ProFibrix Expands Management Team and Opens US Subsidiary.New COO Brings Financing and Product Development Experience in the US LEIDEN, The Netherlands -- ProFibrix B.V., a Dutch biotech company focused on products to stop bleeding and initiate tissue repair, today announced that it has added Jan Ohrstrom, MD as COO to its Executive Management team. Dr. Ohrstrom was previously part of the Senior Management team that took ZymoGenetics Inc public, and played a key role in bringing Recombinant Human Thrombin thrombin: see blood clotting. to the US market. Dr. Ohrstrom will be based in Seattle, WA, where ProFibrix has established a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . ProFibrix Inc. will facilitate the preparations of a global pivotal Phase II/III trial for the lead product Fibrocaps(TM), to be conducted in 2009/2010. Additionally, the subsidiary will allow ProFibrix significantly greater access to US pool of investors. Dr. Jaap Koopman, Founder and 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. of ProFibrix said: "We are delighted with the decision of Dr. Ohrstrom to join ProFibrix. His extensive expertise in the management of drug development and business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets will be a tremendous asset to ProFibrix as we continue to move our products through clinical development towards commercialization and prepare for the next financing round early next year." Dr. Jan Ohrstrom commented: "Joining the team at ProFibrix was a logical step, I have known the company for a number of years, assessed the Fibrocaps(TM) technology and found it an excellent platform with several product opportunities. Within the field of haemostasis hemostasis, haemostasis the stoppage of bleeding or cessation of the circulation of the blood; stagnation of the blood in a part of the body. Also hemostasia, haemostasia. See also: Blood and Blood Vessels Noun 1. recombinant Fibrinogen Fibrinogen The major clot-forming substrate in the blood plasma of vertebrates. Though fibrinogen represents a small fraction of plasma proteins (normal human plasma has a fibrinogen content of 2–4 mg/ml of a total of 70 mg protein/ml), its conversion could become the next big breakthrough, and ProFibrix is well positioned to bring this novel therapeutic protein successfully to patients. Our office in Seattle will expand the company's reach into additional drug development expertise and at the same time provide easy access to US investors for the follow-up financing of ProFibrix. It's an exciting time for us to open ProFibrix Inc." About ProFibrix ProFibrix is a biotech company that was founded in 2004 and is headquartered in Leiden, The Netherlands. The company aims to create, develop and market new and innovative healthcare products for the haemostasis and regenerative medicine markets. At the heart of all ProFibrix products is human fibrinogen, a matrix protein with unique functional properties that plays an essential role in haemostasis and tissue repair. ProFibrix is currently focussing on its lead product, Fibrocaps(TM), a dry powder Dry Powder A slang term for cash reserves kept on hand to cover future obligations. Notes: For example, if a venture capitalist expects bad times in the IPO markets you might hear him say something like, "we want to keep enough dry powder around to keep funding our topical haemostat Noun 1. haemostat - a surgical instrument that stops bleeding by clamping the blood vessel hemostat surgical instrument - a medical instrument used in surgery , for the treatment of severe haemorrhage. To facilitate the development of several pipeline products ProFibrix has established a recombinant fibrinogen production platform in mammalian cells that is expected to go into scale up and pilot GMP GMP (guanosine monophosphate): see guanine. production in 2009. About Fibrocaps(TM) Fibrocaps(TM) is a unique pre-mixed dry powder formulation of fibrinogen and thrombin, two human proteins that are essential during natural blood clotting blood clotting, process by which the blood coagulates to form solid masses, or clots. In minor injuries, small oval bodies called platelets, or thrombocytes, tend to collect and form plugs in blood vessel openings. . It is being developed as a topical haemostat that stops acute and severe bleeding during surgery and after trauma injury. This new dry powder format has major advantages over existing liquid formulations: It is readily available for use, is more stable and effective, and can be applied to the injury in various ways. The current market for active topical haemostats in surgical applications alone is estimated at [euro] 700 - 800 million per year, and this is expected to grow to ~ [euro]1.3 billion the next 3-4 years. Owing to its unique properties, new markets for Fibrocaps may also be found in emergency settings outside the hospital, such as in ambulances, on battlefields and in the home. |
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