March 3, 2009 (FinancialWire) -- Ore Pharmaceuticals Inc. (NASDAQ: ORXE) (Current Market Cap: US$2.19 Mil.) has elected Mark J. Gabrielson to serve as president and chief executive officer, replacing Charles Dimmler, III.

Gabrielson serves on the company's board and, most recently, was managing general partner of p-Value Capital LLC, a specialty financial services firm focused on assembling and financing portfolios of clinical stage pharmaceutical and biopharmaceutical products.

He also serves on the board of Pulmatrix Inc., a private pharmaceutical company that he co-founded in 2003 and where he was CEO from its founding through 2007. Gabrielson also was a general partner of Prince Ventures, a healthcare venture capital firm. He began his career at GlaxoSmithKline.

Gaithersburg, Maryland-based Ore Pharmaceuticals is a commercial drug development company. The company has three compounds in its development pipeline, including romazarit, which is beginning development for metabolic disorders. The company's tiapamil candidate is beginning development for treatment of diseases of the central nervous system, while its GL1001 is in development for inflammatory bowel disease.

In 2008, Ore cleared FDA review of the investigational new drug application for GL1001, and began clinical trials on that compound in late September 2008.

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