MALVERN, PA – (Business Wire) – PhaseBio Pharmaceuticals, Inc., a privately held, clinical-stage biotechnology company developing novel drugs to treat diabetes, metabolic disease and cardiovascular disease, announced today that Kathryn J. Gregory has been appointed Vice President of Business Development. Ms. Gregory has more than 20 years of experience in international business development with a proven track record of negotiating deals and partnerships.

“PhaseBio has advanced its products and technology to the point that we are now ready to take our business development and partnering capabilities to the next level. Kathryn’s extensive deal making experience in partnering proprietary products and next generation biopharmaceuticals will position PhaseBio for long term growth,” said Christopher Prior, Ph.D., CEO of PhaseBio.

Ms. Gregory was most recently Head of North America Sourcing and Procurement for Teva Pharmaceuticals, involving the acquisition of R&D product development opportunities.  Prior to joining Teva, Kathryn spent 10 years as Vice President of Business Development and Licensing and Head of Strategic Sourcing for Neose Technologies, Inc., in Horsham, Pennsylvania. In that capacity she was responsible for global strategic and tactical planning, partnership and alliance management for next-generation therapeutic protein programs. Additionally, she developed a specialized business development expertise in improved biotherapeutics and half-life extension technologies, which is a major emphasis at PhaseBio. Earlier in her career, Kathryn was Director of Business Development for Cytel Corporation in San Diego, California. She joined Neose Technologies, Inc. in Horsham, PA after they acquired the carbohydrate technologies from Cytel.   Kathryn was also Associate Director of Business Development for Gensia Sicor in Irvine, California where she negotiated several creative finished product deals. Gensia Sicor was later acquired by Teva Pharmaceuticals.

Ms. Gregory has a MBA from Pepperdine University and a BA from the University of California, Berkeley.

“Kathryn’s appointment builds out the management team and will drive the growth of the company as a leader in creating new and improved biopharmaceuticals,” said Dr. Craig Rosen, Executive Chairman of PhaseBio. Dr. Rosen went on to say, “since receiving the second tranche financing, which completes the series B financing from November of 2010, PhaseBio has made extraordinary progress advancing the clinical development of PB1023 and building a robust pipeline of product candidates.”

About PhaseBio Pharmaceuticals, Inc.

PhaseBio is a clinical-stage biopharmaceutical company developing novel drugs to treat diabetes, metabolic disease and cardiovascular disease.  The company uses elastin-like biopolymers to increase the half-life, bioavailability, efficacy and ease of administration of therapeutic drugs and reduce their side effects and costs.  This technology, which is licensed to PhaseBio exclusively on a world-wide basis, was originally developed by Ashutosh Chilkoti, Ph.D., professor of biomedical engineering at Duke University.  PB1023 is PhaseBio’s most advanced product candidate and is in clinical testing as a potential treatment for hyperglycemia associated with Type 2 diabetes.  PhaseBio is privately owned with headquarters and research laboratories in Malvern, Pennsylvania.