Paradigm Therapeutics Limited announces the appointment of Dr Barry Kenny as Commercial Director

4 September 2003 Cambridge, UK. Paradigm Therapeutics Limited (‘Paradigm’) is pleased to announce the appointment of Dr Barry Kenny as Commercial Director.

Dr Kenny has over nineteen years research and management experience in the pharmaceutical industry. He spent eight years at Syntex Research before becoming leader of the urogenital group at Pfizer Central Research and was responsible for the identification and progression of several drug candidates that entered clinical development. He then went on to co-found Cambridge Drug Discovery in 1997 which merged with Biofocus plc in 2001. Following this merger Dr Kenny became Director of Business Development at Biofocus plc. 

Dr Mark Carlton, Director of Operations for Paradigm, said ‘I am delighted to be able to welcome Barry to the Company. Since the successful fundraising at the end of last year, the Company has experienced a dramatic increase in business development activity. I feel confident that with Barry’s proven track record he will be able to oversee further growth in this area and achieve further deals for the Company.’

About Paradigm
The race to define the therapeutic utility of the thousands of uncharacterised human proteins is the new hallmark of modern drug discovery. Unlocking the precise physiological function of these proteins is a vital prerequisite of rational drug development. Paradigm has established a powerful genetics based platform that is generating detailed information and intellectual property on the physiological role, and hence the potential therapeutic utility and value of novel targets identified from within the human genome. Over 800 potential drugable targets have already been identified, of which more than 200 of the most exciting are well advanced within its biological validation program. Paradigm is focussing its efforts on therapeutic areas of high unmet medical need such as obesity, central nervous system disorders and cancer and has already characterised targets that represent novel therapeutic points of intervention in some of these key disease areas. Two of Paradigm’s most exciting targets have identified new potential drug development opportunities in the treatment of chronic pain and migraine and at a novel point of intervention in the synthesis of sex hormones. Paradigm's commercial strategy is to develop both monoclonal and small molecule drugs to these targets in partnership with other drug development companies. The company has already formed a drug discovery collaboration with Genmab and Medivir.

Paradigm Therapeutics was founded by Dr Mark Carlton and Dr Samuel Aparicio (also an investigator in the University of Cambridge Dept’ of Oncology) and was spun-out from the University of Cambridge with initial research funding from Catalyst Biomedica Limited (a subsidiary of the Wellcome Trust). Both the University of Cambridge and Catalyst Biomedica are shareholders in Paradigm. 

On 9th December 2002 the Company announced the successful completion of a second round of private equity funding totalling approximately £12 million. BioMedical Sciences Investment Fund Pte Ltd of Singapore and UK based Technomark Medical Ventures acted as co-lead investors for the round. Other investors included Paradigm’s existing UK-based investor Avlar BioVentures Fund I as well as Avlar BioVentures Fund II. Genmab A/S also made a minority investment following the recently established alliance with Paradigm to develop therapeutic antibodies to Paradigm’s novel drug targets.

The Company has grown to employ 30 staff and consultants and moved into prestigious premises on the Cambridge Science Park. For more information about Paradigm, visit www.paradigm-therapeutics.com .


For further information, please contact Mark Carlton, Director of Operations: 
Telephone + 44 (0)1223 222600
E-mail: mcarlton@paradigm-therapeutics.com 

Paradigm Therapeutics Limited, 214 Cambridge Science Park, Milton Road, Cambridge, CB4 0WA.