NEWS & EVENTS
PRESS RELEASES 2004
ELUSYS THERAPEUTICS ANNOUNCES REORGANIZATION
Dr. Elizabeth Posillico Promoted to Head Operations
Pine Brook, NJ – (July 23, 2004) – Elusys Therapeutics, Inc., announced today that Elizabeth Posillico, PhD, has been promoted to senior vice president of operations as part of a major reorganization at the company. The reorganization will facilitate the management of projects from the preclinical through the manufacturing stages. Dr. Posillico’s new position was created as part of the reorganization; she had previously been vice president of new business development at Elusys.
“Elusys is transitioning from a research company to one that is developing products for specific markets and needs,” said Stephen G. Sudovar, president and CEO of Elusys. “As such, we are integrating our systems to manage projects through the various stages more efficiently and effectively. In her two years at Elusys, Elizabeth Posillico has demonstrated leadership and focus that will be an asset as we advance to this next stage.”
A number of departments and functions will now be united under the operations umbrella and report to Dr. Posillico, including: preclinical research; product development; manufacturing; regulatory affairs; clinical development, and project management.
“As Elusys evolves into a product-oriented company, we need to start prioritizing our projects and making decisions about the use of resources,” commented Dr. Posillico. “The new structure at Elusys will put all the elements of project development into one area and improve the movement of products from the portfolio to the marketplace.”
Elizabeth Posillico, Ph.D.
Dr. Posillico has more than 20 years of experience working in biotechnology companies. Her experience spans product management, product development, marketing and manufacturing with a particular focus on business development. Before joining Elusys, Dr. Posillico was executive director of business development and marketing for Physiome Sciences in Princeton, NJ, where she was responsible for establishing and implementing commercialization and marketing activities for the company’s biosimulation technology. Earlier, she was senior vice president of business development at Apoptogen, Inc., (now Aegera Therapeutics) in Ontario, Canada, as well as president and co-founder of Sage Biomedical, Inc., in Ontario, which assisted early stage companies in identifying and securing corporate partners. Dr. Posillico spent nearly a decade at Genzyme Corporation, in Cambridge, MA, in management positions of increasing responsibility, most recently as a senior vice president in the diagnostics division.
About Elusys
Elusys develops antibody-based therapies using proprietary technologies in Heteropolymer antibody chemistry and complement biology. The Company’s pipeline of products includes treatments for cancer, lupus nephritis, infectious diseases and thrombosis. The Company has successfully advanced three products to the IND and Phase I stage, with additional products in its pipeline. Founded in 1998, Elusys is headquartered in Pine Brook, NJ. Additional information about Elusys can be found at www.elusys.com.