BIO news: Proteome systems names new CEO, deal

Dr Jenny Harry has been appointed CEO of Sydney-based proteomics company Proteome Systems, taking over from Stephen Porges.

Harry has been deputy CEO for the past two years and was involved in the integration of Massachusetts therapeutics business Eukarion, which Proteome Systems bought in 2005. She is a co-founder of the company and runs its discovery and diagnostics divisions.

Porges will continue to serve as a non-executive director of the company.

At BIO 2007 this week in Boston, Harry announced the company had agreed to become a partner in a new venture, Minerva Healthcare, which plans to focus on developing and commercialising topical products and medical devices for dermatological disorders.

These include radiation dermatitis caused by cancer treatment, wound healing, skin ulcers, scars and skin conditions caused by ageing and sun damage.

The other partners in Minerva Healthcare are US companies Impax Laboratories, Athena Diagnostics and Ivax Pharmaceuticals.

Proteome Systems has granted an option to license its topical Eukarion compounds to Minerva for development and commercialisation.

Eukarion's compounds are part of its patented synthetic catalytic scavenger (SCS) technology, used for the treatment of conditions associated with oxidative stress.

"This is an exciting opportunity for commercialization of our Eukarion assets," Harry said. "We completed a proof of concept study in humans last year demonstrating the efficacy of these compounds in treating radiation induced dermatitis.

"The proposed deal with Minerva Healthcare provides us with a very clear and rapid path to market for both over the counter and FDA-approved topical products."