SAN DIEGO, Sept. 8, 2011 /PRNewswire/ -- Althea Technologies, Inc., a leading Contract Manufacturing Organization providing development and manufacturing services for biotechnology and pharmaceutical companies, announced today the appointment of Martha J. Demski as Senior Vice President and Chief Financial Officer. Ms. Demski will oversee the departments of finance, information technology, purchasing and corporate development, and will be responsible for developing strategies to support the company's continued growth.
"We are very pleased to welcome Martha as a new member of Althea's leadership team," said Rick Hancock, President of Althea Technologies. "Her exceptional depth of experience in the biotechnology industry, her demonstrated strategic and operational proficiency, and her multifaceted perspective will be instrumental in supporting the further expansion of our business."
Ms. Demski brings over thirty years of experience in both privately held and publicly traded biotechnology companies and in the financial services industry. Most recently, she served as the Interim Chief Operating Officer and Chief Financial Officer of the Sidney Kimmel Cancer Center. She previously served for over fifteen years as Vice President and Chief Financial Officer of Vical Incorporated, where she was responsible for multiple private and public financings, including an IPO. In addition to Vical, Ms. Demski has held various positions with Bank of America, most recently as Senior Vice President in their U.S. Trust Division. Her board activities include the Board of Chimerix Inc., where she currently serves as Chair of the Audit committee. She holds an M.B.A. with concentrations in finance and accounting from The University of Chicago Booth School of Business, and a B.A. from Michigan State University.
About Althea Technologies, Inc.
Althea Technologies is a fully integrated, contract development and manufacturing organization located in San Diego, CA providing clinical and commercial product development services. Althea offers cGMP drug product filling in both vials and syringes, and production of microbial-derived recombinant proteins and plasmid DNA. In conjunction with these manufacturing operations, Althea offers comprehensive development services including: upstream and downstream process development, analytical development, lyophilization cycle and formulation development, product release and ICH-compliant stability testing. Althea's formulation technology platform includes Crystalomics, a technology that offers a formulation solution for large molecule products that must be delivered at high concentrations or as sustained release formulations. For more information, visit www.altheatech.com.
SOURCE Althea Technologies, Inc.