Healthcare Industry News: enzyme replacement therapy
News Release - June 9, 2009
William Aliski Named FoldRx Chief Commercial OfficerFoldRx adds industry veteran to the management team and completes financing to advance program towards commercialization
CAMBRIDGE, Mass.--(HSMN NewsFeed)--FoldRx Pharmaceuticals, Inc. (FoldRx) announced today that it has appointed William E. Aliski, as Senior Vice President and Chief Commercial Officer, in anticipation of the commercialization of the company’s lead compound, Fx-1006A. Fx-1006A is being developed as the first therapy for the treatment of rare genetic diseases associated with misfolding of a key protein called transthyretin. Mr. Aliski brings to FoldRx a wealth of experience advancing novel therapies for the treatment of orphan diseases to market.
“Bill’s industry experience and successful track record launching orphan drugs for genetic diseases both in the U.S. and the EU adds a new dimension to the organization as we advance our TTR program toward the market,” said Richard Labaudinière, Ph.D., President and CEO of FoldRx. “With the completion of our recent financing and the addition of Bill’s complementary skill set to our management team, we are strategically positioned to transition the company from a development stage R&D company to a successful commercial enterprise.”
“FoldRx has developed an innovative approach to the treatment of protein misfolding diseases and amyloidosis and this is a pivotal time for the company as its lead product, Fx-1006A, advances through clinical development for treatment of TTR amyloidosis,” noted Mr. Aliski. “Currently the only treatment for TTR is liver transplantation, creating a significant and serious unmet medical need for patients suffering from these conditions. I look forward to being a part of launching a novel, disease-modifying, and potentially life-saving medicine that creates value in the marketplace by offering patients and physicians an alternative to liver transplant.”
Mr. Aliski has over 20 years experience in pricing, reimbursement, and commercialization of orphan products to treat genetic diseases. He joins FoldRx from Simon Kucher Partners, a global consulting company specializing in pricing and reimbursement, where he served as Senior Director. Prior to this appointment Mr. Aliski spent two years working in London as the Vice President and General Manager of Biomarin Europe, where he helped establish the company and initiated commercial operations to launch Naglazyme, an enzyme replacement therapy for the treatment of MPS VI (Maroteaux Lamy Syndrome), a rare genetic disease. Prior to Biomarin he managed several commercial functions during his six-year tenure at Transkaryotic Therapies, Inc. (TKT), now Shire Human Genetic Therapies (HGT). While at TKT, he managed commercial operations for the company’s lead product, Replagal, for the treatment of Fabry Disease, opening up key non-US markets, managed pricing and reimbursement of Replagal ex US and helped support TKT 5S, the EU marketing partner to TKT. Mr. Aliski also brings a wealth of relevant commercial experience from his eight years at Genzyme Corporation where he was primarily responsible for reimbursement, distribution and patient support services for the Ceredase and Cerezyme, the first enzyme replacement therapy to treat Gaucher Disease.
Fx-1006A is designed to stop the progression of transthyretin (TTR) amyloidosis caused by the ‘misfolding’ of the TTR protein and subsequent accumulation of amyloid fibrils in various tissues, such as the heart and peripheral nerves, which can causes cardiomyopathy and neuropathy, respectively. Data are expected in the second half of the year from the company’s pivotal Phase II/III trial evaluating Fx-1006A for treatment of TTR amyloid polyneuropathy. Patients who have completed this 18-month Phase II/III pivotal study are now being enrolled in a one-year open-label follow-up study with Fx-1006A. Additionally, enrollment has been completed in two additional open-label Phase II studies, one studying the effects of Fx-1006A in ATTR polyneuropathy patients with various TTR mutations not included in our Phase II/III trial and the other in ATTR-cardiomyopathy patients.
About FoldRx Pharmaceuticals, Inc.
FoldRx Pharmaceuticals is a development and discovery company focusing on first-in-class, disease-modifying, small molecule therapeutics to treat diseases of protein misfolding and aggregation (amyloidosis). Protein misfolding is increasingly being recognized as an underlying cause of many chronic degenerative diseases. By applying FoldRx’s proprietary expertise in protein folding and its platform for drug and target discovery, the company is building a pipeline, initially for neurodegenerative and cardiovascular conditions. FoldRx’s initial pipeline includes a program in clinical development to treat genetic neurologic and cardiovascular disorders, TTR Amyloid Polyneuropathy and TTR Amyloid Cardiomyopathy, and discovery programs in Cystic Fibrosis and neurodegenerative diseases, including Parkinson’s disease, based on its broad, proprietary, yeast-based drug discovery platform. For more information on FoldRx, please visit the company’s web site at www.foldrx.com.
Source: FoldRx Pharmaceuticals
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