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Cellular Genomics Establishes Research Collaboration With Lilly
Branford, CT – (PRNewswire) - December 17, 2003
Cellular Genomics Inc. (CGI), a chemical genetics based biopharmaceutical company, today announced that it has entered into a research collaboration with Eli Lilly and Company, under which CGI will apply its chemical genetics Analog Sensitive Kinase Allele (ASKA) technology to the study of kinase drug targets selected by Lilly.
"We are extremely pleased that Lilly has chosen to collaborate with CGI to further enhance their kinase drug discovery programs," said Dr. Louis Matis, President and Chief Executive Officer of CGI. "This marks the fifth collaboration we have established with a major pharmaceutical or biotechnology company based on our patented chemical genetics technologies, demonstrating their value and utility."
CGI's cutting-edge chemical genetics approach is based on the discovery of Analog Sensitive Kinase Alleles (ASKAs). ASKAs are genetically modified kinases that retain all the functions of normal kinases, but can be potently inhibited with exquisite selectivity and specificity by a specially designed proprietary small molecule analog inhibitor. This enables drug discovery scientists to quickly understand the pharmacological consequences of specific kinase inhibition and, therefore, the likely therapeutic benefit of inhibiting the normal kinase target with a small molecule drug. CGI holds the exclusive worldwide license to this broadly enabling chemical genetics technology, which has powerful applications to multiple facets of the drug discovery process. These include: cell pathway based target identification; rigorous, pharmaceutically relevant in vivo target validation; proprietary high-content cell-based drug screens; and in vivo systems that provide key therapeutic index and drug safety information to guide the selection of optimal drug candidates for clinical development.
Under the terms of the agreement, CGI will use its ASKA technology to generate modified kinases for Lilly. CGI's P-inhibitor technology will be utilized to design and validate unique cell-based assays specific for the kinases of interest to Lilly. These assays have the potential to accelerate Lilly's lead identification efforts against the kinase targets.
About CGI:
Cellular Genomics Inc. (CGI) is a privately held chemical genetics-based biopharmaceutical company that is pioneering a unique, highly integrated chemical genetics platform to discover and develop kinase and other signal transduction inhibitors for multiple clinical indications. CGI has established state-of-the art small molecule drug discovery capabilities, including proprietary chemical libraries generated through the company's High-throughput Accelerated Lead Optimization (HALO) platform. CGI has generated potent, selective lead candidates in three drug discovery and development programs in autoimmune and inflammatory disease, cancer, and angiogenesis that are advancing rapidly toward the clinic. CGI's proprietary chemical genetics technologies have broad applications across all phases of drug discovery, which the company is leveraging both to advance its own internal drug development programs as well as to establish partnerships with pharmaceutical and biotechnology companies. The Company has established research collaborations with several pharmaceutical and biotechnology companies. Please visit http://www.cellulargenomics.com for additional information.
The National Surgical Adjuvant Breast and Bowel Project (NSABP) and Genomic Health, Inc. Announce Positive Results from Large-Scale, Prospective Validation Study to Quantify Breast Cancer Recurrence in Newly Diagnosed Patients
San Antonio, TX – December 4, 2003
First Large-Scale, Multi-Center Validation of a Genomic Assay from Fixed Paraffin-Embedded Tissue; Performance Exceeded Standard Measures of Patient Age, Tumor Size and Tumor Grade in Quantifying Recurrence
The National Surgical Adjuvant Breast and Bowel Project (NSABP) and Genomic Health, Inc. today announced that their large, prospective trial met its defined endpoints and validated that Genomic Health's unique breast cancer assay can accurately and precisely quantify the likelihood of breast cancer recurrence in a large segment of newly diagnosed breast cancer patients. The study also showed that the “recurrence score” determined by the assay provides a level of correlation to breast cancer recurrence and performance that exceeds standard measures, such as patient age, tumor size and tumor grade. These results, which were presented at the 26th Annual San Antonio Breast Cancer Symposium, are the first large-scale, multicenter validation of a multi-gene assay. It is also the first time that such a study has been conducted using thin sections from standard diagnostic pathology specimens (fixed paraffin-embedded tissue) that are routinely available.
“We are excited about the results of this trial, which represent a practical advance in breast cancer diagnosis because the assay uses tumor tissue that is routinely obtained and stored for every patient,” said Norman Wolmark, M.D., chair of the National Surgical Adjuvant Breast and Bowel Project (NSABP), and the Department of Human Oncology at Allegheny General Hospital in Pittsburgh, Pennsylvania. “Based on our studies, the recurrence score becomes as important a prognostic measure for this group of nodenegative patients as nodal status is for all patients,” said Dr. Wolmark.
Using NSABP's extensive patient database, NSABP and Genomic Health designed a blinded, prospective validation using surgical tissue samples from 668 patients, who were node-negative, ER-positive and tamoxifen-treated. These tissue samples were from patients who enrolled in the NSABP B-14 clinical trial from 1982-1988 and whose outcomes have been tracked over time by NSABP sites. Using RNA analysis of tumor tissues, the study evaluated Genomic Health's breast cancer assay to determine the likelihood of breast cancer recurrence as defined by a recurrence score from 0-100. The recurrence score was able to accurately assign patients into high and low risk groups (p<0.00001), and when the recurrence score was examined together with age and tumor size in a multivariate analysis only recurrence score remained a significant predictor of patient outcome (p<0.00001).
“The results of this trial demonstrate a major advance in molecular pathology by showing that the performance of this genomic assay exceeds the standard measures of patient age, tumor size and tumor grade, characteristics that clinicians have used to predict prognosis for the better part of a century,” said Soonmyung Paik, M.D., director, Division of Pathology, NSABP. “Even more important is the fact that we can perform this assay in a reproducible and accurate manner using routinely available diagnostic biopsy tissue, unlike other genome based assays which require special handling, such as snap freezing in liquid nitrogen. We believe our findings will provide critical information for this substantial group of patients,” said Dr. Paik.
The NSABP trial studied a specific population of breast cancer patients, those who were node-negative, hormone-receptor-positive and tamoxifen-treated. This is a substantial breast cancer patient population, making up approximately 70 percent of the newly diagnosed node-negative patients each year.
Genomic Health's breast cancer assay used in the NSABP trial is the first gene panel to be validated in a large-scale, multi-center, prospective validation study. The study showed that using multiple genes is more powerful than using single genes and will provide more consistent and reliable information for physicians and patients. The gene panel includes genes related to the estrogen receptor, HER2, proliferation and invasion as well as several other important categories.
“These validated, pivotal findings provide physicians and patients with quantifiable information that we believe will greatly improve treatment planning,” said Steven Shak, M.D., chief medical officer of Genomic Health, Inc. Genomic Health plans to make its assay available in early 2004 as a clinical laboratory service under the name Onco type DX.
“The results of our trial with NSABP mark the beginning of a new era in individualized medicine by demonstrating for the first time the practical application of genomic research to the development of validated molecular diagnostics in the treatment of cancer,” said Randy Scott, Ph.D., chairman and CEO of Genomic Health, Inc. and co-founder of Incyte, the world's first genomic information business. Genomic Health has already begun to expand the study of the Onco type DX service in other cancer patient populations related to disease recurrence and is also studying the responsiveness of individual tumors to chemotherapy and specific targeted therapies.
The NSABP is a not-for-profit, clinical trials cooperative group, which includes a network of over 300 professionals located in the U.S. , Canada and Puerto Rico . Research conducted by the NSABP is supported primarily by grants from the NCI. For more than 40 years, the NSABP has successfully conducted large-scale, randomized clinical trials in colorectal and breast cancer that have altered and improved the standard of care for men and women with these diseases. To learn more about the NSABP, please visit our Web site at http://www.nsabp.pitt.edu.
Genomic Health, Inc. is a health care services company that employs sophisticated genomic research to develop clinically validated molecular diagnostics. Genomic Health's goal is to provide individualized information on the likelihood of disease recurrence and response to therapy in order to improve the quality of treatment decisions for patients with cancer. Genomic Health has the financial backing of some of the world's leading capital and financial institutions, including Kleiner Perkins Caufield & Byers, JP Morgan, Versant Ventures, Texas Pacific Group and Baker/Tisch. The company was founded in August 2000 and is located in Redwood City, California.
Cellular Genomics Expands Kinase Discovery Collaboration With Serono
Branford, CT – (PRNewswire) - November 18, 2003
Cellular Genomics Inc. (CGI) today announced the expansion of its ongoing joint kinase discovery program with Serono to now include the study of an additional kinase drug target of interest to Serono. Under the original collaborative research agreement announced in October of 2002, CGI is applying its proprietary chemical genetics technologies to four kinase drug targets selected by Serono.
"We are very proud of the partnership we have established with Serono and are pleased that this industry leader in developing innovative therapeutics has elected to expand our current collaboration," said Louis Matis, President and Chief Executive Officer of CGI. "We look forward to further applying our unique chemical genetics technologies to enhance Serono's kinase programs, and to continuing to build upon our highly productive relationship."
CGI's cutting-edge chemical genetics approach is based on the discovery of Analog Sensitive Kinase Alleles (ASKAs). ASKAs are genetically modified kinases that retain all the functions of normal kinases, but can be potently inhibited with exquisite selectivity and specificity by a specially designed proprietary small molecule analog inhibitor. This enables researchers to quickly understand the pharmacological consequences of inhibiting a chosen single kinase. Therefore, early in the discovery program, researchers can evaluate the likely therapeutic benefit of inhibiting the normal kinase target with a small molecule drug. CGI holds the exclusive worldwide license to this broadly enabling chemical genetics technology, which is being directly applied to multiple facets of the drug discovery process. These include: cell pathway based target identification; rigorous, pharmaceutically relevant in vivo target validation; proprietary high-content drug screens; and in vivo systems that provide key therapeutic index and drug safety information to guide the selection of optimal drug candidates for clinical development.
Under the terms of the amended agreement, CGI will use its ASKA technology to produce the modified kinases for Serono. In addition, CGI's P-inhibitor technology will be utilized to study the consequences of potent, selective kinase inhibition in vivo, and CGI will apply its P-target technology for in-depth mapping of clinically important kinase signaling pathways of interest to Serono.
