Healthcare Industry News: Solace Pharmaceuticals
News Release - April 26, 2010
Satori Pharmaceuticals Adds Key Senior Members to its Leadership TeamSteven Holtzman Elected Chair of the Board of Directors
Jeff Jonker Appointed Chief Business Officer
CAMBRIDGE, Mass., April 26 -- (Healthcare Sales & Marketing Network) -- Satori Pharmaceuticals Incorporated, a privately held developer of therapeutics for Alzheimer's disease, today announced the election of Steven Holtzman to Chair of its Board of Directors and the appointment of Jeff Jonker as its Chief Business Officer.
Steven Holtzman, the Executive Chair and co-founder of Infinity Pharmaceuticals, recently joined the Satori Board of Directors and has now agreed to assume the role of Chair. Steve will work closely with Satori CEO Jeff Ives and Satori's management team to continue to build a leading Alzheimer's drug discovery company.
Jeff Jonker has recently joined Satori as its CBO to further strengthen the leadership of Satori and provide expertise in developing and executing on Satori's corporate strategy. Jeff will be responsible for managing the Company's business functions, including corporate and business development.
"We are excited to have Jeff join as another important addition to our team," said Dr. Ives. "Jeff has an impressive record of building successful companies and establishing strong collaborations. Strategic partners will be significant to us as we continue to grow Satori into a leading Alzheimer's disease drug discovery company, and Jeff will be a key catalyst for forming those partnerships."
Jeff brings a broad range of industry and deal experience to Satori. Jeff was most recently Vice President of Business Development and Strategic Planning for Gloucester Pharmaceuticals (acquired by Celgene). Previously, Jeff served seven years with Genentech in increasing positions of responsibility within both the Business Development and Corporate Legal groups, most recently as Group Director for Business Development and a member of Genentech's Immunology leadership team. Prior to Genentech, Jeff spent six years as an attorney in the Technology Transactions Group of Wilson, Sonsini, Goodrich & Rosati, representing private and public company clients in both the life science and high tech industries. Jeff holds degrees from Columbia University, the University of St. Andrews, and Claremont McKenna College.
"It is a privilege to join Satori's team of world leaders in the field of Alzheimer's research and drug discovery," said Mr. Jonker. "Satori's flagship program focuses on the most compelling target for preventing the progression of Alzheimer's using innovative therapeutic approaches. I am especially impressed by the strong commitment of Satori's management, investors, and scientific advisors to building a company that will have a dramatic impact on this devastating disease."
Jeff joins Ives and Satori's leadership team including: Dr. Brian S. Bronk, Vice President of Chemistry, a former senior neuroscience research leader at Pfizer; Dr. Kevin Pojasek, Executive Director of Development, former head of Development at Solace Pharmaceuticals; and Dr. Barbara Tate, Vice President of Biology, recently a Research Fellow and Senior Director of neuroscience biology at Pfizer.
Alzheimer's disease is a debilitating disorder characterized by the progressive loss of memory, thought and language. More than 5.2 million people in the US alone suffer from Alzheimer's disease and it is estimated that this form of dementia strikes more than 1 in 8 adults in the US over the age of 65 years. By 2050, it is estimated that the number of new cases each year will double in the US to greater than 959,000. Available therapies provide only temporary symptomatic relief.
About Satori™ Pharmaceuticals
Satori Pharmaceuticals is committed to the development of disease modifying therapies for Alzheimer's disease through innovative approaches that selectively target the key neurotoxic mediators and pathways of this debilitating neurodegenerative disorder.
Satori (www.satoripharma.com) was founded in 2005 by Dr. Mark Findeis and PureTech Ventures and is guided by a world renowned group of advisors including Dennis Selkoe, M.D., the Vincent and Stella Coates Professor of Neurologic Diseases at the Brigham and Women's Hospital, an affiliate of Harvard Medical School; Donald Price, M.D., Professor of Pathology, Neurology, and Neuroscience and Vice Chair for Research in the Department of Pathology and Director of the Division of Neuropathology at The Johns Hopkins University School of Medicine; Christopher Eckman, Ph.D., Director for Research and Academic Affairs, MidAtlantic Neonatology and Atlantic Neonatal Research Institute Atlantic Health Systems and Professor of NeuroScience at the Mayo Clinic; David Holtzman, M.D., Andrew B. and Gretchen P. Jones Professor of Neurology and Molecular Biology & Pharmacology at the Washington University School of Medicine in St. Louis; and Paul J. Reider, Ph.D., a faculty member in the department of chemistry at Princeton University and a former senior leader of R&D at Amgen and Merck.
Satori successfully closed a $22M Series B round of financing in early 2009 with a leading investment syndicate of InterWest Partners, New Enterprise Associates and Prospect Venture Partners.
This release may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements reflect, among other things, management's current expectations, plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict including the company's need for additional funds, the company's dependence on a limited number of compounds, the early state of the products the company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the company's ability to avoid infringement of the patent rights of others, and the company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Satori Pharmaceuticals does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
Source: Satori Pharmaceuticals
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