Naurex Names Dr. Norbert G. Riedel President and Chief Executive Officer
Wednesday, January 8, 2014
Posted by: John Conrad
EVANSTON, Ill., Jan. 8, 2014 /PRNewswire/ -- Naurex Inc. today announced that Norbert G. Riedel, Ph.D., has been named president and chief executive officer effective January 1, 2014. Naurex's founding chief executive officer Derek Small will continue as a director of the company.
is a biopharmaceutical company developing therapies to treat diseases
of the central nervous system based on the company's proprietary
platform for discovering novel compounds that act at the NMDA receptor
to modulate neuronal plasticity. Its lead molecule, GLYX-13, has shown
rapid-acting antidepressant activity with excellent safety in a
single-dose Phase 2a clinical trial in subjects who had failed treatment
with existing agents, producing statistically significant reductions in
depression scores within 24 hours that lasted several days. GLYX-13 is
currently in a Phase 2b repeat dose study as adjunctive therapy for
major depressive disorder. Naurex's 2nd-generation antidepressant,
NRX-1074, is in Phase 1 clinical studies.
deep knowledge of the global pharmaceutical industry spans general
management, strategy and investor relations as well as R&D and new
product commercialization," said Bill Gantz,
executive chairman of Naurex. "We are delighted that he is taking the
helm at this important time for the company. His track record in
successfully managing the development and commercialization of both
pharmaceutical and biotechnology products will be invaluable as Naurex
moves to the next stage. We also want to acknowledge the seminal role Derek Small
has played as founding CEO in growing Naurex from a start-up to a
recognized neuropharmaceutical innovator with two rapid-acting
antidepressant candidates in clinical trials and a promising
earlier-stage pipeline. We look forward to Derek's continuing
contributions as a Naurex director."
is applying its novel technology platform to develop therapies for
disorders of the central nervous system and has advanced innovative
molecules into clinical development in depression," said Dr. Riedel. "As
a Naurex director, I have come to appreciate the transformational
potential and breadth of applications of the company's technology
platform aimed at modulating neuronal plasticity through molecules
acting at the NMDA receptor."
Riedel continued, "I am impressed by the skill and commitment of our
management and staff and consider it a privilege to lead this team as we
strive to bring our rapid-acting antidepressants to the millions of
patients in need of new options as expeditiously as possible. I want to
thank Derek Small for his outstanding work in advancing the company to
this stage and look forward to continue working with Derek as a director
of our distinguished board."
15 years of service, Dr. Riedel recently retired from Baxter
International, a diversified healthcare company, as corporate vice
president and chief science and innovation officer. Earlier in his
tenure, Dr. Riedel was president and general manager of the recombinant
proteins unit and vice president of research and development for
Baxter's Bioscience business. Previously, Dr. Riedel was head of
worldwide biotechnology and core research functions at Hoechst Marion
Roussel, now Sanofi. He also held a number of scientific management
positions at Hoechst-Marion Roussel and Hoechst. Dr. Riedel serves on
the boards of Jazz Pharmaceuticals, Ariad Pharmaceuticals and the
Illinois Biotechnology Industry Organization. Dr. Riedel is a member of
the Austrian Academy of Sciences and was appointed by Governor Pat Quinn to serve on the Illinois Innovation Council. He is an adjunct professor of biochemistry and medicine at Boston University School of Medicine and adjunct professor of medicine at Northwestern University's Feinberg School of Medicine. Dr. Riedel received a Diploma and Ph.D. from the University of Frankfurt and was a postdoctoral fellow at Harvard University and a visiting professor at the Massachusetts Institute of Technology.
is a clinical-stage biopharmaceutical company developing products to
treat diseases of the central nervous system (CNS). The company's lead
compound, GLYX-13, has shown promising rapid-acting antidepressant
activity with excellent safety and no psychcomimetic side effects in a
Phase 2a clinical trial. GLYX-13 is currently in a Phase 2b repeat dose
study as adjunctive therapy for major depressive disorder. Naurex's 2nd-generation
antidepressant is in Phase 1 clinical trials. Naurex's proprietary
platform is focused on discovering novel compounds that act at the NMDA
receptor to modulate neuronal plasticity and hold therapeutic potential
for a number of CNS indications. For more information, visit www.naurex.com.
Vice President, Corporate Development
Media and Investors
Russo Partners, LLC
Robert Flamm, Ph.D.
Matt Middleman, T: 212-845-4226
SOURCE Naurex Inc.