Lpath Adds Two Key Members to its Executive Team
SAN DIEGO, April 16, 2013 (GLOBE NEWSWIRE) -- Lpath, Inc. (Nasdaq:LPTN), the
industry leader in bioactive lipid-targeted therapeutics, has added two key
members to its leadership team. Dario A. Paggiarino, M.D., has joined the
company as Senior Vice President and Chief Development Officer, and Gary
Woodnutt, Ph.D. has joined Lpath as Senior Vice President of Research.
Dr. Paggiarino brings to Lpath more than 25 years of experience in the
pharmaceutical industry, having directed global development programs in a
number of therapeutic areas including ophthalmology, pain, inflammatory
conditions, and oncology. Most recently, Dr. Paggiarino served as Vice
President and Therapeutic Unit Head for retina diseases at Alcon, a division
of Novartis. He also served as Executive Director of Clinical Development and
Medical Affairs at Pfizer Global R&D with focus on global clinical development
in glaucoma, diabetic and degenerative retinal diseases, and medical
responsibilities for Macugen®. Earlier in his career, he held R&D positions of
increasing responsibility at Angelini Pharmaceuticals, a privately owned
company, ultimately serving as president. Later he joined Pharmacia Global
R&D where he was clinical program director of ophthalmology with
responsibilities for Xalatan®, the leading glaucoma therapy in the world, and
ocular devices such as viscoelastics (Healon®) and intraocular lenses (CeeOn®,
Tecnis®). Dr. Paggiarino earned his degree in Medicine and General Surgery at
the University of Rome La Sapienza and has authored numerous scientific
Dr. Woodnutt brings to Lpath extensive experience in drug discovery and
pharmaceutical research.Prior to joining Lpath, Dr. Woodnutt served as the
Vice President, Open Innovation at Pfizer/CovX, but his primary role at CovX,
from 2006 to 2012, was as Vice President of Biology Research.From 2002 to
2006, Dr. Woodnutt was the Senior Vice President of Pharmaceutical Research
and Development for Diversa Corporation. He began his career in the
pharmaceutical industry with Glaxo SmithKline Pharmaceuticals, where he was
employed for more than 20 years and rose to the position of Vice President and
Head of Biology in the Antimicrobial and Host Defense Group. Dr. Woodnutt
received his Ph.D. in biochemistry/physiology from the University of Reading,
and he, too, has authored numerous scientific articles.
"I am thrilled with the addition of these two key members to our team," said
the company's President and CEO, Scott Pancoast. "Dr. Paggiarino, a seasoned
clinical development expert with over ten years' experience in ophthalmology,
will provide strong leadership in navigating Lpath's drug candidates towards
commercialization. On the discovery and research side, Dr. Woodnutt will be
invaluable in extending our category leadership in lipid-targeted antibodies
as we continue to optimize our drug-discovery platform and add to our pipeline
of novel and promising drug candidates."
Scott Pancoast continued, "The addition of these world-class individuals
rounds out the executive team at Lpath and provides key validation of the
San Diego-based Lpath, Inc., a therapeutic antibody company, is the category
leader in lipid-targeted therapeutics, an emerging field of medicine that
targets bioactive signaling lipids for treating a wide range of human disease.
Lpath's ImmuneY2™ drug-discovery engine has the unique ability to generate
therapeutic antibodies that bind to and inhibit bioactive lipids that
contribute to disease. The company is developing three drug candidates:
iSONEP™ is currently in a Phase 2 trial for wet AMD; ASONEP™ will soon begin a
Phase 2 trial in Renal Cell Carcinoma patients; and Lpathomab is a preclinical
drug candidate that holds promise in pain, neurotrauma, and other diseases.
CONTACT: Lpath, Inc.
Scott R. Pancoast
President & CEO
Lpath Investor Relations
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