DisperSol Names Dr. Edward M. Rudnic as CEO, RCT Leads $12 Million Funding Round
DisperSol Names Dr. Edward M. Rudnic as Chief Executive Officer, RCT Leads $12 Million Funding Round
GEORGETOWN, TX, November 9, 2016 – DisperSol Technologies LLC announced today that as part of a planned succession process its Board of Directors has appointed Dr. Edward M. Rudnic as its Chief Executive Officer, succeeding Dr. Gershon Yaniv, who is retiring but shall remain a member of the Board. DisperSol has also this year closed a $12 million round of financing led by RCT Ventures.
“Gershon founded DisperSol in 2007 and has done a tremendous job in leading it to where it is now in 2016. We cannot thank him enough for his vision and what has been accomplished,” said Shaun Kirkpatrick, Chairman of the Board, DisperSol Technologies and President, RCT Ventures. “We have successfully concluded the search for his successor and are delighted to announce the appointment of Dr. Ed Rudnic to lead DisperSol into the next phase of its growth. Ed is an accomplished business executive and formulation scientist with a tremendous track record in the development and launch of new products.”
Dr. Rudnic has over 30 years of experience in the development of novel pharmaceutical products and the management of development teams and companies. Most recently, Dr. Rudnic has served as the Chief Executive Officer of QRx Pharma. He was the founder, Chairman and CEO of MiddleBrook(Advancis) Pharmaceuticals, where he invented and led the development of an FDA-approved, anti-infective product (Moxatag®) and also took the company public. Prior to founding MiddleBrook, Rudnic was Senior Vice President, Development and Technical Operations for Shire Laboratories, where he led U.S. research and development for the company and was the lead inventor of Carbatrol/Equetro with cumulative sales of more than $1 billion to date; and co-inventor of Adderall XR® with cumulative sales of more than $16 billion to date. Dr. Rudnic has also served in management roles at Merck/Schering-Plough and Bristol Myers-Squibb. He is an inventor on 54 issued U.S. patents and numerous related international patents in areas of novel drug delivery systems, solid dosage form research, process development and polymer/material science. Dr. Rudnic holds a B.S. in Pharmacy, a M.S. in Pharmaceutics and a Ph.D. in Pharmaceutical Sciences from the University of Rhode Island.
“It is with great excitement and pleasure that I join the DisperSol team,” said Dr. Rudnic. “DisperSol’s technology platforms have proven capable of solving previously intractable formulation challenges for its pharma partners and are leading to the launch of drug products that would otherwise be impossible.”
DisperSol is also pleased to announce the company has successfully raised $12 million in equity funding, led by RCT Ventures with participation from Acadia Woods Partners and other existing investors. The funding will support an expansion of preclinical and early clinical development of two more newly identified drug products in the company’s pipeline. Said Mr. Kirkpatrick, “2016 has been a transformative year for DisperSol as it has evolved from a company developing a technology platform to a company applying this platform to novel products in preclinical and clinical development. RCT and other investors remain committed to realizing the full potential of DisperSol’s novel formulation platform and believe that Ed Rudnic’s experience in drug development will propel DisperSol’s products and partnerships to the next commercial stage.”
DisperSol is an innovator in the formulation development and manufacture of pharmaceutical drugs. DisperSol’s KinetiSol® technology has proven capable of achieving dramatically greater drug solubility enhancement, permeability enhancement and drug loading than other currently available technologies. This has enabled the successful formulation of insoluble drugs of significant clinical promise that would otherwise have no development path forward to patients. KinetiSol® is a patent protected manufacturing method that is efficient, cost-effective and can generate new market exclusivity even for off-patent drug products.
DisperSol’s ArmoRx® platform is a highly flexible technology platform that works with the broadest palate of available excipients in industry to create pharmacokinetically customized abuse deterrent formulations of pharmaceuticals that are subject to abuse.
DisperSol commercializes the KinetiSol® and ArmoRx® platforms through a combination of external partnerships and internal drug development programs. For more information, visit www.dispersoltech.com.
Vice President, Business Development & Marketing