Ghanbari, President
Phone 240-243-8000 x108; FAX 240-465-0450
Kasra@PanaceaPharma.com
SOURCE Panacea Pharmaceuticals, Inc.
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Related links:
http://www.panaceapharma.com
CONTACT:
Kasra Ghanbari, President of Panacea
Pharmaceuticals, Inc., +1-240-243-8000 x108; fax,
+1-240-465-0450; or Kasra@PanaceaPharma.com
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