Ondine Biopharma Corporation (TSX: OBP; AIM: OBP) announced today that it has established Ondine Biopharma (U.S.A.) Inc., a wholly-owned subsidiary of Ondine Biopharma Corporation. Ms. Jacqueline Walker, a former Dentsply International executive, has been appointed President of this new subsidiary and will lead global commercialization efforts of Periowave(TM) as well as other applications of Ondine's innovative photodynamic disinfection technology.
"With over 20 years of medical and dental device experience, Ms. Walker will guide Ondine's operations as we expand sales into markets outside Canada and develop the US commercialization strategies," said Carolyn Cross, President and CEO of Ondine Biopharma. "Ms. Walker significantly strengthens our management team through this critical stage of growth."
As Vice President and General Manager of Dentsply's Professional Division, Ms. Walker held global P&L responsibility for a broad range of dental equipment and consumables with annual revenues of US$140 million. Ms. Walker also managed Dentsply business units ranging from small start-up operations to large divisions with as many as 500 associates. Dentsply is the world's largest dental products manufacturer, with 7,700 employees and annual revenues exceeding US$1.7 billion. Prior to Dentsply, Ms. Walker held management positions at Ohmeda Inc., a global leader in the critical care hospital equipment market.
"I am truly excited to join Ondine's executive management team and to play an integral role in bringing the Periowave(TM) disinfection system to market," said Ms. Walker. "Periowave(TM) is a disruptive technology that will significantly advance the treatment of periodontal disease and provide the basis for future antimicrobial applications in the medical and dental fields."
About Periowave(TM) and Photodynamic Disinfection
Periowave(TM) is a Photodynamic Disinfection system developed by Ondine that utilizes low-intensity lasers and wavelength-specific, light-activated compounds to specifically target and destroy microbial pathogens and reduce the symptoms of disease. The compounds are generally topically applied and one or more lasers are used to activate the compounds and complete the disinfection. The Photodynamic Disinfection technologies were developed by Professor Michael Wilson and colleagues at the Eastman Dental Institute, University College London, and licensed to Ondine by UCL Biomedica PLC, University College London. Additional information about Periowave(TM) is available at www.periowave.com.
About Periodontal Disease
Periodontitis (gum disease) is a common human affliction, affecting one third of all adults, and over half of the population over the age of 50. Periodontitis results in gum tissue detachment, bleeding gums, oral malodour, bone and tooth loss as well as other complications. The standard of care for treating periodontal disease is Scaling and Root Planing ("SRP"), or gum surgery, or both. SRP is the sub-gingival removal of plaque biofilm adhering to the root surfaces. Periodontitis is associated with a host of other serious conditions including heart disease, stroke, premature births and diabetes.
About Ondine Biopharma Corporation
Ondine is developing non-antibiotic therapies for the treatment of a broad spectrum of bacterial, fungal and viral infections. The Company is focused on creating and commercializing leading-edge products utilizing its patented light-activated technology. Photodynamic Disinfection (PDD) provides broad-spectrum antimicrobial efficacy without encouraging the formation and spread of antibiotic resistance. Ondine has developed Periowave(TM) for the treatment of chronic periodontitis in adults, and is extending its platform technology into other applications both within and outside the oral cavity. The Company is headquartered in Vancouver, British Columbia, Canada, with a research laboratory in Redmond, Washington, USA and an international office in St Michael, Barbados. For additional information, please visit the company's website at: www.ondinebiopharma.com
Forward-Looking Statements:
Certain statements contained in this release containing words like "believe", "intend", "may", "expect" and other similar expressions, are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to materially differ from those projected in the company's forward-looking statements include the following: market acceptance of our technologies and products; our ability to obtain financing; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain and develop partnership opportunities; the timing of commercial product launches; the ability to achieve technical milestones in key products and other risk factors identified from time to time in the company's filings.
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For further information: please contact: Carolyn Cross, President and Chief Executive Officer, Ondine Biopharma Corporation, (604) 669-0555, ccross@ondinebiopharma.com; Christina Bessant, Investor Relations, The Equicom Group Inc., (416) 815-0700 ext. 269, cbessant@equicomgroup.com