SALEM, N.H.--(BUSINESS WIRE)--Third graph, third sentence of release dated November 16, 2013 should read: The company’s stock was trading at a split-adjusted $60.56 upon Reynolds’ departure (sted The company’s stock was trading at $60.56 upon Reynolds’ departure).
The corrected release reads:
INVIVO THERAPEUTICS FOUNDERS TAKE ON PARKINSON’S DISEASE WITH PIXARBIO CORPORATION
PixarBio Corporation announces its formation to research and develop novel biomaterials for long term-personalized drug delivery systems for Parkinson’s Disease.
PixarBio’s founding team includes InVivo Therapeutics co-founders Frank Reynolds, and Robert S. Langer ScD, David H. Koch Institute Professor at the Massachusetts Institute of Technology, as well as polymer industry veteran Randy Holmes-Farley PhD and Katrin Holzhaus, an entrepreneur with a proven track record of success.
Founding Team Highlights:
Frank Reynolds, CEO/CFO: serial entrepreneur winning global awards as both scientist and business leader, co-inventor on 38 patent applications. Reynolds co-founded InVivo Therapeutics (NVIV) growing its value from $0.01 at founding to a split-adjusted high of $85.37. The company’s stock was trading at a split-adjusted $60.56 upon Reynolds’ departure.
Robert S. Langer, Co-Founder: David H. Koch Institute Professor at the Massachusetts Institute of Technology. Dr. Langer holds more than 800 life science patents - more than any other person in history. His technologies have been licensed by over 250 companies around the world.
Randy Holmes-Farley, Chief Technology Officer: Holmes-Farley earned his PhD in George Whiteside Lab at Harvard, and is now a leading researcher in the field of therapeutic polymers and biomaterials and co-inventor of three approved polymer pharmaceuticals, 72 US patents, and 35 journal publications. He previously held the position of Vice President, Drug and Biomaterial R&D at Genzyme and Director of Chemical Research at GelTex Pharmaceuticals, among others.
Katrin Holzhaus, Chief Operating Officer: a serial entrepreneur who’s teaming with Frank Reynolds for a 3rd time over the last 13 years, has an established track record of success. Holzhaus will use her established methods and procedures to keep PixarBio operations optimized.
Said PixarBio’s CEO Reynolds: “We are excited about adding Randy Holmes-Farley to our experienced team of founders. His background and vision perfectly align with PixarBio’s mission. I’m also thrilled to announce an agreement for our first R&D facility in Medford, MA close to our innovation and academic roots at Harvard and MIT. More on the R&D facility will be announced in the coming weeks. Lastly,” Reynolds said “Parkinson’s disease ravaged my father’s brain for 25 years. I’ve been consumed with the disease for 35 years now and we’re laser beam focused to help as soon as possible.”
Parkinson’s Disease (PD)
- Effecting 1% of all people over 50 years old
- Over 1 million Americans suffer from PD
- Over 10 million worldwide suffer from PD
- It is estimated that PD costs in the U.S. exceed $25 billion annually
- In 1900 there were 3.5 million people over age 65; in 2010, there were over 40 million.
About PixarBio
PixarBio Corporation is dedicated to developing new therapeutic options for Parkinson’s disease. Co-founded by Robert S. Langer from MIT’s Langer Lab and Frank Reynolds, the company is developing novel smart materials to achieve sustained release of dopamine, or dopamine agonists. Research is focused on a platform for chronic neurological applications. The company is headquartered in Salem, NH. For more information, please visit www.pixarbio.com.
