Elusys Expands Scientific Advisory Board
With the Additions of Two Infectious Disease Experts
PINE BROOK, N.J., Oct. 19 /PRNewswire/ -- Elusys Therapeutics, a
privately-held biopharmaceutical company focused on the development of
targeted anti-infective therapeutics today announced that company President,
Elizabeth Posillico, Ph.D., has assumed the responsibilities of Chief
Executive Officer and Director. In January 2005, Dr. Posillico was promoted
to President. She was previously Sr. Vice President of Operations for the
Company.
Today Elusys also announced the appointments of two infectious disease
experts, David S. Perlin, Ph.D. and Stephen M. Smith, M.D., to the company's
Scientific Advisory Board.
"This is an exciting time to lead Elusys," said Dr. Elizabeth Posillico.
"Anthim, a highly effective intramuscular treatment for Anthrax infection,
represents a significant near-term revenue opportunity for the Company. A
Phase I human clinical trial is underway and we will have data to report in
early 2006."
William R. Miller, Chairman of the Board of Elusys and former Vice
Chairman of Bristol-Myers Squibb commented, "Dr. Posillico has provided proven
leadership to Elusys over the last several years and has been instrumental in
overseeing the development of Anthim. Dr. Posillico's appointment to the
board and additional responsibilities as CEO provides us the opportunity to
take the Company to its next stage of development. We will need her
leadership as we gear up for the potential purchase of Anthim by the U.S.
Government under Project BioShield and to further advance follow-on
Heteropolymer Antibody products in our infectious disease pipeline."
Dr. Posillico added, "Our Heteropolymer Antibody Technology (HP) has
demonstrated a unique ability to clear and destroy pathogens. This
proprietary technology provides Elusys with a platform to develop a pipeline
of novel drug candidates targeted against bacterial, viral and fungal
infections. We intend to forge collaborations with strategic partners to
develop and commercialize product candidates derived from this technology."
"Our next clinical candidate, ETI-211, is a Heteropolymer drug for the
treatment of antibiotic resistant Staphylococcus aureus infections.
Preclinical studies have also begun on two additional infectious disease
targets. The additions of Dr. Perlin and Dr. Smith to our Scientific Advisory
Board will provide us with additional guidance as we forge ahead with our
infectious disease pipeline."
About David S. Perlin, Ph.D.
Dr. Perlin was recently appointed to President of the Public Health
Research Institute (PHRI). Prior to this appointment, Dr. Perlin had been
Scientific Director at PHRI for thirteen years. He was appointed professor of
microbiology and Molecular Genetics at New Jersey Medical School - UMDJN in
2003. Dr. Perlin is an expert in drug-resistant fungal infections and the
rapid diagnosis of opportunistic pathogens in high risk patients.
Dr. Perlin is a member of the New York Academy of Sciences Emerging
Infectious Disease Discussion Group and a member of the Executive Committee of
the Northeast Biodefense Center. He is also a member of Senator Jon Corzine's
New Jersey Healthcare Taskforce and a member of the Board of Directors of the
Aaron Diamond AIDS Research Center. In 2001 he was a special consultant to
the US Senate Finance Committee's investigation of the October anthrax
outbreak. More recently Dr. Perlin worked closely with the Chinese Government
to address SARS, TB and other emerging infectious diseases in China.
About Stephen M. Smith, M.D.
Dr. Smith is Chief of Infectious Diseases at St. Michael's Medical Center
in New Jersey. In 1998, Dr. Smith established his virology laboratory at
Saint Michael's and has since published more that 15 papers related to HIV
vaccine development, treatment, pathogenesis and sexual transmission. Dr.
Smith is also Medical Director of the Peter Ho Memorial Clinic at Saint
Michael's, the largest HIV clinic in New Jersey. Dr. Smith is also Program
Director of the Infectious Diseases Fellowship Program at Seton Hall School of
Graduate Medical Education.
About Dr. Posillico
Prior to joining Elusys, Dr. Posillico held executive positions at several
biopharmaceutical companies including: Genzyme, Physiome Sciences, Apoptogen
and Damon Biotech. Dr. Posillico also served on the management committee of
the Canadian Medical Discovery Fund, providing insight and recommendations for
funding early-stage Canadian biotech firms. She holds a Ph.D. in
endocrinology from Duke University, where she also did post-doctoral work in
physiology.
Upcoming Venture Investor Conferences
Elusys will be attending and presenting at the following venture investor
conferences in 2005:
* BIO Investor Forum - October 20, at 2:00 PM at the Palace Hotel in San
Francisco, CA
* 7th Annual Rodman & Renshaw Techvest - November 7, at 8:00 AM at the
Palace Hotel in New York City
Elusys is currently raising approximately $15 million in additional
venture capital funds in the U.S. from new investors and existing
shareholders. Elusys was recently awarded $4.4M from the National Institute
of Allergy and Infectious Diseases (NIAID) and $1M from the Department of
Defense for advanced development of its Anthrax therapeutic, Anthim. To date,
the Company has been awarded $20M from the U.S. Government for the development
of novel therapeutics to combat bioterror agents.
About Elusys
Elusys is a privately-held biopharmaceutical company focused on the
development of targeted anti-infective therapeutics using its proprietary
Heteropolymer Antibodies (HP) for the treatment of infectious disease.
Current venture investors include Essex Woodlands Health Ventures LLC, Invesco
Private Capital, Crescendo Ventures, EagleAdvisors, and the Legg Mason Emerald
Fund. For more information on Elusys please visit http://www.elusys.com. For
more information on Elusys' Heteropolymer (HP) Technology please visit
http://www.elusys.com/technology_hp_animation.php.
SOURCE Elusys Therapeutics
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Related links:
http://www.elusys.com
http://www.elusys.com/technology_hp_animation.php
CONTACT:
Bryan Murphy of LaVoie Group, +1-781-596-0200
ext.105, bmurphy@lavoiegroup.com, for Elusys Therapeutics
NOTE TO EDITORS: Photo of Dr. Posillico available upon request.
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