–Addition of Experienced Executive to Leadership Team–
Newtown, PA: April 3, 2019. Palladio Biosciences, Inc. (Palladio) https://palladiobio.com/, a private biopharmaceutical company founded to develop medicines that make a meaningful impact on the lives of patients with orphan diseases of the kidney, announced today the appointment of Sanford Zweifach as the Company’s first Chairman of the Board of Directors.
Mr. Zweifach brings to Palladio over 25 years’ experience in senior executive roles in the life sciences industry, with a focus in corporate partnering, business development, operations, private and public investing, and capital raising. He is the Co-Founder and Chief Executive Officer of Nuvelution Pharma, Inc. Previously, Mr. Zweifach was the Co-founder and CEO of Ascendancy Healthcare, Inc. He has also been a Partner at Reedland Capital Partners, CEO of Pathways Diagnostics, Managing Director and CFO of Bay City Capital, and President and CFO of Epoch Biosciences, which was acquired by Nanogen. He currently serves as the Chair of IMIDomics SL and Non-Executive Board Member of Compugen, Inc. (NASDAQ: CGEN) and Realm Therapeutics, Inc. He received his BA in Biology from UC San Diego and an MS in Human Physiology from UC Davis.
“I am very excited to welcome Sandy as the new Chairman of our Board of Directors. He brings an exceptional combination of operational, financing and deal experience to Palladio Biosciences,” said Lorenzo Pellegrini, Ph.D., President and Chief Executive Officer of Palladio. “His leadership and unique combination of skills will be incredibly valuable resources as we continue to build Palladio Biosciences into a leading drug development company dedicated to renal orphan diseases.”
“I look forward to working together with Lorenzo and the entire Board of Palladio,” added Mr. Zweifach. “Palladio’s lixivaptan has enormous potential to address the large unmet medical needs of patients with orphan diseases of the kidney, and I am delighted to assist in bringing together the necessary elements to further develop the opportunity.”
About Palladio Biosciences, Inc.:
Palladio Biosciences is a privately-owned, clinical stage biopharmaceutical company developing medicines for orphan diseases of the kidney and is located near Philadelphia, PA. Palladio is initially developing its lead drug, lixivaptan, for Polycystic Kidney Disease (PKD), an orphan kidney disease for which there are limited treatment options. For more information, please visit www.palladiobio.com.
Lixivaptan is a potent, selective vasopressin V2 receptor antagonist, a mechanism of action that has clinical proof of concept to slow kidney function decline in adults at risk of rapidly progressing Autosomal Dominant PKD (ADPKD). Lixivaptan received orphan designation by FDA for the treatment of ADPKD and is currently being tested in the ELiSA study, a Phase 2 clinical trial in patients with ADPKD. It was previously administered to more than 1,600 subjects across 36 clinical studies as part of a prior clinical development program for the treatment of hyponatremia. Palladio expects to leverage lixivaptan’s large body of data generated in the hyponatremia clinical program to accelerate the development of lixivaptan for the treatment of ADPKD.
About Polycystic Kidney Disease (PKD) – Key Facts and Figures:
PKD is an inherited genetic disease that affects more than 140,000 people in the United States and millions globally. ADPKD is the most common type of PKD. A person with ADPKD has a 50 percent chance of passing the disease on to each of his or her children. The disease is characterized by uncontrolled growth of fluid-filled cysts in the kidney, which can each grow to be as large as a football. Symptoms often include kidney infections and chronic pain. The continued enlargement of cysts and replacement of normal kidney tissue causes irreversible loss of renal function. In the United States, approximately 2,500 new people with PKD require dialysis or a kidney transplant every year, making PKD the 4th leading cause of kidney failure. There is no cure for PKD.
Please note that lixivaptan is for investigational use only.