Corporate Banner
Satellite Banner
Stem Cells, Cellular Therapy & Biobanking
Scientific Community
Become a Member | Sign in
Home>News>This Article

Molecular Insight Pharmaceuticals, Inc. Elects a New Board of Directors

Published: Wednesday, February 29, 2012
Last Updated: Wednesday, February 29, 2012
Bookmark and Share
The new Board will support the Company’s strategic focus on the discovery, development, and commercialization of radiopharmaceuticals for molecular imaging and targeted radiotherapy of prostate cancer.

Members of the new Board of Directors include:

•    Nelson K. Stacks, President and Chief Executive Officer of Wave Guide Technology, a medical diagnostic company with the first-of-its-kind hand-held Nuclear Magnetic Resonance machine to diagnose cancer and other infectious disease states at point of care. Mr. Stacks will serve as Executive Director of the Board.
•    Patrick Boyce, Partner and Chief Operating Officer of Highland Capital Management, L.P., one of the largest and most experienced global alternative credit managers.
•    Barry R. Frankel, Managing Director of Frankel Group LLC, a management consulting firm that provides strategic and transactional advisory services to the global life sciences industry and growth equity/banking firms servicing the industry.
•    Leslie D. Michelson, Chairman of the Board and Chief Executive Officer of Private Health Management, Inc., which provides a retainer-based service to coordinate the provision of their highest quality preventive, diagnostic, therapeutic, and emergency care services for patients around the world. Previously, Mr. Michelson served as Chief Executive Officer of the Prostate Cancer Foundation, the world’s largest source of philanthropic support for prostate cancer research.
•    Lewis J. Shuster, Chief Executive Officer of Shuster Capital, a strategic and operating advisor to life science company executives and investors with a focus on contract services, lab reagents and instruments, clinical diagnostics, and selected medical devices.

“The election of a new Board of Directors is a major step as we direct the Company‘s strategy toward a multi-faceted prostate cancer initiative,” said Dr. John W. Babich, President, Chief Scientific Officer and founder of Molecular Insight. “The deep and relevant experience of each of these individuals will provide us with invaluable insights and guidance as we move forward with the advancement of a prostate program targeting both detection and therapy. I am especially pleased with the addition of Nelson Stacks as Executive Director whose depth and breadth of operational and financial experience will help us to create outstanding value as we re-focus the organization on improved financial performance and expanded partnership opportunities.”

On May 20, 2011, the Company emerged from Chapter 11 as a private company reincorporated in Delaware. The Company was restructured with a new credit facility of $40 million.

As part of its restructuring, Molecular Insight is focusing its efforts on developing novel ways of imaging prostate cancer and its metastatic invasion and on new approaches for treating this disease, a leading cause of death in men in the U.S. and worldwide. Current imaging technology for assessing the presence and degree of metastatic disease, such as CT and MRI scans, is less than ideal because it relies upon the recognition of ‘‘enlarged’’ lymph nodes to which it is neither sensitive nor specific. Bone scans for detection of metastatic invasion of the skeleton although sensitive, suffer from lack of specificity as fractures and degenerative changes can also present as positive bone lesions. The Company’s goal is to advance its innovative radiolabeled small molecules for imaging and therapeutic applications to address these unmet clinical needs.

In its research to date, the Company has demonstrated the ability to effectively target prostate cancer via a platform of small molecules that specifically bind the enzymatic domain of prostate specific membrane antigen (PSMA), a protein found at high levels in primary and metastatic prostate cancer. In its initial clinical studies, the Company has demonstrated the potential of its 99mTc-labeled compounds (MIP-1404 and MIP-1405) to improve visualization of prostate cancer in the prostate gland as well as in soft tissue and bone, when compared to standard-of-care imaging. The Company and its expert panel of scientific advisors believe that the molecular imaging of prostate cancer using its small molecule platform offers a more accurate means of detecting prostate cancer so that urologists, radiation oncologists, medical oncologists, and patients can make more informed treatment choices.

This small molecule platform has also been leveraged to develop a series of targeted radiotherapeutics for the treatment of recurrent or metastatic prostate cancer. Radiation therapy is commonly used in prostate cancer and Molecular Insight is developing its novel radiopharmaceutical, 131I-MIP-1466, as part of a platform to deliver targeted radiotherapy directly to prostate cancer spread throughout the body.

Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,700+ scientific posters on ePosters
  • More than 3,800+ scientific videos on LabTube
  • 35 community eNewsletters

Sign In

Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Molecular Devices Forms Scientific Advisory Board
Multidisciplinary team will guide product and application development to deliver maximum value to customers.
Thursday, December 27, 2012
Scientific News
Biomarker Predicting Transplant Complications May be Key to Treating Them
A protein that can be used to predict if a stem cell transplant patient will suffer severe complications may also be the key to preventing those complications, an international research team based at the Indiana University School of Medicine reported Wednesday.
Snapshot Turns T Cell Immunology on its Head
New research may have implications for 1 diabetes sufferers.
Developing a Gel that Mimics Human Breast for Cancer Research
Scientists at the Universities of Manchester and Nottingham have been funded to develop a gel that will match many of the biological structures of human breast tissue, to advance cancer research and reduce animal testing.
Lung Repair and Regeneration Gene Discovered
New role for hedgehog gene offers better understanding of lung disease.
Restoring Vision with Stem Cells
Age-related macular degeneration (AMRD) could be treated by transplanting photoreceptors produced by the directed differentiation of stem cells, thanks to findings published today by Professor Gilbert Bernier of the University of Montreal and its affiliated Maisonneuve-Rosemont Hospital.
The Age of Humans Controlling Microbes
Engineered bacteria could soon be used to detect environmental toxins, treat diseases, and sustainably produce chemicals and fuels.
Gene Expression: A Snapshot of Stem Cell Development
New genes found that regulate development of stem cells.
Tissue-Engineered Colon from Human Cells
A study by scientists at Children’s Hospital Los Angeles has shown that tissue-engineered colon derived from human cells is able to develop the many specialized nerves required for function, mimicking the neuronal population found in native colon.
Tension Helps Heart Cells Develop Normally in the Lab
Stanford engineers have uncovered the important role tension plays in growing heart cells out of the body.
Urine Excretion From Stem Cell-Derived Kidneys
Researchers report a strategy for enabling urine excretion from kidneys grown from stem cells.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,700+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos