Printer Friendly


 NEW YORK, Oct. 21 /PRNewswire/ -- Cadus Pharmaceutical Corporation today announced two strategic appointments in the company's effort to commercialize its core technology. Philip N. Sussman, previously a director at Ciba-Geigy, joins Cadus as vice president of corporate development and Gail H. Laughlin, formerly with Bain and Company, joins Cadus as director of market development.
 "In order to succeed in today's environment, biotech companies must couple important science with professional management as early as possible," said Jeremy Levin, M.D., Ph.D., president and CEO of Cadus. "Mr. Sussman and Ms. Laughlin will help provide the managerial skills and strategic focus that we need."
 Mr. Sussman brings to the company 13 years experience in corporate development. He will direct efforts to commercialize Cadus's drug discovery technology through strategic alliances, joint ventures and acquisitions. Concurrently, Ms. Laughlin will direct product development programs targeted at inflammation and diseases of the cardiovascular and central nervous systems.
 Prior to joining Cadus, Mr. Sussman was director of strategy and business development for Ciba-Geigy Corporation's Pharmaceutical Division, where he was instrumental in the establishment of nine corporate partnerships with bioscience and pharmaceutical companies since 1991.
 Mr. Sussman is a member of the Review Panel for the Innovative Technology Research Grant Program sponsored by the Center for Biotechnology, New York State Science and Technology Foundation. He is also a member of the New York Venture Capital Forum, Inc., a director of the MIT Enterprise Forum of New York, and a director of the New York Chapter of The Planning Forum, Inc. Mr. Sussman earned a master's degree in finance from the Massachusetts Institute of Technology (MIT) School of Management (Sloan School) and received a B.S. in physics from the State University of New York at Stony Brook.
 Ms. Laughlin joins Cadus from Bain and Company, a leading international strategy consulting firm serving Fortune 500 companies. She spent five years advising pharmaceutical, healthcare and other companies on issues ranging from manufacturing practices to market strategy. Among her assignments, she advised management on research and development resource allocation by evaluating the market potential of drugs in development. Ms. Laughlin received her M.B.A. from Harvard Business School and her bachelor of science form Bucknell University.
 Cadus has a proprietary yeast-based drug discovery system that it uses to screen compound libraries for new drugs, specifically drugs which act on G-protein coupled receptors. These receptors represent the largest family of receptors found in human cells and are involved in a wide range of diseases.
 Cadus Pharmaceutical Corporation, founded in 1992, is a privately held biopharmaceutical company based in New York City. In August, the company completed its initial financing of $8 million led by Icahn Holding Corporation, Global Health Sciences Fund, and ImClone Systems, Inc.
 -0- 10/21/93
 /CONTACT: Jeremy M. Levin, M.D., Ph.D., president and CEO of Cadus Pharmaceutical Corporation, 212-645-3738, or Anthony J. Russo, Ph.D., of Noonan/Russo Communications, 212-696-4455/

CO: Cadus Pharmaceutical Corporation ST: New York IN: MTC SU: PER

MP-TW -- NY028 -- 5044 10/21/93 10:00 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 21, 1993

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters