Healthcare Industry News: Orthovita
News Release - April 3, 2008
Alba Therapeutics Announces Appointment of Bruce A. Peacock as its Chief Executive OfficerBALTIMORE, April 3, 2008 (HSMN NewsFeed) -- Alba Therapeutics Corporation today announced the appointment of Bruce A. Peacock as its Chief Executive Officer (CEO) and a member of its Board of Directors. Mr. Peacock is a Venture Partner with SV Life Sciences Advisors, LLC. Previously, he served as the CEO or was a member of the senior management team for several successful entrepreneurial healthcare companies operating in therapeutic, diagnostic and service areas including The Little Clinic, Adolor Corporation, Orthovita, Inc., Cephalon, Inc., and Centocor, Inc.
In a related announcement, Blake M. Paterson, MD, Alba's CEO and Co- Founder since its inception in 2004, has left the company to pursue other advisory and entrepreneurial interests. Since founding the Company, Dr. Paterson has raised over $40 million in funding for the Company and under his direction and leadership Alba has grown into a thriving Baltimore biotechnology company with 45 employees in its headquarters at the University of Maryland BioPark. This growth has led to the achievement of significant milestones including successful proof-of-concept for Alba's clinical candidate, larazotide acetate in celiac disease and the establishment of a licensing and collaboration agreement worth up to $325 million with Shire Pharmaceuticals.
"The addition of Mr. Peacock to the Alba management team will position the Company for the next level of financial and developmental success. I look forward to continuing to support the Alba team in their endeavors, as founder and past president," said Dr. Blake Paterson.
Dr. Lutz Giebel of Alba's Board of Directors commented, "We are extremely grateful to Blake for his commitment, dedication, vision and passion for the broad technology platform Alba has created and for helping to create medicines for patients with unmet medical needs. We will continue to count on his valuable perspective as the Company moves forward."
Alba Therapeutics Corporation is a privately held, clinical-stage biopharmaceutical Company focused on the discovery, development, and commercialization of therapies to treat autoimmune and inflammatory diseases and is based in Baltimore, Maryland. Alba's technology platform is based upon a key pathway that regulates the assembly and disassembly of tight junctions in cell barriers throughout the body. As a result of its unique technology platform, Alba is a leader in mucosal biology and has developed a pipeline of innovative therapeutic candidates that has the potential to modify the course of disease and significantly improve upon existing treatments for a wide range of diseases such as Celiac disease, Crohn's disease, and Asthma/COPD or acute lung injury.
Source: Alba Therapeutics
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