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Circassia Limited Appoints Paul R Edick to Its Board of Directors
10/17/2013 10:01:07 AM
OXFORD, UK – 17 October 2013 – Circassia Ltd, a specialty biopharmaceutical company focused on developing world-class immunotherapies, today announced the appointment of Paul R Edick to its Board. Mr Edick is currently CEO of Durata Therapeutics Inc, and brings to Circassia significant commercial experience having held a number of senior international roles in the pharmaceutical industry.
“I am delighted to welcome Paul at this transformative time for Circassia, as the company prepares for the commercialisation of its first product,” said Dr Francesco Granata, Circassia’s Chairman. “With Circassia’s cat allergy treatment progressing through phase III testing, after achieving truly unprecedented clinical results to date, Paul’s experience will be invaluable as the company builds the commercial capabilities to launch this potentially revolutionary new therapy.”
Commenting on his appointment, Paul R Edick said, “This is an exciting time for Circassia as the company completes the development of its first product. Circassia’s ToleroMune® technology marks a step change in allergy therapy, and I look forward to contributing to the company’s preparations to bring this ground-breaking treatment to market.”
Paul Edick has extensive commercial experience of the life-sciences industry. He is currently Chief Executive Officer of Durata Therapeutics, prior to which he was CEO of Ganic Pharmaceuticals. Previously, he was Chief Executive at MedPointe Healthcare, following a period as President of the company. He also held a number of senior positions at GD Searle, and at Pharmacia Corporation following its acquisition of the company, culminating in his appointment as Pharmacia’s Group Vice President and President, Asia Pacific / Latin America. He currently sits on the Board of NewLink Genetics, and was previously Chairman of the Danish biotechnology company, Life Cycle Pharma.
About Circassia’s ToleroMune® technology
Circassia is developing a range of allergy treatments based on its novel, proprietary ToleroMune® technology. This uses rationally-designed molecules identified from common allergens (Synthetic Peptide Immuno-Regulatory Epitopes; SPIREs) to generate regulatory T cells to control allergic responses and induce immune tolerance. Circassia has successfully completed a number of phase II studies with its house dust mite, ragweed and grass allergy therapies, and its cat allergy treatment entered phase III testing in October 2012.
Clinical results show that short, simple courses of SPIRE allergy treatments can greatly reduce patients’ allergic responses and improve symptoms over long periods, while proving extremely well tolerated. As a result, SPIRE treatments offer major potential clinical benefits compared with existing therapies, and have significant market opportunities. More than 150 million people suffer from allergic rhinitis in the US and Europe, and the current treatment market is valued at approximately $12 billion per year.
Circassia was founded by a team of highly experienced biotechnology scientists and entrepreneurs. The company is based in the UK on the Oxford Science Park, and its joint venture with McMaster University (Adiga Life Sciences Inc) is located in Hamilton, Canada. Circassia’s ToleroMune® technology was developed originally by scientists at Imperial College, London. Having successfully completed five fundraising rounds, Circassia has raised approximately £105 million ($178 million) and is backed by a syndicate of world-class institutional investors, including Imperial Innovations and Invesco Perpetual.
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