A major complication of drug treatment regimens is the significant side effects that are experienced by patients, particularly in the case of chemotherapeutic drugs where side effects are debilitating. To this end, Provectus Pharmaceuticals has developed a powerful drug pipeline of novel drug candidates that have minimal side effects, including a cancer drug that preferentially targets cancer tissue without harming surrounding healthy tissue, as well as a psoriasis drug that significantly reduces plagues without side effects. Provectus, a presenting company at OneMedForum NY 2011, utilizes the chemical agent Rose Bengal to actualize novel therapeutics indicated for the treatment of cancer, as well as the skin disorders Psoriasis and Atopic Dermatitis.
Business Development: For Pharmaceutical companies seeking to treat metastatic melanoma effectively and reduce mortality rates as well as those seeking treatment for Psoriasis and Atopic Dermatitis, a relationship with Provectus would prove beneficial and enable the company to bring drugs to the market efficiently. The company has $14 million in cash that is slated to carry them through 2013.
Many competitors in this field use traditional biochemistry approaches, agents that target particular pathways, or a genetic engineering approach. But Provectus uses a physical chemistry approach. They use a molecule, rose bengal, that has never been used before but has existed for decades that interacts on a physical chemistry basis.
Provectus’ Rose Bengal-based product candidates have potent therapeutic effects; specifically their proprietary cancer drug PV-10, which has received orphan drug designation for the treatment of melanoma and liver cancer, and is also currently in Phase I clinical trials indicated for the treatment of breast cancer. Receiving orphan drug designation entitles Provectus to exclusive marketing rights for PV-10 in the United States for up to seven years if it is the first company to receive marketing approval for this therapeutic drug product. Provectus’ skin disorder hydrogel drug, PH-10, is currently in Phase II clinical trials indicated for psoriasis and atopic dermatitis, and to date has shown a reduction in thickness of treated psoriasis plague areas of 59% after 30 days of treatment, with no significant side effects.
- PV 10 Melanoma:
- PH-10 Psoriasis
- PH-10 Atopic Dermatitis
- PV-10 Breast Cancer
- PV 10 Liver Metastasis
Provectus was founded in 2002 by a seasoned management team with extensive experience in early-stage healthcare companies. Principals Craig Dees, Tim Scott and Eric Wachter have worked together for more than 10 years, previously as founders of Photogen Technologies as well as at the Oak Ridge National Laboratory. CFO Peter Culpepper joined Provectus in February 2004, and has been COO since July, 2008.
Craig Dees, Ph.D.,the company’s CEO, has spent more than 20 years in senior management positions. His development record includes the first live viral vaccine produced by recombinant DNA technologies and the first recombinant antigen human diagnostic assay. Dees has also successfully licensed a number of proprietary cosmetic products. In addition to design and development activities, Dees has been responsible for business and market applications, regulatory affairs, and commercialization of human and veterinary medical products. Awards include an R&D 100 for an industrial enzyme, an Inventor’s Forum New Product Award for a skincare product, and a First Saber Award for outstanding research in virology. Dees holds a Ph.D. in molecular virology from University of Wisconsin, Madison. He earned his master of science degree in immunology from Auburn University, and his bachelor’s degree in microbiology from Brigham Young University.
Timothy Scott, Ph.D.,President of Provectus has served in senior management positions at Photogen Technologies, Inc.; Genase LLC; and the Oak Ridge National Laboratory. Awards include an R&D 100 for an industrial enzyme, the National Laboratory Consortium Award for Excellence in Technology Transfer, the Inventor’s Forum Advanced Technology Award, and the Martin Marietta Energy Systems Inventor of the Year Award. Scott also has served as adjunct associate professor of chemical engineering at the University of Tennessee, Knoxville. Scott holds a Ph.D. in chemical engineering from University of Wisconsin, Madison. He earned his bachelor’s degree in chemical engineering from the University of Tennessee.
Eric Wachter, Ph.D., Executive Vice President, has served in senior management positions at Photogen Technologies and the Oak Ridge National Laboratory. Awards include an R&D 100 for nanosensors, the Inventors Forum Advanced Technology Award, the Excellence in Research Award from the Oak Ridge National Laboratory, and an Upjohn Fellowship. Wachter holds a Ph.D. in chemistry from the University of Wisconsin, Madison and a bachelor’s degree in chemistry from Indiana University-Bloomington.
Peter R. Culpepper, CPA, MBA,CFO and COO of Provectus has spent 20 years in the financial field, especially with high-growth startups. His experience with for-profit companies ranges from private start-ups to publicly traded, global conglomerates. He also has worked with large non-profits and a national CPA accounting firm. He is licensed as a Certified Public Accountant in Maryland and Tennessee. His professional affiliations include the American Institute of Certified Public Accountants, Financial Executives International and the Financial Executives Networking Group. Culpepper holds a Master’s of Business Administration (MBA) in finance from the University of Maryland. He earned an AAS in Accounting from the Northern Virginia Community College – Annandale, Virginia. He earned a bachelor’s degree in philosophy from the College of William and Mary.