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Elevation Pharmaceuticals Strengthens Management Team with Appointment of Executives
Date:9/26/2011

SAN DIEGO, Sept. 26, 2011 /PRNewswire/ -- Elevation Pharmaceuticals, Inc., a biopharmaceutical company focused on the development of new aerosol therapies for patients with respiratory diseases, today announced the appointment of Jaisim Shah as Senior Vice President and Chief Business Officer and Pravin Soni, PhD, as Senior Vice President and Chief Technical Officer, both newly created positions. The company also announced that it drew down $17 million from its tranched Series A financing, triggered by positive Phase 2a clinical trial results of its lead product, EP-101, for the treatment of chronic obstructive pulmonary disease. The second part of the financing will help fund an ongoing Phase 2b clinical trial of EP-101 for which data is expected by the end of the first quarter 2012.

"Mr. Shah and Dr. Soni bring strong commercial and technical leadership skills to Elevation," stated Bill Gerhart, President and CEO of Elevation.  "Their addition to the Elevation leadership team significantly enhances our ability to develop and optimally position in the marketplace new inhaled drug therapies that meet significant unmet clinical needs."

Mr. Shah is a senior-level commercial and business development executive with 27 years of experience in business development, commercial operations, investor relations, marketing and medical affairs, including leadership positions at F. Hoffman-LaRoche, Bristol-Myers Squibb and PDL BioPharma.  At Elevation, Mr. Shah will be responsible for all product positioning and business development activities.  Prior to Elevation he was President of Zelos Therapeutics, where he focused on financing and business development. Prior to Zelos, he was the Senior Vice President and Chief Business Officer at CytRx, a biopharmaceutical company.  Prior to CytRx, Mr. Shah was Chief Business Officer at Facet Biotech and PDL BioPharma where he completed numerous licensing/partnering and strategic transactions with pharmac
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SOURCE Elevation Pharmaceuticals, Inc.
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