Oligomerix Announces Key Organizational Changes as Part of the Transition to a Clinically Focused Company
WHITE PLAINS, NY–(BUSINESS WIRE)–Oligomerix, Inc., a private company pioneering the development of tau-targeting small molecule therapeutics for rare neurodegenerative diseases and Alzheimer’s disease, today announced several organizational changes reflecting the transition to a stage-stage pharmaceutical company. clinical.
Oligomerix will now operate as two separate business units: 1) Discovery Group and 2) Development Group, which will include both clinical and commercial development activities. As part of this reorganization, William Erhardt, MD, formerly Chief Medical Officer of Oligomerix, will become President, Head of Development and Operations.
Dr. Erhardt’s primary focus will be to lead the organization in the clinic and take on all the duties and responsibilities of this task for the entire organization. Dr. Moe will remain Chief Executive Officer and will assume the new responsibility of leading the Discovery Group as Head of Research and Strategy, and working in conjunction with Eliot Davidowitz, Ph.D., Chief Scientific Officer of Oligomerix. In addition, Robert Foerster, Chief Financial Officer, assumes the additional role of Chief Operating Officer in recognition of his very significant contributions to Oligomerix.
“Oligomerix continues to make significant progress with our oral small molecule tau self-association inhibitor, and this revamp is an important step toward clinical testing,” said Dr. Moe. “We are extremely fortunate to have Bill’s many years of pharmaceutical and clinical experience leading programs like ours successfully in and through development. In the additional role of COO, Bob Foerster’s biopharmaceutical and financial experience will ensure that our operational strategies stay on track as we begin first-in-human studies later this year.
With over 20 years of executive leadership experience in the biopharmaceutical industry, Dr. Erhardt joined Oligomerix last year as Chief Medical Officer. Prior to joining Oligomerix, he was Senior Vice President, Head of Clinical Development and Operations at Pfizer, Inc., responsible for Pfizer’s clinical development operations globally, and leading a team of more than 25,000 Pfizer researchers. During his long tenure at Pfizer, Bill was responsible for overseeing multiple clinical development and medical affairs units across multiple therapeutic areas, including Pfizer’s Phase I units.
“I am very pleased to assume the role of President, Head of Development and Operations of Oligomerix as we transition from discovery research to a clinically focused biopharmaceutical company. There is a critical unmet need for innovative approaches to treat Alzheimer’s disease and other rare neurodegenerative disorders, and I believe our pioneering therapy can have a significant impact in this area,” said Dr. Erhardt.
Mr. Foerster is a seasoned pharmaceutical executive with experience in many financial, therapeutic and functional areas during his 28 years at Pfizer. His roles included that of Senior Director
Business Development for Emerging Markets, Senior Business Development Manager – Japan, where he was responsible for the entire development portfolio, numerous business alliances, strategic planning and was a member of the management team. He was Director/Team Leader – Neuroscience for New Product Development and Director of Financial Operations for the Africa Middle East region. Mr. Foerster holds a BA in Economics from Dartmouth and an MBA in Finance from Rutgers.
In June, Oligomerix announced a $2.7 million Series B expansion raise to support Phase 1 clinical development.
About the Oligomerix Lead Program
Oligomerix’s lead clinical candidate is an oral small molecule tau self-association inhibitor that targets the onset of the tau aggregation cascade, a process thought to be important in the development of Alzheimer’s disease and other neurodegenerative disorders. The lead candidate has demonstrated efficacy in animal models of tau-mediated neurodegeneration. Preclinical safety studies have been completed and phase 1a clinical studies are expected to begin this year.
About Oligomerix, Inc.
Oligomerix is an emerging clinical-stage biotechnology company focused on the development of disease-modifying therapies for neurodegenerative diseases characterized by aberrant tau protein ranging from rare tauopathies such as progressive supranuclear palsy and frontotemporal dementia to Alzheimer’s disease. Alzheimer’s.
Oligomerix discovers and develops differentiated, oral, small molecule inhibitors of tau self-association that are easy to administer and cost effective. Oligomerix’s portfolio of compounds is expected to provide a potentially lower cost treatment alternative and/or complement to new emerging high cost therapeutic options such as monoclonal antibody products.
Oligomerix is headquartered at Westchester Park Center in White Plains, New York and has laboratory facilities at the Ullmann Research Center for Health Sciences within the Albert Einstein College of Medicine. Follow Oligomerix on Twitter and LinkedIn.
Oligomerix is seeking strategic partners and investors to support the acceleration and advancement of these important programs. For more information about Oligomerix, please visit our new website at https://oligomerix.com/.