Bresso (MI), Italy – November 12, 2018 – EryDel SpA (www.erydel.com), a biotech company specializing in the development and commercialization of drugs and diagnostics delivered through autologous red blood cells, today announced the appointment of Stanley J. Musial as Chief Financial Officer, effective immediately.
“The addition of Stan to the management team comes at a critical time as EryDel further strengthens its management team,” remarked Dr. Luca Benatti, Chief Executive Officer of EryDel. “Stan’s financial leadership and industry expertise, as well as his significant fund-raising and transactional experience, are invaluable assets, as EryDel moves its pipeline through development and ultimately to the commercial market.”
Stan has held senior financial management positions for both publicly-held and privately-held companies, becoming experienced in executing growth strategies, raising capital, and mergers and acquisitions. Stan most recently spent nearly six years as Executive Vice President and Chief Financial Officer of Egalet Corporation, a fully integrated specialty pharmaceutical company focused on innovative treatments for pain, which Stan took public in 2014, and was part of a team that transformed the company from development stage to revenue generation. Prior to that,
Stan held the position of Chief Financial Officer at Prism Pharmaceuticals, Inc., Strategic Diagnostics, Inc., and similar positions with other biotechnology, medical device and healthcare services companies. Stan began his career with KPMG LLP, earned an MBA in finance from Temple University and a BS degree in accounting from the Pennsylvania State University, and is a Certified Public Accountant.
Mr. Musial commented, “EryDel has a robust platform and a diverse pipeline that should lead to multiple opportunities to address important unmet medical needs. I am excited to join the team and contribute to advancing these product candidates by pursuing financial and operational strategies that enable the company to navigate challenges successfully and achieve meaningful clinical, regulatory, and commercial milestones.”
About Ataxia Telangiectasia
Ataxia Telangiectasia (AT) is a rare genetic disease caused by biallelic mutations in the ataxia telangiectasia mutated (ATM) gene, for which no established therapy is currently available. ATM encodes a PI3Kinase protein shown to play a pivotal role in response to DNA damage and cell cycle control. Homozygosity for ATM mutations result in a multisystemic disorder, involving mainly the nervous and immune systems. The major clinical feature of AT is severe progressive neurodegeneration from early infancy. Specific features include progressive ataxia of the trunk and limbs, involuntary movements, oculomotor apraxia, difficulties with speech and swallowing, and delayed peripheral neuropathy. Other clinical features of patients with the classical phenotype include oculocutaneous telangiectasia, immunodeficiency with recurrent respiratory tract infections, radiosensitivity and an increased incidence of cancer.
EryDel SpA is a biotechnology company specialized in the development of drugs delivered through red blood cells (RBCs) by using a proprietary medical device technology. Its most advanced product, EryDex System (EDS) is under late stage development for the treatment of Ataxia Telangiectasia, a rare autosomal recessive disorder for which no established therapy is currently available. EryDex has received Orphan Drug designation for the treatment of AT both from the FDA and the EMA. A completed pilot Phase II trial in AT patients demonstrated statistically significant efficacy of EDS on both the primary and secondary efficacy measures. An international multi-center, Phase III pivotal study, ATTeST, is being conducted. EryDel has a pipeline of preclinical programs that use its proprietary RBC’s delivery technology for the treatment of other rare diseases.
The ATTeST project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 667946”.
Media contact: Emanuela Germi at +39 02 36504470 or email@example.com