About CGI:
Cellular Genomics Inc. (CGI) is a privately held genomics-based biopharmaceutical company that is pioneering a unique, highly integrated chemical genetics platform to discover and develop kinase and other signal transduction inhibitors for multiple clinical indications. CGI has established state-of-the art small molecule drug discovery capabilities, including proprietary chemical libraries generated through the company's High-throughput Accelerated Lead Optimization (HALO) platform. CGI has generated potent, selective lead candidates in three drug discovery and development programs in autoimmune and inflammatory disease, cancer, and angiogenesis that are advancing rapidly toward the clinic. CGI's proprietary chemical genetics technologies have broad applications across all phases of drug discovery, which the company is leveraging both to advance its own internal drug development programs as well as to establish partnerships with pharmaceutical and biotechnology companies. Within the past year, the Company announced research collaborations with Serono SA, Schering AG, and Pfizer Inc., all of which are implementing CGI's chemical genetics technologies for partners' kinase drug discovery programs. Please visit http://www.cellulargenomics.com for additional information.
Cellular Genomics and Affymetrix Form Research Collaboration to Develop Novel High-Content Drug Screens
Branford, CT – (PRNewswire) - October 9, 2003
Cellular Genomics, Inc. (CGI), a chemical genetics based biopharmaceutical company, today announced that it has established a research collaboration with Affymetrix, Inc. the pioneer in creating breakthrough tools that are driving the genetic revolution. In the collaboration, CGI will use Affymetrix GeneChip(R) brand technology in conjunction with CGI's chemical genetics Analog Sensitive Kinase Allele (ASKA) technology for the development of unique high-content assays for kinase drug discovery. In addition, the research program will demonstrate an important new utility for Affymetrix' GeneChip arrays in cell-based assay development and lead discovery. These studies will make it possible to determine, for the first time, all the changes in cellular gene expression resulting from exquisitely specific small molecule-mediated human kinase target inhibition.
"We are very pleased to begin this exciting collaboration with Affymetrix," said Mark Velleca, MD, PhD, Vice President of Research and Preclinical Development at CGI. "Affymetrix's high quality GeneChip platform will accelerate CGI's development of novel high-content drug screens that can be utilized for functional selectivity profiling of kinase inhibitors. In addition, the information gained from this research collaboration will enhance our abilities to choose the optimal clinical candidates from the potent, selective lead compounds that we have already generated in our kinase drug discovery and development programs."
CGI's cutting-edge chemical genetics approach is based on the discovery of Analog Sensitive Kinase Alleles (ASKAs). ASKAs are genetically modified kinases that retain all the functions of normal kinases, but can be potently inhibited with exquisite specificity by proprietary small molecule analog inhibitors. CGI holds the exclusive worldwide license to this broadly enabling chemical genetics technology, which is being directly applied to multiple facets of the drug discovery process. These include cell pathway based target identification, rigorous, pharmaceutically relevant in vivo target validation, proprietary high-content drug screens, and in vivo systems that provide key therapeutic index and drug safety information to guide the selection of optimal drug candidates for clinical development.
About CGI:
Cellular Genomics Inc. (CGI) is a privately held genomics-based biopharmaceutical company that is pioneering a unique, highly integrated chemical genetics platform to discover and develop kinase and other signal transduction inhibitors for multiple clinical indications. CGI has established state-of-the art small molecule drug discovery capabilities, including proprietary chemical libraries generated through the company's High-throughput Accelerated Lead Optimization (HALO) platform. CGI has generated potent, selective lead candidates in three drug discovery and development programs in autoimmune and inflammatory disease, cancer, and angiogenesis that are advancing rapidly toward the clinic. CGI's proprietary chemical genetics technologies have broad applications across all phases of drug discovery, which the company is leveraging both to advance its own internal drug development programs as well as to establish partnerships with pharmaceutical and biotechnology companies. Within the past year, the Company announced research collaborations with Serono SA, Schering AG, and Pfizer Inc., all of which are implementing CGI's chemical genetics technologies for partners' kinase drug discovery programs. Please visit http://www.cellulargenomics.com for additional information.
Amicus Therapeutics Expands Intellectual Property Estate – Issuance of Patent Secure's Company's Proprietary Position
New Brunswick, NJ - September 18, 2003
Amicus Therapeutics, Inc., an emerging drug development company focused on the development of a novel therapeutic approach to the treatment of human genetic disorders, with an initial focus on lysosomal storage diseases, announced today the issuance of U.S. Patent number 6,599,919. This marks Amicus' fourth U.S. Patent for its novel method of restoring normal function to mutant proteins with therapeutic pharmacological chaperones. This patent serves to consolidate the areas of coverage provided by the Company's existing patent portfolio, which includes claims directed to treating both mutant and non-mutant enzymes, as well as broad intellectual property related to treating all lysosomal storage diseases.
"With the issuance of this broad patent we have secured our commercial position and our ability to dominate the field of pharmacological chaperone therapy to rescue any and all mutant enzymes." said Norman Hardman, Ph.D., Chief Executive Officer of Amicus Therapeutics, Inc. "Amicus was founded on the belief that pharmacological chaperones present a superior small molecule approach to the treatment of genetic disorders that result from protein misfolding, and provide an effective alternative to enzyme replacement therapy. Our therapeutic products have the ability to expand the market by offering treatment to a broader range of patients because of their oral delivery, high selectivity for disease protein, and greater suitability for long term-chronic therapy. With our consolidated patent portfolio we are optimally positioned to navigate a wealth of drug development and collaboration opportunities."
The newly issued patent covers the method for rescuing the activity of all mutant enzymes with pharmacological chaperones, completing a portfolio of patents that includes U.S. Patent 6,583,158, which covers the method for enhancing mutant enzyme activities in lysosomal storage disorders, U.S. Patent 6,589,964, covering claims for the enhancement of wild-type enzymes, and Patent 6,274,597, describing methods for enhancing lysosomal á-Galactosidase A. Amicus' intellectual property estate includes these four issued U.S. patents, and a related family of five pending applications, all of which are licensed exclusively from the Mount Sinai School of Medicine.
About Amicus Therapeutics
Amicus was established in April 2002 with seed financing provided by CHL Medical Partners II, a venture capital fund managed by Collinson, Howe & Lennox, and is focused on the development of orally-active, small molecule drugs capable of restoring normal function to mutant proteins. Amicus was founded to capitalize on the discovery that many diseases of genetic origin are caused by missense mutations and other rescuable mutations that result in the misfolding of a protein/enzyme. These misfolded mutant proteins become targeted for degradation before reaching their normal site of action, leading to the disease phenotype. Pharmacological Chaperones are designed to help the mutant protein fold correctly into its normal 3-dimensional conformation, restoring the normal processing and transport of the protein and rescuing its intrinsic biological activity and function.
Amicus technology is based on research conducted by Jian-Qiang Fan, Ph.D., Assistant Professor, Department of Human Genetics at Mount Sinai School of Medicine, and a founder of Amicus. Amicus' pharmacological chaperone approach has the potential to be applied to a wide range of genetic disorders. The Company's initial focus is on lysosomal storage disorders and its first compound, AT1001 for Fabry disease, is in late-stage preclinical development. The Company anticipates filing an IND for AT1001 by the first quarter of 2004. Amicus currently has 10 employees and is headquartered at the New Jersey Technology Center in North Brunswick , New Jersey . Additional information about the Company can be found at www.amicustherapeutics.com
Cellular Genomics Receives European Patent for Unique Chemical Genetics Technology for Kinase Drug Discovery
Branford, CT – (PRNewswire) - September 16, 2003
Cellular Genomics, Inc. (CGI), today announced that the European Patent Office has granted the Company European Patent No. 1140938, which covers general methods for discovering enzyme inhibitors, as well as methods and compositions of a class of specific inhibitors of protein kinases, a major class of drug targets. The Company was granted a U.S. Patent for this technology in May of 2002.
"This additional patent for our proprietary kinase technology helps to secure our commercial position in both the key U.S. and European markets," said Louis Matis, M.D., President and Chief Executive Officer of Cellular Genomics. "Over the past 12 months, we have been very active with partnering efforts for our core technology, establishing research collaborations with major pharmaceutical and biotech companies such as Pfizer, Inc, Serono S.A. and Schering AG. In addition, we have made significant strides in developing this technology for accelerating our own internal drug discovery and development initiatives, where we have generated potent, selective lead compounds in three distinct programs that are being advanced toward the clinic for multiple clinical indications in cancer and autoimmune and inflammatory disease."
CGI's cutting-edge approach is based on the discovery of Analog Sensitive Kinase Alleles (ASKAs). ASKAs are genetically modified kinases that retain all the functions of normal kinases, but can be potently inhibited with exquisite specificity by proprietary small molecule analog inhibitors. Cellular Genomics holds the exclusive worldwide license to this broadly enabling chemical genetics technology, which is being directly applied to multiple facets of the drug discovery process. These include cell pathway based target identification, rigorous, pharmaceutically relevant in vivo target validation, proprietary drug screens, and in vivo systems that provide key therapeutic index and drug safety information to guide the selection of optimal drug candidates for clinical development.
The inventor of the technology is Dr. Kevan Shokat, formerly a professor at Princeton University and currently at the University of California , San Francisco . Dr. Shokat is one of CGI's scientific founders and a member of the CGI Scientific Advisory Board.
About Cellular Genomics Inc.
Cellular Genomics Inc. (CGI) is a privately held genomics-based biopharmaceutical company that is pioneering a unique, highly integrated chemical genetics platform for drug discovery and development. The company has established small molecule drug discovery programs focused on discovering and developing signal transduction inhibitors for the treatment of autoimmune/inflammatory diseases and cancer.
CGI's chemical genetic, functional genomic, and proteomic technologies, which have broad application to drug discovery across a range of major clinical indications, couple unprecedented rigor in the identification and validation of novel drug targets directly to unique small molecule drug discovery capabilities, including proprietary compound libraries.
