PolyMedix Appoints Vice President of Clinical Development
Posted on: Wednesday, 8 November 2006, 09:01 CST
PolyMedix, Inc. (OTC BB: PYMX) announced today that it has appointed Dr. R. Eric McAllister as Vice President, Clinical Development and Chief Medical Officer.
R. Eric McAllister, M.D., Ph.D. has joined PolyMedix as Vice President of Clinical Development and Chief Medical Officer. Dr. McAllister has over 25 years of experience developing a number of important drugs in a variety of therapeutic areas. He comes to PolyMedix from CombinatoRx Inc., where he was Senior Vice President of Clinical Development. In a career spanning over 20 years Dr. McAllister has previously been with Sicor Pharmaceuticals, TAP Pharmaceuticals, Cholestech Inc., Bristol-Myers Squibb, G.D. Searle, and Syntex Pharmaceuticals. Dr. McAllister also spent seven years as a clinical investigator with MedStudies. He earned his M.D. from Dalhousie University in Canada, and D. Phil. (Ph.D.) degree from Oxford University, and was also a Rhodes Scholar. Dr. McAllister has worked on the development of such major pharmaceutical products as Lupron, Pravachol, Capoten, Kerlone, Cardene, Calan, Avandia, Actos, Teveten, and Atacand. Dr. McAllister will be leading all of PolyMedix's clinical drug development efforts.
"PolyMedix is very fortunate to have such an outstanding and experienced drug development executive join us to lead our clinical development efforts. We hope to advance a number of compounds into clinical development in coming years. We all look forward to working with Eric as he leads these clinical development activities," commented Nick Landekic, President and C.E.O. of PolyMedix.
About PolyMedix, Inc.
PolyMedix is a publicly traded biotechnology company focused on the development of novel drugs and biomaterials for the treatment of infectious diseases and acute cardiovascular disorders. PolyMedix's compounds are based on biomimetics: non-peptide small molecule drugs that mimic the activity of proteins. The Company's antibiotic compounds -- small molecule mimetics of human host-defense proteins - are believed to have a completely different mechanism of action from all current antibiotic drugs, a mechanism which is intended to make bacterial resistance unlikely to develop. These compounds are being developed as broad-spectrum, rapid-acting antibiotics for serious systemic and local infections. The Company is also developing polymeric formulations as antimicrobial biomaterials, which can be used as additives to paints, plastics, and textiles to create self-sterilizing products and surfaces. The Company's anticoagulant antagonist compounds reverse the activity of both heparin and low molecular weight heparins, in keeping with our goal of developing an antagonist drug that is safer and easier to use than current approved therapy. PolyMedix plans to file two INDs and start human clinical trials for its first antibiotic drug and its anticoagulant antagonist in 2007. For more information, please visit PolyMedix on its website at www.polymedix.com.
This press release contains forward-looking statements that involve risks and that could cause PolyMedix's actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. PolyMedix has tried, wherever possible, to identify these forward-looking statements by using words such as "anticipates,""believes,""hopes,""estimates,""looks,""expects,""plans,""intends" and similar expressions. Among other things, there can be no assurance that PolyMedix's compounds will enter or successfully complete clinical testing or be granted regulatory approval to be sold and marketed in the Unites States or elsewhere. A more complete description of these risks, uncertainties and assumptions is included in PolyMedix's filings with the Securities and Exchange Commission, including those described under the heading "Risk Factors" in the Registration Statement on Form 10-SB originally filed by PolyMedix with the Securities and Exchange Commission on April 5, 2006. You should not place undue reliance on any forward-looking statements. PolyMedix undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
Source: Business Wire
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