12 October 2006
Drummond Paris named as Chairman of Karus Therapeutics
Southampton, UK - 12 October 2006 - Innovative biopharmaceutical company Karus Therapeutics has appointed Drummond Paris as Chairman. He is currently President of Kowa Research Europe Ltd and was formerly CEO of Novartis Pharmaceuticals UK.
The University of Southampton spin-out was created by in July 2005 by Dr A. Ganesan from the School of Chemistry, cancer scientist Dr Graham Packham and heart biologist Dr Paul Townsend from the School of Medicine.
The company plans to develop novel drugs known as histone deacetylase (HDAC) inhibitors to treat cancer and heart disease. There has been intense interest in industry in HDAC inhibitors, which can slow abnormal cell growth, cause controlled cell death and/or correct abnormal cell differentiation in tumours. The next generation products to be developed by Karus are expected to offer patients a potent and less toxic treatment than their predecessors.
'I am delighted to join Karus Therapeutics,' said Mr Paris. 'The company has now developed its science to the stage where it can move forward and achieve a great deal. Karus has tremendous potential in the fields of oncology, dermatology, rheumatoid arthritis and many more conditions.'
Until 2005, Mr Paris was CEO and Country President of Novartis Pharmaceuticals UK. He joined the pharmaceutical industry 28 years ago and, having joined the pre-merged Sandoz in 1977, worked with Novartis for twenty-five years.
Karus Therapeutics received £750,000 at its foundation in 2005, a record level of joint seedcorn funding from the IP Group, the early stage technology transfer specialists, and the SULIS fund, a seed fund owned by the Universities of Southampton, Bath and Bristol. It was the 15th company to be spun out of the University of Southampton since 2000, three of which have already listed on the London Stock Exchange.
For more information, contact Drummond Paris on 07795 018475.