Norcross, GA – AerovectRx Corporation, an aerosol drug delivery and therapeutics company, announced the appointment of Ed Cannon, Ph.D. as Chief Executive Officer. Dr. Cannon’s initial objectives will be to engage additional corporate partners for AerovectRx’ AeroCell™ drug delivery technology, to advance the company’s initial therapeutic development program to human
clinical trials and to complete a Series A financing.
“Ed’s decision to join AerovectRx is recognition of the value of the company’s aerosol drug delivery technology platform,” said P. Kathleen Lovell, Chairman of the Board for AerovectRx. “We
are pleased to have attracted an individual with his record of commercial successes to lead the company in exploiting this innovative drug delivery technology.”
“Ed’s wealth of experience, scientific credentials and business acumen will be of considerable benefit as we meet the challenges and opportunities of commercializing our AeroCell™ technology and advancing our therapeutics program,” said Matthew H. J. Kim, J.D., founder and Vice President Licensing and Business Development of AerovectRx.
“The AeroCell™ represents a substantial improvement for delivery of complex biological therapeutics and vaccines to the respiratory tract, and will greatly facilitate development of new diseasemodifying therapies for respiratory diseases,” said Dr. Cannon. “I am very pleased to join Matthew and the AerovectRx team and look forward to working with them to move this important technology into the marketplace.”
Dr. Cannon has previously been President, CEO and a director of small molecule biopharmaceutical companies AdipoGenix and Elixir Pharmaceuticals, a founder, director, and PresidentTherapeutics Division, of Dyax Corp., a public biotherapeutics company, and founder, director and CSO of Hygeia Sciences, the leading developer worldwide of monoclonal antibody based home diagnostic products. He earned his doctorate in biochemistry at the University of Georgia, trained in molecular immunology at Harvard Medical School and has held faculty positions at Brandeis University and University of Massachusetts Medical School.

AerovectRx is a spin out from the Center for Disease Control (“CDC”). The company’s AeroCell™ products are based on patented technology exclusively licensed from the CDC and utilize
state of art vibrating microporous mesh technology integrated with a unit dose medication cartridge as a disposable consumable
to reliably and efficiently deliver complex biologics and vaccines as well as small molecule drugs to the respiratory tract. These features eliminate maintenance, reduce risk of reinfection,
and improve dosage control.
Pulmonary, or inhaled, delivery of therapeutics and vaccines is optimal for treating and/or preventing respiratory diseases. Additionally, inhaled delivery will be preferred in certain
nonrespiratory diseases as an alternative to injection, to achieve rapid onset of activity or to avoid GI side effects and/or GI and first pass hepatic metabolism. The annual market for inhaled drug delivery is currently estimated at $20 billion.

http://www.aerovectrx.com/news/Aerovectrx_CEO_Oct_31_2007.pdf

Atlanta, GA – Southeast BIO (SEBIO), a regional nonprofit organization dedicated to fostering the growth of the Southeast’s life sciences industry, announced today the selection of four finalists in its first annual BIO/Plan Competition. The final four competitors are: CureFAKtor, Inc. (University of Florida); Triptor Pharmaceuticals (Emory University); SpherIngenics, Inc. (Georgia Institute of Technology); and Oncoscope, Inc. (Duke University). (more…)

Atlanta, GA – Southeast BIO (SEBIO) today announced the keynote speakers and featured panelists for the Ninth Annual Southeastern BIO Investor Forum. The Forum, scheduled for November 7-8, 2007 at the Pinehurst Resort in Pinehurst, NC, will feature remarks from more than 14 industry leaders. (more…)

DURHAM, NC—Phase Bioscience Inc., a company developing protein purification technology, has raised an additional $5.4 million in its Series B financing, bringing the total to $6.6 million. Fletcher Spaght Ventures co-led the round with Johnson & Johnson Development Corp. (more…)

Wilmington, N.C. – TranS1 Inc. (Nasdaq: TSON) today announced the initial public offering of 5,500,000 shares of common stock at a price of $15.00 per share. TranS1 has granted the underwriters an option to purchase up to an additional 825,000 shares at the initial public offering price to cover over-allotments, if any. The common stock will trade on the NASDAQ Global Market under the symbol “TSON.” (more…)

By Allan Maurer, Tech Journal South

HERNDON, VA—Virginia decided to take a pro-active approach to filling the seed-stage capital gap that keeps many promising new tech ventures from launching. In late 2003, the state created the CIT Gap funds, which has already helped 19 startups in Virginia crank their engines.
This year in July, the Virginia Center for Innovative Technology’s Growth Acceleration Program (GAP) launched the BioLife Fund, with an initial investment of $250,000 from Johnson & Johnson, a sum GAP matched. (more…)

Atlanta, GA, October 16, 2007 – Metastatix, Inc., an emerging pharmaceutical company focused on the development of small molecule therapeutics, announced today the appointment Carol G.
Gallagher, Pharm. D. as President and Chief Executive Officer. Having recently closed a $35 million series B round, Dr. Gallagher will lead the company as it conducts clinical trials of its lead
candidate, MSX-122, in cancer patients and as it advances development programs in inflammation and HIV infection. (more…)

East Norriton, PA (October 15, 2007) – Tengion, Inc., a leader in regenerative medicine, announced today that it has closed a $33 million Series C financing, including participation from new investor, Deerfield Partners. Proceeds from this financing will be used to advance the late-stage clinical development of the Tengion Neo-Bladder Augment™, currently being evaluated in two Phase 2 trials, as well as to accelerate expansion of Tengion’s novel regenerative medicine platform into the development of other autologous organs and tissues in the genitourinary and cardiovascular systems. (more…)

Atlanta, GA– Metastatix, Inc., an emerging pharmaceutical company focused on the development of small molecule therapeutics, announced today it has secured $35 million
in Series B financing. The new round of funding primarily will be used to conduct clinical trials of the company’s lead candidate, MSX-122, in cancer patients and to advance the company’s
development programs in inflammation and HIV infection. (more…)

Cary, NC—Cyclacel Phamaceuticals Inc. (CYCC.O) is acquiring all of the assets of Cary, NC-based Align Pharmaceuticals for from $3.3 to $3.8 million in cash. (more…)