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Immusol, Inc. Changes Name to ItherX, Names New CEO


12/17/2007 7:19:25 AM

SAN DIEGO--(BUSINESS WIRE)--Immusol Inc, a privately held biopharmaceutical company, today announced that it has changed its name to ItherX Pharmaceuticals Inc. and has appointed Jeffrey F. McKelvy as President, Chief Executive Officer and Director.

“To accompany this transformation, we are bringing on board an experienced pharmaceutical executive to lead the company. Our name change also reflects our mission to bring innovative therapeutic products to the marketplace,” said Tsvi Goldenberg, founding CEO of Immusol, who will remain as Chairman. McKelvy joins from Avera Pharmaceuticals, a privately held specialty pharmaceutical company, where he had been founding CEO, and then President and Chief Technical Officer. He brings to ItherX a 20-year career of senior executive experience in both start-up and global pharmaceutical companies. Previous assignments included Vice President and San Diego Site Head, Merck Research Laboratories; Executive Vice President, Chief Scientific Officer and Director, SIBIA, a publicly held biopharmaceutical company; Senior Vice President, CNS Strategic Business Unit, Ciba Geigy; founding CEO Trophix Pharmaceuticals, a privately held biopharmaceutical company; and Venture Head, Abbott Laboratories. In the course of these assignments, McKelvy led the registration of several marketed products, including Gabitril®, Serlect® and Tegretol Oros®.

“ItherX has an exceptionally strong scientific foundation for product development due to the leadership of Flossie Wong-Staal, a world class scientist who co-founded Immusol. Jeff McKelvy brings an outstanding record of achievement in the pharmaceutical industry, and his strong background in drug development will enable the Company to move its assets rapidly to the achievement of significant milestones,” said Frank Litvack, a founder and Director of Immusol, who remains a Director of ItherX. Dr. Wong-Staal remains as Executive Vice President, Director and Chief Scientific Officer for ItherX. Added Dr. Jeffrey McKelvy, “The Company’s pipeline is now focused on two major programs, oncology and virology, with the potential to deliver first-in-class agents for the treatment of solid tumors and hepatitis C respectively. Moreover, the Company has the capability to move these compounds to the Proof-of-Concept stage in clinical studies, and to create significant value in doing so.”

ItherX Pharmaceuticals Inc. (San Diego, CA) is a private, pharmaceutical company focused on the discovery, development and commercialization of innovative products for the oncology and antiviral marketplaces. Additional information on the Company can be found at www.itherx.com.

MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5568717

Contact: ItherX Pharmaceuticals Inc. Zhu Shen, 858-824-1100

Source: ItherX Pharmaceuticals Inc.



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