[March 03, 2015] |
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PhaseBio Announces Expansion of Leadership Team
PhaseBio Pharmaceuticals, Inc., a leading company in the field of
biopolymer-based drugs and focused on developing treatments for
metabolic and specialty cardiopulmonary disorders, today announced the
expansion of its leadership team. Clay Thorp, general partner at
Hatteras Venture Partners, has been named Executive Chairman of the
board of directors, Jonathan P. Mow has assumed the role of Chief
Executive Officer, and James Ballance, Ph.D., has been appointed Vice
President, Research and Scientific Affairs.
"PhaseBio is positioned for growth, and the strengthening of our
leadership team enables the company to leverage our proprietary
discovery platform technology in multiple therapeutic areas, including
metabolic and orphan diseases," said Mr. Thorp. "I am pleased to work
with Jonathan, Jim and the rest of the PhaseBio team in this new
capacity to advance the pipeline and realize the full potential of this
novel technology."
Mr. Thorp is a general partner with Hatteras Venture Partners and brings
many years of experience in starting and building biotechnology
companies. As a member of the founding team for Synthematix, a research
informatics company, Xanthon, a genomic biosensor company and Novalon, a
drug discovery company, Mr. Thorp has been involved in establishing
early strategic direction, raising capital and structuring licensing
deals. Mr. Thorp is a co-founder and former Chairman of PhaseBio.
"Our research and development-focused management team, committed
investor base andvalidated discovery platform have laid a strong
foundation for PhaseBio," said Mr. Mow. "I am thrilled to work alongside
this accomplished leadership team to bring important therapies to
patients suffering from rare diseases."
Mr. Mow is a life sciences executive with more than 25 years of
experience in biotech management. He previously served as Chief Business
Officer of PhaseBio. Prior to PhaseBio, Mr. Mow ran Amylin
Pharmaceuticals' business development unit, culminating with the
company's sale to Bristol-Myers Squibb in 2012. Prior to Amylin, Mr. Mow
co-founded and managed Corus Pharma until its sale to Gilead in 2006.
Earlier in his career, Mr. Mow held various roles in business
development, marketing and sales with PathoGenesis Corporation,
Bristol-Myers Squibb, Wyeth Pharmaceuticals, Lederle Laboratories
International and Syntex Laboratories.
"Having previously played a central role in the development of albumin
and transferrin fusion proteins, I am particularly intrigued by the
power of PhaseBio's Elastin-Like Polypeptides platform to control uptake
from the injection site and prolong circulatory half-life," said Dr.
Ballance. "PhaseBio's technology has the potential to make a meaningful
difference in a variety of serious diseases."
Dr. Ballance has more than 25 years of experience in the biotech
industry, within both small biotech and large pharma, specializing in
early stage research, product development, cGMP manufacturing,
technology transfer and the management of intellectual property. He has
led the development of drug products from conception to manufacturing,
and has expertise in business development interactions with large pharma
and biotech companies. Previously, he was Vice President of Technology
Development at BioRexis Pharmaceuticals and Director of Business
Development at Aventis Behring. Dr. Ballance invented albumin fusion
proteins while at Delta Biotechnology in the U.K., where he led the
Research and Development department.
About PhaseBio
PhaseBio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical
company developing novel drugs to treat diabetes and cardiovascular
dysfunction in patients suffering from rare diseases. The Company's
proprietary discovery platform technology uses recombinant ELP
biopolymers to control the half-life, bioavailability and physical
characteristics of molecules for ease of administration. The resulting
compounds are tuned for a specific rate of absorption, thereby
increasing efficacy and reducing side effects. The Company's lead
development candidates are PE0139, a novel basal insulin ELP-fusion with
the potential for weekly dosing; and PB1046, a weekly VIP agonist for
treatment of acute and chronic heart failure and Duchenne muscular
dystrophy-associated cardiomyopathy. PhaseBio is privately owned, with
headquarters and research laboratories in Malvern, PA.
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