In June of 2003, CGI announced an important breakthrough with the successful development of a unique ASKA Mouse Drug Discovery Model. ASKA mice are created by replacing the normal kinase in the genome with a fully functional ASKA. The target kinase can then be specifically and reversibly inhibited in vivo by systemic administration of CGI's analog inhibitors. In a major advance, CGI showed that mice expressing the ASKA version of an angiogenesis/cancer kinase fully rescued the lethal phenotype associated with the gene knockout of this kinase, thus enabling this promising drug target to be studied for the first time in pharmacologically relevant in vivo models of cancer and angiogenesis. The demonstration that in vivo expression of ASKA kinases had the ability to rescue lethal phenotypes commonly resulting from kinase gene knockouts established ASKA as a breakthrough technology for the investigation of multiple kinase targets.
CGI is leveraging all of these capabilities to advance its own internal drug development programs as well as to establish partnerships with pharmaceutical companies. In 2002, the Company announced research collaborations with Serono SA, Schering AG, and Pfizer. Please visit http://www.cellulargenomics.com for additional information.
GeneOhm Sciences appoints Steve Lundy as Vice President, Marketing and Business Development - San Diego Molecular Diagnostics Firm Expands Executive Team
San Diego, CA - September, 2003
GeneOhm Sciences, a rapidly growing molecular diagnostics company based in San Diego, CA has announced the addition of Steve Lundy as the new Vice President of Marketing and Business Development.
Mr. Lundy will be responsible for driving the marketing, sales and business development activities for the Company. Prior to joining GeneOhm Sciences, Mr. Lundy was most recently the Vice President of Marketing for Esoterix Inc, a leading laboratory services company. His background also includes 15 years of experience in marketing, sales and business development from Bayer Diagnostics, AVL Medical (Roche Diagnostics) and Dianon Systems (Lab Corporation of America).
Peter Klemm, Chief Executive Officer for GeneOhm Sciences commented: “We are thrilled to have Steve join our team. He brings to the company a track record of success in high growth organizations and we look forward to his contribution to our vision of becoming a key player in the field of molecular diagnostics.”
About GeneOhm Sciences Inc:
GeneOhm Sciences is a fast-growing molecular diagnostics company located in San Diego , CA. The company is applying its integrated, proprietary technology portfolio, which includes electrochemistry, sample processing, and chip fabrication, to serve the unmet diagnostic needs in a wide range of diseases including inherited diseases, cardiovascular diseases, infectious diseases and oncology. Established in 2001 with technology developed over a decade by Professor Jacqueline K. Barton at the California Institute of Technology, GeneOhm Sciences has attracted a group of outstanding investors and scientists with years of experience in the life sciences and electronics fields. The company is planning to launch its first diagnostic product in 2004.
ZOLL Medical and Revivant Announce Strategic Relationship - New AutoPulse Automated CPR Product Offers Revolutionary Opportunity to Treat Cardiac Arrest Patients
Chelmsford, MA - August 14, 2003
ZOLL Medical Corporation (Nasdaq: ZOLL), a manufacturer of non-invasive cardiac resuscitation devices, and Revivant Corporation, a manufacturer of the AutoPulse CPR product, today announced a business agreement aimed at the commercialization of Revivant's AutoPulse. The AutoPulse, a new FDA-approved portable device that automates chest compressions, has been shown to greatly increase blood flow to the brain and heart compared to manual cardiopulmonary resuscitation (CPR). The AutoPulse is currently sold in the United States and is being used clinically in a number of sites.
Under the terms of the agreement, ZOLL has invested $7 million in Revivant preferred stock and provided $5 million of debt financing. In return, ZOLL received a 15% stake in Revivant and an option, at ZOLL's discretion, to acquire the remaining outstanding shares of Revivant at any time up through October 4, 2004 . If the option is exercised by ZOLL, ZOLL will pay $15 million to Revivant's shareholders to acquire the remaining outstanding shares. ZOLL may also make clinical milestone payments, up to an additional $15 million, tied to the completion of certain clinical trials with the AutoPulse. ZOLL will make additional payments in the years 2005 through 2007 based on the growth of the AutoPulse sales. All payments made after the initial debt and equity investments will be a combination of cash and ZOLL common stock.
The need for improved blood flow during cardiac arrest is well documented. Recent clinical studies have shown that in some cases it is beneficial to provide chest compressions prior to attempting a defibrillation shock. Manual chest compressions using only the rescuer's hands are not optimal in restoring blood pressure and increasing blood flow in an arrest victim. An improved technique for performing chest compressions has been long sought by resuscitation researchers.
In animal trials, the AutoPulse has been shown to improve blood flow to the brain and heart to above normal, pre-cardiac arrest levels in an ALS environment, versus achieving only 30% of normal levels with conventional CPR. In an in-hospital human trial, the AutoPulse product increased coronary perfusion pressure in arrest victims to above levels needed for a return to spontaneous circulation while manually performed CPR did not. Additional studies are currently in progress. The AutoPulse holds the promise of being able to resuscitate patients that have been in arrest for an extended period of time.
Richard Packer, President and Chief Executive Officer of ZOLL, commented on the opportunity represented by the AutoPulse, “With the spread of AED's there is a foundation for achieving high resuscitation rates. However, early defibrillation alone will not allow resuscitation rates, currently around 5% worldwide, to get beyond 15%. Improving circulation in a patient in arrest is the next big opportunity. We envision a day, in the not too distant future, when the AutoPulse is a front line tool for all professional rescuers. Additionally, the potential to add ZOLL defibrillation technology to the current AutoPulse device would allow ZOLL to offer a unique resuscitation solution to the marketplace. We are very excited about working closely with the management of Revivant to ramp up the adoption of the AutoPulse.”
Ken Ludlum, President and Chief Executive Officer of Revivant, commented on the relationship, “Revivant's AutoPulse has the potential to revolutionize the way resuscitation events are handled for both in-hospital and out-of-hospital cardiac arrests. The AutoPulse has been well received at recent EMS shows. We began shipping the product for clinical use in April. The ZOLL investment comes as we build our sales team in excess of 15 people to bring the product to market. Together, I feel we can introduce and establish the AutoPulse as part of the standard of care in cardiac resuscitation.”
Mr. Packer commented on the transaction, “The strength of our balance sheet has allowed us to get involved in what we believe is the most important resuscitation advance since the introduction of the AED. This investment can allow ZOLL to provide a product solution where there has been none in the past, and to a currently unserved patient segment that provides a tremendous growth opportunity. The transaction will not have a negative financial impact on our results in FY 2004, yet offers the opportunity for significant incremental profitability in the following years. The earnout and milestone structure of this potential acquisition allows ZOLL to make our major financial commitment later, when Revivant's product has proven itself in the marketplace and its performance can support the acquisition cost. We see this technology as a key piece of our strategy to broaden our product line in the area of resuscitation.”
Sudden Cardiac Arrest (SCA) is the number one cause of death in the United States , accounting for more than 450,000 deaths each year. SCA occurs when the heart abruptly and without warning ceases to function. Brain ischemia and death start to occur in four to six minutes after the onset of cardiac arrest. It is estimated that more than 95% of victims die before reaching the hospital.
SG Cowen Securities Corporation acted as financial advisor to Revivant Corporation and U.S. Bancorp Piper Jaffray acted as financial advisor to ZOLL Medical Corporation.
About Revivant
Revivant Corporation, headquartered in Sunnyvale , CA , designs, manufactures and markets AutoPulse, a patented, FDA approved medical device that automates cardiopulmonary resuscitation, or CPR. Revivant has a direct sales force and a distributor partner, Tri-anim Health Services, Inc., that markets the AutoPulse to fire departments, Emergency Medical Systems and hospitals. Revivant was formed in 1997 and commercially launched the AutoPulse in 2003. For more information about Revivant and its products, visit the Revivant website at www.revivant.com.
About ZOLL
ZOLL Medical Corporation, headquartered in Chelmsford , MA , designs, manufactures and markets an integrated line of proprietary, non-invasive resuscitation devices and disposable electrodes. Used by health care professionals to provide both types of cardiac resuscitation—pacing and defibrillation—these products are essential in the emergency treatment of cardiac arrest victims, both inside and outside the hospital. ZOLL also designs and markets software that automates collection and management of both clinical and non-clinical data for emergency medical service providers. ZOLL has operations in the United States , Canada , United Kingdom , Germany , France, the Netherlands and Australia , and business partners in all of the world's major markets. For more information about ZOLL and its products, visit the ZOLL website at www.zoll.com.
Kenneth E. Ludlum Joins Revivant Corporation as President & Chief Executive Officer
Sunnyvale, CA – July 17, 2003
Revivant Corporation today announced that Kenneth E. Ludlum has been appointed its President & Chief Executive Officer. Mr. Ludlum brings more than 20 years of experience in the healthcare industry including both operating and financing roles. Revivant manufactures the AutoPulse Resuscitation System, a non-invasive, technologically-advanced solution designed to improve blood flow to the heart and brain during resuscitation from sudden cardiac arrest (SCA).
"Ken brings a wealth of experience in developing business strategy and managing growing organizations," said Thomas J. Fogarty, M.D., Founder and member of the Board of Directors of Revivant Corporation. "We are very pleased to have Ken join our company to head up the management team at this critical juncture of the Company as we are scaling up to commercialize the AutoPulse technology."
Steve Bystrom, co-founder, former President and CEO of Revivant concurred. "I am pleased we've chosen Ken to continue our mission," stated Bystrom, who recently stepped down from the leadership of the Company to focus on overcoming Hodgkin's lymphoma. Mr. Bystrom, whose disease is in remission, will continue to be active on Revivant's Board of Directors. "The AutoPulse system is destined to advance the practice of resuscitation and help save lives. I look forward to working with the Company in a Board capacity well into the future".
Mr. Ludlum is a seasoned medical device company executive who has held a variety of finance and operating executive positions with a number of medical device and biotech companies. Immediately prior to joining Revivant, Mr. Ludlum was an advisor and consultant to several companies in the medical technology and biotechnology industries. His former positions in the medical device industry include serving as Vice President - International Operations at Endovasix Inc., a catheter company treating ischemic stroke. From 1996 to 2000, he was Chief Financial Officer at Perclose, Inc. a cardiology products company. During his five years at Perclose, sales grew from $2 million to a rate of $100 million a year when he left in mid- 2000 following Perclose's sale to Abbott Laboratories.
