CAMBRIDGE, MA –April 7, 2009 – TransMolecular, Inc. today announced the appointment of Robert Radie as President and Chief Executive Officer, as well as the promotion of E. Michael Egan, former President and Chief Executive Officer, to the position of Vice Chairman of the Board. Mr. Radie, who previously served as a full-time business development consultant for the Company, has over 23 years of experience in the pharmaceutical and biotechnology industry.
“Bob’s track record of successful corporate development transactions comes at an important time in the evolution of TransMolecular,” said Nicholas C. Nicolaides, Ph.D., Chairman of TransMolecular’s Board of Directors. “Michael’s continued involvement and counsel as Vice Chairman will provide a smooth transition, as he has been instrumental to TransMolecular’s success, both clinically and corporately, since joining the Company.”
“The TM601 tumor-targeting platform has been validated in a number of clinical and preclinical studies, and is therefore a highly partnerable asset for companies that need a vehicle to target and deliver their drug directly to tumors,” said Mr. Radie. “I am happy to join a Company with such a compelling technology platform and at an exciting time in its development. TM601’s tumor-targeting and anti-angiogenic properties provide a broad therapeutic potential across several oncology and ophthalmology applications. I envision multiple partnering opportunities for this program.”
Prior to joining TransMolecular, Mr. Radie was Executive Vice President and Chief Business Officer at Prestwick Pharmaceuticals, Inc., and Vice President of Project Management and Chief Business Officer at Morphotek. He played leading roles in the successful acquisition of Prestwick by Biovail in 2008, as well as the acquisition of Morphotek by Eisai in 2007. In addition, he previously held the position of Senior Vice President of Strategic Projects and Planning at Vicuron Pharmaceuticals, where he was responsible for corporate strategy and business development and played an integral role in its $1.8 billion acquisition by Pfizer. Before joining Vicuron, he served in a broad range of positions of increasing responsibility at Eli Lilly. Mr. Radie holds a Bachelor of Science degree in chemistry from Boston College.
About TM601
TM601 is a novel, wholly synthetic peptide, which is highly specific and selective in targeting both primary tumors and metastases in the periphery and in the central nervous system. TM601 targets and binds to receptors expressed on tumor cells, but not on normal, healthy cells. When radiolabeled TM601 is administered it is actively and rapidly taken up into these tumor cells, delivering a highly concentrated dose of radiation to kill the tumor cells while sparing nearby
