Symmetrix Pharmaceuticals Announces the Appointment of Ronald J. Shebuski, Ph.D. as Chief Scientific Officer

Wednesday, December 24, 2008 General News
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EDISON, N.J., Dec. 23 Effective January 1, 2009, Ronald J. Shebuski, Ph.D. will join Symmetrix Pharmaceuticals, LLC as Chief Scientific Officer. Symmetrix is a subsidiary of Nostrum Pharmaceuticals, LLC, which is based in Edison, NJ, and is the parent of Singapore-based Symmetrix Biotech Pte. Ltd. The synergy between Symmetrix's core capability of biopharmaceutical development and Nostrum's core strength of small molecule pharmaceuticals development aims at developing a rich pipeline of novel, patented biopharmaceutical therapeutic protein drugs by identifying emerging technologies worldwide. The result of this synergy is reflected in Symmetrix Biotech's development, along with Symmetrix, of Clot Specific Streptokinase (SMRX 11) obtained pursuant to license from the Institute of Microbial Technology (IMTECH), Chandigarh, for exclusive worldwide clinical development and marketing in July 2006. Clot Specific Streptokinase, invented at IMTECH by Dr. Girish Sahni and his team, is a targeted thrombolytic which, unlike Streptokinase, causes plasminogenolysis, a key step that leads to clot dissolution, only in the presence of the blood clot, thereby avoiding the side effects caused by Streptokinase due to the formation of massive amounts of blood plasmin as a result of indiscriminate plasminogenolysis by Streptokinase.

Dr. Shebuski, an eminent cardiovascular pharmacologist, has broad experience in cardiovascular drug development with over 25 years of experience in the pharmaceutical industry. He will be responsible for the pre-clinical and clinical development of SMRX 11 under the direction of Yatindra Prashar, Ph.D., President and CEO of Symmetrix, pursuant to contract with Symmetrix Biotech.

"SMRX 11 is an outstanding new development in the thrombolytic field," Dr. Shebuski said. Furthermore, Dr. Shebuski stated, "The ability to treat patients in the field with an immediate injection to restore blood flow to the heart will save countless lives." Dr. Prashar added, "In the absence of a blood clot, SMRX 11 circulates in the blood stream like any harmless protein without side effects but gets activated when it hits the blood clot. This product, to be used as a bolus injection, will compete in the thrombolytic market with injectable tPA and tPA variants and offer a much more economical solution to treating patients with acute coronary complications and other life-threatening cardiovascular conditions. We have already demonstrated SMRX 11 efficacy in monkeys, and our preliminary animal toxicological results indicate a safe high dose tolerance by rats and dogs. Dr. Shebuski, the entire senior management team at Nostrum and Symmetrix Biotech and I are very enthusiastic and well poised to bring this product to the worldwide market." Nirmal Mulye, Ph.D., President and founder of Nostrum Pharmaceuticals LLC, added, "I am very pleased and excited to have a scientist and professional of Dr. Shebuski's caliber joining the Nostrum team."

Previously, Dr. Shebuski was the Vice-President of Research for Afmedica, Inc, which developed a drug-eluting medical device, which was acquired by Angiotech Pharmaceuticals. Prior to that he directed the Cardiovascular Therapeutics Group at Pharmacia & Upjohn (PNU) where he managed the team responsible for FDA approval of the Class III anti-arrhythmic agent, Corvert(R). He also led cardiovascular drug discovery teams identifying novel thrombolytics, Factor Xa inhibitors, P-selectin antagonists and anti-platelet agents at PNU, SmithKline and Merck. At Merck, he led the pre-clinical in vivo discovery and development effort which culminated in the identification and eventual FDA approval of the anti-platelet GPIIb/IIIa antagonist, Aggrastat(R).

Dr. Shebuski is an Adjunct Associate Professor of Pharmacology and Professor of Integrative Biology & Physiology at the University of Minnesota Medical School. He received his B.S. Degree in Microbiology from the University of Wisconsin-Madison and Ph.D. Degree in Pharmacology from the University of Minnesota Medical School in Minneapolis.

SOURCE Symmetrix Pharmaceuticals, LLC

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