PETAH TIKVA, Israel, Dec. 21, 2017 /PRNewswire/ -- PolyPid Ltd., a clinical-stage pharmaceutical company with an initial focus on the prevention and treatment of post-surgical site infections, today announced that Jacob Harel, a seasoned business development executive with more than 30 years of experience in the global pharmaceutical industry, has been appointed as Chairman of the Company's Board of Directors, following his recent election as a director by the Company's shareholders.
Mr. Harel is the founder and president of the Harel Group, a business development Advisory firm supporting international transactions in the global pharmaceutical industry. Prior to founding the Harel Group, Mr. Harel spent more than 27 years at Merck & Co., Inc. in leadership roles in sales, marketing and business development, most recently as Executive Director and Head of Corporate Business Development, leading and overseeing the negotiation and execution of key enterprise transactions, including joint ventures, divestitures, commercial collaborations, and licensing and distribution agreements.
"Jacob has worked in more than 50 countries and negotiated over 100 transactions in various cross-cultural environments," said Amir Weisberg, Chief Executive Officer of PolyPid. "As we advance our D-PLEX into Phase III clinical development, and begin to establish a sales and marketing presence in the United States, having someone with Jacob's experience and expertise as Chairman will be critical in supporting the development of our commercialization strategy. Additionally, Jacob's broad global network of pharmaceutical industry contacts will also be invaluable to PolyPid to support the growth of our business."
"I am pleased to be appointed Chairman of PolyPid's Board at such an exciting time in the Company's development," stated Mr. Harel. "With a Phase III trial anticipated to begin shortly, now is the appropriate time to begin putting into place the appropriate sales and marketing activities. I'm looking forward to working with the other Board members and PolyPid's management team to advance D-PLEX into Phase III and, following regulatory approval, through commercialization."
PolyPid's lead product candidate, D-PLEX™, is a secure antibiotic drug reservoir that is designed to provide local anti-bacterial prevention of infections at the target site and is designed to be administered following surgical procedures. After surgery, the drug reservoir constantly releases the entrapped antibiotic over a predetermined period of time, thus allowing prolonged infection management with increased potential to eradicate antibiotic resistant bacteria.
PolyPid is a clinical stage, biopharmaceutical company focused on developing and commercializing novel, locally administered therapies using its transformational PLEX™ (Polymer-Lipid Encapsulation Matrix) technology, with an initial focus on the management of post-surgical site infections. PLEX™-based products have demonstrated an excellent safety profile during extended clinical trials, with more than 100 patients treated in clinical trials to date.
For additional company information, visit www.polypid.com.
Forward Looking Statements
This press release contains forward-looking statements, including with respect to the clinical development and prospects for commercialization of D-PLEX and PolyPid's other product candidates, and PolyPid's corporate development and establishment of a sales and marketing presence. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including delays or complications in clinical trials and attainment of regulatory approvals. The events and circumstances discussed in such forward-looking statements may not occur, and PolyPid's actual results could differ materially and adversely from those anticipated or implied thereby. Any forward-looking statements speak only as of the date of this press release and are based on information available to PolyPid as of the date of this release.
Dikla Czaczkes Akselbrad
Chief Financial Officer
Bob Yedid, Managing Director
SOURCE PolyPid Ltd.