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Avaxia Biologics Elects Christopher Kiritsy to its Board of Directors
Date:4/26/2012

LEXINGTON, Mass., April 26, 2012 /PRNewswire/ -- Avaxia Biologics, Inc., a privately-held biotech company using its proprietary platform technology to develop orally-active antibody therapeutics for the treatment of gastrointestinal diseases, announced today that it has elected Christopher Kiritsy, President and Chief Executive Officer of Arisaph Pharmaceuticals, Inc. to its Board of Directors.

"I am pleased that Chris has agreed to serve on our Board," said Dr. Barbara Fox, founder, CEO and a member of the Board of Avaxia.  "As we position the company for our next phase of growth that includes manufacturing clinical materials for our inflammatory bowel disease (IBD) program and initiating our Phase I clinical trial in IBD later this year, Christopher's broad experience in building young biotech companies, his strong insight into product development and his financial expertise will be invaluable."  

About Christopher Kiritsy:
Mr. Kiritsy is a co-founder and President and Chief Executive Officer of Arisaph Pharmaceuticals, Inc. and has served as a Director since inception.  Mr. Kiritsy is a seasoned entrepreneur, who possesses 20+ years of business and technical experience, previously holding senior management positions in R&D, business development and finance.  At Arisaph, Mr. Kiritsy has evolved the organization from an academic, research orientation to a clinical development enterprise with a rich research pipeline, which led to one of the highest awards from the U.S. government's Therapeutics Discovery Project Program totaling nearly $3 million with all 12 projects funded.  Additionally, Mr. Kiritsy has executed multiple business development transactions, leveraging Arisaph's strong IP to raise in excess of 70% of its total capital from non-dilutive sources.

Prior to Arisaph, Mr. Kiritsy served as Executive Vice President, Corporate Development and Chief Financial Officer of Kos Pharmace
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SOURCE Avaxia Biologics, Inc.
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