Tolera Therapeutics, Inc., has named Ashleigh Palmer as President, CEO and Board Director.
Palmer had a track record in developing and commercializing biopharma products and working with pioneering therapeutic platforms.
He is president of Creative BioVentures, a strategic advisory company serving the biopharma industry. He will continue as president of the company he founded, Creative BioVentures, as he works as CEO of Tolera.
Palmer has undertaken several challenging development-stage and turnaround assignments, including CEO and Chairman of Restoragen, Inc.; CEO of Canfite Biopharma, Ltd.; and CEO of Unigene Laboratories, Inc.
Previously, Palmer was Vice President of Business Development at Ohmeda, Inc., where he played an instrumental role in its $1.2 billion sale to a Baxter-led consortium by spinning out Ohmeda's inhaled nitric oxide assets to found INO Therapeutics, Inc. Under Palmer's leadership, as founding President and CEO, INO Therapeutics developed and commercialized the world's first selective pulmonary vasodilator, INOmax, establishing an orphan drug franchise subsequently acquired by Ikaria for $670 million.
Palmer says Tolera is "now poised to carefully consider its strategic options, evaluate the needs of prospective partners, and advance this novel therapeutic approach towards a market that appears ripe for the entry of an advantageous induction agent. Tolera also has a significant opportunity to advance its broader T-cell targeting therapeutic platform, especially with respect to autoimmune disease and cancer. Effective partnering will be the key to this endeavor."
Tolera is developing a drug that safely suppresses the immune system.
The drug is designed for patients who have received organ transplants. The company’s work could also have implications for therapies for autoimmune conditions, diabetes and some cancers.
Tolera has successfully completed clinical testing through Phase 2 and is ready to commence advanced stage clinical testing. The company has received approval through U.S. Food and Drug Administration (FDA) for a Phase 3 clinical trial comparing TOL101 to Thymoglobulin.
Writer: Kathy Jennings, Second Wave Media
Source: Tolera Therapeutics, Inc.
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