PITTSBURGH--(BUSINESS WIRE)--Lipella Pharmaceuticals Inc. today announced the appointment of David L. Lucchino, co-founder and former Chief Executive Officer of Semprus BioSciences, to the company's Board of Directors. Semprus BioSciences was acquired in May 2012 for $80M.
Mr. Lucchino co-founded Semprus BioSciences with Massachusetts Institute of Technology's Institute Professor, Robert S. Langer, Sc.D., while earning his MBA as an Alfred P. Sloan Fellow. There, he successfully secured $28.5 million in venture financing and $5.4 million federal funding, led his team to obtain FDA approval and CE Mark to market the company's flagship technology and grew the organization from two to 40 employees.
Prior to co-founding Semprus, Mr. Lucchino was a Senior Associate at Polaris Venture Partners, a $3 billion venture capital fund based in Boston. Additionally, Mr. Lucchino co-founded and served as Managing Director of LaunchCyte, an investment firm that specializes in developing biomedical intellectual property. LaunchCyte successfully co-founded six portfolio companies.
"David's industry expertise and insight add a unique dimension to Lipella as we prepare to enter a new phase of growth," said Jonathan Kaufman, President and Chief Executive Officer of Lipella. "We are delighted to welcome him to our board, and look forward to his many contributions."
Mr. Lucchino currently serves on the board of the Massachusetts Biotechnology Council and Multiple Myeloma Research Foundation. He is a Trustee of Mt. Auburn Hospital, a Harvard Medical School facility, where he serves on the hospital's Audit/Compliance and Nomination committees. He also serves on the Audit Committee for CareGroup, the parent organization of Mt. Auburn, Beth Israel Deaconess Medical Center and The New England Baptist Hospital. He most recently completed a 3-year directorship on the board of AdvaMed, the Advanced Medical Technology Association, the national trade association representing the U.S. medical device industry.
About Lipella Pharmaceuticals Inc.
Lipella Pharmaceuticals Inc. is a privately held pharmaceutical company dedicated to the development of experimental therapeutic products that are designed to be delivered directly to the bladder via a urinary catheter. This local delivery option limits the risk of systemic side effects. Lipella's R&D assets include experimental products for interstitial cystitis, overactive bladder and hemorrhagic cystitis. For further company details, visit www.lipella.com
Lipella Pharmaceuticals Inc.
David Chancellor, Director of Marketing, 412-894-1853