Earlier in his career he was an investment banker, primarily with the former Montgomery Securities, where he was a partner working with healthcare companies. He currently serves on the boards of several private and public companies. Previously, he served on the board of Bridgeway Plan for Health, an HMO subsidiary of Children's Hospital of San Francisco , the Children's Hospital finance committee, and the board and several committees of Children's Hospital's successor, the California Pacific Medical Center .
"Revivant's AutoPulse has the potential to revolutionize the way CPR is provided for both in- hospital and out-of-hospital cardiac arrest," Ludlum stated. "I am very excited by the opportunity to join Revivant at this point in its development. I look forward to leading the organization to introduce and establish this technology as the industry standard of care for cardiac resuscitation within the medical community."
About Revivant and AutoPulse
Revivant Corporation is a privately held medical technology company using proprietary technology to treat sudden cardiac arrest both in and out of the hospital. The Sunnyvale , California based Company was founded in 1997 by Thomas J. Fogarty M.D., who pioneered the first balloon catheter.
SCA is a leading cause of unexpected death in the world. In the U.S. , more than 460,000 people each year will suffer from SCA; 90 percent of them will die. Developed by Revivant, the non-invasive, patented AutoPulse system is designed to improve blood flow to the heart and the brain during the critical period of resuscitation. The system was engineered based on the latest scientific understanding of coronary physiology and the biomechanics of circulation. Portable and rapidly deployable, the battery-operated AutoPulse system delivers accurate, consistent chest compressions and frees rescuers to perform other tasks. The AutoPulse Resuscitation System is commercially available in the US .
For more information visit the Company's website at www.revivant.com.
Kim Blickenstaff of Biosite Joins GeneOhm's Board of Directors - Diagnostics Leader Brings Valuable Experience
San Diego, CA - July 15, 2003
Kim D. Blickenstaff, the co-founder, President and CEO of Biosite Incorporated, has joined the Board of Directors of GeneOhm Sciences effective June 30, 2003.
Blickenstaff has helped build Biosite into a leading diagnostics firm, successfully taking it from start-up of four employees through $55 million in venture capital, an IPO, and into today's status as a leader in its category with projected revenues of $165 million in 2003.
“His proven entrepreneurial track record of building a successful diagnostics firm provides GeneOhm with tremendous expertise as we develop our product and company infrastructure,” said Peter Klemm, President & CEO. “He understands the current diagnostics industry and how to manage the business-growth cycle that adds value in each phase of a company's development.”
“GeneOhm has put together an impressive plan and a world-class team of scientists. Their products address serious unmet needs in the rapidly growing area of molecular diagnostics,” noted Blickenstaff. “I'm looking forward to contributing to GeneOhm's development as it progresses toward commercialization.”
GeneOhm's technology allows clinicians to rapidly and inexpensively identify mutations in a patient's genome or detect pathogenic organisms that cause infections diseases. This proprietary multiplex platform is expected to become the primary system clinicians use to apply molecular diagnostics to individual patient care.
The benefits of GeneOhm's platform include:
• Multiplexed, array based assays that address several different analytes in a single test
• A platform capable of detecting single nucleotide polymorphisms (SNPs) and other sequence variations, as well as bacterial and viral DNA or RNA
• A binary readout that is unequivocal due to the measurement technology's unique high specificity and sensitivity
• A reader, software, and array format that is inexpensive, easy to use, and designed to easily fit into a laboratory's or clinician's office's workflow.
GeneOhm's first product launch planned for 2004 will introduce its multiplex inherited disease tests; the company is developing follow-on products for infectious diseases that will provide rapid response diagnostic tests.
GeneOhm is actively discussing strategic partnerships with a number of global diagnostics, electronics, and pharmaceutical companies.
About GeneOhm Sciences, Inc.
GeneOhm Sciences is a fast-growing molecular diagnostics company located in San Diego , CA . The company is applying its integrated, proprietary technology portfolio, which includes electrochemistry, sample preparation, and chip fabrication, to serve the unmet diagnostic needs in a wide range of diseases including inherited diseases, cardiovascular diseases, infectious diseases and oncology. Established in 2001 with technology developed over a decade by Professor Jacqueline K. Barton at the California Institute of Technology, GeneOhm Sciences has attracted a group of outstanding investors and scientists with years of experience in the life sciences and electronics fields. The company is planning to launch its first diagnostic product in 2004.
Bionaut Pharmaceuticals Secures Series A Funding; Appoints Kees Been as Chief Executive Officer
Cambridge, MA – July 8, 2003
Bionaut's Breakthrough Sentinel Technology Elucidates Pathways to Cures
Bionaut Pharmaceuticals, Inc. announced today the expansion of its series ‘A' financing to $6.8 million and the appointment of Kees Been as Chief Executive Officer. Kees joins Bionaut from Biogen to lead the Company's discovery and development of novel small molecule drug candidates. Bionaut utilizes its Sentinel Pathway Reporter System to correlate genetic activity in well-validated disease pathways directly with disease modulation in living cells.
Collinson, Howe & Lennox of Stamford , Connecticut and HealthCap Venture Capital of Stockholm, Sweden were among the investors that participated in the series ‘A' round. Proceeds from the financing will be used to expand the Company's cancer and inflammation cell lines and to develop a pipeline of pharmaceutical drug candidates. Bionaut's technology bypasses the need to first discover and validate presumptive biological targets. The Company's Chief Executive Officer, Kees Been, commented, “Our technology offers a rapid and elegant way to comprehensively elucidate complicated disease pathways in human cell lines and discover drugs in real-time that exclusively affect those pathways.”
Timothy Howe, Partner at Collinson, Howe & Lennox, and member of Bionaut's Board of Directors added, “We are very pleased to have Kees on board. His experience in biotech drug development will be instrumental as Bionaut moves to discover and develop its own small molecule drugs.”
About the Sentinel Pathway Reporter System
Unraveling the complex regulatory mechanisms of disease remains a key objective in drug discovery. Bionaut's drug discovery platform, based on engineered cell lines, generates a better understanding of how different pathways regulate disease. The company uses its proprietary Sentinel Pathway Reporter System™ to tag specific disease-related genetic sites and directly monitor activity in regulatory pathways. This core technology provides a positive means of discovering novel compounds that selectively modulate pathways of interest, thus avoiding drug side-effects and potential drug failure due to a lack of pathway specificity and redundancy issues. Bionaut's Sentinel system could dramatically shorten the traditional 3 to 5 year “gene-to-screen” drug discovery process and lead to compounds with a high probability of success in the clinic.
The Bionaut Leadership Team
Bionaut was founded to commercialize the discoveries of its President and Chief Scientific Officer, Mehran M. Khodadoust, Ph.D, formerly a scientist at Millennium Pharmaceuticals. In addition, Bionaut's management team includes newly appointed CEO, Kees Been and Executive Vice President and Chief Operating Officer, Thomas Klein. Kees Been has over 10 years of experience in the biotechnology and pharmaceutical industries. Most recently, he served as Senior Vice President of Biogen's Oncology Business Unit. Earlier in his tenure at Biogen, Kees was responsible for all of the Company's activities in business development, mergers and acquisitions, corporate strategy and portfolio management.
Bionaut has assembled a highly experienced Board of Directors which includes industry leaders William J. Herman, former Chairman & CEO, Innoveda; Timothy F. Howe, Partner, Collinson, Howe, & Lennox; and Harold E. Selick, Ph.D., former CEO of Camitro Corporation and Vice President of Research at Affymax Research Institute. Bionaut's Science Advisory Board consists of individuals with expertise in immunology, molecular biology and cancer drug discovery, and is chaired by Richard A. Flavell, Ph.D., currently Chairman of the Department of Immunology at the Yale University School of Medicine and fellow with the Howard Hughes Medical Institute.
About Bionaut
Bionaut is discovering and developing novel small molecule drugs that selectively affect well-validated disease pathways utilizing its Sentinel Pathway Reporter System. Bionaut's Sentinel system can greatly improve the clinical outcomes of new and existing drug candidates by correlating pathway-specific interference directly with disease modulation in living human cells. Bionaut is applying the highly predictive capabilities of its Sentinel system to build a pipeline of its own drug candidates in the areas of cancer and inflammation and to assist strategic partners with drug discovery and lead optimization in a variety of disease areas.
Bionaut is a private biotechnology company founded in 2000, based in Cambridge , MA . More information is available at www.bionautpharma.com.
Eunoe, Inc. Completes Initial Closing of $40 Million Private Placement
Redwood City, CA - June 24, 2003
Eunoe, Inc., the developer of the COGNIShunt System currently being investigated in a Phase III clinical study for the treatment of Alzheimer's disease, today announced it has completed the initial closing of a $40 million dollar private placement of preferred stock. Led by Domain Associates, L.L.C, the financing includes additional new investors CHL Medical Partners, Schroder Ventures Life Sciences, BA Venture Partners and Affinity Ventures, with participation from existing stockholders, including Piper Jaffray Ventures and Vanguard Venture Partners.
"The quality of our investors, as well as Eunoe's success in securing up to $40 million in the current economic climate, is a significant achievement and provides validation for what the Eunoe team is trying to accomplish," said C. Raymond Larkin Jr., Chairman and CEO of Eunoe, Inc. "This financing will allow us to continue to fund the completion of the COGNIShunt Phase III clinical investigation to determine whether use of the COGNIShunt slows the progression of Alzheimer's disease in patients diagnosed in the early to moderate stages. We share our investor's confidence in our ability to successfully execute the clinical work in this important and underserved therapeutic area.”
The COGNIShunt System is a proprietary, implantable device designed specifically to treat patients with adult onset dementia (e.g. Alzheimer's disease). It is designed to increase the flow of cerebrospinal fluid (CSF) and improve clearance of neurotoxins from the CSF that are believed to contribute to the progression of Alzheimer's disease. The COGNIShunt is similar to a hydrocephalus VP shunt in that it diverts CSF from the brain to the peritoneal cavity, where the body absorbs the CSF. The Eunoe shunt operates differently from standard VP shunts since it allows for continuous, slow drainage of CSF.
