Healthcare Industry News: Millennium
News Release - February 13, 2008
Calistoga Pharmaceuticals Announces Appointment of R. Lee Douglas, 22-Year Biotechnology/Pharmaceutical Industry Veteran, to Its Board of DirectorsSEATTLE, WA--(Healthcare Sales & Marketing Network)--Feb 13, 2008 -- Calistoga Pharmaceuticals, Inc., a biopharmaceutical company dedicated to developing innovative medicines for the treatment of cancer and inflammatory diseases, announced today that it has appointed R. Lee Douglas, to its board of directors. Mr. Douglas has over 22 years of successful biotechnology operating and management experience with special emphasis on building and developing companies, including business development, strategic portfolio management, and integration of company mergers and acquisitions.
"Lee's strategic insights and experience growing biotechnology and pharmaceutical organizations will be invaluable. Lee brings impressive industry perspective and will be a great resource to Calistoga as we advance our research and clinical pipeline and prepare to enter the clinic," stated Daryl B Winter, Ph.D. J.D., Chief Operating Officer of Calistoga Pharmaceuticals, Inc. "In addition, the breadth of Lee's knowledge in strategic business development transactions and product assessment will be very important as we continue to execute our broader business strategies."
Mr. Douglas was a co-founder of COR Therapeutics, Inc. COR discovered, developed and commercialized novel drugs for cardiovascular diseases and was acquired by Millennium Pharmaceuticals in 2002. While at COR, Mr. Douglas served in a number of key management positions, including as its original CEO, later as CFO during the period when COR became a public company, and as Vice President, Corporate Development where he was responsible for strategic planning and for establishing a wide variety of licensing arrangements, including major, joint-venture type alliances with Schering-Plough Corporation, Eli Lilly and Co., and Johnson & Johnson Co. In addition, he co-headed COR's manufacturing project team for its platelet aggregation inhibitor INTEGRILIN, which is approved in major countries worldwide. Since 1998, Mr. Douglas has been an independent consultant to a number of biopharmaceutical companies. He currently serves on the board of directors of Affymax, Inc. He was a member of the founding teams of both Portola Pharmaceuticals, Inc, where he is an advisor, and Five Prime Therapeutics, Inc., where he serves on its board of directors. Since 2002, he has also been a Visiting Scholar in the Department of Molecular and Cell Biology at the University of California, Berkeley, where he conducts research on kinesins (cytoskeletal motor proteins) as potential drug targets for the neglected parasitic diseases African sleeping sickness and leishmaniasis.
"Calistoga Pharmaceuticals has a very capable and experienced management team, as well as a collection of exceptionally high quality proprietary assets that provides a strong foundation in the development of PI3K-targeted therapies," stated Douglas. "I look forward to working with this team as they evaluate the therapeutic benefits of selectively targeting specific isoforms of the PI3K pathway in a wide variety of clinical indications. I believe I can help the company evaluate financial and strategic opportunities as these exciting new targeted compounds move through clinical development."
Before starting COR Therapeutics, Mr. Douglas was a general partner in the venture capital group at Robertson, Colman & Stephens (RCS). Previously he worked in investment banking at both RCS, and Donaldson, Lufkin & Jenrette in New York. He received his M.B.A. from Harvard Business School, MCRP from the Harvard Graduate School of Design and B.A. from University of North Carolina at Charlotte.
About Calistoga Pharmaceuticals
Calistoga Pharmaceuticals is a biopharmaceutical company developing innovative therapies for cancer and a variety of immune disorders, including allergies and inflammatory conditions. Its current focus is on the development of small molecule inhibitors of a critical intracellular signaling component known as phosphoinositide-3 kinase (PI3K). The PI3K pathway stimulates numerous processes that promote cell proliferation, growth, motility, metabolism and survival. While these processes are important for the health of normal cells, inappropriate activation contributes to the development and progression of cancer and immune disorders. Calistoga Pharmaceuticals was founded by Frazier Healthcare Ventures in 2006 as a spin out of the PI3K inhibitor drug development program from the ICOS Corporation. The Company has raised more than $26 million from high-quality venture investors in life sciences including Frazier Healthcare Ventures, Alta Partners, Three Arch Partners and Amgen Ventures. Lilly Ventures also has an equity position in the Company. Calistoga Pharmaceuticals is a privately held organization headquartered in Seattle, Washington. For more information about Calistoga Pharmaceuticals, visit the Company's website at: www.calistogapharma.com.
Source: Calistoga Pharmaceuticals
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