Healthcare Industry News: metabolic disease
News Release - October 26, 2006
Ilypsa Announces Appointment of William D. Waddill as Chief Financial OfficerSANTA CLARA, Calif.--(HSMN NewsFeed)--Ilypsa, Inc., a privately-held biopharmaceutical company pioneering novel non-absorbed drugs for renal and metabolic disorders, today announced the appointment of William D. Waddill as Chief Financial Officer.
"We are very pleased to bring to Ilypsa Will's extensive experience in financing and capitalizing on the scientific work of some of the most successful companies in our industry. This addition to our management team signals the advancement of our programs and our commitment to leveraging Ilypsa's science for the benefit of our investors, partners, and most importantly, patients," said Jay Shepard, President and Chief Executive Officer of Ilypsa. "Will's considerable experience managing finance and administration for life science companies, combined with his proven track record in fundraising, make him an excellent fit for Ilypsa."
"I am delighted to be joining Ilypsa's management team at this exciting point in its drug discovery and development effort," said Mr. Waddill. "It has been my experience that when you find a company with innovative science, committed investors, and accomplished leadership, you've found an equation for success. Ilypsa is perfectly positioned to capitalize on commercial opportunities arising from great science."
Mr. Waddill brings more than 15 years of experience as a CFO managing the funding and finances of numerous venture-backed and more mature life science companies. Most recently, Mr. Waddill served as the principal of Square One Finance, a financial consulting business. As such, he was responsible for managing the finances of 33 biotechnology companies, including 8 that are currently public and 5 that have been acquired. Prior to Square One Finance, Mr. Waddill held positions at Exelixis, Inc., most recently as Senior Director, Finance, and served as CFO of Medical Science Partners, a venture capital firm in Boston. He received a BS in accounting from the University of Illinois, and certification as a public accountant after work at PricewaterhouseCoopers and Deloitte and Touche.
About Ilypsa, Inc.
Ilypsa, Inc. is a privately held biopharmaceutical company discovering and developing a pipeline of next-generation renal care pharmaceutical products. Pioneering the use of a proprietary high throughput discovery and development platform created and validated at Symyx Technologies, Inc. (NASDAQ: SMMX ), Ilypsa has rapidly created non-absorbed polymeric phosphate and potassium binder compounds to treat chronic kidney disease, and has additional programs in kidney, infectious and metabolic diseases. To date, Ilypsa has raised $46 million in a Series A and Series B round of financing. Investors include The Sprout Group, 5AM Ventures, US Venture Partners, Johnson & Johnson Development Corporation and Delphi Ventures. For more information, please visit www.ilypsa.com.
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