PORTLAND, Ore., Feb. 12, 2008 (PRIME NEWSWIRE) -- Znomics, Inc. (OTCBB:ZNOM), a pioneer in the development of the zebrafish as a vertebrate genetic platform to accelerate drug discovery, announced today that it has retained James Posada, Ph.D., as a business advisor to assist with business development, effective immediately.
Posada's initial mission will be to help with the development of collaborative programs with potential pharmaceutical and biotechnology partners. Additionally, he will oversee technology in-licensing and out-licensing activities for Znomics.
"Jim possesses broad experience across academic science, large pharma, biotech, and start-up environments," said Richard Sessions, chief executive officer of Znomics. "He has demonstrated repeated success in developing commercialization strategies for new technologies, and structuring and negotiating deals."
"I am thrilled to be able to work with Jim," said Roger Cone, chief scientific officer of Znomics. "He has been highly successful in both the pharmaceutical industry while at Eli Lilly, and as a vice president for business development at a small start-up like Glycofi. He understands the value of Znomics' technology and we believe provides Znomics with strategic insight and know-how to help the company optimize its business development strategy."
Posada, 49, brings 20 years of experience in both science and business development to Znomics. Previously he was senior vice president for business and market development at Glycofi, a 60-person start-up company out of Dartmouth University. While at Glycofi, Posada was instrumental in negotiating strategic collaborations with both Merck and Eli Lilly, which ultimately led to Merck's acquisition of Glycofi. Before that Posada served as senior director for business development at Protein Design Labs, manager of a therapeutic protein division at Eli Lilly, and assistant professor of biophysics and molecular biology at the University of Vermont Medical School. Posada earned a bachelor of science degree in biology from Eastern Connecticut State University, a doctor of philosophy degree in molecular and cellular biology from the University of Vermont School of Medicine, and a master of business administration degree from University of Vermont School of Business.
About Znomics
Znomics, Inc. is focused on identifying and developing new pharmaceutical products for treatment of human disorders and diseases. The company's drug discovery platform is based on its catalogued library of mutations in the zebrafish, called the ZeneMark Library. The library, the first in a vertebrate, currently contains more than 11,000 strains of fish representing mutations in more than half of the known genome. Zebrafish share 80% - 90% of the same genes as humans. The company is leveraging this technology for its internal drug discovery efforts as well as establishing collaborative partnerships with pharmaceutical companies and universities. For more information, visit www.znomics.com
Forward-Looking Statements
With the exception of historical information contained in this press release, the matters described herein are forward-looking statements that involve risks and uncertainties. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues or expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, competition, and other economic factors, risks regarding product development, the timing and results of clinical trials, the regulatory approval process, capital requirements, financial condition, patent protection and dependence on third parties for development and licensing arrangements. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission, available online at www.sec.gov. Znomics undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. For more information visit our website at www.znomics.com.