Building Success upon Failure
Tom Tritton, Moderator
After a brief introduction by all the panelists the forum will be opened to questions and will encourage audience participation.
Nigel H. Greig — Improving the Odds
Nigel Greig heads the Drug Design & Development Section within the Intramural Research Program, National Institute on Aging, and designs novel compounds to both elucidate disease mechanisms and treat neurological conditions associated with aging, He is an inventor of many new chemical entities, some of which have been developed into the clinic. He will talk about how he improves the odds of his compounds having a shot at becoming drugs.
William Wong — The Third Attempt at Making Drugs
For more than a decade TREVENTIS's scientific founder Donald F. Weaver, M.D., Ph.D., has focused his research on the development of drugs that halt the progression of Alzheimer’s disease. The pitfalls of rapid drug development were further confounded by the way plaques and tangles cause neuronal loss in Alzheimer’s patients and by a failed Phase III trial. In the third attempt at making drugs that inhibit the progression of Alzheimer’s, the story ends at TREVENTIS. Bill Wong will talk about the discovery of a new drug target present on all Alzheimer’s disease–related proteins, providing renewed hope of success.
Maria L. Maccecchini — QR Pharma Inc.
The second company on the panel, which also believes that it can capitalize on failure, is QR Pharma, Inc. It was founded to develop novel treatments for Alzheimer’s disease. Out of three compounds that were originally designed and put into development, the first and most advanced one failed in the clinic. Its behavior in the body and especially in the brain was not well understood, and the patients were not treated with the right dose and formulation. Maria Maccecchini from QR Pharma believes that the company can learn from the failure of the first compound and make the second and third compounds in the pipeline successful.
Jennifer Hartt — Investing in Very High-Risk Biotechnology Companies
Jennifer Hartt from Ben Franklin Technology Partners of Southeastern PA has developed guidelines by which she and her collaborators score the risk of biotechnology companies and relate it to the potential benefit not only in terms of return on investment but also in terms of job creation and benefit to humanity.
About the Panelists

Thomas R. Tritton |
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Thomas R. Tritton
President and CEO, Chemical Heritage Foundation
Thomas R. Tritton is the second president of CHF, succeeding Arnold Thackray, who founded the organization in Philadelphia in 1982. Tritton served as the twelfth president of Haverford College from 1997 to 2007. He is a cancer chemotherapy research expert with over 150 publications and whose work was continuously funded by the American Cancer Society and the National Institutes of Health. Before Haverford he was a professor of pharmacology for twelve years each at Yale University and the University of Vermont. At UVM he also served as deputy director of the Vermont Comprehensive Cancer Center—a Designated Center of the National Cancer Institute—and as vice provost of the university. In 2007, before assuming the CHF presidency, Tritton was at Harvard University, where he held the title of "president in residence" at the Graduate School of Education. He worked with graduate students in higher education, wrote and taught about leadership and the college presidency, and also designed a new course on "Social Justice." Tom earned a bachelor of arts degree from Ohio Wesleyan University and a Ph.D. from Boston University.
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Nigel Greig |
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Nigel H. Greig
Senior Investigator, Chief, Drug Design and Development Section, Laboratory of Neurosciences, National Institute on Aging (NIA), National Institutes of Health
Nigel Greig was trained as a pharmacologist with a background in medicinal chemistry and physiology. He gained his Ph.D. from the University of London, specifically from the pharmacology department of the Royal College of Surgeons, England. Leaving the cancer chemotherapy department of the Imperial Cancer Research Fund, London, he joined NIA in 1982. His initial studies focused on optimizing the delivery to and action of drugs within the brain. Leaving NIA in 1989, Greig was involved in the initiation of the successful California biotechnology company, Athena Neurosciences, now Elan Pharmaceuticals. The company was launched on technology from Greig’s program. Returning to NIA as a tenured scientist in 1991, his research has evolved into his present interest, the design and development of drugs and diagnostics for the treatment of neurodegenerative diseases, with particular emphasis on Alzheimer’s disease, and of type 2 diabetes. He heads the Drug Design and Development Section of the Laboratory of Neurosciences that extensively collaborates within NIA, academia, and industry. This collaboration has resulted in the development of several agents from concept in the laboratory, through the required U.S. Government regulatory requirements, to the bedside. Patents covering a variety of novel compounds of clinical interest have now been licensed from the NIA to industry and are in preclinical and clinical development, and new research within his program is providing both publications and patent applications to support potential drugs of the future. |

William Wong |
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William Wong
Chief Scientific Officer and Head, Project Management, TREVENTIS Corporation
William Wong is a twenty-five-year veteran of the pharmaceutical, biotechnology, and medical device industries. At TREVENTIS and at his previous position at Neuro-Hitech, Inc., he was responsible for discovery research and clinical development of drugs for Alzheimer’s disease. Over his career he has served as a senior manager at Becton-Dickinson Corporation, E. I. DuPont Company, Zynaxis, Inc., Intracel Corporation, Nexell Therapeutics, Inc., and Lynx Therapeutics, Inc. Wong received his Ph.D. under Frank E. Young, M.D., Ph.D., from the University of Rochester School of Medicine.
