CHAPEL HILL, N.C., Jan. 8 Cempra Pharmaceuticals Inc. today announced the appointment of Donald C. Olsen as executive vice president of business development. Mr. Olsen will oversee the business development and partnering activities for the company's two clinical-stage anti-infective programs, CEM-101 and Taksta(TM) (CEM-102) as well as the company's preclinical Inflammation and gastrointestinal programs that have emerged from Cempra's macrolide library.
Olsen is a seasoned pharmaceutical executive with over 30 years of experience in the industry during which time he has held positions of increasing responsibility in sales, marketing, and strategic marketing in South Africa, Europe and the United States. Most recently, he has spent 14 years with the Johnson & Johnson Pharmaceutical Licensing Group where he was responsible for leading and negotiating numerous research and development agreements as well as product licensing, co-promotion and asset sale transactions. He has worked in several therapeutic areas including anti-infectives, CNS, dermatology women's health and oncology. Olsen is a graduate in Public Health from Cape College, South Africa.
"Finding suitable pharmaceutical partners for our clinical and pre-clinical programs is a core aspect of our business strategy," said Prabhavathi Fernandes, Ph.D., chief executive officer of Cempra Pharmaceuticals. "We are looking to couple our discovery and early clinical development expertise with the resources and skills in late-stage clinical development and marketing of a pharmaceutical partner. Bringing Don into Cempra will help us achieve that goal."
Mr. Olsen added, "Cempra has a number of exciting pharmaceutical assets, and its two late-stage clinical compounds, Taksta(TM) and CEM-101 should be very attractive to prospective pharmaceutical partners and address a real medical need in the market. Our oral antibiotics, Taksta(TM) and CEM-101, specifically target drug resistant pathogens which are responsible for billions of dollars in healthcare costs as well as high patient morbidity and mortality. I am excited to be part of the team at Cempra and to work to bring these two important antibiotic candidates to patients through collaborations with future pharmaceutical partners."
About Cempra Pharmaceuticals
Founded in 2006, Cempra Pharmaceuticals is a privately-held, clinical-stage pharmaceutical company focused on developing antibacterials to address critical medical needs. Two lead products, both in late-stage clinical trials, address the urgent and increasing need for new treatments targeting drug-resistant bacterial infections in the hospital and in the community. Cempra is well-funded and is committed to developing commercially and medically differentiated and novel products that reduce development risk and provide a high financial return. The company is also utilizing its proprietary compound library and chemistry technology to develop novel macrolides without antibacterial activity for non-antibiotic uses such as COPD, chronic inflammatory and GI disorders. Additional information about Cempra can be found at www.cempra.com.
Media Contacts: Robert E. Flamm, Ph.D. Russo Partners, LLC (212) 845-4226 [email protected]
Tony Russo, Ph.D. Russo Partners, LLC (212) 845-4251 [email protected]
SOURCE Cempra Pharmaceuticals Inc.