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Recent Press Releases
Ivrea Pharmaceuticals Announces Successful InVitro
Nail Penetration Results with IVR 101 and IVR 102
Quincy, MA – February 2, 2007 – Ivrea
Pharmaceuticals, Inc., a privately-held specialty pharmaceutical
company focused on developing and commercializing novel
treatments for dermatologic conditions, announced today that its
proprietary gels, IVR 101 and IVR 102, were successful in
delivering fungicidal active ingredients efficiently through the
human nail in a standard model.
“The Ivrea team is very encouraged that IVR 101 and IVR 102
have been shown, in this study, to deliver such high
concentrations of known fungicidals through the nail,” said
Dan Lynch, Ivrea’s CEO. “With these results, coupled with
the recently completed enrollment of our Phase II clinical
trial, we remain optimistic that the combination of our
proprietary gels with known highly-active fungicidal ingredients
will allow Ivrea to create unique prescription products that
offer an unparalleled combination of efficacy, safety and
convenience for the treatment of onychomycosis.”
Ivrea, using IVR 101 and IVR 102, seeks to achieve the
efficacy of oral medications and the safety of topical
applications for the successful treatment of onychomycosis. IVR
101 and IVR 102 are topically applied gels which deliver active
ingredients efficiently through the nail to the site of the
fungal infection without the build-up of layers of lacquer on
the nail, and with less likelihood of irritation.
The well-known fungicidal allylamines terbinafine and
naftifine were each studied at 2% and 6% concentrations to
determine the in vitro penetration and permeation through human
cadaver nails. The following data are expressed as the mean +/-
the standard deviation. The 21–day cumulative penetration
(measured in micrograms) of terbinafine was 26.8 +/- 9.7, and
46.6 +/- 20.3. for the 2% and 6 % formulations respectively. The
corresponding values for the naftifine 2% and 6% formulations
were respectively, 26.0 +/- 11.7 and 38.6 +/- 11.3. The levels
of the allylamines within the nail at day 21 (measured in
micrograms/milligram) were 0.17 +/- 0.05 and 1.01 +/- 0.01 for
the 2% and 6% terbinafine formulations, respectively. The
corresponding values for the naftifine 2% and 6% formulations
were 0.26 +/- 0.18 and 0.57 +/- 0.18.
The data suggest that the mean fungicidal concentrations, for
each active ingredient at both the 2% and 6% concentrations,
have been significantly exceeded, both in the nail, in a freely
available form, and beneath the nail.
About Ivrea
Ivrea is a specialty pharmaceutical company focused on
clinical development and commercialization of novel prescription
pharmaceuticals for the treatment of dermatologic conditions.
The company currently has two programs in clinical trials that
leverage our proprietary topical delivery technologies: IVR
101/102 which combines our proprietary gels with known
fungicidal active ingredients, thus creating unique
dermatological prescription products for the treatment of
onychomycosis that offer the safety of topical application while
simultaneously providing the efficacy associated with oral
medications; and IVR 103 which utilizes our proprietary platform
technology to reduce the level of irritation associated with all
trans retinoic acid (also called tretinoin) while uniquely
maintaining efficacy in treating acne. The company’s investors
include Atlas Venture, Easton Capital, and CHL Medical Partners.
For additional information about Ivrea Pharmaceuticals, visit
the company’s website, www.ivreapharma.com.
Contact:
Daniel S. Lynch
President and CEO
Ivrea Pharmaceuticals, Inc.
dlynch@ivreapharma.com
Ivrea Pharmaceuticals Appoints Daniel S. Lynch as President
and Chief Executive Officer
Quincy, MA – February 1, 2007 – Ivrea
Pharmaceuticals, Inc., a privately-held specialty pharmaceutical
company focused on developing and commercializing novel
treatments for dermatologic conditions, announced today the
appointment of Daniel S. Lynch as president and chief executive
officer.
Mr. Lynch spent nearly five years at ImClone Systems, Inc. as
both CFO and CEO. As CEO, Mr. Lynch led ImClone through a
significant turnaround, helping to restore the company's
reputation and receive FDA approval of ERBITUX® (Cetuximab), an
important and novel treatment for cancer patients. As CFO, Mr.
Lynch led negotiations with Bristol-Myers Squibb, resulting in
one of the most significant Biotech-Big Pharma transactions in
history. Prior to ImClone, he held the position of chief
financial officer of Derby Cycle Corporation, a private-equity
portfolio company. Before that, Mr. Lynch held positions of
increasing responsibility in finance at Bristol-Myers Squibb
over a fifteen year period. He is a member of the board of
directors of U.S. Oncology, Inc.
