FORT WORTH, Texas, Jan. 14 /PRNewswire/ -- H. Paul Dorman, Chairman and CEO of DFB Pharmaceuticals, has officially announced hiring Magnus Precht as president of its newest acquisition -- Ithaca, New York-based Phyton Inc., a privately held specialized pharmaceutical company and world leader in the use of plant cell fermentation (PCF) technology that produces, among others, a commercial source of paclitaxel, the active ingredient in one of the leading drugs for ovarian and breast cancer.
Headquartered in Fort Worth, Texas, DFB is a privately held corporation that provides technology-driven pharmaceutical products, outsourcing services, and licensing opportunities to the healthcare industry worldwide through its branded marketing affiliate organizations and contract partners.
Mr. Precht will lead Phyton's continuing PCF efforts through its operations in Ithaca, New York, and Ahrensburg, Germany, to produce high-value medicines without the need for plant harvesting; elaborate chemical synthesis; or utilization of mammalian, yeast, or microbial cell organisms.
"Mr. Precht will be heading up the organization and its technology, leading the way for DFB and its affiliates to meet increasing worldwide demand for unique, effective patient treatments," said Mr. Dorman. "He will play a major role in expanding our manufacturing service offerings, broadening our drug development capability, and bolstering our market strength."
Magnus Precht has a vast background in the biotech industry. Past positions include president of Dimeriq L.P.; chief executive officer of Gene Regulation Laboratories; senior vice president of marketing and sales for Sensus Drug Development Corporation, now owned by Pfizer; and executive vice president of marketing and sales for Interferon Sciences, Inc. He was formerly vice president and general manager of Pharmica in Columbus, Ohio, now owned by Pfizer, where he launched Pharmacia's growth hormone, Genotropin.
Mr. Precht received a Civilekonom from the University of Uppsala in Sweden. In a 1992, he wrote an Orphan Drug Grant Application for an insulin- like growth factor that achieved outstanding Federal Drug Administration (FDA) scoring and a $390,000 award, one of only four of its kind awarded that year.
Mr. Precht will oversee a staff of 41 in New York and 34 in Germany.
Other DFB affiliates include HEALTHPOINT, Ltd., a branded marketing organization and DPT Laboratories, Ltd., an outsourcing service organization to the pharmaceutical industry. Visit http://www.dfb.com/ .