Healthcare Industry News: Merck
News Release - January 5, 2011
Cempra Pharmaceuticals Names Carl Foster Executive Vice President of Business DevelopmentCHAPEL HILL, N.C., Jan. 5, 2011 -- (Healthcare Sales & Marketing Network) -- Cempra Pharmaceuticals announced that Carl Foster has been named Executive Vice President of Business Development. Mr. Foster will be focusing on business development activities related to the company's two lead antibiotic programs, the next-generation fluoroketolide solithromycin (CEM-101), that is in Phase 2 clinical development for community-acquired bacterial pneumonia (CABP), and TAKSTATM (CEM-102 or fusidic acid), that has completed Phase 2 clinical trials for acute bacterial skin and skin structure infections (aBSSSI) including those caused by methicillin-resistant Staphylococcus aureus (MRSA).
Mr. Foster brings with him over 20 years of industry experience in business development and leadership in the biotechnology, pharmaceutical and diagnostic industries. Most recently, Mr. Foster was the Chief Executive Officer of Juilab, a European-based genomics company. Additionally, he held business development positions at several other development-stage biopharmaceutical companies including King Pharmaceuticals, Praecis Pharmaceuticals, Oxford GlycoSciences and Astra Merck. Mr. Foster has also served as an advisor to pharmaceutical and biotechnology companies as a consultant and as a Managing Director with Ferghana Partners, Inc., an international investment banking group in New York City.
"Mr. Foster has a proven track record of success in business development," said Prabhavathi Fernandes, Ph.D., president and chief executive officer of Cempra Pharmaceuticals. "He has extensive experience leading successful pharmaceutical development efforts to help companies maximize their portfolio's potential and capitalize on growth opportunities. His contribution will be vital because of the mid-clinical-stage status of our programs for solithromycin and TAKSTA."
Mr. Foster added, "Cempra's two lead antibiotic candidates not only have a significant commercial potential but also may help fulfill the need for new and effective antibiotics. Solithromycin and TAKSTA have the potential to treat CABP and aBSSSI, respectively. I am excited about the products we have to offer and I look forward to helping Cempra bring these two products to market."
About Cempra Pharmaceuticals
Founded in 2006, Cempra Pharmaceuticals is a privately-held, clinical-stage pharmaceutical company focused on developing antibacterials to address critical medical needs. Two lead products, both in late-stage clinical trials, address the urgent and increasing need for new treatments targeting drug-resistant bacterial infections in the hospital and in the community. Cempra is well-funded and is committed to developing commercially and medically differentiated and novel products that reduce development risk and provide a high financial return. The company is also utilizing its proprietary compound library and chemistry technology to develop novel macrolides without antibacterial activity for non-antibiotic uses such as COPD, chronic inflammatory and GI disorders. Additional information about Cempra can be found at www.cempra.com.
Source: Cempra Pharmaceuticals
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