Tuesday January 21 2003, 8:10 AM Eastern Time
Panacea Pharmaceuticals, Inc. Appoints Lawrence I. Glass As Chief Strategy Officer
GAITHERSBURG, Md., Jan. 21 /PRNewswire/ -- Panacea Pharmaceuticals, Inc. is pleased to announce the appointment of Lawrence I. Glass to the position of Chief Strategy Officer. In this new position, Mr. Glass will be responsible for the development of strategic plans that address and integrate all major segments of the Company including product development, operational, legal, and financial activities.
"We are excited to appoint Larry to this important position, which has been designed to bring critical real-time analysis, insights, forecasts, and creativity to Panacea," stated Hossein A. Ghanbari, PhD, President & CEO of the Company.
Mr. Glass is a manager, strategist, and scientist with more than twenty years of experience in the life sciences industry. The primary emphasis of his career has been on business and corporate development, building and directing biomedical research, and drug development programs. His particular expertise is in developing interdisciplinary programs that integrate laboratory and clinical R&D with corporate development strategies. He also has extensive experience in areas such as financing, mergers and acquisitions, and technology assessment.
Mr. Glass served as Executive Vice-President for Corporate Development & Scientific Affairs for Virco Lab, Inc., the U.S. subsidiary of Virco Group (Belgium). Prior to that, he spent nearly twenty years at SRA Life Sciences, Inc., which was acquired by Virco in late 2000. At SRA, Mr. Glass served as Senior Vice-President & Director of Corporate Development and most recently as President & CEO. He was the principal architect of SRA's biomedical business and built an internationally recognized team conducting pharmacogenomic and viral drug resistance testing, working with many of the top pharmaceutical and biotechnology companies in the world.
Prior to SRA, Mr. Glass held positions at various institutions including the National Institute for Advanced Studies, the University of Minnesota College of Medicine, and the Minneapolis Children's Hospital and Health Center.
Mr. Glass serves as a Director for Imperidis Corporation, a medical device company developing novel products for post-operative and long-term care applications.
About Panacea Pharmaceuticals
Panacea Pharmaceuticals, Inc. is an emerging biopharmaceutical company focused on utilizing functional genomics and proteomics to develop therapeutics and diagnostics for diseases with substantial unmet clinical need. The Company's product development focus is on novel proteins and biochemical pathways related to cellular regulation and cell cycle abnormalities in oncology as well as neurodegenerative diseases, particularly Alzheimer's disease and Parkinson's disease.
More information is available at http://www.PanaceaPharma.com .
Except for historical information presented in this press release, matters discussed herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are based on the opinions and estimates of management only as of the date of this release and are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance, or achievements expressed or implied by such statements. Factors that might cause such a difference include, but are not limited to, uncertainties related to our access to capital, the progress, costs, and results of any clinical trials undertaken by us, progress of our research and development projects, and uncertainties related to whether our product candidates would ultimately achieve commercial success. We do not undertake any obligation to update publicly any forward-looking statement, whether as a result of new information, future events, or otherwise unless required by law. Contact: Panacea Pharmaceuticals, Inc. Kasra Ghanbari, Chief Operating Officer Phone 240-243-8000; FAX 240-465-0450 Kasra@PanaceaPharma.com
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