MUNICH, Sept. 21, 2015 /PRNewswire/ -- leon-nanodrugs GmbH today announced the appointment of industry veteran Theron (Ted) Odlaug, Ph.D. as the CEO for the leon-nanodrugs GmbH in Munich, Germany, and of its newly formed U.S. subsidiary leon-nanodrugs Inc., with offices in New York City and Chicago, Illinois. Recently, leon-nanodrugs successfully completed a Series A Financing round and announced using the proceeds to expand its profitable service business and to enter into high margin service and co-development deals with pharmaceutical partners.
Dr. Ted Odlaug brings to leon-nanodrugs over 35 years of experience with significant leadership roles in the biopharmaceutical industry. Prior to this tenure he resumed responsibility as Executive Chairman of Cedarburg Pharmaceuticals until the company was sold to Albany Molecular Research Inc. in 2014. From 2011 Ted was the Executive Chairman and CEO of Planet Biopharmaceuticals until the company was sold to Ares Life Sciences in 2014. From 2008 until 2011, he was President and CEO of CyDex Pharmaceuticals, Inc. at which time the company was sold to Ligand Pharmaceuticals, Inc. Prior to CyDex, Dr. Odlaug served as Managing Partner of EIR Healthcare Advisors, LLC. Prior to that, he was Executive Vice President and a member of the senior management committee at Fujisawa Healthcare Inc. until its merger with Yamanouchi in 2005, which resulted in the formation of Astellas Pharma. He left Astellas in 2006 after successfully supporting the U.S. post-merger integration process. Ted holds Bachelor's and Master's degrees from the University of Missouri at Kansas City and a Ph.D. in Public Health from the University of Minnesota.
Dr. Wolfgang Beier, Chief Scientific Officer and Co-Founder of leon-nanodrugs said: "The establishment of the U.S. operations will expand our pharmaceutical cooperation to one of the most important markets for our business. Based on Ted's decades-long experience and expertise in the international pharma market we are convinced that he will help create a significant success for our US business."
Dr. Hubert Birner, Chairman of the Supervisory Board and Managing Partner of TVM Capital added: "We are delighted to have won such an experienced executive to lead leon-nanodrugs into its next growth phase and to help further expand our footprint in the international pharmaceutical market. Our vision is to be recognized as a global leader in nanotechnology formulated pharmaceuticals through contract services and co-development partnerships, respected for quality, reliability and development performance by partners, employees and investors. I would also like to thank Cornelia Beier, for the invaluable contributions she has made for leon-nanodrugs as the co-founding CEO. She will continue to support the company as Chief Corporate Officer and will be appointed to the Supervisory Board as the leon founder representative".
At the same time, leon-nanodrugs announced the appointment of Anne Burger as Finance Director, effective immediately. Anne Burger is Managing Director at MedVenture GmbH, a Munich-based corporate finance and strategic advisory company focusing on the life sciences and health care industry. Anne Burger has been responsible for numerous projects in the field of private placements, financial modeling and M&A. She has worked for companies across many segments in Life Sciences and Health Care Services industries. She holds a graduate degree in business administration from the Ludwig Maximilian-Universität in Munich, with Honors and has completed graduate studies in public health.
leon-nanodrugs was founded by a group of experienced drug development professionals in mid-2011. The company focuses on the reformulation of approved or promising small molecule and protein drug candidates based on its patented and award winning MJR-nanotechnology-platform. leon-nanodrugs develops novel oral and parenteral formulations by using GMP (Good Manufacturing Practice) compliant nanotechnology to improve bioavailability, solubility as well as dissolution rates.
Note for the editor:
leon-nanodrugs GmbH, headquartered in Munich, is a nanotechnology-based drug development company focused on reformulations and reinventions of drugs on a contract or co-development basis. Based on its "network of expertise", leon-nanodrugs can provide a 360 degree service range from concept to product approval. The core business is the reformulations to develop novel oral and parenteral formulations and innovative drug combinations, which have not been possible in the past due to low bioavailability caused by low solubility of APIs. The 2014 CPhI Pharma Awards for Best Innovation in Formulation was won by MJR PharmJet GmbH, leon nanodrugs' exclusive reformulation service partner for its patented nanotechnology. For more information please visit www.leon-nanodrugs.com.
Cornelia Beier, CCO
Theon E. Odlaug, CEO
leon-nanodrugs GmbH - leon-nanodrugs Inc.