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Dennis Goldberg Appointed To CEO Of Transport Pharmaceuticals


8/14/2006 8:48:18 AM

FRAMINGHAM, Mass., Aug. 14 /PRNewswire/ -- Transport Pharmaceuticals, Inc. (Transport), a leader in drug/medical devices for the topical treatment of dermatological conditions, announced today that Dennis Goldberg, Ph.D., President and Chief Operating Officer, has been appointed to Chief Executive Officer.

Most recently, Dr. Goldberg has served as President and Chief Operating Officer of Transport since October 2004 and as President, Chief Executive Officer and Founder of neXus Therapeutics, Inc., a biotechnology management and consulting company providing exclusive management services to Transport. He has 20 years of experience in the pharmaceutical and biotechnology industries, ranging from drug discovery at a Fortune 25 pharmaceutical company to President and CEO of multiple "virtual" biotechnology companies.

In a related announcement, Transport also reported that it has acquired all the assets and employees of neXus Therapeutics.

Charles Hadley, Chairman of the Board commented, "Under Dennis's astute leadership, Transport has evolved into a leading drug/device convergence company with a dedicated management team that possess core competencies in electrical engineering, chemistry/drug formulation, materials science and drug development. Dennis is the right person to lead Transport into the next phase of its clinical development and I am delighted to appoint him to this leadership position."

Dennis Goldberg, Ph.D., President and Chief Executive Officer added, "I am excited to guide Transport through its evolution to a drug/device development company. We are building an outstanding organization. We will soon publish Phase II proof-of-concept data for our first-generation herpes labialis (cold sores) drug/device combination product and we expect to conduct additional Phase II trials in the next twelve months."

Prior to his tenure at neXus and Transport, Dr. Goldberg served as President and CEO of BZL Biologics, a virtual company that developed the huJ591 antibody to Prostate Specific Membrane Antigen (PSMA) for the treatment of prostate cancer. He was also President and CEO Talaria Therapeutics, a company that developed Large Unilamellar Vesicles (LUVs) for the treatment of acute coronary syndrome. Dr. Goldberg was also Vice President for Drug Development and Regulatory Affairs at GelTex Pharmaceuticals, which was acquired by Genzyme Corporation for $1 billon. At GelTex Pharmaceuticals, Dr. Goldberg was responsible for the development of RenaGel and Welchol.

About Transport's Iontophoresis Delivery Platform

Transport's drug/delivery platform is based on the combination of iontophoresis, a technology employing a low-voltage electrical charge to locally deliver larger amounts of medications through the skin, and proprietary drug formulations optimized for electrokinetic delivery. The Company has developed a small, wireless microprocessor-controlled drug delivery device and pre-filled drug reservoir cartridges that will allow patients to self-administer topical drugs for a variety of indications. The system consists of a reusable control unit and disposable, single-use medicated cartridges. The pre-filled cartridges contain a single unit dose of drug.

About Transport's Herpes Labialis Drug/Device

The Company's lead combination product improves the delivery of acyclovir, a drug already approved for the treatment of cold sores. Transport's proprietary acyclovir formulation is delivered over a ten minute treatment time, directly to impacted skin areas, at considerably higher concentrations than existing approved topical formulations. To date, Transport has clinically validated its technology in several US clinical trials in more than 750 patients using the company's first generation iontophoretic device and an approved topical acyclovir formulation including a Phase IIb double-blind, placebo-controlled study in which patients that were treated at the first stage of the herpetic episode (erythema stage) demonstrated a three day difference in healing time and all patients demonstrated a median time to healing of one day and one half. (Clinical Infectious Disease V. 43, p. 460)

About Transport Pharmaceuticals, Inc.

Massachusetts-based Transport Pharmaceuticals, Inc. is a privately-held venture back company. To date, the Company has raised US $35.6 million in venture financing. Current venture investors include Quaker BioVentures, The Carlyle Group, The Hillman Company, The Halleran Company and EGS Healthcare. For more information, please visit http://www.transportpharma.com.

Source: Transport Pharmaceuticals, Inc.

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