Oct 31, 2017   SOURCE: BusinessWire

Panaceutics Names Top Specialty Pharmacy Executive Mark Montgomery Chief Executive Officer

Panaceutics, Inc., a personalized medicine and clinical nutrition company, today announced it has named specialty pharmacy executive Mark Montgomery to the position of Chief Executive Officer, effectively immediately. He was recruited by Edison Hudson, co-founder who will remain at the company as Chief Technology Officer. The combination of Montgomery’s leadership in the specialty pharmacy field, Hudson’s robotics expertise, and Noel’s experience in drug product development positions the Company to commercialize its proprietary “pill-free” methods of delivering personalized medicine and wellness.

Montgomery was president and CEO of Axium Healthcare, Inc., which merged with Kroger Company in 2012, where he has served as strategic advisor. As the fifth largest pharmacy in the United States, Kroger acquired Mark’s company and saw him lead it to becoming one of their fastest growing business units. Mark was Vice President of CareMark, acquired by CVS, and was head of Sunrise Health Management, which was acquired by Accredo Health, the nation’s largest specialty pharmacy.

Hudson states, “We actively recruited Mark to lead Panaceutics as we enter our fifth year, recognizing our need for his deep industry knowledge and connections to take our disruptive healthcare technology platform to commercial use. We are extremely fortunate to have such a proven and respected executive join our team.”

In addition, the company also announced that its co-founder L. Staton Noel III, has joined the company full-time in his role as Chief Scientific Officer. Noel was previous Director for the Office of Innovation Commercialization at UNCG and has a master’s degree in Gerontology and a MBA. Prior to that, Noel spent 20 years at GlaxoSmithKline in drug discovery for metabolic diseases, inflammation, women’s and men’s health, and aging. Noel and Hudson founded the company and are the named inventors of the issued patents.

The Company has also substantially enhanced its Advisory Board to include several accomplished experts and executives with experience ranging from pharmaceutics to cardiology to personalization methods. See this link on the company’s web site for details, (https://panaceutics.com/news-releases-events/).

ABOUT PANACEUTICS

Panaceutics Inc. is a paradigm shifting technology company focused on precision automated manufacturing and software based formulation services for delivering personalized medicine and clinical nutrition to large populations. The Company is located in the heart of Research Triangle Park, NC. The founders Edison Hudson and L. Staton Noel III have combined their extensive backgrounds in robotics automation and in pharmaceutical development to create a disruptive system able to rapidly build N of 1 patient formulations on demand. This patented system manufactures “no pills” delivery forms that replace the need to take multiple pills daily. Their patented automation is ideal for combination therapy formulas, combining the right ingredients at the right dose for each individual. The first product format is made by titrating a formulation of active ingredients into a single-serving gel daily packet that is pleasing to taste and easy to swallow. With the acquisition of a 503B FDA registered facility, the Company can now begin to offer pharmaceuticals in this format made to optimally match each patient’s needs as prescribed by their doctor. Panaceutics is committed to making products that are the highest quality, personalized under strict cGMP quality control. The Company believes it is the only supplier of technology able to produce personalized therapeutics by a process that can be scaled to serve large populations of patients.