NEWARK, NJ--(Marketwire - September 07, 2011) - Edge Therapeutics, Inc. announced today the appointment of Sol J. Barer, Ph.D., to its Board of Directors, effective September 1, 2011. Dr. Barer will also serve as chair of the Compensation Committee. Edge Therapeutics is a biopharmaceutical company developing novel implantable technology for direct delivery of proven therapeutic compounds to the site of brain injury.
Dr. Barer is a founder of Celgene Corporation and spent 18 years leading Celgene as president, COO and CEO, culminating with his tenure as Celgene's executive chairman and chairman before retiring in June 2011. Under his helm, Celgene became the third largest independent biotechnology company in the world and a member of the S&P500 with a current market capitalization exceeding $25 billion.
"We are honored that Dr. Barer is joining our board during this exciting and early stage of our company's development," said Brian A. Leuthner, president and CEO of Edge. "Dr. Barer brings a commanding knowledge of biotechnology as both a scientist and a business leader. His remarkable success in developing life-saving and transformational products for patients in need will be an invaluable asset for Edge Therapeutics."
"I look forward to helping Edge Therapeutics realize its full potential of advancing patient care and developing life-saving therapies for the treatment of brain hemorrhage," said Dr. Barer.
About Edge Therapeutics
Edge Therapeutics is a hospital-focused biopharmaceutical company that uses a novel, site-specific and sustained release-microparticle technology platform to develop products for acute, and fatal or debilitating neurological conditions that currently have no effective therapies. Edge works with some of the world's foremost scientists from leading academic research centers to develop proprietary and novel formulations of known active drugs for direct therapeutic delivery to the site of injury in the brain. The company's patent-protected bioabsorbable microparticle formulations release drugs locally and consistently at therapeutic concentrations in the brain, which maximizes therapeutic activity while avoiding treatment-limiting systemic side effects seen with oral and intravenous delivery. The technology platform is the basis of Edge's pipeline of drugs in therapeutic areas such as spontaneous brain hemorrhage, traumatic brain injury and brain surgery. The lead products, NimoGel and NimoVent, are microparticle formulations of the calcium channel blocker nimodipine. These drugs are being developed to prevent delayed complications after subarachnoid hemorrhage (where today oral- or i.v.-administered nimodipine is employed but in suboptimal concentrations due to the generation of systemic side effects). Phase 2 studies for both NimoGel and NimoVent are planned for 2012.
For more information on Edge Therapeutics, Inc., please visit www.edgetherapeutics.com.