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Celtaxsys Restructures, Enhances Operational Focus
Date:9/9/2013

ATLANTA, Sept. 9, 2013 /PRNewswire/ -- Celtaxsys, Inc., an Atlanta-based pharmaceutical discovery and development company, announced today that it has restructured its management and operations to focus on development of its lead clinical stage drug candidate, CTX-4430, for treatment of Cystic Fibrosis (CF) lung disease.

As part of the restructuring, Dr. Michael Hanley has retired from his role as CEO and Chairman, and Dr. Brett Premack has stepped down as CTO.  Dr. H. Daniel Perez, a member of the Celtaxsys Board and former CEO of Berlex Biosciences and Presidio Pharmaceuticals, is serving as Chairman.

"We thank Dr. Hanley for his services as CEO and Chairman. Under his guidance, Celtaxsys has transformed into an exciting drug development company with a promising lead compound," said Dr. Perez.

In conjunction with these management changes, Celtaxsys is strengthening its clinical operations including bringing on Ed Philpot, MD, MBA, as CMO. Dr. Philpot has been serving as chair of the Medical Advisory Panel for the CTX-4430 development program for the past year and was formerly CMO at Smith & Nephew and prior to that Executive Director of Pulmonary Disease and Immuno-Inflammation at GSK, where he led several late stage clinical development programs. Celtaxsys has also expanded its internal Quality Assurance and Clinical Operations with additional key hires.

"We're excited to be able to bring more top talent into Celtaxsys," said Mike Masters, Celtaxsys Board Member. "As we continue to meet our clinical milestones, these changes demonstrate our strong support for the company and its programs".

About Cystic Fibrosis: Cystic Fibrosis is the most common life-shortening autosomal recessive disease among Caucasians, and lung di
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