- AntriaBio, Inc., a biopharmaceutical company developing novel therapeutics for the diabetes market, is pleased to announce the acquisition of the significant assets of PR Pharmaceuticals, Inc. and its intention to become a publicly traded company through a merger.
The formulation has been designed to release insulin slowly and uniformly over a period of approximately one week without an adverse initial burst of insulin. The release profile results in a low and sustained insulin level which supplements the effects of endogenous and exogenous insulin and complements the effects of orally administered hypoglycemic agents. AB101 has the potential to be a clearly differentiated product that represents a significant advance in basal insulin delivery.
AntriaBio Appoints Two Industry Leaders to its Management Team
Menlo Park, CA - February 19th, 2013 - AntriaBio, Inc. is pleased to announce the appointment, on January 31, 2013, of two new members to its management team: Nevan Elam, AntriaBio's President and Chief Executive Officer and Sankaram Mantripragada, Ph.D, as AntriaBio's Chief Scientific Officer.
Nevan Elam has spent his entire career starting, managing and advising emerging growth companies in key areas of business including finance, marketing and clinical development. Prior to joining AntriaBio, Mr. Elam served as Chief Executive Officer of AeroSurgical Limited, a medical device company based in Europe. Prior to that, he directed the Pulmonary Business Unit of Nektar Therapeutics, which was sold to Novartis in 2008.
Mr. Elam also serves as a managing director of Konus Advisory Group, Inc. ("Konus"), a boutique healthcare consulting and investment firm that specializes in working with U.S. and European healthcare organizations on business opportunities in Asia, Latin America and the Middle East. Mr. Elam holds a J.D. from Harvard University and Bachelor's degree from Howard University.
Sankaram Mantripragada, Ph.D. brings to AntriaBio his strong understanding of the diabetes market and AntriaBio's unique platform technology. From June 2005 until October 2009, Dr. Mantripragada served as Vice President of R&D at PR Pharmaceuticals, Inc. ("PRP"). In January 2013, AntriaBio purchased substantially all of the PRP assets including significant technology, formulation, manufacturing, and intellectual property assets, which together form the basis of AntriaBio's drug development portfolio.
"Dr. Mantripragada's history with PRP's technology and formulation assets and his deep experience in diabetes products and markets make him a clear choice to lead our product development efforts," said Steve Howe, Chairman of AntriaBio. Mr. Howe served as Chairman and Chief Executive Officer of PRP from its formation in 1998 to 2010.
Dr. Mantripragada has been an advisor to companies specializing in diabetes, cell based therapies and cardiovascular diseases. He is listed as an inventor on more than 8 patents.
Prior to joining PRP, Dr. Mantripragada served as Director of R&D at Guidant Corporation, now part of Abbott Vascular. Prior to that, he served as Director of R&D and VP of Scientific Development at SkyePharma. Prior to that, he was an Assistant Professor of Biochemistry at the University of Virginia School of Medicine. Dr. Mantripragada obtained his Ph.D. in Molecular Biophysics from the Indian Institute of Science and completed a postdoctoral research program at the Max Planck Institute for Biophysical Chemistry in Germany.