The former chairman of BNP Sunstone and a pharmaceutical veteran has joined the board of a firm developing a cancer vaccine.
Martyn Greenacre has served as a CEO of Delsys Pharmaceutical Corp., a formulation and drug-delivery system company later acquired by Elan. He worked in the European division of SmithKline Beecham in several roles that included chairman for Europe. He also worked at Zynaxis. BNP Sunstone was acquired by Sanofi-Aventis in 2010.
Maurits W. Geerlings, Formula Pharmaceuticals CEO said: “His proven leadership, coupled with his extensive business and corporate development experience in the pharmaceutical industry, will be invaluable to us as we advance our lead clinical-stage program.”
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Last month, Berwyn, Pennsylvania-based Formula announced it was raising $13 million in a series B financing round to move a vaccine to be used during first remission for acute myeloid leukemia and other aggressive cancers through phase 2 clinical trials.
Although median survival rates after chemotherapy range from a few months to two years, a phase 1 study showed a survival benefit of 54 months when the vaccine was added to the standard of care. If approved, the vaccine would be the first on the market to keep acute myeloid leukemia in remission, according to Dr. Giorgio Mosconi, a cofounder of Formula.