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Flavin Ventures Announces Start Up - Molecular Formulations, LLC, Initial Funding And Appointment Of CEO For Life Sciences Company



10/19/2005 5:10:34 PM

WOODRIDGE, Ill., March 23 /PRNewswire/ -- Flavin Ventures has announced the start up and funding of a life sciences company it is adding to its growing portfolio. Flavin Ventures has helped launch Molecular Formulations, LLC ( http://www.molecularformulations.com/ ), a Woodridge, Ill.,-based life sciences research and development company that offers formulation development and drug delivery expertise to pharmaceutical and biotechnology clients. Molecular Formulations will be led by Sharon W. Ayd, Ph.D., MBA, a nationally recognized executive with 24 years of pharmaceutical industry experience.

One of the rate-limiting steps in early drug development is identification of the appropriate formulation for a new compound. Molecular Formulations focuses on identifying optimal formulation features early in the drug development process during pre-clinical development to increase the efficiency in downstream clinical development activities.

"Many promising drug candidates fail in their early development due to poor bio-availability. Molecular Formulations will develop delivery systems that enhance drug distribution after administration. Our drug development services and technologies are focused on determining the drug-like character of the molecule and then developing a prototype formulation suitable for toxicology and dose ranging studies," said John L. Flavin, managing director of Flavin Ventures.

As Molecular Formulations' chief executive officer, Dr. Ayd brings extensive scientific and business experience in the pharmaceutical industry. She previously served as chief operating officer at Advanced Life Sciences, a biopharmaceutical company, also in Woodridge, Ill., and was director of research & development at Apotex Corporation. She received her doctorate degree in biopharmaceutical sciences from the University of Illinois at Chicago and an MBA from Lewis University.

"We are delighted to have Sharon Ayd spearhead the efforts at Molecular Formulations. Her knowledge of formulation science and operating experience will be instrumental in positioning Molecular Formulations for success," added Flavin.

Flavin Ventures, LLC, ( http://www.flavinventures.com/ ) is an early stage venture capital and management group for innovative midwestern life sciences companies focused on drug discovery. In addition to Molecular Formulations, Flavin Ventures currently has investments in two biopharmaceutical companies, Sarawak MediChem Pharmaceuticals ( http://www.sarawak-medichem.com/ ) and Advanced Life Sciences, Inc. ( http://www.advancedlifesciences.com/ ) and in a structural proteomics company, Shamrock Structures, LLC ( http://www.shamrockstructures.com/ ).

Flavin Ventures, LLC

CONTACT: Media, Gail Cowan, +1-312-729-4149, or Katie Alexander,+1-312-729-4402, or Investor, Sharon Ayd, +1-630-972-0514, all for FlavinVentures, LLC


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