SOURCE: TheraGenetics

August 16, 2007 07:30 ET

TheraGenetics Appoints Dr. Heiner Dreismann as Chairman of the Board and Mr. Robert Forrester as Director

Molecular Diagnostic Industry Expert and Financial Leader to Guide Company Through Commercialization

LONDON--(Marketwire - August 16, 2007) - TheraGenetics, an emerging personalised-medicine diagnostics company focused on central nervous system (CNS) disorders, today announced the appointments of Heiner Dreismann, Ph.D., as Chairman of the Board and Mr. Robert Forrester as Director. Dr. Dreismann most recently served as President and Chief Executive Officer of Roche Molecular Systems, Inc. (RMS), the division of Hoffmann-La Roche Ltd that pioneered clinical molecular diagnostics. Mr. Robert Forrester serves as Executive Vice President and Chief Financial Officer of CombinatoRx, Incorporated (NASDAQ: CRXX) and was formerly Senior Vice President of Finance and Corporate Development at Coley Pharmaceutical Group (NASDAQ: COLY).

Richard P. Kivel, Chief Executive Officer of TheraGenetics, commented on the appointments, "Dr. Dreismann is counted among the earliest and most influential pioneers in the molecular diagnostics industry. His unparalleled expertise will be essential as we guide TheraGenetics through research, development and commercialization of new pharmacogenetic diagnostic tests for individual therapeutic response prediction in CNS disorders."

Mr. Kivel continued, "Mr. Forrester is a financial leader in the life science space, having raised hundreds of millions of dollars of investment for the companies he has worked with. He brings with him a wealth of life sciences specific, international corporate finance, business development, mergers and acquisitions, and investor relations experience. We are delighted to welcome Dr. Dreismann and Mr. Forrester to our company's Board."

Dr. Dreismann stated, "TheraGenetics' technology offers a fundamental advance in the new era of personalised medicine, for CNS disorders. The days of trial and error-based prescribing are numbered as we continue to expand the use of pharmacogenetics to match the right patient to the right drug, prior to the initiation of therapy. TheraGenetics has a bright future and I am excited to be part of this team."

Mr. Forrester added, "The market opportunity that exists for TheraGenetics is tremendous. I am very excited to be working with Rich and his team as he builds TheraGenetics into a successful company."

Heiner Dreismann, Ph.D. Background

During Dr. Dreismann's tenure at Roche Molecular Systems (RMS), he was responsible for the management of all corporate functions, including research and development, business development, manufacturing, licensing and mergers and acquisitions. Dr. Dreismann also spearheaded global marketing efforts that lead to industry leading revenue growth and international expansion into numerous new therapeutic areas, including women's health, microbiology, oncology and genomics.

Dr. Dreismann received a Ph.D. in microbiology/molecular biology and an M.A. in Biology from Westfaelische Wilhelms University in Muenster, Germany.

Mr. Robert Forrester Background

Mr. Robert Forrester has served as Executive Vice President and Chief Financial Officer of CombinatoRx, Incorporated (NASDAQ: CRXX) since February 2004. CombinatoRx is pioneering a new field of synergistic combination pharmaceuticals and has a broad pipeline in Phase 2 clinical development. Going beyond traditional combinations, CombinatoRx creates product candidates with novel mechanisms of action, striking at the biological complexities of human disease.

Mr. Forrester also established and is responsible for managing CombinatoRx Singapore, a business unit focused on advancing the development of novel therapeutics for infectious disease while also acting as a gateway for CombinatoRx to Asia's scientific and business communities.

Prior to CombinatoRx, Mr. Forrester served as Senior Vice President of Finance and Corporate Development at Coley Pharmaceutical Group (NASDAQ: COLY). From 1994 to 2000, he was a Managing Director of the Proprietary Investment Group at MeesPierson, part of the Fortis Group. Prior to MeesPierson, Mr. Forrester worked for BZW, UBS and Clifford Chance. Mr. Forrester holds an LL.B. from Bristol University.

Mr. Kivel commented, "TheraGenetics' initial therapeutic focus is in schizophrenia with several diagnostic tests designed to identify which patient is most likely to respond to a specific drug and experience the least amount of side effects. We are targeting late 2008 to launch these clinically important tests. TheraGenetics is also developing a suite of personalised-medicine predictive tests for further CNS conditions, including Alzheimer's disease and mood disorders.

About TheraGenetics

TheraGenetics is a privately held, personalised-medicine diagnostics company that is developing and commercializing a portfolio of pharmacogenetic diagnostic tests to guide and improve the treatment of CNS disorders, bringing the right medicine to the right patient. TheraGenetics was created as a spin-out of the Institute of Psychiatry at King's College London. Current investors include Swarraton Partners Ltd., Tudor Ventures, IP Group PLC and Kinetique Biomedical Seed Fund. For more information please visit www.theragenetics.com.

Contact Information

  • Media Contact:

    Tim Allison
    LaVoie Group
    (978) 745-4200 X102
    Email Contact

    Company Contact:

    Richard P Kivel
    CEO
    TheraGenetics, LTD.
    Email Contact