ESBATech Announces Appointment Of James Egan As Chief Business Officer

ZURICH, Switzerland and BOSTON, May 15 /PRNewswire/ -- ESBATech AG, a developer of antibody-fragment therapeutics, today announced the appointment of James J. Egan to the position of Chief Business Officer.

Jamie has more than 25 years of experience in legal, mergers and acquisitions and business development in the pharmaceutical industry. He has participated in the negotiation of more than 25 major agreements with a multi-billion dollar aggregate commercial value. At ESBATech, Jamie will be responsible for directing the company's strategic development and planning, including licensing agreements, joint ventures, strategic alliances and acquisitions.

Dominik Escher Ph.D., Chief Executive Officer of ESBATech, commented, "We are delighted to welcome Jamie to ESBATech's senior management team. Jamie's track record of transformational deals between biotechnology start-ups and global pharmaceutical industry leaders will help to ensure that the Company converts its pipeline with best-in-class antibody-fragment technology, into one of commercial value with strategic partners."

James Egan, ESBATech's new Chief Business Officer commented, "I am thrilled to join ESBATech's senior management team. The quality, power, speed and flexibility of the Company's core technology platform and its research capabilities are very impressive. ESBATech's ability to go discover and advance 'drug-like' antibody-fragments is only now being recognized for its leading position in the antibody-based therapeutics field. I look forward to working with Dr. Escher and ESBATech's management team to plan and execute strategies that will optimize the value of its emerging pipeline, while helping to lay the foundation for the eventual transition to a fully integrated biopharmaceutical company."

Prior to joining ESBATech, Jamie served as the Senior Vice President of Corporate Development and Licensing at Idenix Pharmaceuticals, Inc. His responsibilities included evaluation and pursuit of mergers and acquisitions, strategic alliances as well as licensing and acquisition opportunities. At Idenix, Jamie planned and executed two transformational transactions -- starting with a regional partnering agreement for Asia with Sumitomo in 2001. This transaction led to a Series C financing and a Global Strategic Alliance with Novartis AG that facilitated Idenix's IPO and product pipeline development.

Before joining Idenix, Jamie served as the CEO of NeuronZ, a start-up company with lead candidates in neuro-degeneration, Senior Director BD&L G.D. Searle & Co., and as International Counsel at Abbott Laboratories. Jamie also served as a trial attorney in the United States Department of Justice, Antitrust Division, and as an Economic Officer at the American Embassy in Tokyo, Japan in the United States Department of State Foreign Service. He holds a Bachelor's Degree in Foreign Service from Georgetown University and a Juris Doctor Degree from the University of Santa Clara.

About ESBATech AG

Privately-held ESBATech AG is a Zurich, Switzerland based drug discovery and development company focused on advancing antibody-fragment therapeutics for inflammatory applications. Current venture investors include Novartis Venture Fund, BioMedinvest, VI Partners, BSI, Credit Suisse and private investors. The Company is currently raising additional venture financing in the US and Europe. For more information about ESBATech, please visit


CONTACT: US: Donna L. LaVoie, President and CEO of LaVoie Group, forESBATech AG, +1-781-596-0200, ext. 103; or Europe: Dr. Oliver Middendorp,Manager BD&L of ESBATech AG, +41-44-733 49 01

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