Healthcare Industry News: Bayer HealthCare
News Release - October 10, 2007
Isotechnika Inc. appoints two new senior company officersEDMONTON, Oct. 10 (Healthcare Sales & Marketing Network) - Isotechnika Inc. is pleased to announce that effective October 10, 2007, Mr. Clemens Kaiser will assume the role of Executive Vice President and Chief Marketing Officer. This position has been created to focus on pre-commercialization and commercialization efforts for the Company's lead drug, ISA247.
Mr. Kaiser comes with extensive experience in the pharmaceutical industry as he has held numerous executive positions within the Bayer organization. After joining the Bayer HealthCare Division in 1984, he held positions with increasing operational responsibilities in the Philippines, South Africa, Canada, and Greater China. Between 1994 and 1998, Mr. Kaiser was a Member of the Bayer Pharmaceutical Executive Management Committee and also responsible for Bayer's Pharmaceutical Business in Asia, Australia, Latin America, Middle East, Africa and Eastern Europe. During this time, many important milestones were reached and he became, among other achievements, the first Chairman of Bayer HealthCare China. Most recently, Mr. Kaiser was President and CEO of Exatec LLC, a General Electric technology joint venture. Mr. Kaiser received a degree in Business and Economics from the Free University in Berlin.
As Chief Marketing Officer, Mr. Kaiser will oversee global marketing, licensing and business development operations of Isotechnika. Mr. Kaiser will also be responsible for identifying, conducting and concluding licensing and partnership discussions and negotiations for current and future Isotechnika compounds for all markets. Furthermore, he will be responsible for developing target product profiles and providing input into clinical programs to optimize the Company's products in global markets. As a member of the Senior Management Executive group, he will also provide guidance and input for Isotechnika's Investor Relations. "With uveitis and psoriasis already in Phase 3 and transplant about to move into Phase 3, Isotechnika will increase its activities with all partners to ensure expeditious regulatory approval and launch of ISA247. I am excited to join Isotechnika at this stage and compliment the team that has done a terrific job so far," states Mr. Kaiser. "It is imperative that the Companies' resources are now focused on finding the shortest way to market so that ISA247 is available to patients around the world as soon as possible. Preparing for global product launch in three different indications requires all the team's attention".
The Company is also pleased to announce the appointment of Dr. Derrick Freitag to the Senior Management Executive group as Chief Scientific Officer, effective October 10, 2007. Dr. Freitag's new role ensures that scientific resources are deployed to optimally support our drug development programs.
Dr. Freitag has worked with Isotechnika since 1996 and recently held the position of Senior Director, Biopharmaceutics. In 1994, Dr. Freitag received his Ph.D. in Pharmaceutical Sciences specializing in drug metabolism from the University of Alberta. Since joining Isotechnika, Dr. Freitag has held numerous positions with increasing responsibilities in the Company's drug metabolism program, the analytical chemistry laboratory, and the toxicology and drug development programs. Since 2005, Dr. Freitag has been an Adjunct Professor with the Faculty of Pharmacy and Pharmaceutical Sciences at the University of Alberta in Edmonton. He has numerous scientifically reviewed journal articles and abstracts. "My goal is to ensure that our Company's basic science is translated into optimal patient therapy. By applying basic science to patient outcomes, we can ensure patient care is at its best by achieving that fine balance between optimal efficacy and minimal side effects," states Dr. Freitag.
"My job is to make sure that we are fully prepared to enter the marketplace with ISA247 and that we have the scientific basis and recognition to support the market introduction," stated Dr. Robert Foster, Isotechnika's Chairman & Interim CEO. "From over 10 years of intensive research and development, we have generated volumes of data to support our confidence in this important immunosuppressive drug. ISA247 with its significantly improved safety profile should put us in good stead relative to other therapies in the transplant, psoriasis and uveitis marketplaces. Patients, clinicians and investors should all benefit from our strategy."
Edmonton-based Isotechnika Inc. is an international biopharmaceutical company focused on the discovery and development of novel immunosuppressive therapeutics that are designed to offer advantages over other currently available treatments while offering therapeutic choices to clinicians. Isotechnika looks to become the market leader of drug therapies for indications such as transplantation of solid organs (with Hoffman La Roche) and treatment of autoimmune disorders such as uveitis (with Lux Biosciences) and psoriasis.
Calcineurin inhibitors are used in the vast majority of all transplant patients from the time of transplant, continuing for the entire life of the patient. The market for these drugs currently exceeds $2 billion annually. Use of the only other two marketed calcineurin inhibitors, cyclosporin and tacrolimus, while both efficacious, is associated with various significant safety drawbacks.
Isotechnika's lead drug, ISA247, has successfully completed a Phase 3 Canadian trial for the treatment of moderate to severe psoriasis. ISA247 is currently being investigated in a Phase 3 European/Canadian psoriasis trial and a Phase 2b North American trial for the prevention of kidney graft rejection subsequent to transplantation. Our partner, Lux Biosciences, is currently conducting three separate Phase 2/Phase 3 trials investigating ISA247 as a treatment for uveitis.
Isotechnika Inc. is a publicly traded company on the Toronto Stock Exchange under the symbol "ISA". More information on Isotechnika can be found at www.isotechnika.com.
Partnerships with Isotechnika Inc.
- Hoffman La Roche (April 9, 2002) licensed the worldwide rights to develop and commercialize ISA247 for all transplant indications.
- Atrium Medical Corporation (September 30, 2005) exclusive worldwide licensing agreement for use of ISA247 and TAFA93 with drug eluting devices for non-systemic treatment of vascular, cardiovascular, target vessel and tissue disorders.
- Cellgate Inc. signed an option agreement (April 25, 2006), granting an option to obtain an exclusive license to develop and commercialize patented transporter technology for topical delivery of ISA247 in patients suffering from mild to moderate psoriasis.
- Lux Biosciences Inc. of Jersey City, New Jersey (May 25, 2006), Jersey City, New Jersey granted worldwide rights to develop and commercialize ISA247 for the treatment and prophylaxis of all ophthalmic diseases.
This press release may contain forward-looking statements. Forward looking statements, including the Company's belief as to the potential of its products, the Company's expectations regarding the issuance of additional patents and the Company's ability to protect its intellectual property, involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the ability to economically manufacture its products, the potential of its products, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize its products, the ability of the Company to defend its patents from infringement by third parties, and the risk that the Company's patents may be subsequently shown to be invalid or infringe the patents of others. Investors should consult the Company's quarterly and annual filings with the Canadian commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements.
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