Healthcare Industry News: NovaCardia
News Release - February 26, 2008
BioVascular, Inc. Expands Executive TeamSAN DIEGO, Feb. 26 (HSMN NewsFeed) -- BioVascular, Inc., a company focused on developing novel therapies targeting platelet-mediated diseases, today announced that it appointed Christopher M. Bussineau, Ph.D., to the position of vice president of pharmaceutical operations and Eric Karpinski to the position of vice president, business development and nonvascular operations.
"Dr. Bussineau and Mr. Karpinski each bring skill and experience to BioVascular that will allow us to advance our business objectives," said John Parrish, CEO of BioVascular. "With continuing clinical progress in our two compounds, we will be looking to Mr. Karpinski to advance partnership discussions. Dr. Bussineau will be invaluable for establishing the infrastructure needed for further clinical development and eventual commercialization."
Dr. Bussineau brings relevant experience to BioVascular in the areas of process development as well as clinical and commercial manufacturing. Prior to joining BioVascular, Dr. Bussineau served as vice president and general manager of Cambrex Bio Science Baltimore. Before that, he was senior director of technical operations for the Biopharmaceutical Division of Chiron Corporation, acquired by Novartis in 2006. Dr. Bussineau holds a Ph.D. in chemical engineering from Rice University and a B.A. in chemistry from the University of California, San Diego.
Mr. Karpinski has extensive experience in business development, venture financing and strategic planning in the biopharma industry. He joined BioVascular after six years as a venture capitalist with Forward Ventures where he drove the diligence and supported companies in the portfolio including Hypnion, sold to Eli Lilly for $315M; NovaCardia, sold to Merck for $350M; Predix, sold to Epix Medical; and Adiana, sold to Cytyc. Prior to working at Forward Ventures, Mr. Karpinski held business development and strategic planning roles at Genentech, Epix Medical and the pharmaceutical consulting practice of Arthur D. Little. Mr. Karpinski holds an M.B.A. from The Wharton School of Business at the University of Pennsylvania, and he earned a B.S. in biochemistry from Brown University.
"Our leadership team has already logged an impressive history of successful company development, and with several clinical trials completed or underway at BioVascular; we are well on the path to continued success," noted Mr. Parrish. "I look forward to working with each team member in helping BioVascular shape what looks to be a very strong future."
About BioVascular, Inc.
BioVascular is a privately-held, cardiovascular and vascular disease focused company, dedicated to developing novel therapeutics for platelet- mediated disorders. Started in 2005, the company is leveraging its exclusive rights to two clinical stage cardiovascular compounds with differentiated mechanisms of action to become a leading specialty therapeutics company. BioVascular's most advanced clinical compound, saratin, is currently being studied in two Phase I/II clinical trials for vascular graft failures due to intimal hyperplasia. The company recently acquired the full worldwide rights to BVI-007, which reduces platelet numbers without impairing platelet function.
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