CAMBRIDGE, Mass., Jan. 12 /PRNewswire/ -- Cequent Pharmaceuticals, a pioneer in the development of novel products to deliver RNAi-based treatments to prevent and treat human disease, announced that Ted Hibben has joined the company as chief business officer. Mr. Hibben comes to Cequent from Coley Pharmaceutical Group, where he was most recently vice president of business development and alliance management and played a key role in the company's $233 million acquisition by Pfizer in 2008. Coley was a publicly traded biopharmaceutical company specializing in vaccine adjuvant technology and a new class of immunomodulatory drug candidates designed to fight cancers, asthma, infectious diseases, and autoimmune diseases.
"Strategic partners have been key to Cequent's success to date and will become even more important as we continue to move our tkRNAi technology from the laboratory into clinical development against multiple diseases. Ted brings to Cequent a wealth of experience orchestrating a full range of strategic collaborations with leading pharmaceutical and biotech companies - from drug discovery, research, and clinical-development partnerships to licensing agreements," said Cequent President and CEO, Peter Parker. "Beyond his role in the Pfizer acquisition, Ted's recent track record includes closing nearly a dozen alliances totaling $750 million of itemized pre-commercial development milestones with companies like Novartis, GSK, and Merck."
Regarding Mr. Hibben's role at Cequent, Mr. Parker said, "Ted will focus on external partnering activities in three major areas. On our inflammatory bowel disease (IBD) program, he will look for partner(s) to further develop one or more of the 11 targets we are working on for Crohn's disease and ulcerative colitis; he will also seek to partner our CEQ508 candidate for FAP, slated for a Phase I clinical trial in 2009. FAP (familial adenomatous polyposis) is an inherited precursor to
|SOURCE Cequent Pharmaceuticals|
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