Luci Brings Successful Track Record of Building Value in Biotech Arena
Through Experience in Business Development and Investment Community
WELLESLEY HILLS, Mass., Dec. 6 /PRNewswire-FirstCall/ -- MacroChem Corporation (OTC Bulletin Board: MACM) has appointed David P. Luci, Esq. as General Counsel and Vice President Corporate Development. Mr. Luci will also be Corporate Secretary with responsibilities encompassing all the company's legal matters including compliance with securities regulations and corporate governance. Included in the scope of Corporate Development activities will be responsibility for partnering activities and investor relations.
"I'm very pleased to welcome David to MacroChem. Having recently completed three very important milestones, we are confident that David's extensive experience will help bolster the company's continued momentum," stated Robert DeLuccia, President and CEO of MacroChem. "These key milestones are: last month's announcement of positive interim Phase 2 data for EcoNail(R) for the treatment of onychomycosis; the recent acquisition of exclusive worldwide license rights to pexiganan, a novel topical anti-infective peptide for the treatment of diabetic foot infection, which has already completed two Phase 3 trials; and the recent conversion of all preferred shares into common shares leaving only common stock, warrants, and options outstanding."
Most recently, Mr. Luci served as Executive Vice President and General Counsel of Bioenvision where he established the company's offices in New York, raised over $75 million in capital, and advanced Bioenvision stock listing from OTCBB to AMEX and then to NASDAQ. He was also responsible for garnering analyst interest for a number of investment firms. While at Bioenvision, he in-licensed the company's development-stage lead cancer drug for Japan and Southeast Asia and initiated drug development activities in Japan. He later successfully guided Bioenvision into a merger agreement and closing of a related tender offer with its U.S. co-development partner, Genzyme, in a transaction valued at approximately $345 million. Prior to joining Bioenvision, Mr. Luci practiced securities law and mergers and acquisitions at Paul, Hastings, Janofsky and Walker LLP, New York. Prior to PHJW, he was Senior Auditor, Ernst and Young, New York, focused on internal audit and controls within the Mergers and Acquisitions Practice Group. He is also a member of the Board of Directors and Chairman of the Audit Committee of Access Pharmaceuticals, Inc.
"David brings a diverse legal, financial, and business background as well as excellent knowledge of the biotech sector, both with pharmaceutical companies and the investment community of our industry," said Mr. DeLuccia. "His experience includes capital markets financing, negotiating deals, and license agreements (both U.S. and ex-U.S.), corporate partnerships, and mergers and acquisitions. I believe this impressive skill set will serve us well as we seek to capitalize on our recent achievements and advance our initiatives in the coming year."
Mr. Luci received his JD, cum laude, from Albany Law School of Union University, Albany, and his Bachelor of Science in Business Administration from Bucknell University. He is a member of the New York Bar Association and a Certified Public Accountant (Pennsylvania).
MacroChem Corporation is a specialty pharmaceutical company that develops and seeks to commercialize pharmaceutical products. Our lead product candidate is EcoNail, a topically applied SEPA-based econazole lacquer for the treatment of onychomycosis, a condition commonly known as nail fungus. We recently acquired exclusive worldwide license rights to pexiganan, a novel topical anti-infective for the treatment of diabetic foot infection, which has already completed two Phase 3 trials. Our other clinical stage product candidate, Opterone(R), is a topically applied SEPA-based testosterone cream designed to treat male hypogonadism. Our pipeline of clinical-stage and early-stage product candidates is based on our SEPA, MacroDerm(TM) and DermaPass(TM) drug delivery technologies. For more information visit our website, http://www.macrochem.com.
With the exception of historical information contained in this press
release, the matters described herein are forward-looking statements that
involve risks and uncertainties. MacroChem's actual results may differ
significantly from the results discussed in the forward-looking statements.
Factors that might cause such a difference include, but are not limited to,
those discussed or referred to in the section entitled "Risk Factors" in
MacroChem's Annual Report on Form 10-K, as well as those discussed
elsewhere therein, and include, without limitation, risks regarding product
development, the timing and results of clinical trials, the regulatory
approval process, capital requirements, financial condition, patent
protection and dependence on third parties for development and licensing
arrangements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
MacroChem undertakes no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events or
otherwise. For more information visit our website, http://www.macrochem.com.
MacroChem: Bernard Patriacca - VP/CFO
Investor Relations: The Investor Relations Group, Inc.
Christine Berni/ Joseph Triunfo, (212) 825-3210
Bill Douglass/ Michaela Heller, (212) 825-3210
|SOURCE MacroChem Corporation|
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