"Dan brings over 20 years of healthcare leadership to
Ivrea including substantial experience in strategy development,
operational execution, research & development, business
development and finance," said Peter Barrett, of Atlas
Venture and chairman of Ivrea's board of directors. "Dan's
proven management ability will be invaluable as we take Ivrea to
the next stage of development and leverage our proprietary
technology."
"Ivrea is poised to make significant progress in the
development of its pipeline of novel dermatologic treatments,
including our unique, proprietary gel for the treatment of
onychomycosis, a market estimated to be approximately $1.5
billion worldwide," said Lynch. "Ivrea has a
combination of great people, truly unique technology, the
backing of a superb investor group, unrivaled expertise on our
Medical Advisory Board, and the passion to deliver new products
to the marketplace."
Mr. Lynch holds an M.B.A. from the Darden Graduate School of
Business Administration at the University of Virginia, and a
bachelor of arts in mathematics from Wesleyan University.
About Ivrea
Ivrea is a specialty pharmaceutical company focused on
clinical development and commercialization of novel prescription
pharmaceuticals for the treatment of dermatologic conditions.
The company currently has two programs in clinical trials that
leverage our proprietary topical delivery technologies: IVR
101/102 which combines our proprietary gels with known
fungicidal active ingredients, thus creating unique
dermatological prescription products for the treatment of
onychomycosis that offer the safety of topical application while
simultaneously providing the efficacy associated with oral
medications; and IVR 103 which utilizes our proprietary platform
technology to reduce the level of irritation associated with all
trans retinoic acid (also called tretinoin) while uniquely
maintaining efficacy in treating acne. The company's investors
include Atlas Venture, Easton Capital, and CHL Medical Partners.
For additional information about Ivrea Pharmaceuticals, visit
the company's website, www.ivreapharma.com.
Contact:
Peter Steinerman
Steinerman Biomedical Communications
(516) 374-3031
Ivrea Pharmaceuticals Announces Formation of New Medical
Advisory Board
Quincy, MA – February 1, 2007 – Ivrea
Pharmaceuticals, Inc., a privately-held specialty pharmaceutical
company focused on developing and commercializing novel
treatments for dermatologic conditions, announced today the
formation of a new Medical Advisory Board, to be chaired by Seth
Orlow, M.D. Ph.D., to counsel it in its drug development
efforts. This world class advisory group will provide medical
input to the company as it finalizes its clinical and regulatory
strategy, thus improving the likelihood innovative treatments
will be commercialized.
"Ivrea is fortunate to benefit from the guidance and
insights provided by this distinguished group of advisors,"
commented Dan Lynch, CEO of Ivrea. "All of its members are
experts in their respective fields within dermatology and will
bring years of experience and perspective to the task of
optimizing our development strategies for our products,
beginning with our promising gel for the treatment of
onychomycosis."
"I am excited to be able to assemble a stellar group of
colleagues to assist Ivrea in developing therapies that address
our patients' unmet needs. I look forward to working with Dan
Lynch and his team to bring on additional MAB members in the
near future," said Dr. Orlow.
Members of the new Medical Advisory Board are:
Seth Orlow, M.D. Ph.D., is a co-founder and
board member of Ivrea Pharmaceuticals and serves as chairman of
the company's Medical Advisory Board. He is chairman of
Dermatology and a professor of Dermatology, Cell Biology, and
Pediatrics at New York University School of Medicine. A venture
partner with Easton Capital Partners, Dr. Orlow currently serves
on the boards of Protez Pharmaceuticals and Transave, Inc. He
was also a founder of the Anaderm Research Corporation, a
privately held drug discovery company acquired by Pfizer. Dr.
Orlow has more than 15 years of experience as a consultant to
major pharmaceutical companies, biotechnology companies, OTC
manufacturers, and private equity firms on early and late stage
pre-clinical drug discovery, clinical development, market
opportunities, in-licensing, out-licensing, and strategy. He
holds an A.B. in Biochemical Sciences from Harvard College and
an M.D.-Ph.D. in Molecular Pharmacology from Albert Einstein
College of Medicine. Dr. Orlow trained in dermatology at Yale.
Guy Webster, M.D. Ph.D., received his
degrees from the University of Pennsylvania and completed
residency training in dermatology at New York University. An
internationally recognized expert in acne, cutaneous infectious
and inflammatory diseases and in the clinical development of
dermatologic therapies, Dr. Webster has over 100 publications.
