Panmira Announces Appointment of New CEO

Oct 17, 2011, 11:00 ET from Panmira Pharmaceuticals, LLC

SAN DIEGO, Oct. 17, 2011 /PRNewswire/ -- Panmira Pharmaceuticals, LLC, today announced the appointment of Hari Kumar, PhD, as chief executive officer. Until recently, Dr. Kumar served as chief business officer of Amira Pharmaceuticals Inc. and led the transaction with Bristol-Myers Squibb Inc. for the sale of Amira's fibrosis program.

Dr. Kumar and his team will oversee efforts on Panmira's inflammation portfolio, which features a best-in-class CRTH2 program. The lead candidate, AM211, represents one of the most promising compounds in the field, having demonstrated 100 percent functional inhibition of eosinophils over 24 hours following oral, once-daily dosing in phase I studies. CRTH2 antagonists show promise for several diseases including eosinophilic esophagitis, eosinophilic asthma, COPD, and atopic dermatitis, and represent a new class of therapy for these under-served markets.

About Panmira

Founded in 2011 and headquartered in San Diego, Panmira is a small molecule pharmaceutical company focused on novel therapies for inflammatory diseases. Panmira was spun out of Amira Pharmaceuticals prior to Amira's acquisition by Bristol-Myers Squibb. Investors include Dr. Brad Bolzon (Versant Ventures), Mr. Kevin Kinsella (Avalon Ventures), Dr. David Schnell (Prospect Venture Partners) and Dr. Heath Lukatch (Novo A/S).

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SOURCE Panmira Pharmaceuticals, LLC