NEW PROVIDENCE, NJ--(Marketwire - January 22, 2013) - Edge Therapeutics, Inc., announced today the appointment of Isaac Blech, a leading biotechnology entrepreneur and investor, as Vice Chairman of its Board of Directors. Separately, the company announced that Sol J. Barer, Ph.D., who has served on the Board since 2011, will become chairman effective January 1, 2013.
Dr. Barer has more than 30 years of experience with publicly traded biotechnology companies. At Celgene Corporation [CELG], he spent 18 years leading Celgene as president, COO and CEO, culminating with his tenure as Celgene's executive chairman and chairman before retiring in June 2011. Under his helm, Celgene became the third largest independent biotechnology company in the world and a member of the S&P 500 with a current market capitalization exceeding $35 billion. Dr. Barer serves on the Board of several companies including: Amicus Therapeutics, Inc. [FOLD] and Aegerion Pharmaceuticals, Inc. [AEGR], and is Chairman of the Board of Cerecor, Inc, ContraFect Corp., InspireMD, Inc. and Medgenics, Inc. [MDGN].
Over the past three decades, Mr. Blech has become one of the most successful private financiers in the biotechnology industry. He has been instrumental in establishing some of the world's leading biotechnology companies including Celgene Corporation, Genetic Systems Corporation, ICOS Corporation, Nova Pharmaceutical Corporation and PathoGenesis Corporation. These companies are responsible for major advances in oncology, infectious disease and cystic fibrosis. Current roles include: Founder, Vice Chairman, Cerecor, Inc., a private company developing new treatments for central nervous system disorders; Director, ContraFect Corporation, a private company developing therapies for infectious diseases; Vice Chairman, Premier Alliance Group, an energy and financial regulation consulting company; Director, Medgenics, Inc.; and Vice Chairman, BillMyParents, Inc., an innovator in e-commerce for the youth market.
"We are honored to welcome Mr. Blech to our Board of Directors and are extremely pleased that Dr. Barer has agreed to take on additional responsibilities," said Brian Leuthner, co-founder and CEO of Edge Therapeutics. "We are confident that with their guidance Edge can build a commercial biopharmaceutical company well-positioned to develop valuable and potentially life-saving therapies that address complications after ruptured brain aneurysms, subdural hematomas, and other types of brain hemorrhage."
"Edge is seeking to build novel products using a site specific, sustained release microparticle technology platform," said Isaac Blech. "I am delighted to help Edge Therapeutics build the capabilities and organizational structure needed to carry its products through clinical trials, regulatory approval and ultimately to the patients who can benefit from these therapies."
About Edge Therapeutics
Edge Therapeutics is a clinical-stage, hospital-focused biopharmaceutical company that uses its novel site-specific and sustained-release microparticle technology platform to deliver drugs to the brain to prevent complications occurring after subarachnoid hemorrhage, subdural hematoma and intracerebral hemorrhage, all of which currently have minimally effective or no effective therapies. Edge works with some of the world's foremost scientists and critical care physicians from leading academic research centers to develop proprietary formulations of known active drugs for direct therapeutic delivery to the site of injury in the brain.
The Company's patent-pending bio-absorbable microparticle formulations release drugs locally and consistently at therapeutic concentrations in the brain, with the objective of maximizing therapeutic activity and avoiding treatment-limiting systemic side effects seen with current treatments. Currently, oral- or i.v.-administered therapies are employed but in suboptimal concentrations due to the generation of systemic side effects. Edge's lead products, EG-1962 (nimodipine microparticles) and EG-1964 are being developed to prevent various delayed complications after brain hemorrhage. EG-1962 is a proprietary microparticle formulation of the generic calcium channel blocker nimodipine, while EG-1964 delivers a hemostatic agent. For more information on Edge Therapeutics, Inc., please visit: www.edgetherapeutics.com