Healthcare Industry News: Integrated BioPharma
News Release - March 13, 2006
Morphotek Announces Appointments and Promotions to Management TeamEXTON, Pa., March 13 (HSMN NewsFeed) -- Morphotek®, Inc. announced today the appointment of Robert Radie as Chief Business Officer and the promotion of Dr. Luigi Grasso to Senior Vice President of Research & Development. These advancements are at a time that the company moves forward with its broad therapeutic antibody pipeline through clinical trials and continues to market its human antibody platform technology to support internal product development and collaborative alliances.
Mr. Radie has over 20 years of experience in the pharmaceutical and biotechnology industry. Most recently, he was Sr. Vice President of Strategic Projects and Planning at Vicuron Pharmaceuticals, where he was responsible for corporate strategy and business development. He played an integral role in the recently completed Pfizer acquisition of Vicuron Pharmaceuticals. Before joining Vicuron, Mr. Radie spent his professional career in a broad range of positions of increasing responsibility at Eli Lilly and Co. His tenure at Lilly was marked by leadership of several different sales forces and product launches, including the deployment of Lilly's Critical Care sales organization. He played a significant role in the launch and sales of many of Lilly's flagship products including Prozac, Zyprexa, and Actos. He holds a Bachelor of Science degree in chemistry from Boston College.
Dr. Grasso has over 10 years of experience in biopharmaceutical R&D. He co-founded Morphotek and has served as its VP of Research since its inception. His team's efforts have led to the development of a pipeline of therapeutic antibodies in the area of cancer, inflammation and infectious disease. He received his Ph.D. in Pathology from the University of Catania, Italy and has held various R&D positions within the biopharmaceutical industry. He has authored several papers in leading peer review journals and is an inventor with several key patents involving Morphotek's technologies and products.
"I am pleased to announce the addition of Bob to the team and the well deserved promotion of Luigi to Sr. Vice President," commented Nicholas C. Nicolaides, Ph.D., President and Chief Executive Officer of Morphotek. "Bob brings a breadth of knowledge, energy and leadership to the company that will facilitate development of our technology and products for value creation. His keen understanding of product development and pharmaceutical sales will undoubtedly help the company execute its goals in establishing alliances with appropriate partners who are capable of helping us advance our compounds from the clinic to the market as well as sign additional technology alliances. Luigi's leadership in R&D has been essential for helping the company to optimize, validate and implement its technologies from our inception. His efforts have led to the development of platforms used to develop a pipeline of therapeutic antibodies that are currently moving forward into clinical development for validation. We are fortunate to have these two top caliber individuals as part of our management team to help us achieve our targeted milestones in becoming a fully Integrated BioPharma company and to bring value to our shareholders."
Morphotek, Inc. is a biotechnology company focused on the generation of proprietary proteins for product discovery and development. The Company has a validated and patented platform technology called morphogenics that rapidly enhances the natural process of genetic evolution within a targeted host to yield variants with novel, commercially important output traits. Morphotek markets an antibody development platform called Human MORPHODOMA® that employs morphogenics to yield fully human, high-affinity monoclonal antibodies from high-titer hybridoma cells. This platform yields high quality antibodies that do not demand the burdensome royalty mandated by recombinant antibody technologies. Morphotek employs its technologies to develop optimized therapeutic antibodies for the treatment of cancer, inflammatory and infectious diseases. For further information visit http://www.morphotek.com.
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