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Oriel Therapeutics Inc. Appoints Richard Fuller as Chief Executive Officer


9/23/2008 6:24:14 AM

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Oriel Therapeutics announced that effective immediately Richard (Rick) Fuller, M.D., a former senior executive at GlaxoSmithKline, has joined Oriel as Chief Executive Officer. Dr. Fuller brings 30 years of experience in the healthcare field. During his career he headed development programs leading to the approval and launch of important respiratory care products, including Serevent® and Advair®.

James Niedel, M.D., Ph.D., Executive Chairman of Oriel and Managing Director at New Leaf Venture Partners, said, “We are fortunate to attract someone of Rick’s background and stature to Oriel. His extensive knowledge of respiratory markets and product development will be critical as we prepare to begin clinical trials next year.”

In his new position, Dr. Fuller will work closely with Oriel Co-Founder, President and COO Paul J. Atkins, Ph.D. Dr. Niedel commented, “Paul has been the driving force behind Oriel. In the past year alone, he has been responsible for raising more than $26 million in funding, expanding the Company’s IP portfolio in respiratory delivery technologies and advancing the Oriel dry powder inhaler into IND-enabling studies. I know that Rick and Paul will make an excellent team.”

Dr. Fuller stated, “I am extremely enthusiastic about taking the helm at Oriel, and look forward to rejoining former colleagues, such as Paul Atkins, who have brought a depth of experience from their days at Glaxo. My development expertise and strategic view on commercialization will complement the technical prowess already resident at the Company.”

Prior to joining Oriel, Dr. Fuller served in a number of senior positions at Aerovance, most recently as Executive Vice President of Research and Development, where he led the development of a novel protein for the treatment of asthma and eczema. Previously, during a decade-long tenure at Glaxo, Dr. Fuller headed a number of R&D units, mostly in the area of respiratory disease. He was Worldwide Director of International Medical Affairs in Glaxo’s department of Research & Development, where he subsequently attained the position of Vice President for Respiratory and Inflammation Clinical Development and Product Strategy. Dr. Fuller headed development and commercialization programs at Glaxo focused on a number of respiratory care products, including Serevent, Advair, Flovent® and Flonase®. Following Glaxo, Dr. Fuller joined the Wellcome Trust as an executive board member for Science Funding.

Dr. Fuller received his M.D. degree from St. George’s Hospital Medical School. He is a Fellow of the Royal College of Physicians and is clinically accredited in Internal Medicine and Clinical Pharmacology. Prior to joining the private sector, Dr. Fuller pursued a career in clinical and academic medicine, publishing widely on asthma, inflammation and cough.

Oriel’s Product Pipeline

Oriel is developing a range of dry powder inhalers targeting both multidose and unit dose delivery applications. With device design and analytical capabilities in-house, the Company has the ability to combine target formulations with suitable delivery technology to develop improved and approvable drug products.

Along with its core drug development programs, Oriel continues to expand its technology portfolio through strong fundamental science, a focus on evolving market dynamics, and an eye for collaborative opportunities.

About Oriel Therapeutics

Oriel Therapeutics is a specialty pharmaceutical company developing and commercializing products to improve respiratory care. Combining an experienced product development team and a growing portfolio of innovative drug delivery technologies, Oriel is focused on delivering compelling patient options for the treatment of asthma and COPD. Oriel was founded with funding from Trudell Medical and PPD, and the most recent funding round was led by New Leaf Venture Partners, joined by Thomas, McNerney & Partners, HealthCare Ventures and CHL Medical Partners. For more information visit www.orieltherapeutics.com.

Contact:

Burns McClellan on behalf of Oriel Therapeutics Inc. Justin Jackson, 212-213-0006 jjackson@burnsmc.com

Source: Oriel Therapeutics Inc.

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