Healthcare Industry News: Pain Therapeutics
News Release - February 22, 2006
Kosan Expands Executive Management TeamHAYWARD, Calif., Feb. 22 (HSMN NewsFeed) -- Kosan Biosciences Incorporated (Nasdaq: KOSN ) today announced that it has expanded its executive management team, adding two new members: Peter Licari, Ph.D., who has been promoted to Senior Vice President, Manufacturing and Operations from Vice President, Process Sciences, and Pieter Timmermans, Ph.D., Senior Vice President, Drug Discovery and Preclinical Development, whose role has been expanded from Senior Vice President, Preclinical Development. Dr. Licari and Dr. Timmermans report to Robert G. Johnson, Jr., M.D., Ph.D., Kosan's Chief Executive Officer.
"Kosan is focusing on our strengths in manufacturing and growing expertise in drug development," said Dr. Johnson. "The addition of these two seasoned pharmaceutical professionals to our executive management team strongly supports our business strategy. We believe their leadership and industry experience will assist us in our drive towards commercialization, as well as maintaining our product pipeline. Peter Licari is accomplished in the scale up and manufacture of complex polyketides, having been instrumental in developing the production process for all five of Kosan's clinical drug products, and Pieter Timmermans has an established track record in discovering drugs and bringing them into the clinic, having been involved in taking 25 compounds through lead optimization and into clinical trials. Together, their extensive industry experience, record of achievement, and contributions to Kosan's progress to date well qualify them to help lead our company."
Dr. Licari joined Kosan in 1998, and has played a pivotal role in creating Kosan's world-class scale-up and manufacturing organization for polyketides, including a key leadership role in delivering all five of the compounds Kosan is now evaluating in clinical trials. Prior to joining Kosan, he held various management positions with Massachusetts Biologic Laboratories in Boston and BASF Bioresearch Corporation, as well as gained development experience at Merck.
Since joining Kosan in February 2005 from Amgen Inc., Dr. Timmermans has focused his research efforts on advancing compounds towards the clinic, including Kosan's latest clinical candidate, KOS-2187, an agent to treat gastrointestinal disorders. Kosan plans to file an application for clinical trial authorization with the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom for KOS-2187 in 2006. He previously was Vice President, Pharmacology and Preclinical Development at Amgen Inc., subsequent to its acquisition of Tularik Inc. Dr. Timmermans has also served in various management positions at The Dupont Merck Pharmaceutical Company and E.I. du Pont de Nemours & Company.
Serving with Dr. Timmermans and Dr. Licari on the executive management team will be Dr. Johnson and Margaret (Peg) Horn, Senior Vice President, General Counsel and Secretary. In addition, Kosan has retained David Johnson as its interim Chief Financial Officer. Mr. Johnson has over 25 years of experience in public accounting including his role as CFO of Pain Therapeutics, Inc., a biopharmaceutical company that specializes in developing drugs for use in pain management.
Kosan Biosciences is advancing two new classes of anticancer agents through clinical development. Kosan is developing Hsp90 (heat shock protein 90) inhibitors in collaboration with the NCI. Kosan's KOS-953 is in Phase I and II clinical trials for multiple myeloma and Her2 positive breast cancer. In addition, intravenous and oral formulations of a second-generation Hsp90 inhibitor, KOS-1022, are currently in Phase I clinical trials. In its epothilone program, Kosan is also developing KOS-862 in Phase II clinical trials in breast cancer, and a follow-on analog, KOS-1584, is in Phase I clinical trials. This program is partnered with Roche through a global development and commercialization agreement. Kosan has generated a pipeline of additional product candidates, including KOS-2187 for gastrointestinal motility. For additional information about Kosan Biosciences, please visit the company's website at www.kosan.com.
This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). Kosan disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the safe harbor for forward-looking statements contained in the Act. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements include, but are not limited to, statements regarding commercialization of Kosan's products, Kosan's ability to maintain its product pipeline and Kosan's plans to file an application for clinical trial authorization with the MHRA in the United Kingdom for KOS-2187. There are a number of important factors that could cause the results of Kosan to differ materially from those indicated by these forward-looking statements, including, among others, the risk that pre-clinical or clinical studies of Kosan's product candidates may not successful and other risks detailed from time to time in Kosan's SEC reports, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2005 and other periodic filings with the SEC. Kosan does not undertake any obligation to update forward-looking statements.
Source: Kosan Biosciences
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