CMP Therapeutics Appoints Dr Neill Moray Mackenzie as CEO
CMPT also announces the injection of a EUR1.5million convertible loanfrom Inventages Venture Capital to support continuing operations and theupcoming clinical trial of its lead product for the common cold. CMPT hasbeen supported solely by investments from London-based Inventages VentureCapital and New Zealand-based BioPacificVentures since 2005.
Dr Achim Kaufhold, Chairman of CMPT said "Now is a pivotal time for CMPTas we move into advanced clinical development for our lead product and we aredelighted to welcome Dr Mackenzie as CEO. He combines proven experience indriving the corporate development of spin-outs from the Universities ofCambridge and Oxford with a highly relevant academic background in immunologyand is ideally placed to ensure the rapid realisation of the value of ourground breaking technology."
Dr Mackenzie said: "I am delighted to have been chosen for this role.CMPT is based on unique science from the Medical Research Council'sHistochemistry Unit in the University of Oxford and has opportunities inmajor therapeutic markets such as viral infection, allergy and alsofunctional foods. With a lead compound that has Over-The-Counter (OTC)potential as a treatment for the common cold we hope to be ready for themarket shortly after we have completed clinical trials over the next twoyears".
Dr Bruce Savage, the former CEO, leaves CMPT to concentrate on his otherportfolio companies. The Board would like to thank him for his efforts overthe years in building the Company.
About CMP Therapeutics
CMP Therapeutics, founded in 2004, is a company that develops productsfor colds, flu and allergy based on b 1-3 N-acetyl glucosamine (chitin). b1-3 N-acetyl glucosamine is extracted from natural sources. It is processedinto micro-particles (Chitin Micro-Particles or CMP) under GMP manufacturingconditions. CMP is the active component. When administered intranasally ithas been shown to be safe in man and effective in models of disease,including viral disease and bacterial diseases of the respiratory tract andallergy. CMP Therapeutics has worldwide patents and patent applicationscovering the uses and the manufacture of CMP for allergy, viral and bacterialdisease, and as a vaccine adjuvant.
About Inventages Venture Capital
Inventages Venture Capital is a fund management company specializing inlife sciences, with business offices in London, the Bahamas, Switzerland andNew Zealand. It currently manages five funds, with a total of approximately$1.5 billion under management. The funds were raised to support companies inthe areas of pharmaceutical and biotech development, nutrition and health andwellness with a strong focus on prevention. Portfolio companies areintensively supported and can leverage the depth of business experience andstrong relationships that the Inventages partners have with the globalpharmaceutical, cosmetic, food and biotech industries.
BioPacificVentures is one of the world's largest food, nutrition andagriculturally focused venture capitalists, specializing in the convergenceof food and health with a focus on prevention, nutrition, food technology andagbiotech. BioPacificVentures pursues attractive life science investmentopportunities with an Australasian focus and takes lead or co-investmentpositions in rounds ranging from NZ$2 to NZ$10 million. Strategic andfinancial investors with global reach and industry specific expertise supportBioPacificVentures.
About the Common Cold
The common cold (also known as acute viral rhinitis or acute coryza) isextremely common. The disease affects the upper respiratory tract and ishighly contagious. There are as many as 200 viruses that may be responsiblefor this condition. Symptoms including sore throat, runny nose, nasalcongestion, sneezing, cough, and headache can last from four to fourteendays. Symptoms can be particularly severe in asthmatics, theimmunocompromised (for example those on chemotherapy) and those withpre-existing lung conditions. Colds can exacerbate more serious upper andlower respiratory tract infections, including acute otitis media (glue ear)in children, and are thought to account for about 50% of all hospitalisationsfor acute exacerbations of asthma in children.
The socioeconomic impact of the common cold is significant. One studyshowed that adults and children in the United States experience two to sixcolds per year, accounting for 75 to 100million physician visits annually ata conservative cost of $7.7 billion. Americans spend $2.9 billion onOver-The-Counter (OTC) remedies and another $400 million on prescriptionmedicines for symptomatic relief. Topical decongestants (nasal sprays)account for $1.545 billion in sales globally. An estimated 22 to 189 millionschool days are missed annually because of colds and as a result, parentsmiss 126 million workdays. When combined with an additional 150 millionworkdays missed by employees suffering from a cold, the total economic impactof cold-related work loss in the USA alone exceeds $20 billion.Contact Dr Neill Moray Mackenzie CEO CMP Therapeutics Tel: +44-(0)7770-404929 firstname.lastname@example.org http://www.cmptherapeutics.com Media Enquiries Citigate Dewe Rogerson Chris Gardner / Helena Galilee Tel: +44-(0)207-638-9571 / +44-(0)7903-321032 email@example.com / firstname.lastname@example.org
SOURCE CMP Therapeutics
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