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Sequenom Taps Biotech Vet as New CEO

A familiar face is returning to San Diego’s biotech community.

Harry Stylli was named president and chief executive officer of San Diego-based biotechnology firm Sequenom Inc. on June 1, though his official start date is June 6.

“Harry offers an admirable track record of entrepreneurial leadership in the biotechnology and pharmaceutical industries,” said Harry Hixson, Sequenom’s chairman of the board.

For the past year, Stylli served as CEO of Monrovia-based Xencor, a protein design automation company.

Before that, Stylli was president and CEO of San Diego-based biotech CovX Pharmaceuticals.

In 1995, Stylli co-founded San Diego-based platform company Aurora Biosciences, which was acquired for about $600 million by Vertex Pharmaceuticals in 2001.

From 1987 through 1995, Stylli held various positions at the British pharmaceutical company GlaxoSmithKline.

Stylli earned a Ph.D. in philosophy from London University’s Faculty of Medicine and a master’s of business administration from the U.K. Open University in London.

Stylli replaces Antonius Schuh, who resigned as president and CEO in February.

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On The Fast Track:

San Diego-based biotechnology firm La Jolla Pharmaceutical Co. said May 31 that the U.S. Food and Drug Administration granted it “fast track” designation for its experimental lupus drug Riquent, but the firm doesn’t have the cash to run a required study. The fast track program is designed to speed up the review process for drugs that meet an unmet medical need.

“No new treatments have been approved in the U.S. in almost 40 years (for lupus),” said Steve Engle, La Jolla Pharmaceutical’s chairman and CEO, in a company statement. He added that current drugs have significant side effects.

The FDA has asked La Jolla Pharmaceutical for more patient data. The company said it will need to raise more financing or find a partner to fund the trials. Its current cash will last it until the first quarter of 2006, the firm said.

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Adventrx Starts Phase II Trial:

Adventrx Pharmaceuticals Inc. said late last month that it started a Phase II study, testing its lead experimental CoFactor drug in 300 patients with metastatic colorectal cancer.

Under the trial protocol, patients will receive Adventrx’s CoFactor combined with a widely used chemotherapy. The results will be compared to a control group of patients who will receive existing anti-cancer drugs.

The study’s primary endpoint is defined as reduction of grade 3 or greater toxicity as defined by the National Cancer Institute.

Grading systems are different for each cancer, according to the institute.

Typically, scientists grade tumors by looking at how abnormal the cancer cells look under a microscope and how quickly the tumor is likely to grow and spread.

The secondary endpoints of the trial are response rate, how quickly the tumor progresses and patient’s quality of life, Adventrx said.

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Getting The Cash:

Two San Diego-based biotechs have announced cash infusions. MacroPore Biosurgery Inc., which develops implants for surgery, said June 1 that it has received $11 million in connection with an equity deal first announced in May to support research and development.

The company didn’t offer specifics.

Another local biotech, Hollis-Eden Pharmaceuticals Inc., which developed an experimental treatment to protect against a nuclear or radiological terrorist attack, also announced June 1 that it signed a subscription agreement with a single institutional investor to raise $10 million from selling common stock and warrants.

The company agreed to sell 1.3 million common shares at $7.50 a share and issue a four-year warrant to buy up to an additional 266,667 common shares at $10 per share.

The deal was expected to close by June 3.

Rodman & Renshaw, LLC acted as the placement agent for the transaction, Hollis-Eden said in a company statement.


Contact Marion Webb at marionw@sdbj.com or call her at (858) 277-6359, Ext. 3108.

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