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As Saspject Enters Phase II Phico Therapeutics Announces Dr Anthony F. Martin as Board Chairman


11/1/2010 2:16:04 PM

CAMBRIDGE UK, 1 November 2010 – Phico Therapeutics today announces the appointment of Anthony F. Martin, PhD to the position of Non-Executive Chair. Dr Martin takes over from Dr Flic Gabbay after eight years in the position. Dr Martin has had substantial success in helping early-stage life science companies gain access to capital. In 2006, as Chairman of NeuTec Pharma plc he guided the biopharmaceutical company through a listing on the AIM market in the United Kingdom and its subsequent sale to Novartis for over £300million.

“Dr Gabbay has been Chair since mid-2002 and has played an instrumental part in getting to where we are now, with a first product in clinical development”, said Dr Heather Fairhead, CEO of Phico Therapeutics. “Anthony’s experience and insight are just what we need right now, to guide us through the next stages of our development” she continued.

Dr Martin, has more than 20 years' experience in providing life science and biotechnology companies counsel on a range of strategic, management and funding issues, most recently as Chairman of Molecular Insight Pharmaceuticals Inc. a NASDAQ quoted biophama Company specialising in new radiotherapies for heart disease and cancer.

Dr Martin will focus on Phico’s strategic initiatives and provide tactical direction to ensure that Phico remains on track to meet clinical and developmental milestones.

The founder and Managing Partner of TMA Consultants, Dr Martin is currently Chairman of Sphere Medical Holdings plc, Wound Solutions Ltd., Safeguard Biosystems Holdings Ltd. and 1Voice1Vision Ltd.

Dr Martin’s other Non-Executive Directorships have included Prelude Trust plc, an investment trust specialising in early-stage, technology-based businesses and he has also held senior positions in a number of well-known life science businesses both in the United Kingdom and United States including:

- Managing Director of British Biotech Products Ltd

- Chairman, President and CEO of Molecular Probes (sold to Invitrogen for $325 million in 2003)

- President of Molecular Biology, Invitrogen Corporation

- Chairman and CEO of AZUR Environmental

- CEO of Celsis International plc {which he took public in 1993 at a market cap of £60 million, raising £20 million in the issue}

- Senior leadership roles at Amersham International plc

Dr Martin holds a Ph.D. in Immunology and a first class honours degree in Applied Chemistry from the Universities of Manchester and Huddersfield, UK.

Contact

Dr Heather Fairhead CEO Phico Therapeutics Ltd. Babraham Research Campus Babraham, Cambridge, CB22 3AT +44 (0)1223 496755 info@phicotherapeutics.co.uk www.phicotherapeutics.co.uk

About Phico Therapeutics

Phico Therapeutics has developed a unique antibiotic technology to destroy multi-drug resistant bacteria.

Phico’s first product, SASPject PT1.2 developed initially to treat nasal infections of the bacteria Staphylococcus aureus including the superbug MRSA, is the first in a new class of antibacterial therapy forming Phico Therapeutics’ antibiotic platform technology. SASPject™ is specifically designed to combat the problem of drug resistance.

Early clinical development of, SASPject™ PT1.2 is backed by The Wellcome Trust. Other products in development target Clostridium difficile and Gram negative bacteria including Escherichia coli, Klebsiella pneumoniae and Pseudomonas aeruginosa.

Phico Therapeutics has successfully completed a phase I trial showing that SASPject PT1.2 is safe and well tolerated in healthy human volunteers. Plans for a phase II trial to assess efficacy are already underway.

Founded in 2000, Phico Therapeutics has attracted over £9m in funding from multiple sources. With seed funding from Cambridge Research and Innovation Ltd. (CRIL), Phico Therapeutics succeeded in securing four subsequent rounds of funding from both government and private sources. In 2001 and 2002, Phico won DTI grants worth £45,000 and £105,000. Building on the success of the anti-MRSA SASPject system funded by these grants, the DTI granted a further £200,000 to adapt SASPject to fight the bacterium Clostridium difficile. In early 2009, Phico raised a further £1M from a group of venture capital and business angel funders including Emblem Technology Partners, Providence Investment Company, Parallel Ventures, Cambridge Capital Group, OION, Angels for Growth and London Business Angels. In March 2010 Phico announced a further £1.8 million raised from institutional investors and business angels bringing total investment in the company to over £9 million.

The Wellcome Trust has granted Phico a Strategic Translation Award of £1.03M that will fund SASPject PT1.2 through phase I and II clinical trials. SASPject PT1.2 has been shown in pre-clinical trials to eradicate S. aureus including drug resistant strains.

Phico’s offices and laboratory are located at the Babraham Research Campus in Cambridge, UK, in the Cambridge Cluster biotech hub. The company employs a staff of sixteen, including eight post doctoral R&D scientists.

http://www.phicotherapeutics.co.uk/

Genevieve Robson Streaming Well Ltd. 26 Wolverton Gardens London W6 7DY

Tel: 07540 413 914 www.streamingwell.com Reg. No. 6845899


Read at BioSpace.com

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