Gary Frashier, president and chief executive officer of OncogeneScience Inc. (NASDAQ:ONCS), has been elected to chair theboard of directors of biotechnology start-up Apollo GeneticsInc.
The company anticipates that Frashier's "broad experience infinancing and partnering in the biopharmaceutical field" willprovide it guidance in these early days, according to KatherineGordon, Apollo's president and chief executive officer.
Gordon, who had been an associate scientific director atGenzyme Corp. (NASDAQ:GENZ), where she initiated thetransgenic expression program that Genzyme just spun off asGenzyme Transgenics Corp., helped found Apollo Genetics in1991.
The Cambridge, Mass., start-up received $120,000 in seedfinancing and just last week raised $610,000 in a privateplacement to individual investors.
Apollo Genetics was formed to develop pharmaceuticals forintervening in neuroendocrine-related aging processes, inparticular, aging of the brain and age-related hormonalmalfunctions.
The company is "interested in several different ways ofintervening in those processes, including hormonal therapies,"Gordon told BioWorld. The initial therapeutic targets includeage-related memory deficiencies. To accomplish this, ApolloGenetics is currently licensing in technologies from severaluniversities. "We're not based around any one technology,"Gordon explained. Jennifer Van Brunt
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