Experienced Executive to Lead Personalized Medicine Company In Next Phase of Growth
Burns comes to AssureRx with more than 30 years of executive experience in the strategic management of science and technology for pharmaceutical, diagnostic, and biotech companies. Most recently, he was president and CEO of Maryland-based EntreMed Inc., a public clinical-stage pharmaceuticals company developing drugs for the treatment of cancer and inflammatory diseases.
Previously, he was a co-founder and president of MedPointe Pharmaceuticals Inc., a specialty pharmaceuticals company that develops, markets, and sells branded prescription pharmaceuticals. He also was founder and managing director of MedPointe Capital Partners, a private equity firm that led the buyout of a New York Stock Exchange Company to form MedPointe Pharmaceuticals.
Mr. Burns was also a founder, chairman, president and CEO of Osiris Therapeutics Inc., a public biotech company developing therapeutic stem-cell products for the regeneration of damaged or diseased tissues. Previously, he was a founding general partner of Healthcare Ventures LP, a venture capital partnership specializing in forming companies built around new pharmaceutical and biotechnology products; a group president at Becton Dickinson and Co.; and a partner at Booz Allen Hamilton, a global strategy and technology consulting firm.
“We are thrilled to have a person of Jim’s caliber leading the company into the next phase of its growth. His depth and breadth of experience as CEO of successful early-stage health care companies positions AssureRx for the continued leadership in the rapidly expanding field of personalized medicine,” said John C. McIlwraith, chairman of AssureRx and managing director of Blue Chip Venture Co.
Commenting on the significant potential of personalized medicine, Burns noted that “AssureRx represents an exciting opportunity to bring cutting-edge pharmacogenetic science and informatics together into practical use for the benefit of behavioral health patients. The company’s first product will be GeneSightRx(TM), a lap-developed test which uses cutting-edge technology to measure and analyze several important genetic variants in psychiatric medicine. The results of the report can help a doctor understand the way a patient’s unique genetic makeup may affect how certain psychiatric drugs work.”
“I believe that this technology has the potential to place AssureRx on the forefront of the emerging personalized medicine market. I look forward to leading the company during this exciting period of its development.”
GeneSight is a laboratory developed pharmacogenomic test that uses cutting edge technology to measure and analyze clinically important genomic variants in the treatment of psychiatric disorders. The results of the GeneSight report can help a clinician understand the way a patient’s unique genomic makeup may affect certain psychiatric drugs. The analysis is based on pharmacogenomics, the study of genomic factors that influence an individual’s response to drug treatments, FDA approved manufacturer’s drug labels, peer-reviewed scientific and clinical publications, and proven drug pharmacology. Quick turnaround time, combined with a customized report of the patient’s genomic makeup, clinical experience and other factors can help a physician make personalized drug treatment choices for each patient.
About AssureRx Health, Inc.
AssureRx Health, Inc. is a personalized medicine company that specializes in pharmacogenomics dedicated to helping physicians determine the right drug for individual patients suffering from neuropsychiatric and other disorders. The company was founded to commercialize industry-leading personalized medicine technology for neuropsychiatric disorders. Mayo Clinic and Cincinnati Children’s Hospital Medical Center are equity holders and technology collaborators.