Juventas Therapeutics Hires Biotechnology Veteran Paul Resnick as Vice President of Business Development
CLEVELAND, Jan. 28, 2013 /PRNewswire-USNewswire/ -- Juventas Therapeutics, a privately-held, clinical-stage company developing novel regenerative therapies for treatment of cardiovascular disease announced today that Paul Resnick, M.D., M.B.A., has joined the company as Vice President of Business Development. Dr. Resnick brings more than 25 years of healthcare and business development experience to the role. In this position, Dr. Resnick's efforts will be to drive business development efforts while supporting the company's broader corporate strategic vision.
Juventas' technology platform is based on developing factors that activate or enhance natural stem-cell based repair pathways. The company is currently enrolling Phase II clinical trials in heart failure (HF) and critical limb ischemia (CLI) for lead product JVS-100. JVS-100 encodes Stromal cell-Derived Factor 1 (SDF-1), which has been shown to repair damaged tissue through recruitment of circulating stem cells to the site of injury, prevention of ongoing cell death, and restoration of blood flow.
Dr. Resnick's professional experience includes product and business development from early-stage private companies to top five pharmaceutical companies. Most recently, Dr. Resnick led business development for Intellikine, culminating in its acquisition last year by Takeda Pharmaceuticals for $190 million upfront and up to $120 million in potential clinical milestones. He also played a key role in the Rinat Neurosciences acquisition by Pfizer in 2007 for $500 million in cash.
"We are delighted to welcome Paul to Juventas' senior management team," commented Rahul Aras, President and Chief Executive Officer. "Given the development stage and clinical potential for JVS-100, we believe having someone with Paul's experience focused on strategic opportunities will allow us to best recognize the long-term value of this platform."
"I'm thrilled to join the Juventas team," remarked Dr. Resnick. "Juventas is pursuing a unique therapeutic strategy in the exciting field of regenerative medicine. Through activation of a patient's own stem-cell repair processes, JVS-100 delivers regenerative benefits without the cost and complexities typically associated with cell-based therapeutics. I look forward to applying my industry perspective and leveraging my contacts to help Juventas transition toward commercialization."
About Juventas Therapeutics
Juventas Therapeutics, headquartered in Cleveland, OH, is a privately held clinical-stage biotechnology company developing a pipeline of regenerative therapies to treat life–threatening diseases. Founded in 2007 with an exclusive license from Cleveland Clinic, Juventas has transitioned its therapeutic platform from concept to initiation of mid-stage clinical trials for treatment of heart failure and critical limb ischemia. Investors include Triathlon Medical Ventures, New Science Ventures, Takeda Ventures, Venture Investors, Early Stage Partners, Fletcher Spaght Ventures, Reservoir Venture Partners, Glengary, The Global Cardiovascular Innovation Center, Tri-State Growth Fund, North Coast Angel Fund, X Gen Ltd., JumpStart Inc., and Blue Chip Venture Co. The company has received non-dilutive grant support through the Ohio Third Frontier-funded Cleveland Clinic Ohio BioValidation Fund, Global Cardiovascular Innovation Center and Center for Stem Cell & Regenerative Medicine.
CONTACT: Juventas Therapeutics, Inc., Rahul Aras, Ph.D., +1-216-273-4000, Rahul@juventasinc.com, Website: www.juventasinc.com
SOURCE Juventas Therapeutics