Ex-Prometheus Exec Tapped to Lead Gradalis Inc.

Gradalis Appoints Joseph M. Limber President and Chief Executive Officer 

DALLAS, July 23, 2013 /PRNewswire/ -- Gradalis, Inc. today announced the appointment of Joseph M. Limber as president and chief executive officer. Limber, a pharmaceutical veteran, brings more than 30 years of life sciences management experience to the position. In this role, Limber will utilize his vast pharmaceutical business acumen and commercial expertise as the company focuses on developing safe, personalized and effective therapeutics in cancer and other indications.

"Joe's breadth of knowledge and experience with pharmaceutical and diagnostic development and commercialization will be integral to maximizing the potential of Gradalis' broad therapeutic platforms," said David Shanahan, co-founder and chairman of Gradalis. "The company has made tremendous progress to date, and we feel confident that Joe will amplify the value we have created and take Gradalis to our next level of success with the late-stage clinical development and commercialization of FANG, the company's personalized cancer immunotherapy platform, and other technologies in the pipeline."

Prior to joining Gradalis, Mr. Limber served as president, CEO and director of Prometheus Laboratories, Inc. for nearly 10 years. Prometheus is a specialty company focused on developing and commercializing both diagnostics and pharmaceutical products for personalized clinical management of patients in the gastroenterology and oncology therapeutic areas. During his tenure, Prometheus developed and launched several successful diagnostics products, acquired and licensed multiple pharmaceutical products, experienced approximately 30 percent compounded annual growth rate and 30 percent operating margins, with revenue growth from approximately $69 million in 2003 to well over one half billion dollars, culminating in the successful acquisition of Prometheus by Nestle Health Science in July of 2011.

Prior to Prometheus, Limber was president and CEO of Aclara BioSciences, Inc. where he oversaw the development and refinement of key technical and commercial business models, as well as the commercial launch of Aclara's new eTag technologies for the life sciences industry. During his tenure at Aclara, Limber raised approximately $250 million through strategic collaborations, private placements and an initial public offering. Prior to that, Limber served as president and CEO at Praecis Pharmaceuticals, Inc., where he was responsible for building out the company's pharmaceutical infrastructure. Limber also held senior business development, sales and marketing positions with Sequus Pharmaceuticals, Syntex Corporation and Ciba-Geigy Corporation.

"Gradalis is at a very transformational time in the development of its pipeline, and I look forward to working with the team to expand the company's pipeline, drive the clinical development of FANG and prepare for commercialization so we can deliver best-in-class therapeutics to the patients who need them," said Limber. "FANG is showing tremendous promise in Phase II clinical development in multiple cancer indications, and I am hopeful about taking it to the finish line."

About Gradalis, Inc.

Gradalis, Inc. is a privately-held, fully-integrated biotechnology company based in Dallas, Texas that is focused on developing, manufacturing and commercializing drugs, immunotherapies, tools and diagnostics primarily in the area of cancer. The company has two primary platforms: one focused on personalized autologous cancer immunotherapies and the other focused on bifunctional short hairpin RNA delivered via a proprietary lipoplex. Gradalis has its own state of the art GMP manufacturing facility along with high-skilled technical leadership and staff. More information on the Company and its programs can be found at www.gradalisinc.com.

SOURCE Gradalis, Inc.