Eunoe plans to enroll at least 256 patients at up to 25 sites across the U.S. in the pivotal Phase III study. Phase I/II feasibility study results, published in the October 22, 2002 issue of the journal Neurology, indicate that COGNIShunt may slow the progression of Alzheimer's disease symptoms and support that COGNIShunt is well tolerated in Alzheimer's disease patients. In this study, 29 patients with mild to moderate Alzheimer's disease were randomly assigned to either no active treatment or shunt implantation. Data showed a marked difference in mental function over time, with better preservation of mental ability in shunted patients versus the control group. In addition, CSF levels of the potentially neurotoxic proteins found in Alzheimer's disease brain lesions, such as MAP-Tau and B-Amyloid (1-42), declined in shunted patients and remained lower than their initial levels, even after twelve months. Importantly, no subject had symptoms of over drainage, the side effect the shunt was specifically designed to avoid.
Eunoe, Inc. is a San Francisco Bay-area medical device company focused on the treatment of neurological disorders through the management of cerebrospinal fluid. For additional company background, please visit the Eunoe web site at: www.eunoe-inc.com.
Cellular Genomics Inc. Develops Unique Kinase Drug Discovery Model - Company to Present at the Biotechnology Industry Organization's 2003 Annual Convention
Branford, CT – (PRNewswire) - June 23, 2003
Cellular Genomics Inc. (CGI) today announced the successful development of a breakthrough drug discovery model for protein kinases, a major class of drug targets. Louis Matis, M.D., President and Chief Executive Officer of Cellular Genomics, will discuss this novel technology, as well as CGI's progress in its ongoing kinase drug discovery and development programs, today at 10:15 AM at the BIO 2003 Conference in Washington, DC as part of a panel titled, "Strength in Diversity: An Integrated Drug Discovery Pipeline." CGI's cutting-edge approach is based on the discovery of Analog Sensitive Kinase Alleles (ASKAs). ASKAs are genetically modified kinases that retain all the functions of normal kinases, but can be potently inhibited with exquisite specificity by proprietary small molecule analog inhibitors.
In an important advance, CGI has now shown that mice expressing the ASKA version of an angiogenesis/cancer kinase fully rescue the lethal phenotype associated with the gene knockout of this kinase. This promising drug target can now be studied for the first time in pharmacologically relevant in vivo models of cancer and angiogenesis, in parallel with CGI's ongoing drug discovery program. The demonstration that in vivo expression of ASKA kinases can rescue lethal phenotypes that commonly result from kinase gene knockouts establishes ASKA as a breakthrough technology for the investigation of multiple kinase targets.
ASKA mice are created by replacing the normal kinase in the genome with a fully functional ASKA. The target kinase can then be specifically and reversibly inhibited in vivo by systemic administration of CGI's analog inhibitors.
"The successful generation of these unique in vivo models, which have now been established for two of our lead drug discovery programs in autoimmune disease and cancer/angiogenesis, represents a key milestone for CGI, and significantly enhances our internal drug development efforts," said Dr. Matis. "As our kinase drug discovery programs have generated potent, selective lead compounds for these major clinical indications, concurrent studies utilizing our ASKA mice will provide us with a significant advantage as we advance our compounds toward the clinic."
About Kinases
Protein kinases, the largest family of cellular enzymes, are a major class of drug targets across a broad range of clinical indications. Kinases regulate critical pathways involved in cell growth, activation, and death, and have been implicated in a wide range of diseases.
About ASKA Mice
ASKA mice represent unique preclinical disease models for investigating the role of kinase targets across a wide spectrum of clinical indications, and provide a new gold standard for kinase target validation, dose response analysis, and therapeutic index determination.
CGI believes that ASKA mice have significant advantages over gene knockout mice, a widely used model for validation of drug targets. In contrast to knockout mice, where the target is irreversibly deleted, ASKA mice express the target normally, and the target is amenable to highly specific, dose dependent, reversible inhibition, much more analogous to an actual clinical setting. Further, since kinases play critical roles in development, many kinase gene knockouts result in embryonic lethal phenotypes and thus cannot be studied in adult models of disease.
About Cellular Genomics Inc. Cellular Genomics Inc. (CGI) is a privately held genomics-based biopharmaceutical company that is pioneering a unique, highly integrated chemical genetics platform for drug discovery and development. The company has established small molecule drug discovery programs focused on discovering and developing signal transduction inhibitors for the treatment of autoimmune/inflammatory diseases and cancer.
CGI's proprietary chemical genetic, functional genomic, and proteomic technologies, which have broad application to drug discovery across a range of major clinical indications, couple unprecedented rigor in the identification and validation of novel drug targets directly to unique drug discovery capabilities, including drug screens and compound libraries. CGI is leveraging all of these capabilities to advance its own internal drug development programs as well as to establish partnerships with pharmaceutical companies. Within the past year, the Company announced research collaborations with Serono SA, Schering AG, and Pfizer, all of which involve the utilization of CGI's ASKA mice for partners' kinase drug discovery programs.
Sunnyvale First City to Deploy AutoPulse Resuscitation System
Sunnyvale, CA – June 11, 2003
The City of Sunnyvale is the first city in the nation to have deployed the AutoPulse Resuscitation System for use by public safety officers providing emergency medical services.
AutoPulse is a battery-powered system that provides automated chest compressions during the administration of cardiopulmonary resuscitation (CPR). The AutoPulse system consists of a rigid backboard and a flexible band that is strapped across the patient's chest. The patient is quickly and easily placed on the backboard after which AutoPulse automatically fits itself to the patient.
The band can compress a greater area of the chest than manual CPR. Tests of the system have indicated a significant improvement in generating more blood flow over conventional CPR chest compressions, increasing the possibility of a successful rescue.
Revivant Corporation of Sunnyvale manufactures AutoPulse. "We are tremendously encouraged by the results we have seen with the Sunnyvale Department of Public Safety while working with Revivant to demonstrate the effectiveness of the AutoPulse Resuscitation System" said Ken Ludlum, President and Chief Executive Officer of Revivant Corporation. "As the first EMS agency in the world to deploy this innovative new technology, Sunnyvale 's vision, leadership and commitment to EMS excellence has not only benefited the citizens of Sunnyvale , but has led the way for other communities to advance the treatment of sudden cardiac arrest."
Revivant Corporation honored the City of Sunnyvale by awarding plaques to the City marking Sunnyvale 's role in deploying AutoPulse systems. The awards were made at the June 10 City Council meeting.
Sunnyvale Mayor Julia Miller received one of the plaques on behalf of the City. “ Sunnyvale has been rated the fifth-safest city in America ,” observed Mayor Miller. “That relates to crime statistics. But we have made equally giant strides in emergency medical care. First with our Public Access Defibrillator program which has saved numerous lives and now with the use of the AutoPulse system, Sunnyvale is proud of the leadership role we have taken.”
Genomic Health, Inc. Announces Encouraging Results from Clinical Trials of Genomic Tests to Predict Breast Cancer Recurrence and Response to Chemotherapy and Response to EGFR Inhibitor Therapy in Lung Cancer
Chicago, IL – June 2, 2003
Trials Validate Approach of RNA Analysis in Stored Pathology Tissues; Large-Scale Trials Underway in Breast Cancer Recurrence
Genomic Health, Inc. today announced encouraging preliminary data in clinical trials using a novel approach to molecular pathology. RNA analysis of thin sections of standard tumor biopsies were used to evaluate panels of genes that may predict breast cancer recurrence and response to chemotherapy as well as response to EGFR inhibitor therapy in lung cancer. Based on promising results, Genomic Health has begun large-scale clinical trials that will examine prospectively-defined endpoints in breast cancer recurrence and plans to conduct similar large-scale trials looking at response to chemotherapy and EGFR inhibitor therapy. Clinical trial findings were presented at the annual meeting of the American Society of Clinical Oncology (ASCO).
Genomic Health has perfected the technology to do genomic analysis in fixed paraffin-embedded tissues (FPET), stored tumor tissue samples collected over the past 20 years. "The feasibility of RNA expression profiling using fixed tumor tissue represents a significant advance," said George Sledge, M.D., professor of medicine, Indiana University . "Instead of waiting years to accumulate fresh tissue and track patient outcomes, Genomic Health's FPET analysis can be performed using routinely stored biopsies from patients with known outcomes therefore accelerating clinical trials," said Dr. Sledge.
Working with its clinical collaborators, Genomic Health has followed a rigorous, phased product development approach. Its technology has been used in numerous clinical trials, four of which were presented at this year's ASCO meeting. Two clinical trials studied breast cancer recurrence (Abstract #3415 and #3416), and one trial looked at response to chemotherapy in breast cancer patients (Abstract #3466). A fourth trial examined a panel of genes that may predict response to EGFR inhibitor (Iressa®) therapy in lung cancer patients (Abstract #763).
Breast Cancer Recurrence and Response to Chemotherapy
Encouraging results from the breast cancer recurrence trials have led Genomic Health to initiate three large-scale clinical trials. Results of these trials are expected within the next 12 months. If validated in large-scale trials, Genomic Health's test could become the first commercially available multi-gene individualized genomic service for cancer patients.
"Until now, the only indications we have had of long-term prognosis in breast cancer were tumor size and the number of involved nodes," said Melody Cobleigh, M.D., oncologist and director of the Comprehensive Breast Cancer Clinic at Rush-Presbyterian-St. Luke's Medical Center in Chicago . "This technology will allow us to tailor a prognosis to an individual patient, using a small panel of genes selected from thousands of genes," said Cobleigh.
It is also important to know which patients are likely to respond to chemotherapy. Genomic Health identified a distinct panel of genes, which, depending on the levels of expression, were correlated with increased or decreased patient response to chemotherapy. Together, recurrence and response to chemotherapy represent a significant step toward individualized therapy.
