LEXINGTON, Mass.--(BUSINESS WIRE)--April 28, 2004--TransForm Pharmaceuticals, Inc. today announced that Paul D. Goldenheim, M.D., has been named President and will become a member of the Board of Directors of TransForm. He will assume his responsibilities in early May. Dr. Goldenheim is currently Executive Vice President, Worldwide Research and Development, and Chief Scientific Officer of Purdue Pharma LP, a private pharmaceutical company.
TransForm's Chairman of the Board and Founder, Nick Galakatos, Ph.D., General Partner at MPM Capital, said, "Paul, whom I have known for the better part of a decade, brings tremendous experience in product development. His leadership skills together with domain expertise and experience are a great fit with TransForm. The timing of this event is especially important, since we are initiating our first clinical trial and transitioning our company from its platform technology into its product development phase."
"The first step toward achieving TransForm's goal of becoming a fully integrated specialty pharmaceutical company is building a product pipeline," said Dr. Goldenheim. "With TransForm's continuously evolving breakthrough form and formulation technologies, I am confident that we will expand on the early pipeline and generate products that have significant clinical and commercial advantages over existing pharmaceuticals. TransForm's first clinical trial is a major milestone toward our goal of commercializing our own products. At the same time, we will continue to innovate and expand our technology base which is the leading form and formulation platform in the industry.
"TransForm offers me an opportunity that I simply couldn't pass up -- the chance to lead an exciting pharmaceutical enterprise and apply my 19+ years of industry experience," Dr. Goldenheim added.
Simultaneously, Norman Selby, who has served as TransForm's CEO, for the last three years, is stepping down but will remain on the Board in an important strategic role. "Norman has played a critical role in the evolution of TransForm. He successfully led the company through the early stages of its growth and focused our breakthrough technology on working closely with pharmaceutical partners on their compounds, and on generating an exciting pipeline of product candidates for ourselves. We look forward to continued progress on both dimensions," continued Dr. Galakatos.
About the Company
TransForm Pharmaceuticals is reinventing the pharmaceutical industry's approach to form and formulation, with physical chemistry and novel high-throughput platform technologies, powered by state-of-the-art informatics and a scientific and managerial team with deep experience in pharmaceuticals. It uses these capabilities to optimize drug form and/or formulations, and increase the clinical and commercial value of pharmaceutical products, across the entire spectrum of pharmaceutical development from early stage to lifecycle management. In research and development, TransForm is working with partners such as Alza Corporation and Lilly to help them make better candidate selection decisions and reduce attrition and development time and cost. For later stage and marketed products, TransForm is working with partners such as Johnson & Johnson to enhance the lifecycle management of their products by rapidly discovering novel forms and/or formulations that improve bioavailability, broaden intellectual property protection and enable new indications. TransForm is a privately held emerging specialty pharmaceutical company. More information on TransForm can be found at: www.transformpharma.com.
Barbara Carter, 781-674-7834