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HemaQuest Announces Appointment of New Executive Management Team; Company Establishes Headquarters in San Diego
Date:12/3/2010

SAN DIEGO, Dec. 3, 2010 /PRNewswire/ -- HemaQuest Pharmaceuticals, Inc. (HemaQuest), a biotechnology company focused on developing small molecule therapeutics to treat hemoglobin-associated diseases, announced the addition of three experienced executives to the management team. John P. Longenecker, Ph.D. was appointed to serve as President, CEO and Director, Richard Ghalie, MD as Chief Medical Officer, and Tamara A. Seymour as Chief Financial Officer. Dr. Longenecker most recently served as President, CEO and Director of Favrille, Inc. (Favrille) and has more than 25 years of executive management experience in the biotechnology industry. Both Dr. Ghalie and Ms. Seymour worked with Dr. Longenecker at Favrille and each have distinguished careers in the biotechnology industry. "I am very pleased to be reunited with my former colleagues in this new venture. I look forward to an aggressive clinical program for our lead product, HQK-1001, an orally administered Small Chain Fatty Acid Derivative (SCFAD), as a potential new treatment for hematologic disorders such as sickle cell disease and beta thalassemia," said Dr. Longenecker. HQK-1001 has been given Orphan Drug designation in both the U.S. and Europe.

HemaQuest was founded in 2007 in Boston and Seattle by Drs. Susan Perrine, Douglas Faller, Ronald Berenson, Thalia Papayannopoulou and George Stamatoyannopoulos. Dr. Berenson, former President and CEO, and Dr. Perrine, former Chief Scientific Officer and Vice President, Clinical Affairs, will continue as consultants to HemaQuest. SCFADs, the Company's novel small molecule therapeutic platform, stimulate the expression of specific target genes to treat serious and life-threatening genetic blood disorders and malignant hematologic diseases. "This is an exciting opportunity to potentially make a significant contribution to the treatment of these devastating diseases in underserved populations," said Dr. Longenecker.

Under the leadership of Drs. Berenson and
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