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Mr. Luci was formerly the CFO of Bioenvision, Inc. prior to its successfulmerger transaction with Genzyme Corporation valued at $345 mm, and has over 16years of experience servicing or working in the finance, accounting and legalfunctions within the healthcare industry. Bioenvision's primary focus wasdeveloping compounds for the treatment of cancer. While Mr. Luci was atBioenvision, the company raised over $100 million of capital through equityfinancings, primarily lead by UBS and JP Morgan, and developed andsuccessfully obtained regulatory approval for a compound to treat pediatricacute leukemia in end-stage patients.
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Mr. Luci is also a member of the board of directors, audit committeechairman and compensation committee chairman of Access Pharmaceuticals(OTC Bulletin Board: ACCP.OB) of Dallas, Texas, a biopharmaceutical companyfocused on development of novel therapies for cancer and other indications.Prior to Bioenvision he also served as a senior associate in the corporatedepartment of Paul, Hastings, Janofsky & Walker LLP (New York Office) andsenior auditor at Ernst & Young, LLP (New York Office). In 1991, Mr. Luciearned certification in public accounting.
Mr. Luci stated. "Since joining the company, I have been furtherencouraged by our potential for future success and look forward to working inthis expanded role through the coming stages of growth and opportunity for theCompany."
Bernard Patriacca, MacroChem's Chief Financial Officer, will be retiringas planned following the filing of the company's annual report for the yearended December 31, 2007 which occurred on Monday, March 17, 2008. Mr. RobertDeLuccia, President and CEO of MacroChem, stated, "On behalf of our Board ofDirectors and the Company, we sincerely thank Mr. Patriacca for hissubstantial contributions to our operations over the past seven years andoffer our very best wishes in his retirement. Mr. Patriacca will remain aconsultant to the Company to ensure a smooth transition." He continued, "Weare very pleased to have someone with David's experience and skillcontributing to our ongoing development activities in his expanded capacity."
He added, "Mr. Luci brings a diverse legal, financial, and businessbackground as well as excellent knowledge of the biotech sector, both withpharmaceutical companies and the investment community of our industry. Hisexperience includes capital markets financing, negotiating deals, and licenseagreements (both U.S. and ex-U.S.), corporate partnerships, and mergers andacquisitions. I believe this impressive skill set will serve us well as weseek to capitalize on our recent achievements and advance MacroChem'sinitiatives in the coming year."
Mr. Luci received his JD, cum laude, from Albany Law School of UnionUniversity, and his Bachelor of Science in Business Administration fromBucknell University. He is a member of the New York Bar Association and aCertified Public Accountant (Pennsylvania).
About MacroChem
MacroChem Corporation is a specialty pharmaceutical company that developsand seeks to commercialize pharmaceutical products. Our lead productcandidates are EcoNail(R) and pexiganan. EcoNail is a topically applied SEPA-based econazole lacquer for the treatment of onychomycosis, a conditioncommonly known as nail fungus. We recently acquired exclusive worldwidelicense rights to pexiganan, a novel topical anti-infective for the treatmentof diabetic foot infection, which has already completed two Phase 3 trials.Our other clinical stage product candidate, Opterone(R), is a topic