Until 2005, he was professor and vice chairman in the department
of Dermatology of Jefferson Medical College in Philadelphia
where he also directed the clinical trials unit in the
evaluation of therapeutics in dermatology. Currently, he is a
clinical professor of Dermatology at Jefferson.
Lawrence Eichenfield, M.D., is chief of
Pediatric and Adolescent Dermatology at Rady Children's
Hospital, San Diego, and professor of Pediatrics and Medicine
(Dermatology), at the University of California, San Diego (UCSD)
School of Medicine. He earned his medical degree from Mount
Sinai School of Medicine, was a pediatric resident and chief
resident at Children's Hospital of Philadelphia, and completed
dermatology training at the Hospital of the University of
Pennsylvania. He is board certified in pediatrics, dermatology
and pediatric dermatology. Dr. Eichenfield's clinical interests
include atopic dermatitis, acne, laser surgery, and procedural
pain control. He has appeared in front of FDA advisory boards
and has been a principal investigator in numerous trials of
topical and systemic agents for conditions including atopic
dermatitis, fungal infections, acne and many others. Dr.
Eichenfield serves on the board of the American Academy of
Dermatology. He is editor-in-chief of Pediatric Dermatology and
has published more than 150 journal articles, chapters and
abstracts, and books.
About Ivrea
Ivrea is a specialty pharmaceutical company focused on
clinical development and commercialization of novel prescription
pharmaceuticals for the treatment of dermatologic conditions.
The company currently has two programs in clinical trials that
leverage our proprietary topical delivery technologies: IVR
101/102 which combines our proprietary gels with known
fungicidal active ingredients, thus creating unique
dermatological prescription products for the treatment of
onychomycosis that offer the safety of topical application while
simultaneously providing the efficacy associated with oral
medications. and IVR 103 which utilizes our proprietary platform
technology to reduce the level of irritation associated with all
trans retinoic acid (also called tretinoin) while uniquely
maintaining efficacy in treating acne. The company’s investors
include Atlas Venture, Easton Capital, and CHL Medical Partners.
For additional information about Ivrea Pharmaceuticals, visit
the company’s website, www.ivreapharma.com.
Contact:
Daniel S. Lynch
President and CEO
Ivrea Pharmaceuticals, Inc.
(617) 376-2491
Ivrea Pharmaceuticals Raises $11 Million for Clinical
Development
QUINCY, Mass., June 30 2006 — Ivrea
Pharmaceuticals, an emerging specialty pharmaceutical company
focusing on dermatology, today announced it raised $11 million
from existing investors Atlas Venture and Easton Capital and new
investor CHL Medical Partners.
"Our existing investors and CHL Medical Partners
recognize the immense potential of the two compounds we have in
the clinic. Their support will enable IVREA to advance these two
programs beyond Phase II clinical development," said
Michael Kobos, President and CEO of IVREA Pharmaceuticals.
With the closing of the financing, Myles Greenberg, M.D., of
CHL Medical Partners will join existing Board members, Michael
Kobos, CEO, Seth Orlow, M.D., Ph.D., Chair of the Department of
Dermatology at NYU, Scott Silverman, D.Phil. and Peter Barrett,
Ph.D. of Atlas Venture and Frank Garcia of Easton Capital.
Contact: Daniel Lynch
Tel: 617-376-2491 ext 1
e-mail: dlynch@ivreapharma.com
About Atlas Venture
Atlas Venture is currently investing from its seventh fund
and manages over $2 billion in capital. Since it was started in
1980, Atlas Venture has helped build over 300 companies in more
than 15 different countries. Since 1995, 40 of its companies
have been acquired and 39 are now public companies with an
aggregate market capitalization of over $12 billion.
About Easton Capital
Easton Capital Investment Group manages approximately $200
million of venture capital and private equity funds. Aggregating
more than 170 years of experience, its principals focus on a
broadly defined vision of investing in undervalued companies in
undervalued market segments. This diversified approach has
entailed venture investments in early as well as late stage
companies in addition to management buyouts.
About CHL Medical Partners
CHL Medical Partners is a healthcare venture capital firm
founded in 1990, managing funds with combined committed capital
of more than $250 million. CHL invests principally in start-up
and early stage companies in the biotechnology, medical devices,
and healthcare services sectors located throughout the
continental U.S. CHL is based in Stamford, CT.
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