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August 31, 2005 Inproteo names Bioanalytical Systems' CEO as interim leaderINDIANAPOLIS – Inproteo, an industry/university consortium formed to develop and commercialize proteomics tools, today (Wednesday, Aug. 31) appointed board member and entrepreneur Peter Kissinger as its interim president and chief executive officer. "Inproteo," the commercial name for the Indiana Proteomics Consortium, LLC, was established in Indianapolis in 2002 as a joint effort by Eli Lilly and Co. and Purdue and Indiana universities. Inproteo has subsequently organized two startup companies to commercialize technologies developed through the consortium's efforts. Tienta Sciences Inc. develops and manufactures products for the biotechnology and pharmaceutical industries. Prosolia Inc. commercializes mass spectrometry technology. Kissinger, who is and will continue as chairman and CEO of Bioanalytical Systems Inc. (BASi), succeeds John Hurrell, who has decided to pursue other opportunities in the life sciences. "Pete Kissinger's extensive business experience and scientific knowledge will keep Inproteo moving forward while we plot a course for its future leadership and success," said Sally Mason, chairman of the Inproteo board and Purdue's provost. "The consortium will be in good hands, and we are off to an excellent start thanks to John Hurrell's work. We will miss John's leadership, but he feels this is the right time for both him and Inproteo to make a change, and I respect his decision. John built an excellent foundation for us in proteomics, and he also has helped Inproteo launch promising spinoff companies, such as Tienta and Prosolia." Regarding Inproteo's future prospects, Hurrell said, "I am very proud of what Inproteo has achieved, thanks to the work of many talented people and the support of our board. It was an inspired decision to combine Purdue's and IU's world-class research in proteomic tools and analytical methods with Eli Lilly's strength in protein therapeutics. I believe Inproteo is positioned to help Indiana develop a very important segment of the life sciences sector." As interim president and CEO, Kissinger will direct an assessment of the great progress that Inproteo has made to date and direct the planning for future progress, Mason said. Kissinger's Bioanalytical Systems, headquartered in the Purdue Research Park, is a pharmaceutical development company providing contract research services and monitoring instrumentations to leading drug development companies. The company also has operations in Mount Vernon, Ind.; McMinnville, Ore.; Baltimore; and the United Kingdom. "Inproteo has made great strides under John Hurrell and has the potential to become a tremendous asset for Indiana," Kissinger said. "I am excited about the challenge of leading its efforts on an interim basis, and I look forward to working with the many talented people involved in its work." Kissinger earned his doctorate at the University of North Carolina. He served on the faculty at Michigan State University from 1972-75 before joining Purdue, where he works part time as a chemistry professor. He founded Bioanalytical Systems in 1974. Hurrell earned his doctorate in protein and peptide chemistry at the University of Melbourne, Australia. He previously was general manager of Tripath Oncology. located in Research Triangle Park, N.C. Bill Chin, vice president of Lilly Research Laboratories at Eli Lilly and Co. and a member of Inproteo's board of managers, said, "An outstanding feature of Inproteo has been to develop new and unique analytical technologies that are clearly ripe for further development. Our goal continues to be to help grow the life sciences business sector here in Indiana." As was planned, Inproteo has generated funding beyond the initial investment of the founders through licensing of technologies, government grants and other sources. Sources: Sally Mason, (765) 494-9709, sfmason@purdue.edu Peter Kissinger, (765) 497-5801, pete@bioanalytical.com |
