Veralox Therapeutics Appoints Life Sciences Industry Veteran Alex Martin as Chairman of the Board of Directors
FREDERICK, Md. (September, 2020) --Veralox Therapeutics, a biotechnology company developing first-in-class small molecule therapeutics that treat the underlying pathologies of diseases with significant unmet medical needs, today announced the appointment of Alex Martin as Chairman of the Board of Directors.
Mr. Martin brings to the Chairman’s role over 25 years of experience in senior executive roles in the life sciences industry, with a focus on business development, operations, and financing. He is currently the Chief Executive Officer of Palladio Biosciences, a clinical stage biopharmaceutical company developing medicines for orphan diseases of the kidney. Mr. Martin was previously Chief Executive Officer of Realm Therapeutics, which was acquired by ESSA Pharma in July 2019, and has held executive roles at biopharmaceutical companies including Intercept Pharmaceuticals (ICPT) as Chief Operating Officer and BioXell as Chief Financial Officer. He began his career at SmithKline Beecham and later became Vice President, Global Business Development & Licensing at Novartis.
“I am thrilled to welcome Alex as Chairman of our Board of Directors,” said Jeffrey Strovel, PhD, Chief Executive Officer of Veralox. “He is an accomplished industry leader who brings a strong track record in operational, business and drug development experience. Alex’s deep understanding of our industry and keen strategic insights will bring an important perspective to the Board as we transition to a clinical stage company with multiple products in development.”
“It’s an honor to be appointed Chairman and I’m excited for the opportunity to leverage my experience to provide additional perspectives and insights at such an important time in Veralox’s evolution,” added Martin. “Heparin-induced thrombocytopenia (HIT) is a life-threatening disease where the only approved treatment still carries the risk of significant bleeding and mortality, and Veralox’s lead candidate, VLX-1005, could be a game changer for people suffering from this condition. I look forward to working with Jeff and the entire Veralox Board to further develop this opportunity.”
Mr. Martin received his B.A. from Cornell University and an M.B.A. from Harvard University.
About Veralox Therapeutics
VERALOX Therapeutics Inc. (https://veralox.com/) is developing first-in-class therapeutics that target the underlying pathologies of diseases with unmet medical needs. The company’s lead candidate, VLX-1005, will be developed initially to treat patients with heparin-induced thrombocytopenia (HIT) and HIT with thrombosis (HITT). Second generation therapeutic products are under development for type 1 diabetes (T1D) as well as other immune-mediated and inflammatory diseases.
Kathie Callahan Brady
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U.S. DEPARTMENT OF COMMERCE ANNOUNCES 51 “BUILD TO SCALE” GRANTS TOTALING $47 MILLIONTO FUEL INNOVATION AND TECH-BASED ECONOMIC DEVELOPMENT
Contact: EDA Public Affairs Department, (202) 482-4085
October 5, 2022
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding 51 “Build to Scale” grants – totaling $47 million – to organizations that support technology entrepreneurs, catalyze innovation and fuel economic growth.
EDA’s “Build to Scale” program provides annual grants that aim to accelerate technology entrepreneurship by increasing inclusive access to entrepreneurial support and startup capital. The 2022 awardees will leverage an additional $48 million in matching funds from a variety of private and public sector sources. These EDA investments support advanced manufacturing, bioscience, clean energy and blue economy clusters in regions throughout the United States.
"Strengthening technology ecosystems are a critical key to the Biden Administration's efforts to build a stronger America,” said Secretary of Commerce Gina Raimondo. “Innovation and entrepreneurship have long been keys to American success and will continue to strengthen our collective economic and national security, as well as individual prosperity and well-being.”
"EDA is proud to partner with this year's 'Build to Scale' grantees as they invest in entrepreneurs and create equitable access to capital in their communities," said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. "These projects will give the next generation of industry-leading companies a seminal boost that will result in job creation and private investment – potentially transforming a regional economy and creating economic opportunity beyond what we can foresee.”
The 2022 Build to Scale program was comprised of two competitions––the Venture Challenge and the Capital Challenge. The Venture Challenge supports programs that enable high-growth technology entrepreneurship and foster inclusive access to proven entrepreneurship support models. The Capital Challenge increases access to capital in communities where risk capital is in short supply by providing operational support for early-stage investment funds, networks, and training programs that focus on both traditional and hybrid equity-based financing.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.