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Maria L. Maccecchini |
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Maria L. Maccecchini
Founder, President, and CEO, QR Pharma, Inc.
Maria Maccecchini received her Ph.D. in biochemistry from Rockefeller University and spent two years at the California Institute of Technology as a postdoc in molecular biology. She took her first job at Mallinckrodt as a research scientist and her second job as general manager of Bachem Bioscience, a U.S. subsidiary of a Swiss company. In the early 1990s she started her own biotech company—Symphony Pharmaceuticals. After acquiring a Scottish and a Japanese company, Symphony later changed its name to Annovis. The company develops, manufactures, and markets a variety of nucleic acid–based products and services for businesses in the life-sciences sector. In 2001 Annovis was acquired by Transgenomic, Inc.
After the sale of her company Maccecchini joined two angel groups—Robin Hood Ventures and Mid-Atlantic Angel Group. She mainly invests in the life-sciences sector: biotechnology, diagnostics, and medical devices. She serves on boards of several biotechnology companies; organizations that promote entrepreneurship, international trade, and women; charitable organizations; and Robin Hood Ventures. Maccecchini does not only invest dollars in early-stage companies; she also mentors them in start-up, strategy, management, and finance. In May 2008 Maccecchini started her second company, QR Pharma, with clinical-stage technology licensed from NIH/Torrey Pines. The company is developing two therapeutics for Alzheimer’s disease: both may stop the progression of the disease, while one targets early-stage Alzheimer’s and the second one targets late-stage disease.
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Jennifer Hartt |
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Jennifer Hartt
Director, Life Science Investments, Ben Franklin Technology Partners of Southeastern PA
Jennifer Hartt is director of Investments, Life Sciences, at Ben Franklin Technology Partners of Southeastern PA (BFTP). Jenn joined BFTP in late 2005 after nearly five years working in technology commercialization and equity portfolio management at the University of Pennsylvania, in Treasury and the Center for Technology Transfer, where she was associate director of business development and equity. BFTP was established in 1982 to stimulate economic growth through innovation, entrepreneurship, and the development and adoption of new technologies. BFTP provides capital and expertise in technology, finance, and business to help entrepreneurs and established businesses overcome challenges and plan for growth. Jenn directs all the BFTP life-sciences investments in those early-stage companies, with technologies ranging from medical devices and diagnostics to therapeutics. Earlier life-sciences BFTP investments included Immunicon, Adolor, and ViroPharma. Younger portfolio companies representing more recent investments include such companies as NuPathe, Protez, Topaz, LumenVu, and BioNanomatrix. Jenn holds or has held a nonvoting board-observer position on many portfolio company boards, including for the twenty-one companies in which she has closed twenty-eight investments since coming to BFTP.
Jenn holds a bachelor’s degree, graduating summa cum laude and Phi Beta Kappa, as well as a master’s degree in biology, both from the University of Pennsylvania. She has previous experience in lab research, business consulting, licensing, and equity management. She has been active as a member in the Licensing Executive Society and has been an invited conference speaker nationally and internationally—for example, at Association of University Technology Managers events and at BIO—on the subjects of financial modeling of partnerships and licensing, valuation, and start-ups. Jenn is involved in many regional activities in technology education and commercialization: for example, being on a science curriculum audit committee, evaluating business plans such as in certain M.B.A. courses, judging entrants in the Eastern Technology Council Enterprise Awards, mentoring students, and representing her organization on the oversight committee for Coulter funding of translational research at Drexel University.
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About the Joseph Priestley Society
The Joseph Priestley Society of CHF was founded in 2002 to promote a deeper and more reflective understanding of important scientific, technological, and industry developments. The society has a special orientation to issues involving innovation and entrepreneurship. Members are experienced, senior individuals from a wide variety of large and small chemical companies, and also from the financial, consulting, and academic communities.
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1. Statue of Joseph Priestley with small burning glass in hand, sculpted by A. W. Williamson, 1874, reproduction. From the Chemists' Club Collection, CHF. Photo by Gregory Tobias.
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