Response to EGFR Inhibitor Therapy in Lung Cancer
Also presented at ASCO was a study that identified a panel of genes that correlated with tumor response to EGFR inhibitor therapy in lung cancer patients. This research, conducted and presented by Dr. David Agus, Research Director of the Louis Warschaw Prostate Cancer Center at Cedars-Sinai Medical Center, and Dr. Ronald Natale, Acting Medical Director of the Cedars-Sinai Comprehensive Cancer Center, showed that the approach developed by Genomic Health may provide information that is critical to determining the appropriate patient for EGFR inhibitor therapy thus maximizing its benefit. Further study on a large scale is necessary to validate these preliminary findings, and Genomic Health is in discussions concerning these trials.
In 2003, the American Cancer Society estimates that cancer will kill 556,500 Americans, and more than 1,300,000 new cancer cases will be diagnosed. Among the many challenges these patients will face, one of the most difficult will be deciding on a treatment approach. The need for better prognostic information in cancer is vital in many circumstances to improving treatment decisions and disease outcomes. Current treatment practice, with limited understanding of the differences in individual tumors, often leads to undertreatment of some patients and overtreatment of others. Potential new drugs that are designed to provide more targeted treatment offer exciting hope for patients. However, a crucial need in developing and bringing these drugs to market is identifying and testing the patients, who, based on their individual tumor molecular signatures, are most likely to benefit.
"Genomic Health is pioneering the practical application of genomic analysis to the treatment of cancer." said Randy Scott, Ph.D., Chairman and CEO of Genomic Health and co-founder of Incyte, the world's first genomic information business. "We believe that our unique analysis has the potential to unlock the relevant genomic information of each patient and allow individualized treatment of their cancer," said Dr. Scott.
Founded in August of 2000 and located in Redwood City, California, Genomic Health, Inc. is building an oncology-based health care services company for physicians and patients to provide individualized genomic analysis of tumor biopsies. Genomic Health has pioneered the use of high-throughput analysis of fixed paraffin-embedded tissues to obtain and clinically validate genomic information in large-scale clinical trials. Genomic Health is using this extensive clinical experience to develop validated genomic services to provide individualized information on the likelihood of disease recurrence and response to therapy. Genomic Health's goal is to improve the quality of treatment decisions for patients with cancer. Genomic Health has the financial backing of some of the world's leading capital and financial institutions, including Kleiner Perkins, JP Morgan, Versant Ventures, Texas Pacific Group and Baker Tisch.
DURECT Corporation Presenting at The CIBC World Markets Annual Biotechnology and Specialty Pharmaceuticals Conference
Cupertino, CA - April 28, 2003
DURECT Corporation (Nasdaq: DRRX) announced today that it will present at the CIBC Annual Biotechnology and Specialty Pharmaceuticals Conference. The conference is being held at the Millennium Hotel in New York City. James E. Brown, DVM, Chief Executive Officer, will be presenting at the conference on Wednesday, April 30, 2003 at 11:30 a.m. EDT.
A live audio webcast of Dr. Brown's presentation will be available by accessing DURECT's homepage at http://www.durect.com and clicking "Investor Relations".
DURECT Corporation (www.durect.com) is pioneering the development and commercialization of pharmaceutical systems for the treatment of chronic debilitating diseases and enabling biotechnology-based pharmaceutical products. DURECT's goal is to deliver the right drug to the right site in the right amount at the right time. In addition to its rights to the CHRONOGESIC® product, DURECT owns three proprietary drug delivery platform technologies, including the SABER™ Delivery System (a patented and versatile depot injectable useful for protein delivery), the MICRODUR™ Biodegradable Microparticulates (microspheres injectable system) and the DURIN™ Biodegradable Implant (drug-loaded implant system).
Lee Rauch Joins Point Biomedical as Chief Business Officer Business Editors and Medical/Health Writers
San Carlos, CA - (BUSINESS WIRE) - April 24, 2003
POINT Biomedical Corp. announced today that Lee Rauch has joined POINT as Chief Business Officer. Ms. Rauch will be responsible for business development, marketing and sales. "We are extremely pleased that Lee has joined our management team. Lee adds a new dimension to our team and brings the expertise we need to commercialize our lead product, CardioSphere®," said Jerry Griffin, M.D., President and C.E.O. of POINT Biomedical.
Jon Saxe, Chairman of the Board of Directors of POINT said, "I'm delighted that we attracted Lee Rauch to lead our commercial efforts at POINT. With Phase 3 trials of CardioSphere nearing completion, the timing is perfect to add an executive with demonstrated leadership in pharmaceutical business development, marketing and sales. We are confident she will help us maximize the value of CardioSphere and other products under development. "
"Point Biomedical is at a pivotal stage in its growth. I was attracted by the POINT's unique bisphere technology and its economic potential. I am eager to help bring Cardiosphere and POINT's other products to the market", said Lee Rauch.
Ms. Rauch has over 20 years of experience in the pharmaceutical industry. Since 1999, she served as Senior Vice President, Corporate Development first for COR Therapeutics, Inc, and later for Millennium, South San Francisco. At COR, she was responsible for strategic planning and all deal-related activities including the strategic initiative that resulted in the $2 billion acquisition of COR by Millennium in 2002. Prior to that, Ms. Rauch held numerous marketing and business development management positions including Vice President of New Product Planning at Syntex. She continued on as Vice President of Strategic Marketing after Syntex was acquired by Hoffman-La Roche. She earned her undergraduate degree in chemistry from Arizona State University and earned her M.B.A. at the University of Chicago.
About POINT Biomedical:
POINT Biomedical is developing novel technology platforms for imaging and drug delivery applications. The lead product, CardioSphere, is an ultrasound-imaging agent for assessing myocardial perfusion, which is currently in Phase 3 clinical testing in the United States. Depending upon the outcome of the Phase 3 trials, CardioSphere could allow a cardiologist to determine the state of a patient's coronary artery circulation in the office setting, without the use of radioactive isotopes.
Cellular Genomics Appoints Leading Industry Consultant To Key Drug Development Position - Dr. Paul I. Nadler to Serve as Vice President of Medical Research for CGI
Branford, CT – (PRNewswire) - April 16, 2003
Cellular Genomics, Inc. (CGI) today announced that Paul I. Nadler, M.D., FCP, FACP, has been named Vice President of Medical Research. Dr. Nadler will be working directly with CGI's executive and scientific management teams in advancing the Company's internal drug discovery and development programs. Dr. Nadler is a Managing General Partner of Nadler Pharma Associates, LLC, a consulting firm he founded in 1998 specializing in preclinical and clinical development as well as regulatory affairs.
"We are very pleased to have Paul and his team working closely with us as we aggressively advance our drug discovery programs toward the clinic and build our internal drug development infrastructure," said Louis Matis, M.D., President and Chief Executive Officer of CGI. "The extensive expertise of Paul and his team, and their years of experience in working with pharmaceutical and biotechnology companies, will greatly enhance our drug development efforts."
Dr. Nadler has more than 25 years experience in basic research and clinical trials. His experience in clinical development encompasses oncology, virology, as well as immunologically mediated and inflammatory diseases. Prior to founding Nadler Pharma, Dr. Nadler served as Chief Medical Officer for Kern McNeill International. Before that he was Vice President, Medical and Regulatory Affairs with Protein Design Labs, Inc. where he also had responsibility for preclinical development. He previously held positions with Sandoz Research Institute, Knoll Pharmaceuticals, and Hoffmann La Roche, Inc. Dr. Nadler received his M.D. from Washington University School of Medicine. He trained in Internal Medicine at Barnes Hospital/Washington University Medical Center and spent five years in the Immunology Branch of the National Cancer Institute. In 2000, Dr. Nadler co-founded BioPharmAnalysis an organization providing analysis and due diligence services to the biotech, pharmaceutical, VC, and investment industries.
“CGI has made impressive and rapid progress in advancing its drug discovery programs," said Dr. Nadler. "I look forward to working with the Company as it expands its internal clinical programs and advances its pipeline."
About Cellular Genomics, Inc.
Cellular Genomics, Inc. (CGI) is a privately held genomics-based biopharmaceutical company that is pioneering a unique, highly integrated chemical genetics platform for drug discovery and development. The company has established small molecule drug discovery programs focused on discovering and developing kinase inhibitors targeting autoimmune/inflammatory diseases and cancer.
CGI's proprietary chemical genetic, functional genomic, and proteomic technologies, which have broad application to drug discovery across a range of major clinical indications, couple unprecedented rigor in the identification and validation of novel drug targets directly to unique drug discovery capabilities, including drug screens and compound libraries.
CGI is leveraging all of these capabilities to advance its own internal drug development programs as well as to establish partnerships with pharmaceutical companies.
Within the past year, the Company announced research collaborations with Serono SA, Schering AG, and Pfizer. Please visit http://www.cellulargenomics.com for additional information.
Innovative Development in Treatment of Sudden Cardiac Arrest to be Distributed by Tri-anim
Sylmar, CA/Sunnyvale, CA - March 18, 2003
Revivant Corp. and Tri-anim have entered into an agreement for Tri-anim to distribute the AutoPulse™ Resuscitation System, a non-invasive, technologically-advanced solution designed to improve blood flow to the heart and brain during resuscitation from sudden cardiac arrest (SCA).
Revivant's choice of Tri-anim as its U.S. distributor for the AutoPulse system reinforces Tri-anim's position as a source for new products. "For more than 27 years, we have been introducing new, life-saving technology to the healthcare market," said Dan Pearson, Tri-anim Vice President Sales & Marketing. "Revivant believed that successfully launching this technology required an organization with a large, well-trained sales staff (117) capable of interfacing with both pre-hospital and hospital caregivers."
The AutoPulse™ Resuscitation System by Revivant Corporation provides chest compressions during CPR for adult cardiac arrest victims. The 22-pound device consists of a battery-operated electromechanical platform and a load-distributing band that fastens across the chest. The automated system achieves chest compressions by retracting the band into the platform at a rate of eighty times per minutes, forcing blood to circulate.
Researchers who tested the AutoPulse system on 20 pigs in cardiac arrest found that blood flow to the heart during VF was about three times greater when AutoPulse was used as compared to conventional CPR. When epinephrine was administered, the AutoPulse system generated blood flow to the heart and brain equivalent to 100% of normal levels. Results of this study were presented in 2002 at the American Heart Association's 75th annual Scientific Sessions.
