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MedPharm Ltd Appoints New Director Of Business Development

10/19/2005 5:12:08 PM

Oxford, July 21: MedPharm today announced the appointment of Dr Simon Bennett, formerly of leading biotechnology firms Oxagen and Solexa, as Director of Business Development. The appointment comes at an exciting time for MedPharm as the company starts to build its own portfolio of projects using patented drug delivery approaches particularly in the nasal and dermatological fields. At Bio 2005 in Washington, the company launched its MedSpray alternative to creams, while unique in vitro nail formulation testing models have been devised to accelerate the development of new ungual drugs, and a nasal sedative formulation collaboration with bi-directional nasal delivery specialists OptiNose is also underway.

MedPharm CEO Dr. Andrew Muddle sees Simon as a valuable addition to the team:"MedPharm are moving up a gear by developing our own delivery systems which will also add significant value to customer projects. Simon brings invaluable additional commercial experience to MedPharm. He will complement Carole Delauney who will continue to expand our contract service offering, which has been growing at about 40% a year, and will also lead our expansion into GMP manufacturing. In the short term a number of licensing in and out opportunities will be coming up which Simon will be dealing with. Looking further ahead he will also strengthen the management team as we look to transform MedPharm."

With a proven track record in academic research, Simon joined Oxagen in its infancy in 1997 and established and built its franchise in Women’s Health, formerly as Programme Director and later as Director of Business Development. Having successfully made the transition from research to business development, in 2003 he joined the Executive Team of Solexa where, as Business Development Director, he was responsible for all business development and marketing activities as well external communications leading up to the recent reverse takeover of Nasdaq-listed Lynx Therapeutics. Simon is excited about the opportunities at MedPharm: “ I am joining a successful company that now has the ability to move from being a contract services provider to developing and licensing its own innovative delivery systems, and exploiting these in its own in-house drug development pipeline. MedPharm has a huge amount to offer not only in an expanding outsourcing market but also, and more importantly, in the growing area of novel ways of delivering and re-formulating existing compounds that have already been in man and opening these up for use in other indications. I look forward to building MedPharm’s profile and business in the sector.

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