August 5, 2008
Pervasis Therapeutics Appoints Frank Litvack, M.D., Former CEO of Conor Medsystems, to Its Board of Directors
Pervasis Therapeutics, Inc., a biotechnology company pioneering regenerative biologically active therapies and devices to treat serious illnesses, today announced the appointment of Frank Litvack, M.D., Professor, David Geffen School of Medicine, University of California, Los Angeles, and former chairman and chief executive officer of Conor Medsystems, to its Board of Directors.
"We are very pleased to welcome Dr. Litvack to our Board of Directors," said Stephen Bollinger, president and chief operating officer of Pervasis Therapeutics. "Frank brings extensive experience effectuating business development deals in emerging biotechnology companies, as well as strong leadership in the internal medicine and cardiovascular fields. His impressive entrepreneurial spirit, most recently proven through his leadership at Conor Medsystems during its acquisition by Johnson & Johnson, will be a tremendous asset to Pervasis as the Company continues to execute its business strategy."
"I am thrilled to join the Pervasis Board and look forward to working with the world-class team that Pervasis has assembled on its Board of Directors and Scientific Advisory Board," commented Dr. Litvack. "Pervasis is conducting groundbreaking research and clinical trials advancing the science of vascular regenerative medicine. The Company's lead product candidate, Vascugel(R), has enormous potential to revolutionize the treatment of vascular injury, and I look forward to being a part of this important mission."
Dr. Litvack is an accomplished veteran of the healthcare industry having orchestrated the founding, development or sale of several medical technology companies including Progressive Angioplasty Systems, Savacor, and most recently the $1.4 billion acquisition of Conor Medsystems by Johnson & Johnson. Currently, Dr. Litvack is board certified in three specialties: internal medicine, cardiovascular diseases and interventional cardiology. He received his undergraduate and medical degrees at McGill University where he completed his residency in internal medicine. Dr. Litvack completed his cardiovascular fellowship at Cedars-Sinai in Los Angeles in 1985, and went on to serve as co-director at the Cardiovascular Intervention Center at Cedars-Sinai Medical Center in Los Angeles from 1986 to 2000. During his academic medical career, he authored and published more than 100 research articles focusing on translational research involving novel therapies for patients with coronary artery and valvular heart disease. Dr. Litvack is an inductee in the NASA Space Technology Hall of Fame for his work translating laser technology from the Jet Propulsion Laboratories into the clinic. Dr. Litvack currently maintains a small consultative medical practice in Los Angeles and remains active as an investor and entrepreneur.
Vascugel(R) is a novel and unique allogeneic cell therapy product under investigation for enhancing repair, extending patency and vascular health. Vascugel(R) builds on concepts of tissue engineering to enable implantation of allogeneic endothelial cells in a controlled state. When wrapped around an injured blood vessel, Vascugel(R) endothelial cells provide growth regulatory compounds to the underlying blood vessel, which may promote a natural healing process and prevent excessive scar tissue formation, inflammation and thrombosis. Vascugel(R) has been studied in two Phase 2 clinical trials in patients with End Stage Renal Disease with data expected before the end of 2008.
About Pervasis Therapeutics, Inc.
Pervasis Therapeutics, Inc. is a clinical-stage regenerative medicine company developing biologically active therapeutics to address complex diseases and unmet medical needs. The Company has developed a proprietary allogeneic endothelial cell technology to regulate vascular repair and restore natural blood flow to critical organs. Pervasis' lead product candidate, Vascugel(R), has been studied in two Phase 2 clinical trials in patients with end-stage renal disease (ESRD). Data from these trials are expected before the end of 2008. Vascugel(R) is a cell-based therapeutic matrix developed to reestablish healthy vasculature after vascular injury and promotes natural healing. Pervasis is also exploring broader indications in non-vascular applications, including inflammation, organ transplantation, nerve, wound and bone repair, and oncology. For more information, please visit www.pervasistx.com.