Company joins NY BioHud Valley as one of its founding members
New Windsor, N.Y. (August 11, 2011) – ContraFect Corporation, the biotechnology company that is pioneering the use of recombinant proteins for the treatment of drug resistant infections, is forming a close relationship with Hudson Valley Economic Development Corp. and NY BioHud Valley.
Dr. Robert Nowinski, founder, CEO and Chairman of ContraFect, which is based in Yonkers, has been named as a board member of HVEDC. ContraFect has been named as one of NY BioHud Valley’s founding members.
Nowinski founded seven biotechnology companies. He subsequently brought four of these companies public through an IPO financing. In each company, he has held the executive position(s) of CEO and/or the chairman of the board. In each business he set the direction, acquired the initial technology, recruited key management, and provided oversight for the research programs. Three of the public companies have been acquired by major pharmaceutical companies: Genetic Systems in 1987 for $310 million by Bristol-Myers; PathoGenesis in 2000 for $660 million by Chiron/Novartis; and Icos in 2006 for $2.2 billion by Eli Lilly. Collectively, these companies have developed and marketed eight diagnostic tests and two therapeutic drugs (Cialis for Erectile Dysfunction and TOBI the leading drug for Cystic Fibrosis) with annual sales exceeding $3.0 billion.
HVEDC is the leading economic development agency for the seven-county region that includes Westchester, Putnam, Dutchess, Rockland, Orange, Ulster and Sullivan counties. Founding members of NY BioHud Valley support the unifying efforts by the biotech industry in the Hudson Valley. The campaign is designed to reinforce that the Hudson Valley is the epicenter of the biotech industry in New York.
“We are happy to support HVEDC and the NY BioHud Valley,” Nowinski said. “We have found our new home in Westchester County to be a great place to expand and grow our business. We enjoy the scientific community in the Hudson Valley and have access to many of our current collaborators here. So, it was a natural fit to be a founding member of NY BioHud Valley.”
Hudson Valley Economic Development Corporation recognizes the area as a growing cluster of biotech/pharmaceutical companies located in the lower Hudson Valley region. The NY BioHud Valley partners with the county, state and federal government to provide an environment that allows these businesses to expand while also attracting new businesses into the region by showcasing the existing infrastructure. The Hudson Valley provides a highly educated workforce, proximity to world-class research, ready access to venture capital and competitive real estate opportunities. In addition NY BioHud Valley creates a pro-business advocacy campaign designed to reduce legislative burdens, foster collaboration among our biotech/pharmaceutical companies and educational institutions, and assist companies with access to venture capital.
“Dr. Nowinski and his team at ContraFect are exactly the type of innovative companies that HVEDC is working to attract to our region,” said Mike Oates, CEO and President of the HVEDC. “We are excited to have Robert join our Board of Directors. His business experience and skill sets will be a huge asset for our board. Robert will help us continue to grow NY BioHud Valley, which has become the epicenter of the biotech industry in New York. We couldn’t be happier to have him assist us in our mission.”
Other founding members are: Acorda Therapeutics, Astellas Pharma US Inc., Aureon Biosciences Inc., BioMed Realty Trust Inc., C.W. Brown Inc., IBM, M&T Bank, Morgan Stanley Smith Barney, National RE/Sources, New York Medical College, Better Homes and Gardens Real Estate – Rand Commercial Services, Regeneron and TD Bank.
About ContraFect:
ContraFect Corporation is a biotechnology company pioneering the use of monoclonal antibodies and lysins to treat life-threatening infectious diseases. ContraFect’s initial products include agents to treat diseases such as MRSA (drug resistant staphylococcus bacteria), other serious bacterial infections, and influenza.
Our scientific approach is based on the following principles:
- Monoclonal antibodies for the treatment of life threatening bacterial and viral diseases
- Lysins for the treatment of drug-resistant gram positive bacteria, such as staphylococcus (MRSA), streptococcus and intestinal infections
- Transition from conventional monotherapy to a combinatorial approach using multi-therapy antibody and Lysin treatments
- Address the growing challenge of drug resistance and therapy escape mechanisms used by pathogens
About Hudson Valley Economic Development Corporation (HVEDC):
HVEDC represents seven counties in Hudson Valley. This public-private partnership markets the region as a prime business location to corporate executives, site selection consultants and real estate brokers. HVEDC also helped start the branding and promotional effort for NY BioHud Valley. For more information on Hudson Valley Economic Development Corporation or to review available business sites, visit www.hvedc.com or call CEO Mike Oates at 845-220-2244.
