Healthcare Industry News: Elan Corp
News Release - November 24, 2008
David R. King Joins Diasome Pharmaceuticals as Chairman of the BoardConshohocken, Pa—November 24, 2008—(HSMN NewsFeed)--Diasome Pharmaceuticals, Inc., a clinical stage diabetes therapeutics company, announced today that David R. King has been appointed as the Company’s Chairman of the Board.
“Diasome Pharmaceuticals is on the forefront of diabetes treatment,” says King. “I’m looking forward to working with the team at Diasome as it initiates long-term testing of Oral HDV-Insulin in Type II diabetes patients and continues the development of various HDV Insulin dose forms.”
King brings a wealth of industry expertise to Diasome Pharmaceuticals. He was a founder and CEO of BioRexis Pharmaceutical Corporation, which was later acquired by Pfizer, Inc. Previously, he served as the CEO of Principia Pharmaceutical Corporation, which was acquired by Human Genome Sciences, Inc.; and as President of Delsys Pharmaceutical Corporation, which was acquired by Elan Corporation.
In addition, King spent more than 25 years with one of the country’s largest and most prominent law firms, where he gained extensive experience in all aspects of the growth cycle of biotech companies, from venture financing to public offerings and strategic partnerships with pharma companies. He also served as a director of Cephalon, Inc. (NASDAQ:CEPH ), 3-Dimensional Pharmaceuticals, Inc., and Morphotek, Inc. Currently, he is a venture partner in Quaker BioVentures, and serves as chairman of Xencor, Inc. King graduated from the University of Pennsylvania and Harvard Law School.
“We’re excited to bring David’s invaluable experience to Diasome,” says Len Rosenberg, Ph.D., R.Ph, Diasome’s Chief Executive Officer. “He has been a part of several successful venture-backed companies in the Philadelphia region, and we know he will be an incredibly valuable asset as we embark on late-stage testing of our lead product.”
Oral HDV-Insulin is Diasome’s drug delivery system for recombinant human insulin, and is based on a nano-sized insulin carrier that is specifically targeted to hepatocytes, the primary metabolic cells in the liver. Diasome’s therapies have been tested in more than 100 subjects throughout the course of several Phase II human studies, and show a remarkable ability to lower blood glucose levels in diabetics.
Diasome Pharmaceuticals’ venture investors include Quaker BioVentures, Devon Park Bioventures, and the BioAdvance Venture Fund.
About Diasome Pharmaceuticals, Inc.
Diasome Pharmaceuticals, Inc. is a venture-backed biopharmaceutical company focused on novel insulin-based therapies for the improved treatment of diabetes. The Company was formed in late 2004 and has completed multiple Phase II human studies of HDV-Insulin, its proprietary insulin targeting system. Diasome uses a unique, bionano-technology based cell targeting system to preferentially deliver insulin to specific sites in the body. This technology has led to the development of Oral HDV-Insulin, an advanced oral delivery system for insulin. For more information, please visit Diasome’s website at www.diasome.com.
Source: Diasome Pharmaceuticals
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