BRISBANE, Calif., Feb. 11, 2015 /PRNewswire/ -- Dance Biopharm Inc. (Dance), a privately-held biotechnology company focused on the development of inhaled insulin products to treat diabetes, today announced the appointment of J. Tyler Martin, M.D., to the newly created position of president. Dr. Martin has also been appointed to the board of directors. He brings more than 20 years of experience in the biotechnology industry to Dance, where he oversees company operations, reporting to Dr. John Patton, CEO.
Dr. Martin's most recent corporate position was with Dynavax Technologies, where he joined as chief medical officer in 2009 and then became president in 2010 and a member of the board of directors. He served as president until 2013 when he left to pursue a position as founder and CEO of Great Plains Biotechnology, a strategic advisory group for biotechnology companies and investors. He also serves as a director of Adjuvance Technologies. Prior to Dynavax, Dr. Martin was president of Humabs, and before that he served as vice president of development at Chiron where he led the clinical development of inhaled tobramycin powder, a commercially successful cystic fibrosis therapy, among other products. He has also held senior development and research positions at Sangamo, Valentis, and SyStemix/GTI. All told, Dr. Martin has overseen the development of three products that achieved either FDA and/or EMA approval. Dr. Martin received a B.S. in Chemistry and an M.D. from the University of Nebraska. He completed his fellowship in pediatric infectious diseases and molecular microbiology at Washington University in St. Louis.
"We are very pleased to have Tyler join our team, as he has a depth of drug development experience and corporate leadership to draw from, which will be key as we develop our company's infrastructure ahead of Phase 3 clinical trials for our inhaled insulin product," stated Dr. John Patton, chairman and chief executive officer of Dance.
"I did not plan to return to a full time in-house corporate position so soon, but this opportunity with Dance is one I could not pass up given the characteristics of Dance's inhaled insulin product and the prospect of making an important contribution to the treatment of diabetes," stated Dr. Martin. "I look forward to working with John Patton, a pioneer in the development of inhaled insulin, and the team at Dance to expedite this exciting product through pivotal clinical trials and ultimately to patients."
About Dance 501, a Next-Generation Inhaled Insulin Product
Dance 501 consists of a high purity liquid formulation of recombinant human insulin stored in a dispenser for administration with a small handheld electronic inhaler. The electronic inhaler utilizes a patented vibrating mesh technology, designed to produce consistently sized particles of liquid insulin in the form of a smooth mist, allowing the efficient and consistent delivery of insulin into the lungs in a few comfortable breaths.
Diabetes, A Global Epidemic Affecting an Estimated 382 Million People Worldwide
In its 2013 report, the International Diabetes Federation (IDF), estimated that approximately 382 million people worldwide suffer from diabetes. The IDF further estimated that global health expenditures attributed to the treatment of adult patients with diabetes was $548 billion in 2013. Type 2 diabetes accounts for 85 to 95 percent of all diabetes worldwide. According to the IDF, the number of patients with diabetes is expected to grow to approximately 592 million in less than 25 years. For most patients with diabetes, the disease leads to serious medical complications.
The long-term benefits of mealtime insulin therapy have been consistently demonstrated. Many clinical studies have show that insulin is not only the most effective therapy for controlling blood glucose, but insulin also preserves pancreatic function to reduce disease progression. Although injected insulin is the gold standard for treatment, traditionally it has been the last drug taken by Type 2 patients. The typical patient delays taking mealtime insulin for five to ten years in order to avoid multiple daily injections. Delaying insulin treatment, or refusing to take injections, eventually results in negative health consequences for the patients and enormous costs to health care systems. Now all of the major diabetes medical associations recommend the introduction of insulin earlier in the treatment process for Type 2 patients.
About Dance Biopharm Inc.
Dance Biopharm is a privately-held company based in the San Francisco Bay Area focused on the clinical development of inhaled insulin products to treat diabetes patients worldwide. The company began operations in 2010, founded by Dr. John Patton, who has over 25 years of experience developing inhaled insulin and other inhaled therapies. The Dance team consists of experts in all aspects of inhaled insulin development, and the company is dedicated to creating a new generation of products that will allow inhaled insulin to transform the treatment of diabetes. Additional information about Dance Biopharm can be found at www.dancebiopharm.com.
All statements other than statements of historical fact included in this press release are forward-looking statements that are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such statements. We have based these forward-looking statements upon information available to management as of the date of this release and management's expectations and projections about certain future events. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to our limited operating history, our ability to successfully develop Dance 501, the cost and uncertainty of obtaining regulatory approvals, and changes in the competitive or regulatory landscape.
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