Cumbre Inc. Announces Major Financing.Business Editors & Health/Medical Writers BIOWIRE2K DALLAS--(BW HealthWire)--Sept. 20, 2001 Dallas biotech firm lures hi-tech veteran as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Cumbre Inc., a new Dallas-based biopharmaceutical company, announced today the completion of a $26 million private placement. Focused on antibiotic and antifungal drug An antifungal drug is medication used to treat fungal infections such as athlete's foot, ringworm, candidiasis (thrush), serious systemic infections such as cryptococcal meningitis, and others. Such drugs are usually obtained by a doctor's prescription or purchased over-the-counter. discovery, the company was spun off from Tularik Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TLRK) in February 2001 and is supported in this second round financing by Pharma Vision AG of Switzerland and Vulcan Inc. of Seattle, Washington  This page is protected from moves until disputes have been resolved on the .The reason for its protection is listed on the protection policy page. . Cumbre plans to develop state-of-the-art capabilities in chemistry, biology and drug screening technology. In addition, Cumbre will continue collaborations with the University of Texas Southwestern Medical Center (UTSWMC UTSWMC University of Texas South West Medical Center - Fort Worth ) and Tularik. Its scientific platform combines a proteomics-based drug discovery technology with target-directed screens and an advanced lead compound series contributed by Tularik. UTSWMC and Tularik will be stockholders in Cumbre, and the company will soon expand operations in a newly outfitted facility close to UTSWMC. Originally known as Tularik Texas, the company recently renamed itself Cumbre, the Spanish word for summit. "Our new name signifies our ambitious goals as a company, and acknowledges the southwestern spirit that we hope to harness," said Dr. Simon Lynch Simon Lynch may refer to:
Separately, the company announced the appointment of Bob England, a former electronics industry executive, as President and CEO. Bob recently retired from Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. Inc. in Dallas after a 27-year career in engineering and business management. "The challenge of building a biotech presence in Dallas is motivating," Bob said, "and I hope to be able to bring a unique perspective on hi-tech business management to Cumbre." About Pharma Vision Pharma Vision AG is a Swiss investment company devoted to the health care industry. Listed on the Swiss Stock Exchange, the company invests in a select number of quality companies where it strives to make a contribution as a professional shareholder. About Vulcan Inc. Vulcan Inc. was founded by Paul G. Allen in 1986 to manage his personal and professional endeavors, including various investments, more than 100 portfolio companies, the six Paul G. Allen Foundations, First & Goal Inc., the Experience Music Project museum, Clear Blue Sky Productions and others. Vulcan is headquartered in Seattle, Washington. About Tularik Tularik is engaged in the discovery and development of a broad range of novel and superior orally available drugs that act through the regulation of gene expression Gene modulation redirects here. For information on therapeutic regulation of gene expression, see therapeutic gene modulation.
. . Tularik programs address cancer, viral diseases viral diseases Diseases caused by viruses. Long-term immunity usually follows viral childhood diseases (see chickenpox). The common cold recurs into adulthood because many different viruses cause its symptoms, and immunity against one does not protect against others. , inflammation, immune disorders, lipid disorders, diabetes and obesity. Tularik has established strategic partnerships with Japan Tobacco Inc and Roche Bioscience. About Cumbre Cumbre is a Dallas-based biopharmaceutical company focused on discovery, development and commercialization of new classes of antibacterial antibacterial /an·ti·bac·te·ri·al/ (-bak-ter´e-al) destroying or suppressing growth or reproduction of bacteria; also, an agent that does this. an·ti·bac·te·ri·al adj. and antifungal drugs. This press release contains "forward-looking" statements. For this purpose, any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," "intend" and similar expressions are intended to identify forward-looking statements. |
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