"The key to restoring viability is to wash out the waste and move oxygenated blood to the vital organs," says Henry R. Halperin, M.D., lead author of the study and professor of medicine and biomedical engineering at John Hopkins University. "The band can compress a greater area of the chest than manual compressions, so it restores more blood flow than manual CPR. Wherever a health care professional would do manual CPR, a device like this could be better for the patient."
Added Joseph P. Ornato, M.D., Professor and Chairman for the Department of Emergency Medicine at Virginia Commonwealth University Health System's Medical College of Virginia and who also chairs the Steering Committee for the NIH-sponsored Public Access Defibrillation trial, "Standard CPR is far from optimal and usually provides only marginal blood flow to vital organs. Achieving blood flow and getting the heart started again involves a matrix of physiological factors that have been studied for decades. While there is no magic bullet, we are close to bringing to market technology that has the potential to revolutionize how we save lives."
SCA is a leading cause of unexpected death in the world. In the U.S., more than 460,000 people each year will suffer from SCA; 90 percent of them will die. "I believe that sudden death not only can, but must, become a treatable event," said Norman Paradis, M.D., Senior Medical Director at University of Colorado Hospital and a member of American Heart Association's ACLS Subcommittee since 1990. "This [Revivant technology] technique for generating blood flow could be among the most important developments in the treatment of sudden cardiac arrest in the past 30 years."
About Revivant and AutoPulse
Revivant Corporation is a privately held medical technology company that was founded to develop and market proprietary technology to treat sudden cardiac arrest both in and out of the hospital. The Sunnyvale-based Company was founded in 1997 by Thomas J. Fogarty M.D. who pioneered the first balloon catheter.
Developed by Revivant, the non-invasive AutoPulse system is designed to improve blood flow to the heart and the brain during the critical period of resuscitation. The system was engineered based on the latest scientific understanding of coronary physiology and the biomechanics of circulation. Portable and rapidly deployable, the battery-operated AutoPulse system delivers accurate, consistent chest compressions and frees rescuers to perform other tasks. For more information visit the Company's website at www.revivant.com.
About Tri-anim
Tri-anim is the nation's dominant specialty products supplier for EMS, respiratory and anesthesia. For more than 27 years, Tri-anim has met the needs and exceeded the expectations of providers throughout the healthcare continuum, including hospitals, long-term care facilities, surgery centers, nursing homes, and emergency medical services (EMS). All orders received‹until 5 pm‹are shipped the same-day from one of 13 distribution centers nationwide.
Tri-anim is also an industry leader in providing e-commerce solutions that make it faster and more efficient for customers to procure medical products. The company introduced the industry's first Internet catalog in 1995, and has a patent pending on the e-Quick® System, a technology that requires less than 45 seconds to place a five-line order. For more information about Tri-anim, go to www.Tri-anim.com.
Molecular Staging Receives Grant To Create Affordable Large Population Genomic DNA Collections
New Haven, CT - February 4, 2003
Molecular Staging Inc (MSI) today announced that the National Institute of Diabetes and Digestive and Kidney disease (NIDDK) of the National Institutes of Health has awarded it and The Scripps Research Institute (TSRI) a grant to produce large samples of valuable genomic DNA, which will be made widely available to the scientific community for ongoing genetic disease studies.
The grant could provide for funding of as much as $2.5 million, over two-and-a-half years, toward proof-of-concept and commercialization efforts aimed at filling this void for the scientific community.
The availability of large numbers of individual DNA samples from well-characterized human population groups is limited for many researchers. This is because most extensive population samples are owned by a few private corporations and are not available to the biomedical community as a whole.
MSI will use its proprietary REPLI-g™ whole genome amplification method to make multiple copies of 8,000 DNA samples. The REPLI-g whole genome amplification technology can extract and amplify the entire human genome many thousand-fold with unmatched accuracy in a few steps. Under the supervision of Ernest Beutler, M.D., Professor and Chairman of the Department of Molecular & Experimental medicine, TSRI will provide the samples from its extensive collection of DNA, drawn from patients who have previously given informed consent. MSI will amplify the DNA and prepare the samples into microtitre plate arrays, which will be offered for use to the scientific community for DNA-related studies. The development of automated systems for high throughput amplification and quality control testing should make it possible to provide as many copies of these samples as needed.
“The Scripps Research Institute is proud to be associated with this project, which will benefit the entire scientific community at large,” stated Dr. Beutler. “This project holds tremendous implications for the future of DNA research because it will allow for human population studies to be performed across a wide range of disciplines. Scientists will no longer be impeded in such studies because of the lack of availability of DNA samples from subjects who have given informed consent.”
“We are very pleased to have the opportunity to demonstrate the value of REPLI-g whole genome amplification on such an important initiative,” said Michael Egholm, Ph.D., Senior Vice President of Research and Development at MSI. “We are confident that success in this collaboration with The Scripps Institute will further establish REPLI-g whole genome amplification as the gold standard in expanding access to valuable DNA collections.”
MSI launched a range of whole genome amplification products and services last year which are being used by pharmaceutical, biotech and academic researchers who need more DNA for applications such as large scale SNP studies.
Molecular Staging Inc., a privately held life science company, is developing a portfolio of products and services based on its advanced amplification technologies, including products and services that offer a powerful new way to identify individual and multiplexed sets of biomarkers and a rapid, reliable method of generating unlimited DNA from a few cells. MSI technologies, combined with sophisticated bioinformatics, enable a wide range of transformational products and services across multiple health care markets. MSI has exclusively licensed RCAT from Yale University . Additional information about MSI can be found at www.molecularstaging.com.
George Dunbar Appointed Chief Executive Officer of Targesome – Industry Veteran Joins New Drug Development and Delivery Company
Palo Alto, CA – February 4, 2003
Targesome, Inc., a privately held biopharmaceutical company, announced today that George Dunbar has been named the company's President and Chief Executive Officer. He has also been elected a member of the Targesome Board of Directors. Mr. Dunbar is filling the position previously held by company Founder Roderick Young, who remains on the Targesome Board.
Mr. Dunbar was most recently Chief Executive Officer of Epic Therapeutics, a privately-held drug delivery company, which completed a successful merger with Baxter Healthcare Corporation at the end of last year. He was a founding member of iCEO, a service provider of executive talent to early-stage companies and has served in executive and Board roles at several private and public companies in the life sciences field.
Craig C. Taylor, General Partner, Alloy Ventures and Targesome Board Member, stated, “We are delighted that George is joining Targesome as the company begins to grow its product pipeline. He has both the drug development experience and broad-based management expertise to lead Targesome's development and corporate partnering. At the same time, we are grateful for Rod's vision and guidance to this point, and look forward to his ongoing contributions as a member of the Board.”
Mr. Dunbar commented, “I am excited by the opportunity to help Targesome commercialize its technology. Using the advantages of our proprietary nanoparticle platform, I believe we can provide a significant therapeutic advantage in oncology and other disease areas.”
Added Mr. Young, “George's in-depth knowledge of the pharmaceutical industry and his success in taking products to commercialization are a tremendous asset to Targesome. With George leading the talented management team we have in place, I feel confident that our scientific and development goals will be realized.”
Prior to joining Epic Therapeutics, Mr. Dunbar was Acting President and Chief Executive Officer of CytoTherapeutics and StemCells, Inc. He served as the first President and Chief Executive Officer of Metra Biosystems and, earlier in his career, he held senior management positions with The Ares-Serono Group, Amersham plc, and Motorola. Mr. Dunbar received his BS and MBA from Auburn University , and is currently a member of their MBA Advisory Board, College of Business . In addition, he serves on the Board of Directors of companies including Metrika, Molecular Probes, Sonus Pharmaceuticals, and Competitive Technologies, as well as the Valley Medical Center Foundation of Santa Clara County Hospital.
Targesome, Inc. is focused on the development of targeted therapeutics utilizing proprietary nanoparticle technology to produce novel, efficacious drugs. Targesome's nanoparticle technology provides delivery of drugs to the desired site of action at the appropriate dose and time to assure efficacy and safety. This technology is applicable to any compartment in the body (e.g. vasculature, articular space, or spinal fluid). Targesome's lead product is a small molecule drug-targeted nanoparticle formulation that has preclinical efficacy superior to a similar compound in Phase II clinical trials for the treatment of cancer. Targesome is located in Palo Alto , California . For more information, please contact Karen J. Brunke, Ph.D., Vice President of Business Development, (650) 842-1830 or kbrunke@targesome.com.
Molecular Staging Enters Into Proteomics Collaboration with Lilly In Disease Area of Sepsis
New Haven, CT - January 27, 2003
Molecular Staging Inc. (MSI) and Eli Lilly and Company (NYSE:LLY) announced today that they have entered into a clinical proteomics research collaboration. MSI will use its proprietary clinical proteomics platform and bioinformatics to identify biomarkers in the rapid progression of the deadly condition, sepsis. The goal is to identify opportunities for earlier intervention and improved patient outcomes.
Sepsis is the body's over-reaction to an infection that can lead to organ failure and, ultimately, death. It is one of the most challenging problems in intensive care medicine today and results in more than 200,000 deaths annually in the United States .
“MSI has specifically developed its proteomics solution with a focus on biomarker discovery and validation for clinical research, so we are very pleased to have the opportunity to work with Lilly in this important disease area,” said Dr. Stephen Kingsmore, Chief Operating Officer of MSI.
MSI's chip-based clinical proteomics platform enables the study of numerous biologically important proteins simultaneously with excellent sensitivity and the use of very limited amounts of sample. The approach uses MSI's proprietary Rolling Circle Amplification Technology (RCAT™) combined with bioinformatics and clinical knowledge. RCAT is uniquely able to amplify signals tethered to proteins, even low abundance proteins, with the thorough coverage required for effective biomarker discovery.
