BioMimetic Pharmaceuticals Announces Additions to Senior Management Team
Larry E. Bullock appointed as Chief Financial Officer and Dr. Charles E. Hart appointed as Vice President, Orofacial Health Care and Chief Scientific Officer Franklin, TN, February 12, 2004 – BioMimetic Pharmaceuticals, Inc. (BMPI) announced today that Larry E. Bullock has joined the Company as Chief Financial Officer (CFO) and Charles E. Hart, Ph.D. as Chief Scientific Officer and Vice President of Orafacial Healthcare. Both individuals bring over 20 years of experience in the pharmaceutical industry to BMPI, a company focused on the development of protein therapeutics for the healing and restoration of bone and other musculoskeletal related tissues.
Mr. Bullock most recently served as CFO and Vice President of Finance and Administration at Ribozyme Pharmaceuticals. Dr. Hart has served in several key management positions at ZymoGenetics, Inc., including Director of Protein Biochemistry, Sr. Director of Business Development and Strategic Planning and Sr. Director of Corporate Communications and Investor Relations
"We are pleased to be able to hire Mr. Bullock and Dr. Hart, two individuals who bring a wealth of experience in the biotechnology area," commented Samuel E. Lynch, D.M.D., D.M.Sc., Chairman and Chief Executive Officer of BioMimetic Pharmaceuticals, Inc. "Mr. Bullock's strength in the finance area and his ties with the investment community will be extremely valuable assets to BMPI as we continue to grow the company. Dr. Hart brings further ties with the investment community, compliments our existing business development expertise and, additionally, brings extensive experience in developing protein therapeutics, including platelet-derived growth factor (PDGF), our lead product candidate. Together, Larry and Charlie greatly strengthen and expand the management expertise and experience at BMPI." "I am excited to be able to join BMPI at this stage of its development," stated Mr. Bullock. "The Company is ready for an important transition, with a product that has completed advanced clinical trials and is positioned for approval within the coming year. The speed at which BMPI has made this happen is one of the things that most impressed me about the company. This rapid product advancement means that we will need to establish additional functions in the finance area to support commercialization of our first product."
"Joining BMPI is an exciting opportunity, allowing me to take advantage of my previous experience with PDGF, the lead protein under development by BioMimetic. This protein has significant opportunities in orthopedics and other markets well beyond the initial indication for the treatment of periodontal disease," commented Dr. Hart. "As PDGF has been a major research focus of mine over the past decade, it is rewarding to be able to work with Dr. Lynch and the rest of the BMPI management team who have done an impressive job in rapidly advancing the development of PDGF in the periodontal area. BMPI is in the unique position of being a private biotechnology company with a product candidate that has completed a pivotal clinical trial and is ready for submission to the FDA."
Prior to joining BMPI Mr. Bullock was CFO in two biotechnology companies during and after their Initial Public Offerings (IPO), Ribozyme Pharmaceuticals, and La Jolla Pharmaceuticals. At both Ribozyme and La Jolla, Mr. Bullock was responsible for overseeing the activities associated with their IPO's, private and public financings, several significant partnerships and numerous operational and administrative functions. Additionally, Mr. Bullock has several years of big pharma and entrepreneurial experience. Mr. Bullock received his MBA in Finance & Marketing from the University of Utah.
Dr. Hart brings a broad-based background in the biotechnology industry to BMPI, having worked at ZymoGenetics for the past 21 years where he held numerous posts in research and administration. Dr. Hart served as the Sr. Director of Corporate Communications and Investor Relations during the time of the Company's IPO in 2002 and recent follow-on offering completed in 2003. Prior to that he was responsible for business development, technology licensing and partnership agreements. In addition, Dr. Hart has over 15 years of experience in research and development at ZymoGenetics, including holding the position of Director of Protein Biochemistry. Dr. Hart has authored over 50 scientific publications, and holds 20 US patents, the majority related to PDGF. Dr. Hart received his Ph.D. from the Department of Pathology at the University of Washington and currently holds the position of Affiliate Assistant Research Professor in the Department of Pathology at the University of Washington.
About BioMimetic Pharmaceuticals
BioMimetic Pharmaceuticals, Inc. (BMPI) is a private biopharmaceutical company focused on the development, commercialization, and ultimate marketing of protein therapeutics for the healing and restoration of bone and other musculoskeletal related tissues. Major therapeutic areas of interest include periodontal, cranio-maxillofacial, orthopedics, spine, osteoarthritis and osteoporosis. The Company's product candidates combine recombinant human platelet-derived growth factor with synthetic or natural bone matrices. PDGF-BB is a potent stimulator of cells involved in the musculoskeletal system and has been observed to stimulate bone formation in preclinical and clinical studies. Through license agreements, the Company has established a broad patent portfolio protecting its lead product candidates and clinical indications. For further information, visit www.biomimetics.com.
Forward-looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current intent and expectations of the management of BioMimetic Pharmaceuticals. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. BioMimetic's actual results and the timing and outcome of events may differ materially from those expressed in or implied by the forward-looking statements because of risks associated with our unproven preclinical and clinical development activities, regulatory oversight, intellectual property claims, litigation and other risks. Except as required by law, BioMimetic undertakes no obligation to update any forward-looking or other statements in this press release, whether as a result of new information, future events or otherwise.
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