Press Release
June 9, 2010 - 12:00am

ATFP Board Member Update: $1.105 billion contract for Mjalli's company, ADC Honors Munayyers, Asali in US Presidential Delegation

TransTech Pharma, Inc., of which ATFP board member Adnan Mjalli, Ph.D, is Chairman and CEO, on June 8 entered into a $1.105 billion licensing agreement with Forest Laboratories for the development and commercialization of small molecule compounds discovered and developed by TransTech Pharma. These compounds are functionally liver-selective Glucokinase Activators (GKAs), which represent a novel class of glucose-lowering agents for the treatment of diabetes. Dr. Mjalli said, “We believe this novel class of compounds has the potential to be a major therapeutic advance in the treatment of diabetes.”

Another ATFP board member, Farah Munayyer and his wife Hanan, were recipients of this year's Hala Salaam Maksoud Award for outstanding commitment and leadership to the community by the American-Arab Anti-Discrimination Committee (ADC) at ADC's 30th anniversary convention on June 4-6. Mr. and Mrs. Munayyer co-founded the Palestinian Heritage Foundation, a nonprofit cultural and educational organization aimed at promoting awareness and understanding of Arab, specifically Palestinian, culture and traditions. Through lectures, live costume shows, at exhibits in over seventeen museums throughout the United States, Canada, and Palestine, the Foundation has reached tens of thousands of people.

ATFP congratulates Dr. Mjalli and TransTech Pharma for their outstanding achievement in business and medicine, and Farah and Hanan Munayyer for their richly-deserved award from ADC.

Dr. Ziad Asali, President of the American Task Force on Palestine, last week participated in the second Palestine Investment Conference as a member of Pres. Obama's official delegation. The US delegation was led by Special Envoy George Mitchell and also included Deputy Secretary of the Treasury Neal Wolin, American Consul General in Jerusalem Daniel Rubinstein, USAID Chief Operating Officer Alonzo Fulgham, Deputy Special Envoy for Middle East Peace Mara Rudman, and Saed Nashef who is a General Partner in the Middle East Venture Capital Fund. The conference was held in Bethlehem from June 2-4. In addition to Dr. Asali, a number of other ATFP Board Members attended the conference, including Randa Masri, Rateb Rabie, George Salem, Mohammed Shadid and Fuad Sahouri.


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