Healthcare Industry News:  Elixir Pharmaceuticals 

Biopharmaceuticals Personnel

 News Release - January 29, 2007

Elixir Pharmaceuticals Names Gregory D. Perry as Chief Financial Officer

CAMBRIDGE, Mass.--(HSMN NewsFeed)--Elixir Pharmaceuticals, Inc., announced today the appointment of Gregory D. Perry to the newly created position of Chief Financial Officer. In this position, Mr. Perry will be responsible for the development and execution of financial strategy, management of financial resources and financial operations. He will report directly to William Heiden, President and Chief Executive Officer of Elixir.

Most recently, Mr. Perry served as Chief Financial Officer of Domantis, Ltd., a biopharmaceutical company focused on the development of antibody-based therapies, which recently announced its acquisition by GlaxoSmithKline. During Mr. Perry's tenure, he led the Company's strategic planning initiatives and was instrumental in the development, presentation and execution of the $455 million acquisition agreement, the highest amount ever paid for a biotech company in preclinical development. Previously, Mr. Perry held the position of Senior Vice President and CFO at Transkaryotic Therapies, where he was responsible for implementing or improving key business processes including the strategic business plan, annual operating plan, forecasting, analysis and communication of actual results. In addition, he improved the Company's visibility and communications with the financial community. Prior to this, Mr. Perry served as Senior Vice President, Finance and Business Development, Life Sciences at PerkinElmer Inc. In this role, he oversaw the closing of $1.1 billion in strategic acquisitions.

Mr. Perry has also held management positions at Honeywell and General Electric where he was most recently CFO of GE medical Systems Europe located in Paris, France. He earned his Bachelor of Arts Degree in Economics and Political Science from Amherst College in Amherst, MA.

William Heiden, President and CEO of Elixir Pharmaceuticals commented, "Greg Perry brings both private and public healthcare experience as CFO to Elixir, at an important time in the Company's development. His strong finance and operations experience complement well the depth and breadth of our current senior management team. I am very pleased to have identified a CFO of Greg's caliber and he joins Elixir at a very exciting time."

"I am very excited to join the Elixir team, which is uniquely qualified to drive the development and commercialization of innovative science that one day could have a profound impact on human health," commented Mr. Perry.

About Elixir Pharmaceuticals

Elixir is a Cambridge, MA-based biopharmaceutical company focused on developing and commercializing drugs to treat and prevent metabolic disease, prevent age-related diseases, ultimately extending the quality and length of human life.

Elixir is advancing a novel proprietary potent, orally available ghrelin antagonist through lead optimization and is preparing to nominate a clinical candidate. Compounds are currently being evaluated in in-vivo models of Type 2 diabetes and obesity, both of which represent exciting drug development targets in metabolic disease and multi-billion dollar product opportunities.

In addition to its ghrelin antagonist program, the Company has leveraged its knowledge of ghrelin biology and pharmacology by licensing a small molecule ghrelin agonist (designated EX-1314) from Bristol-Myers Squibb Company in April 2005. EX-1314 binds selectively to the ghrelin receptor and mimics the body's naturally occurring ghrelin. In doing so this novel, orally available agent is capable of stimulating appetite, gastric motility and the release of growth hormone. Elixir is currently in IND-enabling studies with EX-1314 targeting a variety of therapeutic indications.

Further, in March 2006, Elixir in-licensed North and South American rights to GlufastŪ (mitiglinide calcium hydrate), an insulin secretagogue, which lowers post-meal glucose levels by improving the body's own ability to produce insulin. Already marketed in Japan, Glufast has undergone extensive clinical development demonstrating the product's ability to safely and effectively treat Type 2 diabetes.

Elixir has also developed expertise and a broad IP portfolio of more than twenty patents and patent applications related to the Sirtuin class of proteins, including small molecular weight SIRT1 activators and inhibitors. The Company's own R&D efforts and those of its numerous research partners utilizing modulators of SIRT1 (a human sirtuin) have significantly extended the SIRT knowledge base in recent years. Elixir is also actively pursuing drug discovery efforts focused on other key targets, such as AMP-activated kinase (AMPK) and the INDY gene, both of which have been implicated in the regulation of aging and metabolism in a variety of organisms.

More information about Elixir is available at http://www.elixirpharm.com/


Source: Elixir Pharmaceuticals

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