PINE BROOK, N.J., Oct. 19 /PRNewswire/ -- Elusys Therapeutics, a privately-held biopharmaceutical company focused on the development of targeted anti-infective therapeutics today announced that company President, Elizabeth Posillico, Ph.D., has assumed the responsibilities of Chief Executive Officer and Director. In January 2005, Dr. Posillico was promoted to President. She was previously Sr. Vice President of Operations for the Company.
Today Elusys also announced the appointments of two infectious disease experts, David S. Perlin, Ph.D. and Stephen M. Smith, M.D., to the company's Scientific Advisory Board.
"This is an exciting time to lead Elusys," said Dr. Elizabeth Posillico. "Anthim, a highly effective intramuscular treatment for Anthrax infection, represents a significant near-term revenue opportunity for the Company. A Phase I human clinical trial is underway and we will have data to report in early 2006."
William R. Miller, Chairman of the Board of Elusys and former Vice Chairman of Bristol-Myers Squibb commented, "Dr. Posillico has provided proven leadership to Elusys over the last several years and has been instrumental in overseeing the development of Anthim. Dr. Posillico's appointment to the board and additional responsibilities as CEO provides us the opportunity to take the Company to its next stage of development. We will need her leadership as we gear up for the potential purchase of Anthim by the U.S. Government under Project BioShield and to further advance follow-on Heteropolymer Antibody products in our infectious disease pipeline."
Dr. Posillico added, "Our Heteropolymer Antibody Technology (HP) has demonstrated a unique ability to clear and destroy pathogens. This proprietary technology provides Elusys with a platform to develop a pipeline of novel drug candidates targeted against bacterial, viral and fungal infections. We intend to forge collaborations with strategic partners to develop and commercialize product candidates derived from this technology."
"Our next clinical candidate, ETI-211, is a Heteropolymer drug for the treatment of antibiotic resistant Staphylococcus aureus infections. Preclinical studies have also begun on two additional infectious disease targets. The additions of Dr. Perlin and Dr. Smith to our Scientific Advisory Board will provide us with additional guidance as we forge ahead with our infectious disease pipeline."
About David S. Perlin, Ph.D.
Dr. Perlin was recently appointed to President of the Public Health Research Institute (PHRI). Prior to this appointment, Dr. Perlin had been Scientific Director at PHRI for thirteen years. He was appointed professor of microbiology and Molecular Genetics at New Jersey Medical School - UMDJN in 2003. Dr. Perlin is an expert in drug-resistant fungal infections and the rapid diagnosis of opportunistic pathogens in high risk patients.
Dr. Perlin is a member of the New York Academy of Sciences Emerging Infectious Disease Discussion Group and a member of the Executive Committee of the Northeast Biodefense Center. He is also a member of Senator Jon Corzine's New Jersey Healthcare Taskforce and a member of the Board of Directors of the Aaron Diamond AIDS Research Center. In 2001 he was a special consultant to the US Senate Finance Committee's investigation of the October anthrax outbreak. More recently Dr. Perlin worked closely with the Chinese Government to address SARS, TB and other emerging infectious diseases in China.
About Stephen M. Smith, M.D.
Dr. Smith is Chief of Infectious Diseases at St. Michael's Medical Center in New Jersey. In 1998, Dr. Smith established his virology laboratory at Saint Michael's and has since published more that 15 papers related to HIV vaccine development, treatment, pathogenesis and sexual transmission. Dr. Smith is also Medical Director of the Peter Ho Memorial Clinic at Saint Michael's, the largest HIV clinic in New Jersey. Dr. Smith is also Program Director of the Infectious Diseases Fellowship Program at Seton Hall School of Graduate Medical Education.
About Dr. Posillico
Prior to joining Elusys, Dr. Posillico held executive positions at several biopharmaceutical companies including: Genzyme, Physiome Sciences, Apoptogen and Damon Biotech. Dr. Posillico also served on the management committee of the Canadian Medical Discovery Fund, providing insight and recommendations for funding early-stage Canadian biotech firms. She holds a Ph.D. in endocrinology from Duke University, where she also did post-doctoral work in physiology.
Upcoming Venture Investor Conferences
Elusys will be attending and presenting at the following venture investor conferences in 2005:
* BIO Investor Forum - October 20, at 2:00 PM at the Palace Hotel in San Francisco, CA * 7th Annual Rodman & Renshaw Techvest - November 7, at 8:00 AM at the Palace Hotel in New York City
Elusys is currently raising approximately $15 million in additional venture capital funds in the U.S. from new investors and existing shareholders. Elusys was recently awarded $4.4M from the National Institute of Allergy and Infectious Diseases (NIAID) and $1M from the Department of Defense for advanced development of its Anthrax therapeutic, Anthim. To date, the Company has been awarded $20M from the U.S. Government for the development of novel therapeutics to combat bioterror agents.
About Elusys
Elusys is a privately-held biopharmaceutical company focused on the development of targeted anti-infective therapeutics using its proprietary Heteropolymer Antibodies (HP) for the treatment of infectious disease. Current venture investors include Essex Woodlands Health Ventures LLC, Invesco Private Capital, Crescendo Ventures, EagleAdvisors, and the Legg Mason Emerald Fund. For more information on Elusys please visit http://www.elusys.com. For more information on Elusys' Heteropolymer (HP) Technology please visit http://www.elusys.com/technology_hp_animation.php.
Elusys TherapeuticsCONTACT: Bryan Murphy of LaVoie Group, +1-781-596-0200 ext.105,bmurphy@lavoiegroup.com, for Elusys Therapeutics
