WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Oligomerix, Inc., a privately held company pioneering the development of small molecule therapeutics targeting tau for rare neurodegenerative and Alzheimer’s diseases, today announced several organizational changes reflecting the transition to a clinical-stage pharmaceutical company.
Oligomerix will now operate as two distinct business units: 1) Discovery Group and 2) Development Group, which will include both clinical and commercial development activities. As part of this reorganization, William Erhardt, M.D., previously Chief Medical Officer of Oligomerix, will become President, Head of Development & Operations.
Dr. Erhardt’s primary focus will be to lead the organization into the clinic and take on all the obligations and responsibilities of that task for the entire organization. Dr. Moe will remain Chief Executive Officer and takes on the new responsibility of leading the Discovery Group as Head of Research & Strategy, and working in collaboration with Eliot Davidowitz, Ph.D., Chief Scientific Officer of Oligomerix. Additionally, Robert Foerster, CFO, takes on the additional role of Chief Operating Officer in recognition of his very significant contributions to Oligomerix.
“Oligomerix continues to make significant strides with our oral, small molecule tau self-association inhibitor, and this reorganization is an important step towards clinical testing,” said Dr. Moe. “We are extremely fortunate to have Bill’s numerous years of pharmaceutical and clinical experience leading programs like ours successfully into and through development. In the additional role as COO, Bob Foerster’s biopharma and finance experience will ensure our operational strategies stay on track as we begin first-in-human studies later this year.”
With over 20 years of executive leadership experience in the biopharmaceutical industry, Dr. Erhardt joined Oligomerix last year as Chief Medical Officer. Prior to joining Oligomerix, he was Senior Vice President, Head of Clinical Development & Operations at Pfizer, Inc., with responsibility for Pfizer’s clinical development operations globally and leading a team of more than 25,000 Pfizer researchers. Over his long tenure at Pfizer, Bill was responsible for overseeing several clinical development and medical affairs units across multiple therapeutic areas including Pfizer Phase I units.
“I am very pleased to take on the role as President, Head of Development & Operations of Oligomerix as we transition from discovery research into a clinically focused biopharmaceutical company. There is a critical unmet need for novel approaches to treating Alzheimer’s disease and other rare neurodegenerative disorders, and I believe that our pioneering therapy can make a significant impact in the field,” said Dr. Erhardt.
Mr. Foerster is a seasoned pharmaceutical executive with experience across numerous financial, therapeutic and functional areas during his 28 years with Pfizer. His roles included Senior Director
Commercial Development for Emerging Markets, Senior Director Business Development – Japan, where he was responsible for the entire development portfolio, numerous business alliances, strategic planning, and was a member of the Leadership team. He was Director/Team Leader - Neuroscience for New Product Development and Director of Financial Operations for the Africa Middle East region. Mr. Foerster received his BA in Economics from Dartmouth and MBA Finance from Rutgers.
In June, Oligomerix announced a Series B extension raise of $2.7 million to support Phase 1 clinical development.
About Oligomerix’s Lead Program
Oligomerix’s lead clinical candidate is an oral, small molecule inhibitor of tau self-association that targets the beginning of the tau aggregation cascade, a process thought to be important in the development of Alzheimer’s disease and other neurodegenerative disorders. The lead candidate has demonstrated efficacy in animal models of tau-mediated neurodegeneration. Preclinical safety studies are completed and Phase 1a clinical studies are planned to initiate this year.
About Oligomerix, Inc.
Oligomerix is an emerging clinical stage biotechnology company focused on developing disease-modifying therapeutics for neurodegenerative diseases characterized by aberrant tau protein ranging from rare tauopathies such as progressive supranuclear palsy and frontotemporal dementia to Alzheimer’s disease.
Oligomerix discovers and develops differentiated, oral, small molecule inhibitors of tau self-association that are easy to administer and cost effective. Oligomerix’s portfolio of compounds is expected to provide a potentially lower-cost treatment alternative and/or complement to the newly emerging high-cost therapeutic options such as the monoclonal antibody products.
Oligomerix is headquartered at the Westchester Park Center in White Plains, New York and has lab facilities at the Ullmann Research Center for Health Sciences within the Albert Einstein College of Medicine. Follow Oligomerix on Twitter and LinkedIn.
Oligomerix is seeking strategic partners and investors to support the acceleration and advancement of these important programs. For more information about Oligomerix, please visit our new website at https://oligomerix.com/.
