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PhaseBio Announces Expansion of Leadership Team

  • Clay Thorp named Executive Chairman of the board
  • Jonathan P. Mow becomes Chief Executive Officer
  • Dr. James Ballance appointed Vice President, Research and Scientific Affairs

MALVERN, Pa., March 3, 2015 (GLOBE NEWSWIRE) -- PhaseBio Pharmaceuticals, Inc., a leading company in the field of biopolymer-based drugs and focused on developing treatments for metabolic and specialty cardiopulmonary disorders, today announced the expansion of its leadership team. Clay Thorp, general partner at Hatteras Venture Partners, has been named Executive Chairman of the board of directors, Jonathan P. Mow has assumed the role of Chief Executive Officer, and James Ballance, Ph.D., has been appointed Vice President, Research and Scientific Affairs.

"PhaseBio is positioned for growth, and the strengthening of our leadership team enables the company to leverage our proprietary discovery platform technology in multiple therapeutic areas, including metabolic and orphan diseases," said Mr. Thorp. "I am pleased to work with Jonathan, Jim and the rest of the PhaseBio team in this new capacity to advance the pipeline and realize the full potential of this novel technology."

Mr. Thorp is a general partner with Hatteras Venture Partners and brings many years of experience in starting and building biotechnology companies. As a member of the founding team for Synthematix, a research informatics company, Xanthon, a genomic biosensor company and Novalon, a drug discovery company, Mr. Thorp has been involved in establishing early strategic direction, raising capital and structuring licensing deals. Mr. Thorp is a co-founder and former Chairman of PhaseBio.

"Our research and development-focused management team, committed investor base and validated discovery platform have laid a strong foundation for PhaseBio," said Mr. Mow. "I am thrilled to work alongside this accomplished leadership team to bring important therapies to patients suffering from rare diseases."

Mr. Mow is a life sciences executive with more than 25 years of experience in biotech management. He previously served as Chief Business Officer of PhaseBio. Prior to PhaseBio, Mr. Mow ran Amylin Pharmaceuticals' business development unit, culminating with the company's sale to Bristol-Myers Squibb in 2012. Prior to Amylin, Mr. Mow co-founded and managed Corus Pharma until its sale to Gilead in 2006. Earlier in his career, Mr. Mow held various roles in business development, marketing and sales with PathoGenesis Corporation, Bristol-Myers Squibb, Wyeth Pharmaceuticals, Lederle Laboratories International and Syntex Laboratories.

"Having previously played a central role in the development of albumin and transferrin fusion proteins, I am particularly intrigued by the power of PhaseBio's Elastin-Like Polypeptides platform to control uptake from the injection site and prolong circulatory half-life," said Dr. Ballance. "PhaseBio's technology has the potential to make a meaningful difference in a variety of serious diseases."

Dr. Ballance has more than 25 years of experience in the biotech industry, within both small biotech and large pharma, specializing in early stage research, product development, cGMP manufacturing, technology transfer and the management of intellectual property. He has led the development of drug products from conception to manufacturing, and has expertise in business development interactions with large pharma and biotech companies. Previously, he was Vice President of Technology Development at BioRexis Pharmaceuticals and Director of Business Development at Aventis Behring. Dr. Ballance invented albumin fusion proteins while at Delta Biotechnology in the U.K., where he led the Research and Development department.

About PhaseBio

PhaseBio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing novel drugs to treat diabetes and cardiovascular dysfunction in patients suffering from rare diseases. The Company's proprietary discovery platform technology uses recombinant ELP biopolymers to control the half-life, bioavailability and physical characteristics of molecules for ease of administration. The resulting compounds are tuned for a specific rate of absorption, thereby increasing efficacy and reducing side effects. The Company's lead development candidates are PE0139, a novel basal insulin ELP-fusion with the potential for weekly dosing; and PB1046, a weekly VIP agonist for treatment of acute and chronic heart failure and Duchenne muscular dystrophy-associated cardiomyopathy. PhaseBio is privately owned, with headquarters and research laboratories in Malvern, PA.

CONTACT: Media Contact: Laura Bagby, 6 Degrees (312) 448-8098 lbagby@6degreespr.comSource:PhaseBio Pharmaceuticals, Inc.