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ImaRx Therapeutics Expands Management Team


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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