Rib-X Pharmaceuticals, Inc. Appoints Dr. George Milne as Executive Chairman of the Board of Directors
New Haven, Connecticut. July 31, 2008 — Rib-X Pharmaceuticals, Inc.,
a development stage company focused on the discovery and development of novel antibiotics
for the treatment of antibiotic resistant infections, announced today that George M. Milne,
Jr., Ph.D, has been appointed Executive Chairman of the Board of Directors. Dr. Milne
succeeds Harry H. Penner, Jr., who served as Board Chairman since the Company's first
Board meeting in January, 2001.
Dr. Milne, 64, joined Rib-X's Board of Directors in January, 2004, and is currently a Venture Partner with Radius Ventures, L.L.C., a health and life sciences venture capital firm based in New York. Dr. Milne, a Pfizer veteran of 32 years, covered all elements of biomedical innovation, spanning positions including Corporate Senior Vice President with global responsibility for Human Health and Veterinary Research and Development and Executive Vice President for Global Research and Development. During Dr. Milne's tenure from 1993 to 2001 as President for global research and development, Pfizer's research investment increased five-fold from $493 million to over $2.3 billion; a number of significant products were developed; a substantial portfolio of collaborations with prominent biotechnology companies was built; and a broad array of important new pharmaceutical products and discovery technologies were introduced.
Susan Froshauer, Ph.D, President and Chief Executive Officer at Rib-X, commented, "George and I have a long history of working together that goes back to our Pfizer days and I look forward to a renewed collaboration that will join his experience, that comes from his decades of focus on pharmaceutical R&D, with those of my team. Rib-X is entering a critical period, and with the added dimension of George's Chairmanship I am confident we will realize the clinical fruits of our investments in becoming a leader in translating a proprietary understanding of the ribosome into important new drug candidates. Rib-X has had the great fortune to work with a team of directors that has offered unparalleled guidance as we strive to develop new classes of antibiotics that are able to address the growing challenge of multi-drug resistant bacteria. We appreciate the important role Harry has played in the growth and development of Rib-X. We continue in this tradition with Dr. George Milne."
"Rib-X is poised to become a leader in the antibiotic space," said Dr. Milne. "I was attracted to Rib-X by the outstanding quality of their leadership team, the importance of their mission of discovering and developing new therapies for life threatening, resistant bacterial infections, and their proven ability to translate their structure-based drug design platform into distinctive new antibiotics, such as radezolid (RX-1741) which is in late stage clinical development for community acquired pneumonia and uncomplicated skin and skin structure infections and two programs with promising leads including two entirely new families of antibiotics for serious Gram-negative infections. These compounds are a direct reflection of the effectiveness of Rib-X's unique three-dimensional insight into the bacterial ribosome, and its translation into the development of whole families of newly designed antibiotics that address major medical needs. In addition to these programs, Rib-X has acquired the exclusive rights to another late stage clinical compound, delafloxacin (RX-3341) which is currently being developed for complicated skin and skin structure infections. Both clinical programs will report Phase 2 data in the second half of the year. I look forward to my continued work with Susan and the Rib-X team as they take the Company and its programs to the next level."
Dr. Milne also serves on a variety of boards including boards of Charles River Laboratories, Mettler-Toledo, BioStorage Technologies, Athersys, Resolvyx, the Mystic Aquarium and the New York Botanical Garden. Dr. Milne received a B.S. in Chemistry from Yale University and his Ph.D in Organic Chemistry from the Massachusetts Institute of Technology.
About Rib-X Pharmaceuticals
Rib-X Pharmaceuticals, Inc. is a product-driven small-molecule drug discovery and development company focused on developing and commercializing antibiotics to treat highly-resistant bacterial infections. Based in New Haven, Connecticut, the Company has raised over $170 million and has two programs, delafloxacin and radezolid, in advanced clinical trials. In addition, a preclinical program featuring an entirely new class of broad-spectrum antibiotics with the potential to treat even highly- resistant Gram-negative infections is scheduled to begin clinical trials in 2011.
Rib-X designs and develops novel small-molecule antibiotics by leveraging the Company's Nobel Prize- winning discovery platform to perform structure-based design and optimization. While many commercially valuable classes of antibiotics bind to the bacterial ribosome, including oxazolidinones, tetracyclines and macrolides, traditional antibiotic discovery relies heavily on serendipity. Rib-X's key competitive advantage is its proprietary understanding of ribosome structure, which enables it to generate antibiotics that overcome known resistance mechanisms and have broad-spectrum activity.
