BURLINGAME, Calif., Nov. 7 /PRNewswire/ -- BioSeek, Inc., a leader in
applying integrated human biology systems for developing new therapeutics,
announced today that Michael C. Venuti, Ph.D., has joined the Company as
its Chief Executive Officer and member of the Board of Directors. Dr.
Venuti succeeds Peter D. Staple, who will continue his involvement with the
Company as an investor and Board member. Dr. Venuti previously served as
Chief Executive Officer of Discovery Partners International, a small
molecule-based drug discovery services company.
Fred Craves, Managing Director and Founder of Bay City Capital, which
is a major investor in BioSeek, commented, "We welcome Michael to BioSeek,
as we believe his leadership and specific experience in drug discovery will
be important as BioSeek strives to expand its proprietary drug discovery
activities. This new direction was highlighted by our recent research
collaboration with Amylin Pharmaceuticals to discover novel peptide
therapeutics. We thank Peter Staple for his important contributions to
BioSeek, including taking the Company to a new level through validating
corporate partnerships, including our relationship with Amylin."
"It's gratifying to have an individual with Michael's background and
talent join us as the Company advances into an exciting new phase of
development," added Peter Staple.
"I look forward to leading BioSeek in its new drug discovery-focused
direction and anticipate these new initiatives will lead us to both
additional partnerships and revenue-generating contracts in the future,"
commented Dr. Venuti. "The launching of our proprietary development
programs utilizing our BioMAP(R) human biology screening systems will also
provide us with additional internal value drivers."
Since the Discovery Partners merger with Infinity Pharmaceuticals in
September 2006, Dr. Venuti has served as a consultant to TPG Growth Biotech
Ventures, as well as to a number of biotech companies. Before becoming CEO
of Discovery Partners, Dr. Venuti served as Chief Scientific Officer, and
had been a member of its board of directors before becoming CSO. Prior to
joining Discovery Partners, he served as General Manager of Celera Genomics
Group's South San Francisco site after its acquisition of Axys
Pharmaceuticals, Inc. He served as Senior Vice President, Research and
Preclinical Development, of Axys Pharmaceuticals prior to its acquisition
by Celera. In this capacity, he was responsible for all small molecule
target identification, medicinal chemistry, drug discovery and preclinical
development activities. Prior to joining Axys, Dr.Venuti was Director of
Bioorganic Chemistry at Genentech, Inc., and had begun his research career
in medicinal chemistry at Syntex.
Dr. Venuti holds an A.B. from Dartmouth College, a Ph.D. in organic
chemistry from the Massachusetts Institute of Technology, and completed
postdoctoral training in the Institute of Organic Chemistry at Syntex
Research. He is on the board of directors of Infinity Pharmaceuticals and
serves as Executive Scientific Advisor to BIO Ventures for Global Health, a
non-profit advocacy group focused on drug discovery and development for
neglected diseases. Dr. Venuti holds an appointment as Adjunct Professor of
Chemistry in the Department of Pharmaceutical Chemistry at the University
of California, San Francisco.
About BioSeek
BioSeek is improving the success rate of pharmaceutical research and
development by integrating human biology from the early stages of drug
discovery onward. The Company's BioMAP(R) Systems incorporate predictive
human cell-based disease models that generate uniquely informative activity
signatures for each potential drug, driving the selection and development
of new drug candidates. BioSeek is leveraging BioMAP(R) Systems technology
in collaborations to enhance the productivity of its pharmaceutical
partners' pipelines, and in the Company's internal programs to identify
promising compounds for proprietary development in the fields of
inflammation, cardiovascular diseases, autoimmune diseases, and related
indications.
For more information, go to http://www.bioseekinc.com
BioSeek Contacts:
BioSeek, Inc.
Michael C. Venuti, Ph.D.
Chief Executive Officer
Tel: 650-552-0754
E-mail: mvenuti@bioseekinc.com
MacDougall Biomedical Communications
Jennifer Greenleaf
Tel: 508.647.0209
E-mail: jgreenleaf@macbiocom.com
SOURCE BioSeek, Inc.
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Related links:
http://www.macbiocom.com/
CONTACT:
Michael C. Venuti, Ph.D., Chief Executive
Officer of BioSeek, Inc., +1-650-552-0754,
mvenuti@bioseekinc.com; or Jennifer Greenleaf of MacDougall
Biomedical Communications for BioSeek, Inc., +1-508-647-0209,
jgreenleaf@macbiocom.com
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