Geelong, Australia (11th November, 2009). Verva Pharmaceuticals Ltd. today announced that Professor. Michael A. Cowley, Director of the Monash Obesity & Diabetes Institute, has joined the Company’s Board as a non-executive Director. Professor Cowley is a Victorian Endowment for Science, Knowledge and Innovation (VESKI) Innovation Fellow and a Pfizer Senior Research Fellow for 2009. Recently Professor Cowley was awarded the prestigious Commonwealth Science Minister’s Prize for Life Scientist of the Year.
Professor Cowley has extensive experience in the discovery and development of therapies to treat metabolic diseases and the repurposing of existing medicines as therapies for obesity and diabetes. Professor Cowley was a founder and Chief Scientific Officer of California-based Orexigen® Therapeutics, Inc. (NASDAQ: OREX) and a scientist in the Division of Neuroscience at the Oregon National Primate Research Center of the Oregon Health & Science University. During his tenure at Orexigen® the company advanced a combination product (Contrave®)* to successful phase 3 clinical testing as an obesity therapy with a second product (EmpaticTM)* completing phase 2 testing.
Professor Cowley joins Verva’s Board just as the Company brings its first product, VVP808, into clinical development. VVP808 is a repurposed medicine which acts as an insulin sensitiser in animal models
”We are delighted and privileged to have a person with such extensive academic and commercial experience join the Verva Board”, stated Dr Ian Nisbet, Verva’s Chairman. “Michael’s insights will be invaluable in effectively advancing VVP808 as a diabetes therapy.”
Professor Crowley commented, “Verva is an exciting company with a novel approach to the treatment of diabetes and I am pleased to have the opportunity to contribute to the development of the company and its products.”
* Contrave® and EmpaticTM are registered trademarks of Orexigen® Therapeutics, Inc.
About Verva Pharmaceuticals Ltd.
Verva Pharmaceuticals Ltd. is a clinical-stage pharmaceutical company developing novel therapies to treat diabetes and to prevent and treat obesity. Verva’s lead product VVP808 is a non-thiazolidinedione insulin sensitiser entering phase 1b/2a clinical safety and efficacy testing in type 2 diabetes. VVP808 was previously approved in North America in an unrelated indication. Its unexpected anti-diabetic activity was identified using Verva’s proprietary GES discovery platform. Verva’s pipeline includes: (i) an accelerated discovery program developing next-generation diabetes therapies based on VVP808 structure and mode-of-action and (ii) preclinical proof-of-concept with two obesity-focused technologies that block de novo fat formation. Further information can be found on the company’s website www.vervapharma.com.