Healthcare Industry News: Transdermal
News Release - September 23, 2008
Vyteris Announces Growth Initiative Through Expanded Business Development TeamBusiness Development Professionals to Team-up on Pursuit of Licensing and Partnership Opportunities
FAIR LAWN, N.J.--(HSMN NewsFeed)--Vyteris, Inc. (OTCBB: VYTR ), developer and manufacturer of the first FDA-approved active patch Transdermal drug delivery system (LidoSite®) and a leader in active Transdermal drug delivery technology, announced the establishment of its Business Development Team. Vyteris’ Business Development Team will focus on attracting opportunities with biopharma companies and others to jointly develop products involving delivery of compatible drugs with Vyteris’ patented Smart Patch Transdermal drug delivery technology.
“The formation of this team is an integral step in our previously announced strategy to bring in top notch business development experts in the biopharmaceutical industry and pursue compatible molecular compounds for use in our Transdermal technology,” said Haro Hartounian, Ph D., president of Vyteris, Inc. “Following our current female infertility project with Ferring Pharmaceuticals, Inc., our goal now is to expand the availability of our proprietary technology to compounds that may benefit through the potential for optimized dose scheduling, improved patient compliance efficacy and extended patent protection when combined with our drug delivery system.”
Business Development Program
Based on Vyteris’ prior positive experiences with peptide feasibility projects and progress to date in its joint development program with Ferring Pharmaceuticals, Inc., Vyteris is launching a comprehensive program with three major goals: (i) to identify and secure near term development programs, (ii) to launch a biotech/pharma outreach initiative to secure additional peptide collaborations and (iii) to license its LidoSite product internationally.
The Vyteris team has already qualified several biopharmaceutical compounds as potential candidates for Vyteris’ Transdermal technology and completed feasibility work in a select number of cases. The business development team will help move Vyteris into a leadership role in the peptide Transdermal drug delivery space through high-profile co-development partnerships.
The members of the Business Development Team -- Fritz H. Rudert, Ph.D., Marc A. Silver and Georgia Erbez -- are experienced professionals in drug and technology licensing, pharmaceutical development and joint venture opportunities:
Fritz H. Rudert, Ph.D.
With more than 18 years of biopharma industry experience, Fritz Rudert currently serves as General Manager of FHR Consult, a Munich-based business development and corporate strategy consultancy, founded in 2003. Previously, he held management positions at Xerion Pharmaceuticals, Morphosys and Genesis R&D Corporation. FHR Consult is particularly focused on research, development and commercialization of biologics, such as antibodies, and other targeted medicines. Fritz combines a broad scientific background with an extensive hands-on experience in international business development and licensing and has completed many technology and product partnership agreements.
Marc A. Silver
Marc Silver’s over 20 years of business development experience in the biotechnology industry including senior management positions where he held oversaw corporate partnership development, licensing, intellectual property, and initial operations. Previously Mr. Silver was Vice-President of Corporate Development at Praecis Pharmaceuticals and Vice President of Healthcare Investments at Harvard Management. He has an extensive “deal sheet” including significant development and commercialization transactions with several major multinational biopharmaceutical firms. He is currently founder and president of Silver BioSeed Advisors.
Georgia Erbez is an investment banking consultant with experience in executing IPOs, follow-ons, PIPEs, convertible debt offerings and providing merger and acquisition advisory services. She has over 18 years of investment banking experience and has focused exclusively on life sciences companies for the past ten years. Previously, she has worked in the health care investment banking groups at Cowen and Company, LLC and Jefferies & Co. and consummated over 65 financing and merger transactions in the health care industry valued at over $6.3 billion.
About Vyteris, Inc.
Vyteris, Inc. is the maker of the first active, ready-to-use drug delivery patch (LidoSite®) to receive marketing clearance from the U.S. Food and Drug Administration (FDA). Vyteris’ proprietary active Transdermal Smart Patch technology delivers drugs comfortably through the skin using low-level electrical energy (iontophoresis). This Smart Patch technology allows precise dosing, giving physicians and patients control in the rate, dosage and pattern of drug delivery that may result in considerable therapeutic, economical, and lifestyle advantages over existing methods of drug administration. Vyteris recently announced success in non-invasive delivery of a peptide using its system, where the company demonstrated achievement of therapeutic levels of a peptide without using any needles. For more information, please visit us at www.vyteris.com.
Vyteris Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “would,” “should,” “believes,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include, without limitation, statements concerning the potential impact of the new marketing agreement and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others, the competitive environment and competitive responses to the new marketing arrangement. The Company has described other important risks and uncertainties under the caption "Risk Factors" in its most recent Annual Report on Form 10-KSB and in various filings made with the SEC. Actual results may differ materially from those contained in the forward-looking statements in this press release.
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