Rockville, Maryland (PRWEB) April 11, 2018
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, announced today that it has added Neela Chipalkatty to its Board of Directors.
Ms. Chipalkatty, who was also named as Otomagnetics’ lead investor, is a seasoned technology, business and real estate investment professional with over 30 years of operational experience in the biotechnology and pharmaceutical industries, during which time she led the implementation of quality systems at Bristol Myers Squibb, Barr Laboratories, Sandoz, and Reed & Carnrick, respectively.
Ms. Chipalkatty completed her Bachelor’s degree in Chemistry from Bombay University, and has a Master’s degree in International Law with a focus on Global Affairs from NYU.
“We are delighted to welcome Neela to our team,” commented Abhita Batra, CEO of Otomagnetics. “Neela’s extensive leadership and operational experience in the biotech industry will play a key role in our strategic growth, and the overall evolution of our company and solution pipeline.”
“Otomagnetics has a chance to bring real, meaningful change to patients, their families, and the healthcare industry as a whole,” commented Ms. Chipalkatty. “I strongly believe that the futuristic applications of Otomagnetics’ unique magnetic delivery system will help patients of all ages; especially children for whom magnetic delivery could treat chronic middle ear infections without surgery and protect hearing from chemo regimens. I look forward to helping the team successfully usher our ground-breaking drug delivery systems through the regulatory process.”
Otomagnetics’ drug delivery platform combines a proprietary magnetic injector with bio-degradable magnetic particles that are composed solely out of materials previously approved by the FDA for injection into the body, and 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 the Catalyst Venture fund to receive funding from a pool of more than 150 applicants.
For more information, visit http://otomagnetics.com.
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.