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"I am delighted to have Peter Corr join me in this exciting and importantendeavor," said Stephen Evans-Freke, co-founder of Celtic Pharma and nowco-founder of Celtic Therapeutics with Dr. Corr. "Over the last three yearswe have demonstrated that the Celtic Pharma investment and virtual drugdevelopment model can fill a major funding gap in the global biotechnologyindustry. There is no-one better qualified than Peter to join me in buildingon the Celtic Pharma model to establish one of the largest portfolios oflate-stage drug development programs in the industry. Peter is one of themost respected R & D executives in the global pharma industry today, and ourentire team looks forward to working with him."
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"Pharmaceutical companies are facing unprecedented challenges to theirdiscovery and development pipelines and ultimately to their bottom lines",said Dr. Corr. "The heavy fixed cost base and lack of flexibility of theirR&D organizations make quick and focused decision-making very difficult. Theinnovative and timely Celtic model is designed to address these challenges.Celtic Therapeutics has assembled a first-class team of biomedical andfinancial industry leaders to bridge the gap between academia, biotechnologycompanies and the pharmaceutical industry. I am very pleased to be a part ofthis important project, which will help to bring a new range of therapies topatients."
Dr. Corr recently retired from Pfizer Inc, where he was Senior VicePresident, Science and Technology, from 2002 to 2006, with responsibility foraligning Pfizer's worldwide research and development organization withlicensing activities, science and medical advocacy, global medical relationsand science policy. He previously headed Worldwide Research and Development,and prior to that served as Executive Vice President, Pfizer Global Researchand Development, and as President, Worldwide Development. Prior to joiningPfizer, he served as President of Pharmaceutical Research and Development atWarner Lambert/Parke Davis until the merger with Pfizer in 2000, and servedas Senior Vice President, Discovery Research, at Monsanto/Searle. He came tothe private sector after spending 18 years as a researcher in molecularbiology and pharmacology at Washington University in St. Louis, where he wasa professor in the Departments of Medicine (Cardiology) and Pharmacology andMolecular Biology. Dr. Corr also serves on a number of for-profit andnot-for-profit boards and councils.
In addition to his role at Celtic Therapeutics, Mr. Evans-Freke is theCo-Managing General Partner of Celtic Pharma, the predecessor private equityfirm to Celtic Therapeutics. Both Mr. Evans-Freke and his co-founder inCeltic Pharma, John Mayo, will continue to serve as the Managing GeneralPartners of Celtic Pharma's first fund, Celtic Pharmaceutical Holdings L.P.,until its product development programs have been completed and sold and thepartnership's affairs have been successfully concluded.
With more than 25 years of experie
