Medgenics Names Clarence “Butch” Dellio as Chief Operating Officer
July 05 2011 - 10:44AM
Business Wire
Medgenics, Inc. (NYSE Amex: MDGN and AIM: MEDU, MEDG)
today announced that Clarence “Butch” Dellio has been named to the
position of Chief Operating Officer. Mr. Dellio will be based in
the Company’s new U.S. headquarters located in San Francisco,
California. Former Chief Operating Officer, Stephen Bellomo, will
continue with the Company as Vice President of Product Development
and Intellectual Property and Chief Operating Officer of Medgenics
Medical (Israel) Limited, the Company’s wholly-owned operating
subsidiary located in Israel.
Most recently Mr. Dellio has been a consultant to a variety of
emerging biotechnology and medical technology companies, providing
facilities, manufacturing, clinical and regulatory expertise to
therapeutics and diagnostics companies.
From 2004 to 2008 Mr. Dellio served as President and Chief
Operating Officer of Neosil, Inc., a venture-backed dermatology
company that subsequently merged with Peplin, Inc. From 1984 to
2004 he was Chief Operating Officer and Senior Vice
President-Operations for XOMA Ltd., a publicly held biotechnology
company focused on peptides and monoclonal antibodies. At XOMA he
held a series of progressively responsible positions culminating in
CFO and VP Manufacturing, where he led a staff of 70 in
manufacturing, facilities, process development, QA/QC, purchasing
and information technology. Previously Mr. Dellio was Vice
President Manufacturing/New Product Development Manager at
Becton-Dickinson & Company, a global medical technology
company. During his 11 years at Becton-Dickinson he held various
positions in multiple divisions, including Director of Planning,
Division Controller, Strategic Business Unit Controller and
Cost/Staff Accountant. Mr. Dellio earned his B.S. in Accounting
from Bentley College and served in the U.S. Air Force.
“Butch is a successful, results-orientated executive with
impressive credentials. He is known for rapidly scaling-up
companies and for attracting and building quality management
teams,” stated Andrew L. Pearlman, Ph.D., President and CEO of
Medgenics. “In April 2011 we completed our U.S. initial public
offering as part of our strategy to establish a U.S. presence, and
Butch’s appointment is an important step in executing that
strategy. His experience with clinical and manufacturing processes
will be valuable to Medgenics as we expand our autologous,
tissue-based technology platform into the U.S.”
Commenting on his appointment, Mr. Dellio said, “I am delighted
to be joining Medgenics at this important juncture in its
development. The Biopump is an exciting technology that has the
potential to change the treatment paradigm in a number of chronic
diseases. I look forward to working with the Medgenics team to
build the Company’s U.S. presence and to advancing this
breakthrough technology toward commercialization.”
In connection with his appointment, Mr. Dellio was issued
options to purchase 40,000 shares of Medgenics common stock under
the Company’s 2006 Stock Incentive Plan. Such options will vest in
equal increments over four years, expire in 10 years and have an
exercise price of $3.64 per share. Further details of the terms of
Mr. Dellio’s employment are set out in the related Form 8-K, a copy
of which will be available on the Company’s website at
www.medgenics.com.
About Medgenics
Medgenics is developing and commercializing Biopump, a
proprietary tissue-based platform technology for the sustained
production and delivery of therapeutic proteins using the patient’s
own skin biopsy for the treatment of a range of chronic diseases
including anemia, hepatitis C and hemophilia. Medgenics believes
this approach has multiple benefits compared with current
treatments, which include regular and costly injections of
therapeutic proteins.
Medgenics has three long-acting protein therapy products in
development based on this technology:
- EPODURE (now completing a Phase I/II
dose-ranging trial) to produce and deliver erythropoietin for many
months from a single administration, has demonstrated elevation and
stabilization of hemoglobin levels in anemic patients for 6 to more
than 24 months;
- INFRADURE (to commence a Phase I/II
trial in Israel in 2011) to produce a sustained therapeutic dose of
interferon-alpha for use in the treatment of hepatitis C;
- HEMODURE is a sustained Factor VIII
therapy for the prophylactic treatment of hemophilia, now in
development.
Medgenics intends to develop its innovative products and bring
them to market via strategic partnerships with major pharmaceutical
and/or medical device companies. Since October 2009, HEMODURE has
been the focus of cooperation between Medgenics and a major
healthcare company, a market leader in hemophilia.
In addition to treatments for anemia, hepatitis C and
hemophilia, Medgenics plans to develop and/or out-license a
pipeline of future Biopump products targeting the large and rapidly
growing global protein therapy market, which is forecast to reach
$132 billion in 2013. Other potential applications for Biopumps
include multiple sclerosis, arthritis, pediatric growth hormone
deficiency, obesity and diabetes.
Forward-looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934 and as that term is defined
in the Private Securities Litigation Reform Act of 1995, which
include all statements other than statements of historical fact,
including (without limitation) those regarding the Company's
financial position, its development and business strategy, its
product candidates and the plans and objectives of management for
future operations. The Company intends that such forward-looking
statements be subject to the safe harbors created by such laws.
Forward-looking statements are sometimes identified by their use of
the terms and phrases such as "estimate," "project," "intend,"
"forecast," "anticipate," "plan," "planning, "expect," "believe,"
"will," "will likely," "should," "could," "would," "may" or the
negative of such terms and other comparable terminology. All such
forward-looking statements are based on current expectations and
are subject to risks and uncertainties. Should any of these risks
or uncertainties materialize, or should any of the Company's
assumptions prove incorrect, actual results may differ materially
from those included within these forward-looking statements.
Accordingly, no undue reliance should be placed on these
forward-looking statements, which speak only as of the date made.
The Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based.
As a result of these factors, the events described in the
forward-looking statements contained in this release may not
occur.
Aevi Genomic Medicine (NASDAQ:GNMX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Aevi Genomic Medicine (NASDAQ:GNMX)
Historical Stock Chart
From Jul 2023 to Jul 2024