Printer Friendly

VERTEX FORMS ALTUS BIOLOGICS SUBSIDIARY AND APPOINTS PETER LANCIANO AS GENERAL MANAGER

 CAMBRIDGE, Mass., Jan. 27 /PRNewswire/ -- Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) today announced the formation of a subsidiary, Altus Biologics Inc. to commercialize its CLECs(tm) Cross- Linked Enzyme Crystal Technology. The new unit will be headed by Peter Lanciano, who has joined Altus as General Manager.
 "CLECs have demonstrated broad potential as biocatalysts in a wide variety of industrial, commercial, and biomedical applications," said Dr. Joshua Boger, president and chief executive officer of Vertex. "Altus provides a business structure that will help us commercialize this promising technology rapidly, while Vertex pursues its core pharmaceutical discovery and development programs." He noted that Altus expected CLECs to be commercialized initially for use in improving the efficiency of industrial processes.
 Dr. Boger added, "We are fortunate to have attracted a senior executive of Peter Lanciano's caliber to take the lead in building a business based on what we believe is breakthrough technology." Prior to joining Altus, Mr. Lanciano co-founded and was a director and president of IG Laboratories, Inc., a leading provider of genetic testing services. Previously, he served as corporate controller for Integrated Genetics and Gene-Trak Systems.
 Although enzymes are among nature's most efficient catalysts, their large-scale commercial use has been limited by their instability and general incompatibility with many solvents. CLECs are a novel form of enzyme crystals developed by Vertex that overcome many of these limitations. Initial studies demonstrating CLECs' potential as a catalyst in the manufacturing of the sweetener, aspartame, were published in September 1992 in the Journal of the American Chemical Society.
 Vertex is a leader in the use of structure-based rational drug design, a scientific approach to drug discovery which uses atomic level information to design synthetic compounds that interact with protein targets involved in disease processes. Vertex is using advanced techniques of biology, chemistry and biophysics to create novel, small molecule compounds that the Company plans to develop as orally deliverable drugs to treat major human diseases. Vertex is concentrating on the development of drugs in the areas of immunology, inflammation and antiviral therapy.
 -0- 1/27/93
 /CONTACT: Stephanie K. Marrus, director of corporate
communications, 617-499-2490; or Robert Gottlieb, Senior Vice


President of Feinstein Partners Inc., 617-577-8110, for Vertex/
 (VRTX)


CO: Vertex Pharmaceuticals ST: Massachusetts IN: MTC SU:

CH-DH -- NE001 -- 9427 01/27/93 08:00 EST
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:Jan 27, 1993
Words:382
Previous Article:CASEY KASEM SIGNS NEW CONTRACT WITH WESTWOOD ONE EXTENDING PACT INTO THE YEAR 2000
Next Article:TJ SYSTEMS ANNOUNCES NEW LEASE AGREEMENTS FOR $4.2 MILLION WITH GENERAL ELECTRIC AND HERTZ CORPORATION
Topics:


Related Articles
DANIEL I.C. WANG, PH.D., JOINS ALTUS SCIENTIFIC ADVISORY BOARD
ALTUS AWARDED $300,000 PHASE II NATIONAL SCIENCE FOUNDATION SBIR GRANT
ALTUS BIOLOGICS IS RECIPIENT OF 33RD ANNUAL R&D 100 AWARD FOR NOVEL CLEC TECHNOLOGY
Dr. Joshua Boger Named Vertex Pharmaceuticals' Chairman of the Board of Directors
Vertex Pharmaceuticals Incorporated Restructures Investment in Altus Biologics Subsidiary.
Vertex Pharmaceuticals Announces New Responsibilities in Integrated Worldwide Research Organization; -- Roger Tung, Ph.D., named Vice President of...
Vertex and Merck Initiate Clinical Study in Hematologic Cancers with Aurora Kinase Inhibitor VX-680.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters