PETACH TIKVA, Israel – June 13, 2012 – Macrocure (www.macrocure.com), a biotechnology company specializing in cell therapy for hard-to-heal wounds, announced today it has appointed industry veteran Nissim Mashiach as the Company's new President and Chief Executive Officer.
Mashiach brings 25 years of pharmaceutical experience to the position, having most recently served as General Manager at Ethicon, a Johnson & Johnson company, for three years.
He previously served as President and COO at Omrix Biopharmaceuticals, a company acquired by Johnson & Johnson for $438 million in 2008. At Omrix, he led the planning and implementation of the company's bio-surgery and immunotherapy product commercialization efforts, driving the successful launch of numerous products into important worldwide markets. He was also instrumental in the Company’s IPO and subsequent sale to Johnson & Johnson.
Prior to Omrix, Mashiach served as an executive at several cutting-edge pharmaceutical companies.
“Nissim joins Macrocure at a time when the company is focused on our goal of achieving clinical approval for CureXcell®, which will clear the path to commercial development in numerous markets around the world," said David Ben-Ami, Macrocure Chairman of the Board. “His multi-disciplined background, impressive track record and strong execution capabilities will serve Macrocure well as we move ahead with our clinical and commercialization plans. We are honored to have someone with his experience join our team as President and CEO.”
Macrocure is currently conducting a multi center Phase III study in North America and Israel under an SPA (special Protocol Assessment) for lower extremity chronic ulcers in adults with diabetes. To date, approximately 5,000 patients with various types and severities of hard-to-heal wounds have been treated in Israel with CureXcell®, which has been approved for reimbursement by the Israeli Ministry of Health.
“Macrocure is a true pioneer in wound healing, providing a systematic approach in treating hard to heal wounds in diabetic patients, a multi-billion dollar annual market,” said Mashiach. “If our clinical studies are successful, we will be well-positioned as the only company capable of successfully treating all hard-to-heal wounds.”
Macrocure is a biotechnology company which focuses on the development and commercialization of advanced wound care therapies. The company's lead product, CureXcell®, is a novel approach to treating hard-to-heal wounds by replenishing the imbalanced inflammatory environment in non-healing wounds with a broad array of functionally-active allogeneic immune cells. These cells release the necessary cytokines and growth factors for the wound to heal. Approximately 5,000 patients with various types and severities of hard-to-heal wounds have been treated in Israel and CureXcell has been approved for reimbursement by the Israeli Ministry of Health. Macrocure is pursuing regulatory market approval in North America, Europe and Israel. For more information, please visit www.macrocure.com.
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