AUSTIN, Texas, May 9, 2017 /PRNewswire/ -- BioPact's co-founder, Kent Phelps, has resumed his role as CEO effective immediately. After 20 years of practicing law, Kent launched BioPact in 2014 with co-founder and lead investor Randy Kinsel. BioPact was later established as a joint venture with the inventors of Molecular Rebar®, Kurt Swogger and Dr. Clive Bosnyak.
Under Kent's leadership, BioPact successfully negotiated the initial license and supply agreement with the inventors, created and implemented the 5 year business plan, raised the seed funding, recruited the management and scientific team, built the BioPact/MGMR® brand, fostered relationships with key opinion leaders and top scientists in the nano-drug delivery community, initiated research efforts centered on proving the MGMR® breakthrough as a potential targeted nano-drug delivery technology, and established ongoing meaningful dialogue with potential big pharma partners. After two years as founding CEO, Kent and BioPact's board recruited pharmaceutical industry veteran Joe Dillon, Ph.D., MBA to take over as CEO to bring experience and greater focus to BioPact's business and scientific development activities. Dr. Dillon served as CEO for the last 18 months and Kent resumed CEO duties in May, 2017.
BioPact's Chief Executive Officer, Kent Phelps commented, "The talent, experience and consummate professionalism Joe Dillon brought to BioPact will have a lasting impact on the company's future. I think we will look back on Joe's tenure as the tipping point for BioPact and its drug delivery platform, MGMR®."
BioPact is a medical nanotechnology development company. Our drug delivery platform is a unique composition of matter derived from carbon nanotubes called Medical Grade MOLECULAR REBAR®, or MGMR®. By utilizing MGMR, drug developers can address challenges in many arenas such as; controlled release, targeted delivery, transdermal delivery, toxicity or instability challenges, intracellular delivery, and crossing the blood-brain barrier. MGMR are discrete (individual), safe, free of impurities, open-ended, length controlled, and surface functionalized carbon nanotubes. The unique physical properties of these tubes overcome the limitations of traditional CNT's which are impure, tangled carbon bundles. MGMR can be loaded internally with large and/or small molecules regardless of hydrophobicity and large and/or small molecules can be bonded to the exterior of the tube with multiple surface functionalities to optimize the molecule bond.
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