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AssureRx Adds New CEO


6/9/2009 7:22:52 AM

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CINCINNATI, June 9 /PRNewswire/ -- AssureRx, a personalized medicine company, announced today that James S. Burns has joined the Mason-based company as its new President and CEO.

Burns comes to AssureRx with more than 30 years of executive experience in the strategic management of science and technology for pharmaceutical, diagnostic, and biotech companies. Most recently, he was president and CEO of Maryland-based EntreMed Inc., a public clinical-stage pharmaceuticals company developing drugs for the treatment of cancer and inflammatory diseases.

Previously, he was a co-founder and president of MedPointe Pharmaceuticals Inc., a specialty pharmaceuticals company that develops, markets, and sells branded prescription pharmaceuticals. He also was founder and managing director of MedPointe Capital Partners, a private equity firm that led the buyout of a New York Stock Exchange company to form MedPointe Pharmaceuticals.

Mr. Burns was also a founder, chairman, president and CEO of Osiris Therapeutics Inc., a public biotech company developing therapeutic stem-cell products for the regeneration of damaged or diseased tissues. Previously, he was a founding general partner of Healthcare Ventures LP, a venture capital partnership specializing in forming companies built around new pharmaceutical and biotechnology products; a group president at Becton Dickinson and Co.; and a partner at Booz Allen Hamilton, a global strategy and technology consulting firm.

"We are thrilled to have a person of Jim's caliber leading the company into the next phase of its growth. His depth and breadth of experience as CEO of successful early-stage health care companies positions AssureRx for continued leadership in the rapidly expanding field of personalized medicine," said John C. McIlwraith, chairman of AssureRx and managing director of Blue Chip Venture Co.

Commenting on the significant potential of personalized medicine, Burns noted that "AssureRx represents an exciting opportunity to bring cutting-edge pharmacogenetic science and informatics together into practical use for the benefit of behavioral health patients. The company's first product will be GeneSightRx(TM), a lab-developed test which uses cutting edge technology to measure and analyze several important genetic variants in psychiatric medicine. The results of the report can help a doctor understand the way a patient's unique genetic makeup may affect how certain psychiatric drugs work."

"I believe that this technology has the potential to place AssureRx on the forefront of the emerging personalized medicine market. I look forward to leading the company during this exciting period of its development."

About AssureRx

AssureRx is a personalized medicine company that specializes in pharmacogenetics and is dedicated to helping physicians determine the right drug at the right dose for individual patients suffering from medical conditions. The company was founded in June 2006 to license and commercialize industry-leading personalized medicine technology of Mayo Clinic and Cincinnati Children's Hospital Medical Center. More information on AssureRx: www.assurerxhealth.com

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