SAN DIEGO, Jan. 7 Sangart, Inc., a privately heldbiopharmaceutical company focused on the research, development andcommercialization of oxygen-therapeutic agents, today announced a companyrestructuring that includes the addition of four key leadership positions anda significant reduction in work force, primarily in the product manufacturingarea. This restructuring reduces the company's burn rate and refocusesSangart's business units on pursuing further clinical trials for its leadproduct, Hemospan(R).
"Sangart remains committed to developing a safe and effectiveoxygen-therapeutic agent," said Brian O'Callaghan, President and ChiefExecutive Officer of Sangart. "Our recent successful Phase III clinicalstudies of Hemospan demonstrated very encouraging efficacy results for theprevention and treatment of hypotension in hip replacement procedures. Thesetrials provide a platform from which to conduct the pivotal clinical studiesthat will be necessary to establish the clinical benefit of treating patientswith Hemospan. The appointment of key executives and the decision to reduceour workforce, which was difficult but necessary, will enable us to focus ourresources on these upcoming clinical trials."
As part of the restructuring, Sangart announced appointments for four newleadership positions:
Sangart, Inc. is a privately held biopharmaceutical company focused onbeing the global scientific, clinical and commercial leader inoxygen-therapeutic agents, providing innovative products to patients in need.Sangart was founded based on technologies developed during more than twodecades of research into the mechanisms of oxygen transport by cell-freehemoglobin solutions at the Letterman Army Institute of Research andUniversity of California at San Diego. The discoveries arising from thisresearch on the effective action of oxygen therapeutics have been patented andpublished in numerous scientific articles and form the basis for Sangart'stechnologies.
Sangart's lead product candidate, Hemospan(R) is an oxygen therapeuticproduct that is created using unique polyethylene glycol conjugation withhuman hemoglobin. Hemospan(R) was specifically designed to the optimalmolecular size, viscosity, oxygen affinity and diffusion potential to targetoxygen delivery to tissues at risk of oxygen deprivation based on experimentswith artificial capillaries and in several different animal models. Extensiveresearch and testing demonstrates that this approach optimizes oxygen deliveryin the microcirculation while minimizing the side effects that plagued earliergeneration products.-- Howard Levy MD, PhD, Chief Scientific Officer -- Dr. Levy will assume overall responsibility for preclinical, clinical research, and research and development for Hemospan. A critical care and pulmonary physician, Dr. Levy brings more than 20 years of experience both serving as a principal investigator at research institutions as well as leading clinical study development teams for pharmaceutical companies. Prior to Sangart, he was responsible for clinical research of the hemostasis platform at Novo Nordisk, Inc. -- Elias Nyberg, DVM, Vice President, Regulatory Affairs and Quality Assurance -- Dr. Nyberg is responsible for all international regulatory communications, as well as overseeing Quality Assurance for the company. Dr. Nyberg brings more than 20 years of experience working with pharmaceutical and biotechnology companies in regulatory affairs. Prior to Sangart, he served as Vice President, Regulatory Affairs at a Boston-based biopharmaceutical company and Senior Director for International Regulatory Affairs at BIOGEN. -- Clive Bertram, Head of European Commercialization -- Mr. Bertram is responsible for the company's European commercial operations and brings to Sangart a wealth of experience ranging from marketing and sales for larger pharmaceutical companies to advising small biotech companies on overall branding and commercialization. Prior to Sangart, he was Senior Director of International Marketing for Pharmion Ltd. -- Kristine Figueroa, CCP, Head of Human Resources -- Ms. Figueroa is responsible for all human resources for the company, including recruitment, benefits management and employee relations. Ms. Figueroa brings more than 13 years of experience in human resources. Prior to Sangart, Figueroa held human resource management positions for SGX Pharmaceuticals and Elan Pharmaceuticals.
SOURCE Sangart, Inc.