Healthcare Industry News: hereditary angioedema
News Release - August 7, 2008
Dyax Corp. Announces the Appointment of George Migausky as Chief Financial OfficerCAMBRIDGE, Mass.--(HSMN NewsFeed)--Dyax Corp. (NASDAQ: DYAX ) today announced the appointment of George Migausky as Executive Vice President and Chief Financial Officer following the retirement of Steve S. Galliker. Mr. Migausky brings extensive experience in corporate strategy, business development and financial planning, with over 30 years of senior management leadership at life science and medical technology companies, including 20 years as a Chief Financial Officer. At Dyax, he will serve as a member of the executive management team and be responsible for the Company’s financial operations.
Prior to joining Dyax, Mr. Migausky served as CFO of Wellstat Management Company, a privately-held company responsible for managing the strategy, business development and operations of an affiliated group of six life science and technology companies. Mr. Migausky has also held CFO positions at several public and private companies including BioVeris Corporation, IGEN International, Hyperion Catalysis International and ElectroScan Corporation. During his time at IGEN International, he was instrumental in preparing the company for its initial public offering in 1994, its merger with F. Hoffman La Roche in 2004 and the simultaneous spinoff of BioVeris Corporation as an independent public company. As part of his senior manager functions, Mr. Migausky has been responsible for Sarbanes-Oxley compliance, public and private equity financings and corporate partnering arrangements. He is a Certified Public Accountant and received an M.B.A from Babson College and a B.S. from Boston College.
“We are very pleased to announce the appointment of George Migausky as our Chief Financial Officer,” commented Henry E. Blair, Chairman, President and Chief Executive Officer of Dyax. “With his extensive financial, operational and management experience, George will be instrumental in furthering our strategic growth initiatives, particularly as we advance to the next pivotal stages for Dyax.”
Dyax is focused on advancing novel biotherapeutics for unmet medical needs, with an emphasis in oncology and inflammation. Dyax utilizes its proprietary drug discovery technology, phage display, to identify antibody, small protein and peptide compounds. Dyax, on its own or with its partners, has advanced several product candidates from discovery and lead validation into preclinical and clinical development. The Company’s lead product candidate, DX-88, is a recombinant small protein that is being developed by Dyax for its therapeutic potential for treating hereditary angioedema (HAE). DX-88 has orphan drug designation in the U.S. and E.U., as well as Fast Track designation in the U.S., for the treatment of acute HAE attacks. In April 2008, Dyax licensed to Cubist Pharmaceuticals the intravenous formulation of DX-88 for surgical indications in North America and Europe. In addition to using phage display for its internal pipeline, Dyax leverages this technology broadly into revenue generating licenses and collaborations through its Licensing and Funded Research Program (LFRP). Dyax is headquartered in Cambridge, Massachusetts. For more information about Dyax Corp., please visit www.dyax.com.
This press release contains forward-looking statements, including statements regarding the prospects for Dyax’s growth initiatives. Statements that are not historical facts are based on Dyax’s current expectations, beliefs, assumptions, estimates, forecasts and projections about the industry and markets in which Dyax competes. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors which may affect the prospects for Dyax’s growth initiatives include the risks that: DX-88 may not show therapeutic effect or an acceptable safety profile in clinical trials or could take a significantly longer time to gain regulatory approval than Dyax expects or may never gain approval; others may develop technologies or products superior to any of Dyax’s product candidates; Dyax is dependent on the expertise, effort, priorities and contractual obligations of third parties in the clinical trials, manufacture, marketing, sales and distribution of its biopharmaceuticals; Dyax’s product candidates may not gain market acceptance; Dyax may not be able to obtain and maintain intellectual property protection for its product candidates for the duration of the patents covering them; and other risk factors described or referred to in Dyax’s most recent Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. Dyax cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Dyax undertakes no obligations to update or revise these statements, except as may be required by law.
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