| TUCSON ,
AZ , May 4, 2005 – ImaRx
Therapeutics, Inc. announced today the appointments
of Randall E. Miller, Ph.D. to the position of
Chief Operating Officer and Greg A. Cobb to the
position of Chief Financial Officer. Dr. Miller
will advance the Company's clinical trials in stroke
and peripheral arterial occlusions, as well as
ImaRx's R&D and out-licensing programs. Mr.
Cobb, who served previously as ImaRx's interim
CFO, will assist ImaRx in pursuing future financing
and business development opportunities.
“Randy has an outstanding record in leadership and
product development in high-growth companies, while
Greg's financial acumen has already proven to be
a great asset to the company. We are delighted to
welcome them to the ImaRx team,” said Evan Unger
, M.D., President and CEO of ImaRx. “Randy
and Greg will be instrumental as we move our lead
nanobubble product, SonoLysis™, through a Phase II
clinical trial in stroke. They will also drive
the Company's products through our R&D pipeline,
build strategic relationships with pharma and biotech
partners, and raise additional funds .”
Dr. Miller brings more than 20 years of healthcare
industry experience from startups to Fortune 500
companies where he managed top-selling therapeutic
and diagnostic products from concept to FDA approval.
Dr.
Miller stated, “ I am pleased to be joining
ImaRx with its broad pipeline of both clinical and
early stage product opportunities. This is an exciting
time at ImaRx with SonoLysis showing so much promise
in the clinic.”
Most
recently as President and CEO of Dermal Systems
International, Dr. Miller secured a successful
first-round financing and significant grant funding,
built the company's analytical research product
development team, and negotiated major license
agreements. Previously, Dr. Miller was Director
of Product Development at Dey, a pharmaceutical
development company with 2004 product revenues
of $450 million, where he led the startup, staffing
and management of the company's R&D program, directed clinical studies, and oversaw
the development and approval of three top-selling
specialty pharmaceutical products. Dr. Miller spent
twelve years with Abbott Laboratories in R&D
and sales and marketing positions where he led the
development of numerous diagnostic and pharmaceutical
products and managed the sales and marketing activities
for a line of antibiotic drugs and out-licensed products.
He earned a Ph.D. in Pharmacology from Vanderbilt
and holds a M.S. and B.A. in Chemistry.
Mr. Cobb co-founded and served as Managing Director
of Catalyst Partners, a boutique merger, acquisition
and business development firm. Previously, he was
the Managing Director of the Arizona Angels Network,
an investment group focused on early-stage technology
companies.
Mr.
Cobb stated, “ImaRx was my first transaction
with the Arizona Angels and one of our most successful
investments. I am extremely excited to reconnect
with the Company when so many great things are happening.”
Mr.
Cobb was an Investment Manager for the Maricopa
Partnerships overseeing an eight-figure diversified
portfolio where he led or co-invested in 14 private-equity,
subordinated debt and PIPE transactions. He
served as a Board member or observer for 5 portfolio
companies and holds an M.B.A. and J.D. from Arizona
State University , and a B.S. in Computer Engineering.
About ImaRx and NanoInvasive ™ Medicine
ImaRx,
a privately-held biopharmaceutical company, develops
NanoInvasive medicine that is less invasive and
potentially painless and safer than minimally invasive
techniques. NanoInvasive medicine is being developed
to treat cardiovascular disease, CNS diseases and
cancers. The Company's lead product, SonoLysis™,
combines the power of ultrasound with proprietary
nanobubbles to locally dissolve blood clots without
the use of invasive surgery or potentially dangerous
lytic drugs. SonoLysis is currently in a Phase
II study for stroke, a Phase I/II study for deep
vein thrombosis, and a Phase I/II study for peripheral
arterial occlusive disease. For more information,
please visit www.imarx.com .
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