Healthcare Industry News: Portola Pharmaceuticals
News Release - September 20, 2013
Vital Therapies, Inc. Expands Board of DirectorsSAN DIEGO, CA--(Healthcare Sales & Marketing Network) - Vital Therapies®, Inc. (VTI), a biopharmaceutical company developing a cell-based therapy targeting the treatment of acute liver failure, today announced election of Jean-Jacques Bienaimé to the company's Board of Directors.
Jean-Jacques Bienaimé is the Chief Executive Officer and a member of the Board of Directors of BioMarin® Pharmaceutical Inc., (NASDAQ: BMRN), a market-leader in the development and commercialization of innovative biopharmaceuticals for serious diseases and medical conditions. The company's product portfolio comprises four approved orphan drug products and multiple clinical and pre-clinical product candidates. Approved products include Naglazyme® (galsulfase) for mucopolysaccharidosis VI, Kuvan® (sapropterin dihydrochloride) for phenylketonuria, Aldurazyme® (laronidase) for mucopolysaccharidosis I, and Firdapse™ (amifampridine phosphate) for Lambert-Eaton myasthenic syndrome.
Under Mr. Bienaimé's leadership BioMarin's market capitalization has grown from its May 2005 value of $450 million to its current value of $11 billion. The company generated $500.7 million in revenue in 2012, a 13.4% increase over the prior 12 months.
Mr. Bienaimé is a member of the board of directors of InterMune, Inc. (NASDAQ: ITMN), a member of the board of directors of Portola Pharmaceuticals, Inc. (NASDAQ: PTLA), and a member of the board of directors for Biotechnology Industry Organization. He received an M.B.A from the Wharton School at the University of Pennsylvania and a degree in economics from the Ecole Superieure de Commerce de Paris.
Muneer Satter, VTI's Co-Chairman and Lead Director said, "We are delighted to have Mr. Bienaimé's invaluable guidance on our Board of Directors. BioMarin is a true innovator in the development and marketing of orphan biologic therapies. We welcome JJ's expert advice as we enter our phase 3 trials and soon begin preparations for potential commercialization."
About Vital Therapies Inc
Vital Therapies, Inc. is a private biopharmaceutical company developing a cell-based therapy targeting the treatment of acute liver failure. The company's lead product-candidate, ELAD, is an extra-corporeal bio-artificial liver currently in phase 3 clinical trials. VTI is based in San Diego, California.
ELAD is a Phase 3 investigational extracorporeal bio-artificial liver therapy designed to supplement hepatic function in order to improve survival rates among patients with acute liver failure. ELAD consists of a re-usable bedside unit attached to four disposable cartridges, which collectively contain thousands of hollow fibers and approximately one pound of immortal human C3A cells from our proprietary cell bank. The patient's plasma flows inside of the hollow fibers to allow two-way transfer of metabolites. The system has been shown to process toxins, and synthesize proteins and metabolites in ways that mimic components of normal human liver function. The ELAD cell cartridges are produced at VTI's GMP-compliant facility in San Diego, California. Moreover, the therapy has received Orphan Designation in both the United States and Europe for the treatment of acute liver failure.
Vital Therapies® and ELAD® are trademarks of Vital Therapies, Inc.
BioMarin®, Naglazyme®, Kuvan® and Firdapse™ are registered trademarks of BioMarin Pharmaceutical Inc.
Aldurazyme® is a registered trademark of BioMarin/Genzyme LLC.
This press release may contain forward-looking statements, including but not limited to statements regarding current and future clinical studies in our Phase 3 program and ELAD's potential market launch. These statements relate to future events and are subject to risks, uncertainties and assumptions about Vital Therapies, Inc. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. Many factors may cause our actual results to differ materially from any forward-looking statement. We do not undertake to update any forward-looking statements.
Source: Vital Therapies
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