by Mark Carter
Posted 7/16/2013 02:33 pm
Updated 9 months ago
Fayetteville pharmaceutical development firm BiologicsMD has named David Owens its first CEO.
BiologicsMD is a portfolio company of VIC Technology Venture Development, which had previously managed its operations.
Most recently, Owens was chief business officer for Novira Therapeutics, an antiviral drug discovery company based in Doylestown, Pa. In March, Novira completed a $25 million Series A financing round.
BiologicsMD has developed an osteoporosis treatment, PTH-CBD, that binds to the bone and stimulates new bone growth.
"I’m very excited to join the BiologicsMD team at this very important stage in advancing the company's lead development drug, PTH-CBD, towards the clinic," Owens said in a news release. "The team and the board have done an excellent job of getting the technology to the pre-clinical stage. Now we will prove that PTH-CBD is a novel and important new tool in treating human disease."
Calvin Goforth, chairman of the BiologicsMD board and president of VIC, said the addition of Owens as CEO will guide the company into its next stage of development and enable it to gain strategic partnerships.
BiologicsMD, located at the Arkansas Research & Technology Park and an Arkansas Science & Technology Authority firm, was founded in 2010. In addition to raising private equity, it received a $2.3 million research contract from the U.S. Department of Defense in 2011.