Rib-X's integrated research strategy combines state-of-the-art, proprietary computational analysis, X-ray crystallography, medicinal chemistry, microbiology and biochemistry, thereby allowing Rib-X to rapidly synthesize new agents designed to avoid typical antibiotic resistance mechanisms. Rib-X's iterative intelligent engine has yielded several distinct new antibiotic classes.
Dr. Milne, 64, joined Rib-X's Board of Directors in January, 2004, and is currently a Venture Partner with Radius Ventures, L.L.C., a health and life sciences venture capital firm based in New York. Dr. Milne, a Pfizer veteran of 32 years, covered all elements of biomedical innovation, spanning positions including Corporate Senior Vice President with global responsibility for Human Health and Veterinary Research and Development and Executive Vice President for Global Research and Development. During Dr. Milne's tenure from 1993 to 2001 as President for global research and development, Pfizer's research investment increased five-fold from $493 million to over $2.3 billion; a number of significant products were developed; a substantial portfolio of collaborations with prominent biotechnology companies was built; and a broad array of important new pharmaceutical products and discovery technologies were introduced.
Susan Froshauer, Ph.D, President and Chief Executive Officer at Rib-X, commented, "George and I have a long history of working together that goes back to our Pfizer days and I look forward to a renewed collaboration that will join his experience, that comes from his decades of focus on pharmaceutical R&D, with those of my team. Rib-X is entering a critical period, and with the added dimension of George's Chairmanship I am confident we will realize the clinical fruits of our investments in becoming a leader in translating a proprietary understanding of the ribosome into important new drug candidates. Rib-X has had the great fortune to work with a team of directors that has offered unparalleled guidance as we strive to develop new classes of antibiotics that are able to address the growing challenge of multi-drug resistant bacteria. We appreciate the important role Harry has played in the growth and development of Rib-X. We continue in this tradition with Dr. George Milne."
"Rib-X is poised to become a leader in the antibiotic space," said Dr. Milne. "I was attracted to Rib-X by the outstanding quality of their leadership team, the importance of their mission of discovering and developing new therapies for life threatening, resistant bacterial infections, and their proven ability to translate their structure-based drug design platform into distinctive new antibiotics, such as radezolid (RX-1741) which is in late stage clinical development for community acquired pneumonia and uncomplicated skin and skin structure infections and two programs with promising leads including two entirely new families of antibiotics for serious Gram-negative infections. These compounds are a direct reflection of the effectiveness of Rib-X's unique three-dimensional insight into the bacterial ribosome, and its translation into the development of whole families of newly designed antibiotics that address major medical needs. In addition to these programs, Rib-X has acquired the exclusive rights to another late stage clinical compound, delafloxacin (RX-3341) which is currently being developed for complicated skin and skin structure infections. Both clinical programs will report Phase 2 data in the second half of the year. I look forward to my continued work with Susan and the Rib-X team as they take the Company and its programs to the next level."
Dr. Milne also serves on a variety of boards including boards of Charles River Laboratories, Mettler-Toledo, BioStorage Technologies, Athersys, Resolvyx, the Mystic Aquarium and the New York Botanical Garden. Dr. Milne received a B.S. in Chemistry from Yale University and his Ph.D in Organic Chemistry from the Massachusetts Institute of Technology.
About Rib-X Pharmaceuticals
Rib-X Pharmaceuticals, Inc. is a product-driven small-molecule drug discovery and development company focused on developing and commercializing antibiotics to treat highly-resistant bacterial infections. Based in New Haven, Connecticut, the Company has raised over $170 million and has two programs, delafloxacin and radezolid, in advanced clinical trials. In addition, a preclinical program featuring an entirely new class of broad-spectrum antibiotics with the potential to treat even highly- resistant Gram-negative infections is scheduled to begin clinical trials in 2011.
Rib-X designs and develops novel small-molecule antibiotics by leveraging the Company's Nobel Prize- winning discovery platform to perform structure-based design and optimization. While many commercially valuable classes of antibiotics bind to the bacterial ribosome, including oxazolidinones, tetracyclines and macrolides, traditional antibiotic discovery relies heavily on serendipity. Rib-X's key competitive advantage is its proprietary understanding of ribosome structure, which enables it to generate antibiotics that overcome known resistance mechanisms and have broad-spectrum activity.
Rib-X's integrated research strategy combines state-of-the-art, proprietary computational analysis, X-ray crystallography, medicinal chemistry, microbiology and biochemistry, thereby allowing Rib-X to rapidly synthesize new agents designed to avoid typical antibiotic resistance mechanisms. Rib-X's iterative intelligent engine has yielded several distinct new antibiotic classes.
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