Olatec Therapeutics appoints Dr. Craig Basson to its Board of Directors

– USA, NY –  Olatec Therapeutics LLC, a leader in the developing class of selective NLRP3 inhibitors, today announced the election of Dr. Craig Basson (MD, Ph.D.) to its Board of Directors.

“We are very pleased to have Craig join our Board. Craig brings to Olatec deep, proven expertise in translational medicine and an impressive track record in drug development directly relevant to our field of inflammation therapeutics. Craig will undoubtedly make valuable contributions to the development journey of dapansutrile and our OLT Analogues.” said CEO and Chairman, Damaris Skouras.

About Dr. Craig T. Basson

A veteran of both large pharmaceutical and biotechnology companies, Dr. Basson served as CMO, Global Head of Research and Development and/or interim CEO of Boston Pharmaceuticals, Inc., between February 2020 and August 2022 when he became an advisor to the Board of Directors. At Boston Pharmaceuticals, Dr. Basson led the acquisition and development of a broad pipeline of innovative drug candidates into the clinic.

In the preceding decade, Dr. Basson served as the Global Head of Translational Medicine for the Cardiovascular and Metabolic Therapeutic Areas at the Novartis Institutes for Biomedical Research in Cambridge, MA. Leading a team of physicians with expertise in translational medicine, Dr. Basson oversaw more than 10 successful clinical studies and supported the development of Entresto™, licogliflozin, iscalimab and abelacimab, among other novel medicines, for patients suffering from cardiovascular disease, diabetes and metabolic disorders. Dr. Basson’s experience in drug development synergizes with Olatec’s focus in inflammation, since his work at Novartis advanced clinical programs for the anti-IL-1β biologic, canakinumab, into multiple disease areas and supported translational studies in the landmark CANTOS trial.

Prior to joining Novartis, Dr. Basson was the Gladys and Roland Harriman Professor of Cardiology and Internal Medicine at Weill Cornell Medical College, whose faculty he joined in 1997. He completed his BA and MA at Washington University in St. Louis, MO and received an MSc in Physiological Sciences from the University of Oxford as a Marshall Scholar. Dr. Basson holds an MD and PhD from Yale University. He completed his residency in Internal Medicine at Johns Hopkins Hospital and his clinical Cardiology fellowship and postdoctoral Cardiovascular Genetics fellowship at Harvard University and the Brigham and Women’s Hospital. Dr. Basson is an elected member of the American Society for Clinical Investigation and a Fellow of the American Heart Association and of the American College of Cardiology. Currently, Dr. Basson is a Senior Lecturer at Harvard Medical School and an attending physician at Brigham and Women’s Hospital, while also serving on scientific advisory boards.

Dr. Basson commented: “I am thrilled to contribute to Olatec’s development of lead compound, dapansutrile – starting in gouty arthritis and to realize [dapansutrile’s] potential to translate the science of the NLRP3 inflammasome in multiple disease areas. I am confident in Olatec’s ultimate ability to deliver this important medicine globally to the many patients suffering from inflammatory diseases.”

About Olatec Therapeutics LLC

Olatec is a privately held, clinical-stage biopharmaceutical company developing a platform of oral NLRP3 inhibitors to treat and prevent a broad spectrum of acute and chronic inflammatory diseases known to be mediated by IL-1. In addition to the lead compound, dapansutrile, Olatec’s platform of proprietary compounds includes approximately 60 analogues (OLT Analogues) being screened as viable drug candidates. An IP portfolio protecting Olatec’s compounds consists of over 130 patents granted, covering dapansutrile and OLT Analogues. Olatec’s drug development team is comprised of experienced management and international experts in translational medicine with unparalleled expertise in inflammation and immunology and has been involved in the discovery and development of first-line inflammation treatments in the market today.

For more information : http://www.olatec.com/

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