--Expansion of Leadership Team as Company Advances Development of Lead Program in ADPKD--
NEWTOWN, Pa.--(BUSINESS WIRE)-- Palladio Biosciences, Inc. (Palladio) http://palladiobio.com/, a privately-owned, clinical stage biopharmaceutical company developing medicines for orphan diseases of the kidney, announced today the appointment of Alex Martin as the company's Chief Executive Officer.
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Mr. Martin brings to Palladio over 25 years of experience in senior executive roles in the life sciences industry, with a focus on business development, operations, and raising capital. He was previously CEO of Realm Therapeutics (RLM) which was acquired by ESSA Pharma (EPIX) in July 2019, and prior to that held executive roles at several biopharmaceutical companies including Intercept Pharmaceuticals (ICPT) where he was COO and BioXell (BXLN) where he was CFO. He began his career at SmithKline Beecham and later became Vice President, Business Development & Licensing at Novartis. Mr. Martin received his BA from Cornell University and an MBA from Harvard.
"I am very excited to welcome Alex to Palladio as CEO. I've known him for several years and believe his leadership and public company experience will be incredibly valuable to us as we take lixivaptan into Phase III and beyond. I look forward to helping Alex build Palladio into a leading biopharmaceutical company focused on orphan nephrology medicines," said Lorenzo Pellegrini, Ph.D., founding CEO who will continue on as Chief Operating Officer.
"I am delighted to come on board," added Mr. Martin, "I look forward to continuing the great work already done developing lixivaptan for ADPKD and helping make this drug available to patients with orphan diseases of the kidney who currently have very limited options."
Sandy Zweifach, Chairman of Palladio, also commented, "Alex has a great track record of executing strategy, building teams, and raising capital. We are very pleased he is joining Palladio at this exciting time."
About Palladio Biosciences, Inc.:
Palladio Biosciences is a privately-owned, clinical stage biopharmaceutical company developing medicines for orphan diseases of the kidney and is located near Philadelphia, PA. Palladio is initially developing its lead drug, lixivaptan, for Polycystic Kidney Disease (PKD), an orphan kidney disease for which there are limited treatment options. For more information, please visit www.palladiobio.com.
Lixivaptan is a potent, selective vasopressin V2 receptor antagonist, a mechanism of action that has clinical proof of concept to slow kidney function decline in adults at risk of rapidly progressing Autosomal Dominant PKD (ADPKD). Lixivaptan received orphan designation by FDA for the treatment of ADPKD and is currently being tested in the ELiSA study, a Phase 2 clinical trial in patients with ADPKD. It was previously administered to more than 1,600 subjects across 36 clinical studies as part of a prior clinical development program for the treatment of hyponatremia. Palladio expects to leverage lixivaptan's large body of data generated in the hyponatremia clinical program to accelerate the development of lixivaptan for the treatment of ADPKD.
About Polycystic Kidney Disease (PKD) - Key Facts and Figures:
PKD is an inherited genetic disease that affects more than 140,000 people in the United States and millions globally. ADPKD is the most common type of PKD. A person with ADPKD has a 50 percent chance of passing the disease on to each of his or her children. The disease is characterized by uncontrolled growth of fluid-filled cysts in the kidney, which can each grow to be as large as a football. Symptoms often include kidney infections and chronic pain. The continued enlargement of cysts and replacement of normal kidney tissue causes irreversible loss of renal function. In the United States, approximately 2,500 new people with PKD require dialysis or a kidney transplant every year, making PKD the 4th leading cause of kidney failure. There is no cure for PKD.
Please note that lixivaptan is for investigational use only.
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Source: Palladio Biosciences, Inc.
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