CHARLESTON, SC – February 6, 2009 – FirstString Research, Inc. a biotechnology company focused on the development and commercialization of therapeutics for scar prevention and tissue regeneration, announces the appointment of Jim McNab as executive chairman of the company.
New to FirstString, McNab will provide strategic business plan implementation and capital strategy alongside FirstString’s President and CEO, Gautam Ghatnekar, for the high-growth, high-tech start-up company. McNab earned an MBA from the University of North Carolina, Chapel Hill and a BA from Davidson College. He served in the U.S. Army in the Office of General William C. Westmoreland at The Pentagon.
He has more than 35 years of experience as a business executive, founder and manager of successful companies in emerging technologies in the biotechnology, energy and medical industries. He has a strong track record of moving newly-licensed products into the marketplace. Most recently, McNab was chairman of Argolyn Bioscience and still serves as a board member. Argolyn recently received additional venture capital financing. The company maintains R&D offices near the Medical University of South Carolina in Charleston.
FirstString Research was one of the first SC Launch companies to secure SC Launch funding. Both Argolyn and FirstString are recipients of early-stage investments from SCRA’s SC Launch and have subsequently obtained follow-on private capital funding.
“We are pleased and excited to have Jim on board at FirstString,” said Gautam Ghatnekar, Ph.D., FirstString President and CEO. “Jim has extensive experience and a great success record in biotech. He adds even more credibility to our team.”
“I look forward to implementing strategic direction for FirstString,” said McNab.” The company has an extremely robust product in clinical testing that has the opportunity to be the pinnacle in wound healing and regenerative medicine.”
Bio of James R. McNab
James R. McNab has served as Chief Executive Officer and Chairman of Palmetto Pharmaceuticals, Inc., formerly eNOS Pharmaceuticals, Inc., a privately-held drug discovery company of which he is a co-founder. In addition, Mr. McNab is a co-founder of other privately-held companies, including Curis, Incorporated, Sontra Medical Corporation, a drug delivery company, Parker Medical Associates, a manufacturer and worldwide supplier of orthopedic and sports-related products, and Vidus Ocular, Inc., an early-stage company developing a medical device for the treatment of glaucoma. Since July 2006, Mr. McNab has served as Director of Argolyn Bioscience, Inc., privately-held biopharmaceutical company. Mr. McNab received a B.A. in economics from Davidson College and an M.B.A. from the University of North Carolina at Chapel Hill.
About FirstString Research, Inc.
FirstString is a biotechnology company focused on the development and commercialization of therapeutics for scar prevention and tissue regeneration. There is a significant unmet medical need for the prevention of scarring resulting from surgeries and injuries. FirstString is endeavoring to meet that need by developing a class of compounds, which form the platform of this exciting technology.
FirstString’s proprietary therapies modulate intercellular communication to significantly reduce the development of scar tissue and, at the same time, improve the body’s ability to produce healthy, functional cells. The lead compound’s target is well expressed and has shown efficacy in many tissue types including the skin, spinal cord and internal organs.
FirstString’s first commercial product will be a topical gel for the prevention of scarring. Based on the consistent and positive early results, FirstString has already received regulatory approval in Europe to enter clinical phase testing. For further information, please visit http://www.firststringresearch.com/.
About SCRA http://www.scra.org/
SCRA is a global leader in applied research and commercialization services with offices in Anderson, Charleston and Columbia. SCRA collaborates to advance technology. SCRA provides technology-based solutions with assured outcomes on behalf of industry, government, and research universities like Clemson University, the University of South Carolina and the Medical University of South Carolina.
About SC Launch! http://www.sclaunch.org/
SC Launch, an SCRA collaboration, assists entrepreneurial start-up companies with up-front counseling, seed-funding, and access to a powerful resource network. The SC Launch! mission is to help generate knowledge economy jobs in South Carolina, enhance the state’s quality of life and provide opportunity for all South Carolinians in the new economy. For more information please visit http://www.sclaunch.org/.