Healthcare Industry News: Elusys Therapeutics
News Release - July 30, 2007
Elusys Appoints New Chairman of the Board and a Vice President of DevelopmentPINE BROOK, N.J., July 30 (HSMN NewsFeed) -- Elusys Therapeutics, Inc. (Elusys), a privately-held biopharmaceutical company developing proprietary Heteropoloymer (HP) Antibodies for the treatment of life-threatening infectious diseases, today announced the appointment of Ron Eastman as Chairman of the Board of Directors, succeeding William R. Miller. Mr. Eastman is a Partner at Essex Woodlands Health Ventures. Mr. Miller, a former Vice Chairman of Bristol-Myers Squibb, will remain on the Board as a Director.
The company also announced that James P. Porter has been promoted to Vice President of Development and Manufacturing, expanding the senior executive management team.
Elizabeth Posillico, Ph.D., President and Chief Executive Officer of Elusys, commented on the appointments, "I welcome Ron Eastman as the company's new Chairman. Ron brings considerable pharmaceutical and biotech experience to our Board and I look forward to working with him as we advance our pipeline and product platform. I am also personally delighted to announce Jim Porter's promotion to Vice President. Jim has played a seminal role in the development of our HP Antibody technology and his leadership is important to the success of our products in advanced clinical development."
Dr. Posillico continued, "We are pleased that Bill Miller will remain on the Board as he is a true pharmaceutical industry legend who has served with distinction as Elusys' Chairman since the company's inception in 1998."
Mr. Eastman commented, "Essex Woodlands is Elusys' largest investor and we know the company well. We also know that HP Antibodies could change the way serious infectious diseases are treated and it is an honor to be invited to join this exciting company as Chairman. I look forward to working closely with the management team and the other Directors to help guide Elusys into clinical development with its lead HP Antibody product, ETI-211, for the treatment of methicillin resistant Staphylococcus aureus (MRSA)."
Mr. Eastman has nearly 30 years of experience in the healthcare and biopharmaceutical businesses. He began his career at American Cyanamid Company (now Wyeth). At Cyanamid, Mr. Eastman spent 15 years managing various pharmaceutical products, divisions and subsidiaries in the U.S. and overseas. Since then he has helped build and create successful exits for three leading healthcare companies including Rinat Neuroscience, which was acquired by Pfizer in 2006. Mr. Eastman earned his B.A. from Williams College and his M.B.A. from Columbia University.
Mr. Porter has more than 25 years of experience in commercial biopharmaceutical development. Prior to joining Elusys in 1999 as Director of Product Development, he was Director, Product Materials Development for Heska Corporation and previously served for ten years in the Hybridoma Development Group at Genentech. Mr. Porter received his B.S. in chemistry from the University of Florida and his M.S. in biochemistry from the University of South Carolina.
About Elusys' HP Antibody(TM) Technology
HP Antibodies represent a new approach for the treatment of antibiotic resistant infections distinct from traditional therapies. HP Antibodies utilize natural immune system mechanisms to clear pathogens and provide a means to develop novel drug candidates targeted against bacterial, viral and fungal infections. By targeting a unique immune receptor, HP Antibodies enhance a natural clearance mechanism and direct the rapid removal of pathogens from the circulation to tissue macrophages.
Elusys is a privately-held biopharmaceutical company focused on the development of antibody-based therapeutics for the treatment of life-threatening infectious disease. Current venture investors include Essex Woodlands Health Ventures LLC, Invesco Private Capital, Crescendo Ventures, MedImmune Ventures and Pfizer. For more information please visit http://www.elusys.com.
Source: Elusys Therapeutics
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