Friday, January 28, 2011 5:06:23 AM
http://www.prolongpharmaceuticals.com/ota.htm
Prolong Pharmaceuticals Leases 24,000-Square-Foot Manufacturing Facility, Adds Facilities Veteran to Executive Team
Dr. Hemant Misra Joins Prolong as VP, Manufacturing and Facilities Operations
SOUTH PLAINFIELD, N.J., Jan. 25, 2011 /PRNewswire/ -- Prolong Pharmaceuticals, which in October secured a $30 million funding commitment from a private investment group, today announced the signing of a long term lease on a manufacturing facility in South Plainfield, New Jersey and the formal addition of Dr. Hemant Misra to the Prolong Executive Management team as Vice President, Manufacturing and Facilities Operations.
The manufacturing facility has been used by Prolong since early 2010, and has already produced clinical batches of Prolong's oxygen transfer agent, SANGUINATE™, sufficient to take the company through the Phase I and II trials expected to begin this year. "Through this agreement we are able to take tens of millions of dollars and years of time off our product development cycle," said Prolong President Glenn Kazo. "We are already producing large scale biological product in a cGMP environment, and now is the right time to secure our longer term manufacturing facilities. Our fortune in teaming with Hemant and acquiring this particular facility at this time in our corporate history is quite remarkable."
A 30-year veteran of the pharmaceutical industry, Dr. Misra will head the process of bringing the new facility to full capacity. Prior to joining Prolong, Dr. Misra managed manufacturing operations, drug development and clinical studies for XTL Biopharmaceuticals as Vice President. His work has also included management roles as the Director of Clinical Drug Development and Corporate Development at Genzyme Transgenics, a subsidiary of Genzyme Corporation. Previously, Hemant held senior level positions at Activecyte, Inc., a Boston Consulting Group Company, at Chemsyn Science Labs and at Andrulis Pharmaceuticals.
Dr. Misra joins a team of industry leaders which has been assembled at Prolong. In addition to CEO and Scientific Founder Dr. Abraham Abuchowski, Prolong has named Glenn Kazo as President, brought aboard Richard Prince as Vice President, Quality, and added Andy Burger as Vice President, Information Services.
About Prolong Pharmaceuticals
Headquartered in South Plainfield, New Jersey, Prolong Pharmaceuticals, LLC is developing biopharmaceutical products targeting the treatment of anemia resulting from an oxygen deficiency. First founded in 2002 as a research company, Prolong is focused on sickle cell anemia, diabetic ischemia, and several trauma indications. The company's senior management team includes inventors of the most successful drug delivery technology in pharmaceutical history, PEGylation, now responsible for more than $30 billion in drug sales worldwide. In October 2010, Prolong secured a $30 million funding commitment from a private investor group. For more information visit: www.prolongpharmaceuticals.com
http://www.prnewswire.com/news-releases/prolong-pharmaceuticals-leases-24000-square-foot-manufacturing-facility-adds-facilities-veteran-to-executive-team-114577619.html
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