Healthcare Industry News: Transdermal
News Release - May 31, 2007
Macroflux Names M. Cory Zwerling President, CEOMOUNTAIN VIEW, Calif.--(HSMN NewsFeed)--Macroflux, an emerging specialty pharmaceutical company focused on the development of proprietary products, has named M. Cory Zwerling President and CEO of the company.
"This is an exciting opportunity to lead Macroflux with a strong team, innovative product opportunities and high caliber Board," said Mr. Zwerling. "The weeks ahead will be vibrant as we move into new facilities, commence our Phase 2 PTH trial and strengthen our management team."
Macroflux was founded in October 2006 as a Johnson and Johnson Internal Ventures spin-out to progress several product opportunities based on the Macroflux Transdermal technology. The proprietary technology provides a needle-free solution for delivery of peptides, small molecules, proteins and vaccines. Based on a small patch and applicator, Macroflux technology combines painless and convenient drug administration with rapid delivery and high bioavailability.
Zwerling replaces Judy Hemberger, who as interim CEO played a key role in raising a total of $90 million to date from Nomura Phase4 Ventures, New Enterprise Associates (NEA) and HBM Partners, including the recent addition of $15 million invested by ProQuest Investments in April 2007.
"Transitioning this business opportunity to Cory will allow us to maximize Macroflux's opportunities," said Judy Hemberger. "I have enjoyed working with this solid team as their interim CEO and am confident that through Cory's leadership, the company will become a successful world class organization."
Mr. Zwerling brings extensive experience to this leadership role, derived from his 20-year track record of achievement in the pharmaceutical industry. During his career he held a number of significant leadership roles at Bristol-Myers Squibb, most recently as President of Bristol-Myers Squibb Medical Imaging. Previous roles at BMS included heading up a global team for the development of PPAR therapeutics, and serving as General Manager, Thailand for the Global Medicines Group. Mr. Zwerling also currently serves as a Board Director to Critical Therapeutics Inc. in Lexington MA.
"We are glad to have Cory take this leadership role," said Michael Raab, Macroflux Board member and Partner at New Enterprise Associates. "His proven track record of leading teams will benefit our future opportunities in developing Macroflux's products."
"We look forward to working with Cory to build a world-class business. His experience and strategic vision complements the breadth of commercial opportunity at Macroflux," said Denise Pollard-Knight, Head of Nomura Phase4 Ventures.
Headquartered in Mountain View California, Macroflux Corporation® was founded in 2006, after having spun out from Johnson and Johnson's Internal Ventures. The company, which is primarily focused on developing, manufacturing and commercializing a proprietary portfolio of products, currently has 37 employees and will soon move to new offices in Fremont, California. For further information, or to find out about licensing and partnering opportunities, visit www.macroflux.com.
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.