SAN DIEGO, CA and KAILUA-KONA, HI -- (Marketwired) -- 05/22/13 -- Cellana, Inc., a leading developer of algae-based bioproducts for the pharmaceutical, nutraceutical, fuel and animal feed industries, announced the appointment of Michael J. Kamdar as president of Cellana. Kamdar will be primarily responsible for commercialization, business development, research and development and operations.
"We are very pleased to have Michael join the Cellana team. His track record of success in building, funding and leading biotechnology and biopharmaceutical companies is very impressive," said Martin Sabarsky, Cellana's CEO. "Michael's significant biopharmaceutical industry experience, including with both private and public companies, complements our existing team and will help accelerate our three-product business model into commercialization with a particular focus on the high-value portion in pharmaceutical and nutraceutical oils."
"Cellana is entering an exciting growth stage as it begins to see its leading position in algae-based products advance into large-scale off-take agreements and commercialization," said Kamdar. "I look forward to joining the Cellana team and helping the company achieve its goals of utilizing its one-of-a-kind technology to provide sustainable algae-based products for multiple industry sectors on a global basis."
"We are pleased to add a professional of Michael's caliber to the Cellana leadership team," said C. Barry Raleigh, Ph.D., chairman of Cellana. "As we move closer to commercialization with validating off-take agreements, we expect to bring on additional professionals to assist Michael, Martin and the broader Cellana team in executing the company's innovative business plan."
Kamdar has more than 25 years of fundraising, management, business development and commercial experience in the biotechnology, pharmaceutical and diagnostic industries. He has held executive positions at both public and private companies, including Agouron Pharmaceuticals, Warner-Lambert, Pfizer, Anadys Pharmaceuticals, VentiRx Pharmaceuticals and Genoa Pharmaceuticals, representing some of the most successful in the pharmaceutical and biotechnology communities. Over the course of his career to date, Kamdar has accounted for deal transactions in excess of $1 billion and has raised in excess of $300 million from venture capital and public capital market sources. Kamdar serves as a member of the board of directors of Tobira Therapeutics, Genoa Pharmaceuticals and BIOCOM.
Cellana, a leading developer of algae-based bioproducts, uses the most productive plants on earth -- marine microalgae -- to produce its ReNew line of Omega-3 EPA and DHA oils, animal feed and biofuel feedstocks. Cellana's patented ALDUO system enables economic, sustainable and consistent production of photosynthetic algae at industrial scale. Cellana intends to construct and operate commercial facilities to produce these products as integrated algae-based biorefineries. To date, over $100 million has been invested in developing Cellana's algae strains, patented and proprietary production technologies and its Kona Demonstration Facility. For more information about Cellana, please go to www.cellana.com.
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