Veralox Therapeutics Appoints Michael Hanna as Chief Medical Officer
FREDERICK, MD – June 23, 2021 – 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 Michael S. Hanna, MD, FACC, as chief medical officer.
“We are very pleased that Michael Hanna is joining the Veralox team at an important time in our growth as we continue progression of our first clinical trial with VLX-1005, a first-in-class small molecule inhibitor of 12-lipoxygenase in development for the treatment of heparin-induced thrombocytopenia (HIT),” said Jeffrey W. Strovel, PhD, chief executive officer of Veralox Therapeutics.“He brings outstanding experience in global clinical research and will play a central role in our goal to advance therapeutics based on understanding of the role of 12-lipoxygenase (12-LOX) in the onset and development of many serious diseases and conditions.”
Dr. Hanna trained as a cardiologist and cardiac electrophysiologist and was on the faculty at the University of Pennsylvania for a decade where he led multiple international clinical trials. From 2004-2016 he was with Bristol-Myers Squibb, where he held leadership positions in global clinical research including serving as executive director and clinical lead on the Eliquis (apixaban) development program that resulted in regulatory approvals in more than 95 countries.Dr. Hanna also previously served as a consultant with Critical Thinking Consulting, where he provided senior level strategic counsel on global research programs in thrombosis, heart failure, pulmonary hypertension, stroke, and other diseases.He is author on more than 60 peer-reviewed publications and has been guest lecturer at many leading medical meetings and conferences around the world.He earned his undergraduate degree at Dartmouth College and his MD at University of Connecticut.
“I am very pleased to be joining the team at Veralox as the company prepares for even higher levels of momentum in the development of VLX-1005 for the treatment of HIT and plans to advance many new and innovative programs based on their leadership in the ability to target 12-lipoxygenase,” said Dr. Hanna.“This is an exciting area of research that shows strong potential to deliver a new generation of therapies able to address major areas of unmet need in human health.I look forward to applying my experience in global drug development to support these efforts.”
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 based on advanced understanding of the role of 12-lipoxygenase (12-LOX) in the onset and development of many serious diseases and conditions. The company’s lead candidate, VLX-1005, is in development for the treatment of patients with heparin-induced thrombocytopenia (HIT). Second generation therapeutic products are under development for type 1 diabetes and other immune-mediated and inflammatory diseases.
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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.