Otomagnetics Adds Executives Dushyant Chipalkatty and Tony Yost to Scientific Advisory Board

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Mr. Chipalkatty and Mr. Yost will help guide Otomagnetics forward through all stages of the company’s early commercialization strategy.

Otomagnetics, a University of Maryland College Park spin-out that is developing a non-invasive method to effectively deliver drugs and other therapeutic payloads to hard-to-reach targets in the body, to ear compartments, to the eye, and into the skin, announced today that it has added two experienced and accomplished pharmaceutical and life science executives to its Scientific Advisory Board: Dushyant (“Chip”) Chipalkatty and Tony Yost.

Mr. Chipalkatty, who was named Chair of Otomagnetics’ Scientific Advisory Board, is the President of Global Business Development for PACK Pharmaceuticals, which he founded in 2005. He has over three decades of experience in the pharmaceutical technology field, including senior leadership roles with Morton Grove Pharmaceuticals and Carter-Wallace, respectively. He also holds a Master’s Degree in Pharmaceutical Sciences from Rutgers University.

“I am pleased to join Otomagnetics’ Scientific Advisory Board, and I look forward to helping the company continue moving forward with its pre-clinical and clinical programs, and go through the required scientific and regulatory and business milestones,” commented Mr. Chipalkatty.

Mr. Yost most recently served as Chief Commercial Officer for Otonomy Inc. where he was responsible for the global launch preparation and commercialization of all pipeline products. Prior to that he held executive roles with Prometheus Labs (a Nestle Health Sciences Company), and Novartis Pharmaceuticals where he served as General Manager for the company’s Western U.S. Operating Unit. He also holds a Bachelor of Science Degree in Pharmacy from Purdue University.

"I am excited about this opportunity to work with the team at Otomagnetics and the other members of their Scientific Advisory Board as the company moves forward with its non-invasive, magnetic drug delivery system,” commented Mr. Yost. “I look forward to helping Otomagnetics as they consider strategic options relative to product development and commercialization, particularly as they explore potential applications in the middle and inner ear."

Commented Abhita Batra, CEO of Otomagnetics: “Chip is an operations guru and with a vast amount of experience launching and developing healthcare enterprises, and Tony has unique expertise at the intersection of business development, reimbursement, and ear delivery. We are fortunate to have them on our Scientific Advisory Board, and rely on the guidance, knowledge and vision to move forward through all stages of our early commercialization strategy.”

Otomagnetics’ drug delivery platform combines a proprietary magnetic injector with bio-degradable magnetic particles that are composed solely out of materials approved by the FDA for injection into the body, which can essentially carry any therapy including drugs, proteins, or genes. The company has generated interest from multiple pharmaceutical firms, and earlier this year it was one of six startups selected by AngelMD and Catalyst Venture fund to receive funding from a pool of more than 150 applicants.

For more information, visit http://otomagnetics.net.

About Otomagnetics

Otomagnetics is developing a patient-centric non-invasive method to effectively deliver drugs and other therapeutic payloads to hard-to-reach targets in the body, to ear compartments, to the eye, and into the skin.

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Abhita Batra, Chief Executive Officer
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