Molecular Insight Pharmaceuticals Appoints Two New Vice Presidents, James Wachholz and Joshua Hamermesh
New positions will support late stage development and commercialization of lead product
Cambridge, MA, June 1, 2005 – Molecular Insight Pharmaceuticals, Inc. today announced the appointments of James Wachholz as Vice President, Regulatory Affairs and Quality Assurance and Joshua Hamermesh as Vice President, Commercial and Business Development. Mr. Wachholz brings over 20 years of experience and a strong track record in regulatory affairs and product development at biotechnology and pharmaceutical companies including Sepracor, Searle Pharmaceuticals, and Baxter International. Most recently he served as Chief Regulatory Officer of Accentia Biopharmaceuticals. Mr. Hamermesh joins Molecular Insight from Genzyme Corporation, where was Business Director, Cardiac Cell Therapy and Chief Operating Officer of the company’s MG Biotherapeutics unit.
"Jim and Josh are outstanding individuals who will play key roles at the company as we advance towards pivotal Phase III trials with BMIPP, accelerate planning for its commercialization, and prepare for initial human studies with our second lead candidate, MIP-120T," said David Barlow, Chairman and CEO of Molecular Insight. "The creation of these new positions and recruitment of such talented executives reflect our meaningful progress towards becoming a fully integrated discovery, development and marketing organization."
Molecular Insight is developing BMIPP, a molecular imaging pharmaceutical, for the detection of cardiac ischemia, initially for use in triaging emergency room patients with suspected acute coronary syndrome. A Phase 2b clinical trial was completed recently, with a Phase 3 program anticipated beginning around year-end. MIP-120T is in late preclinical development for the treatment of neuroendocrine tumors.
Mr. Wachholz has extensive IND and NDA experience, from pre-IND development through Phase 4. During his career, he has had overall responsibility for over 20 INDs and 7 NDAs, including Sepracor’s Xopenex® (levalbuterol) and Lunesta™ (eszopiclone). He joined Accentia in 2003 after five years at Sepracor, where he was most recently Executive Director of Regulatory Affairs. Previously, Mr. Wachholz held regulatory and compliance positions at Hybridon, Inc., Searle Pharmaceuticals and Baxter International. He holds a B.S. degree in biochemistry from Northwestern University and an MBA from DePaul University.
Mr. Hamermesh joined Genzyme in 1999 and held several cardiovascular product marketing and business development positions, including Director, Cardiovascular Business Development and Marketing Manager, Genzyme Surgical Products. Previously, he was a strategy consultant at Monitor company. He earned a B.A. degree (magna cum laude) from Amherst College and an MBA from Harvard Business School.
About Molecular Insight Pharmaceuticals, Inc.
Molecular Insight Pharmaceuticals is developing and commercializing innovative molecular imaging pharmaceuticals and targeted radiotherapeutics to diagnose and treat disease. The company’s lead product candidate, BMIPP, has completed Phase 2 clinical development for use in triaging emergency room patients with suspected acute coronary syndrome, a situation that results in over six million emergency room visits annually in the United States. Molecular Insight Pharmaceuticals also has a radiotherapeutic to treat neuroendocrine tumors in late preclinical development and molecular imaging programs in cardiology, neurology, and oncology. The company’s pipeline leverages proprietary technologies for targeting, visualizing, treating, and monitoring disease. The company is based in Cambridge, Massachusetts. The company’s website is: www.molecularinsight.com.
Contact:
Priscilla Harlan
Vice President, Corporate Communications
Molecular Insight Pharmaceuticals, Inc.
(617) 492-5554