Receptor BioLogix Names Veteran Life Sciences Executive Dale R. Pfost as Chief Executive Officer

PALO ALTO, Calif.--(BUSINESS WIRE)--Receptor BioLogix, Inc., today announced the appointment of Dale R. Pfost, Ph.D., as chief executive officer. Concurrent with the appointment of Dr. Pfost, current investors committed an additional $6 million to the company in an equity and debt financing. Receptor BioLogix is developing novel therapies for cancer and other diseases based on its expertise in HER cancer biology and in developing receptor-based biological therapeutics.

“Dale’s business and organizational acumen combined with our deep understanding of the biology of the HER system make this an exciting time for the company. We look forward to the rapid progress of our pan-HER ligand trap program under Dale’s leadership.”

“I joined Receptor BioLogix based on the promise of our pan-HER technology to produce novel anti-cancer therapies that can overcome the limited efficacy of current treatments,” said Dr. Pfost. “Our approach is founded on the recognition that many cancers are driven by dynamic and complex signaling networks. Our pan-HER ligand traps have demonstrated their ability in preclinical models to disrupt these networks and inhibit the growth and spread of tumors. I look forward to working with our outstanding team to advance these promising compounds.”

Dr. Pfost most recently was chairman, president and CEO of Acuity Pharmaceuticals, an ophthalmics company that was a pioneer in developing drugs based on the gene silencing technology of RNA interference. He led Acuity from start-up through the completion of Phase II trials in less than four years, merging it into publicly traded OPKO Health, Inc. in 2007. Previously, Dr. Pfost was chairman, president and CEO of Orchid Biosciences, Inc., where he oversaw the company’s IPO and managed its successful repositioning as a leader in the genetic testing field. Earlier, Dr. Pfost served as president and CEO of glycobiology and proteomics firm Oxford GlycoSciences, Ltd., which was later acquired by Celltech plc.

“Dale’s record of success in growing life sciences enterprises makes him an ideal choice to lead Receptor BioLogix as the company focuses on its pan-HER anti-cancer program,” said Jeffrey Himawan, Ph.D., a director of Receptor BioLogix and managing director of Essex Woodlands Health Ventures. “Dale’s demonstrated ability to develop innovative technologies rapidly and cost effectively will be put to good use as we progress the pan-HER ligand trap program and pursue initiatives to better realize the value of Receptor BioLogix’s assets.”

Dr. Pfost began his career as founding president of Infinitek, developer of the Biomek 1000 robotic laboratory workstation, which was later acquired by SmithKline Beckman. Dr. Pfost holds a B.S. in physics from the University of California, Santa Barbara and a Ph.D. in physics from Brown University.

Receptor BioLogix’s chairman and former CEO, Thomas A. Glaze, noted, “Dale’s business and organizational acumen combined with our deep understanding of the biology of the HER system make this an exciting time for the company. We look forward to the rapid progress of our pan-HER ligand trap program under Dale’s leadership.”

About Pan-HER Ligand Traps

The complex HER system, comprised of four receptors and 11 known receptor-activating ligands, is dysregulated in about half of all solid cancers. It includes validated cancer targets — both Herceptin® and Erbitux® target HER family receptors. These drugs represent advances in cancer treatment, but many patients receiving them develop resistance and eventually relapse. This reflects the fact that tumor growth in these cancers is affected by complex compensatory signaling networks among the HER receptors and their ligands, so the inhibition of one family member can lead to the upregulation of others, increasing production of the growth factors that stimulate the growth and spread of tumors. Receptor BioLogix’s unique pan-HER ligand traps, also known as Hermodulins^TM, are novel fusion proteins that broadly target these tumor-promoting ligands, thereby effectively blocking the compensatory mechanisms of the HER system. Pan-HER ligand traps have shown promising anti-cancer activity in preclinical studies and are in pre-IND development

Receptor BioLogix management will be presenting at the BIO Investor Forum conference at the Palace Hotel in San Francisco at 3:15 pm PDT on October 30, 2008.

About Receptor BioLogix

Receptor BioLogix is applying its expertise in human EGF receptor (HER) pathways and receptor-based biologics to develop novel pan-HER ligand traps for cancer and other diseases. The company’s pan-HER ligand traps are designed to inhibit the compensatory feedback mechanisms that limit the efficacy and durability of many cancer drugs. In preclinical studies, Receptor BioLogix’s pan-HER ligand traps have demonstrated promising anti-cancer potential. The company also is developing its Intron Fusion Protein platform for the discovery of novel, naturally occurring alternative forms – splice variants – of human proteins with therapeutic potential. For more information, visit www.rblx.com.