Molecular Staging Inc. (MSI), a privately held life science company is developing a portfolio of products and services based on their advanced amplification technologies, including products and services that offer a powerful new way to identify individual and multiplexed sets of biomarkers and a rapid, reliable method of generating unlimited DNA from a few cells. MSI technologies, combined with sophisticated bioinformatics, enable a wide range of transformational products and services across multiple health care markets. MSI has exclusively licensed RCAT from Yale University . Additional information about MSI can be found at www.molecularstaging.com.
Cellular Genomics Establishes Kinase Research Agreement with Pfizer
Branford, CT - January 22, 2003
Cellular Genomics Inc. (CGI) today announced that it has entered into an agreement with Pfizer Inc., in which CGI will apply its patented chemical genetics technologies to the study of three kinase targets selected by Pfizer. Under the terms of the agreement, CGI will receive an undisclosed upfront fee and a series of success-based milestone payments over a period of 18 months.
"We are extremely gratified to have initiated this partnership with Pfizer," said Louis Matis, M.D., President and CEO of Cellular Genomics. "This is the third collaboration we have established with a major pharmaceutical or biotech company based on our patented chemical genetics technologies." CGI's cutting-edge approach is based on the discovery of Analog Sensitive Kinase Alleles (ASKAs). ASKAs are genetically modified kinases that retain all the functions of normal kinases, but can be inhibited with exquisite selectivity and specificity by proprietary small molecule analog inhibitors.
CGI will use its ASKA technology to produce the modified ASKA kinases for Pfizer, which will then be evaluated in CGI's ASKA mouse models. ASKA mice are created by replacing the normal kinase in the genome with a fully functional ASKA. The target kinase can then be specifically and reversibly inhibited in vivo by systemic administration of CGI's small molecule inhibitors.
ASKA mice represent unique preclinical disease models for investigating the role of kinase targets across a wide spectrum of potential clinical indications, and provide a novel and innovative approach for kinase target validation, dose response analysis, and therapeutic index determination.
About Kinases
Protein kinases, the largest family of cellular enzymes, are a major family of drug targets across a broad range of clinical indications. Kinases regulate critical pathways involved in cell growth, activation, and death, and have been implicated in a wide range of diseases.
About Cellular Genomics Inc.
Cellular Genomics Inc. (CGI) is a privately held genomics-based biopharmaceutical company that is pioneering a highly integrated chemical genetics platform for drug discovery and development. CGI's platform, based on the breakthrough discovery of Analog Sensitive Kinase Alleles (ASKAs), has multiple, comprehensive applications for kinase drug discovery. Two core CGI ASKA technologies, P-target and P-inhibitor, represent unique approaches for definitive mapping of kinase cell pathways, determination of the function of individual kinases and their roles in disease, and kinase-based drug discovery and development. The Company's functional genomic and proteomic technologies couple unprecedented rigor in the identification and validation of novel drug targets directly to unique drug discovery capabilities, including proprietary drug screens and small molecule compound libraries, thus providing a comprehensive gene to drug platform. The Company has established small molecule drug discovery programs focused on developing kinase inhibitors for oncology and autoimmune/inflammatory diseases. CGI is leveraging all of these capabilities for its own, internal drug development opportunities, as well as to establish collaborative programs with pharmaceutical partners. Please visit www.cellulargenomics.com for additional information.
GeneOhm Annouces $12 Million in Venture Investments - Series B Preferred Success Comes Despite Lackluster Venture Capital Markets
San Diego, CA - January 17, 2003
Three of the nation's leading venture capital firms have recently invested $12 million in GeneOhm Sciences and its proprietary technologies for detecting genetic mutations and pathogens that cause infectious disease, according to the company's President and CEO, Dr. Peter Klemm.
Collinson, Howe & Lennox , LLC leads the current round of financing which remains open for a second close. Others include CB Health and Domain Associates. It was the second investment by Domain; all three firms specialize in life science and have an excellent track record of identifying break-through technology companies.
“To have venture capital partners of this caliber make such a strong commitment to this technology in such a difficult investment climate confirms not only the progress of GeneOhm to date, but the potential of the technologies we are developing,” said Klemm.
By 2004, GeneOhm expects to commercialize technology for identifying individuals with elevated risk for certain genetic diseases. The new technology is expected to produce rapid test results in a small fraction of the time required by current technology. By allowing clinicians to identify a patient's mutations accurately, sensitively and rapidly with a simple and inexpensive reader, this proprietary chip-based platform is expected to become the primary system that clinicians use to focus genomic information on individual patient care.
Among the benefits of GeneOhm's approach are:
• The electrochemical test is sensitive, accurate, and eliminates chemical labeling.
• The technology is gene-sequence independent due to its reliance on the electrical properties of DNA.
• The technology is inexpensive, compact, and can detect multiple mutations or pathogens simultaneously.
• The readout is binary and unequivocal, eliminating the need for additional analysis.
“GeneOhm is approaching molecular diagnostics very intelligently,” said Ron Lennox of Collinson, How & Lennox. “It's creating a differentiated solution that works in existing markets while positioning itself for long-term growth.”
Jim Blair of Domain Associates agrees, adding “Clearly, GeneOhm's technology represents a critical link between genomic information and individual patient care. GeneOhm is developing the right technologies and products to take a leadership role.”
GeneOhm also is working on next-generation technology for infectious diseases that will provide diagnostic test results in a few hours, versus, for example, the one to five days needed to process a blood culture today. GeneOhm officials expect to see this technology commercialized by 2005.
GeneOhm was established in 2001 with technology developed over a decade by Professor Jacqueline Barton, PhD, at the California Institute of Technology. This technology uses the flow of electric current through DNA to detect genetic mutations and to detect pathogens that cause infectious disease. GeneOhm has an exclusive, worldwide license to this technology from Caltech for all fields of use.
GeneOhm is actively exploring strategic partnerships with a number of global electronics, semiconductor and pharmaceutical companies. Officials say the financing is expected to carry GeneOhm through its first generation of technology.
“We are excited about the prospects of improving patient care with low cost, rapid response tests having extremely high specificity,” added Klemm. “This technology has enormous potential for both genetic disease and infectious disease in the exploding molecular diagnostics market and is a significant advancement toward true individual patient care.”
GeneOhm is a fast-growing, early-stage life sciences company in the heart of San Diego 's biotech community. It has attracted a number of top international scientists, including Donald M. Crothers, PhD, as Chief Scientist. He is formerly from Yale University where he was Sterling Professor in the Departments of Chemistry and Molecular Biophysics and Biochemistry. The company also is actively recruiting for a number of positions.
Cellular Genomics Announces Two Executive Promotions on Senior Management Team
Branford, CT – (PRNewswire) – January 15, 2003
Cellular Genomics Inc. (CGI) today announced two executive promotions on the senior management team. Thomas Gerson, Vice President of Finance and Operations, has been named the Company's Chief Financial Officer, and Mark Velleca, M.D., Ph.D., Vice President of Research, has been promoted to the newly created position of Vice President of Research and Preclinical Development.
Thomas Gerson, 48, joined Cellular Genomics in November of 2000, bringing with him more than 25 years of experience in corporate finance, business strategy and operational analysis. Prior to joining CGI, Mr. Gerson was Director of Financial Planning & Analysis for Sanofi Pharmaceuticals' U. S. Research & Development Operations. While at Sanofi, Mr. Gerson directed the financial analysis, operational and capital budgeting, and project accounting for a large research operation responsible for over $100 million in annual development expenditures. Prior to joining Sanofi, Mr. Gerson worked for Sterling Winthrop Pharmaceuticals, a subsidiary of Eastman-Kodak, where he had extensive responsibilities in both strategic planning and business analysis. Mr. Gerson received his B.A. degree, Summa Cum Laude, from Boston College and his M.B.A. from the University of Chicago .
"Tom has done a superb job managing the Company's financial operations through a period of significant growth since he joined CGI," said Ron Lennox , Chairman of the Board of Directors. "As Chief Financial Officer, Tom will play a key strategic role as the Company advances through its next major phase of development."
Dr. Mark Velleca, 39, one of CGI's founding scientists, has more than 15 years of broad-based experience in both basic biomedical research and clinical medicine. A board-certified clinical pathologist, he has expertise in the laboratory diagnosis of autoimmune and inflammatory diseases, hematological disorders and cancer. Since the Company's inception, Dr. Velleca has played a leading role in the design and implementation of CGI's scientific strategy for drug discovery and development. Prior to joining Cellular Genomics, Dr. Velleca was on the faculty of Yale Medical School . He has published scientific papers in diverse areas of cell and molecular biology, signal transduction, immunology, neuroscience and transfusion medicine. Dr. Velleca earned his B.S. Cum Laude from Yale University and is a graduate of the Medical Scientist Training Program at Washington University , receiving an M.D. with honors and a Ph.D. in the neurosciences. After the completion of his clinical training at Yale New Haven Hospital , where he served as Chief Resident, Dr. Velleca conducted postdoctoral research in Cell Biology and Immunobiology at Yale Medical School . An attending physician at Yale New Haven Hospital until 2002, Dr. Velleca maintains an adjunct appointment at Yale University as a Clinical Assistant Professor of Laboratory Medicine.
"Since the founding of CGI, Mark has done an outstanding job directing the growth of the Company's research and development programs," said Louis Matis, M.D., President and Chief Executive Officer of CGI. "This highly merited promotion reflects both the evolution of the Company's programs and the expanded leadership role Mark will now assume as we advance our drug discovery initiatives into clinical development."
About Cellular Genomics Inc.
Cellular Genomics Inc. (CGI) is a privately held genomics-based biopharmaceutical company that is pioneering a unique, highly integrated chemical genetics platform for drug discovery and development. The company's functional genomic and proteomic technologies couple unprecedented rigor in the identification and validation of novel drug targets directly to unique drug discovery capabilities, including proprietary drug screens and small molecule compound libraries, thus providing a comprehensive gene to drug platform. The company has established small molecule drug discovery programs focused on discovering and developing kinase inhibitors for oncology and autoimmune/inflammatory diseases. CGI is leveraging all of these capabilities to discover and develop its own, internal drug development opportunities as well as to establish collaborative programs with pharmaceutical partners. Please visit http://www.cellulargenomics.com for additional information.
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