The Dubai-based NewBridge Pharmaceuticals has completed its $12 million Series B financing, bringing the total amount raised to $16 million.

NewBridge also announced today the appointment of Joseph W Henein as its president and chief executive officer and a member of the company's board of directors.

Henein joins NewBridge after a career extending over 29 years in multinational pharmaceutical corporations, holding a number of senior positions covering many geographies including US, Europe, and Middle East, the company said.  

Most recently Henein was the head and managing director of Wyeth for the Middle East and Africa (MEA). 

NewBridge also announced the appointment of G Garrett Vygantas, MD as vice president, corporate strategy and business development. Dr Vygantas served as the interim CEO since the company was founded.

The Series B financing round was led by Kuwait Life Sciences Company (KLSC), a subsidiary of National Technology Enterprises Company of Kuwait with participation by the previous investor Burrill Life Sciences Capital Fund III, L.P.  In conjunction with the financing, Qais Marafie, chairman of KLSC was appointed to the company's board. In addition, Victor A Hebert, managing director, Burrill & Company has succeeded G Steven Burrill, CEO, Burrill & Company as chairman of the board.  Burrill will continue to serve on the board of directors, the company said.  

NewBridge is a specialty pharmaceutical, biologics, medical devices and diagnostics company serving the emerging markets of Africa, Middle East, Turkey, and Caspian regions. - TradeArabia News Service