Healthcare Industry News: TNFerade
News Release - April 19, 2006
GenVec Appoints New Head of Clinical OperationsGAITHERSBURG, Md.--(HSMN NewsFeed)--April 19, 2006--GenVec, Inc. (Nasdaq:GNVC ) announced today the appointment of Milan Kovacevic, M.D., Ph.D., as head of clinical operations, replacing Thomas Davis, M.D., who resigned as chief medical officer to pursue other interests. Dr. Kovacevic will be responsible for managing the company's clinical development programs, contractors and staff. He joined GenVec in February as executive director of clinical development after serving as senior medical director at biopharmaceutical company Alteon, Inc., medical officer for global safety and project manager at the clinical development organization Kendle International, and clinical research scientist at biotechnology company Cangene Corporation.
Paul Fischer, Ph.D., president and chief executive officer of GenVec, stated: "Dr. Kovacevic brings excellent management skills and medical experience to this position and will play a critical role in the execution of our clinical development programs, especially the recently expanded Phase II/III study with TNFerade in patients with pancreatic cancer. We expect to add a number of new clinical sites to the TNFerade study this year, both within and outside the United States, and welcome Milan's leadership in managing this and our other clinical programs successfully."
Dr. Kovacevic received his medical degree, master of science degree in gastroenterology and doctoral degree in nephrology from the University of Beograd in Yugoslavia.
GenVec, Inc. is a biopharmaceutical company developing novel gene-based therapeutic drugs and vaccines. Additional information on GenVec and its portfolio of product candidates is available at www.genvec.com and in the company's various filings with the Securities and Exchange Commission.
Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including expectations regarding future programs and studies, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. GenVec cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks relating to the early stage of GenVec's product candidates under development; uncertainties relating to clinical trials; the timing and content of future U.S. Food and Drug Administration regulatory actions with respect to GenVec, its product candidates, or collaborators, risks relating to the commercialization, if any, of GenVec's proposed product candidates (such as marketing, regulatory, patent, product liability, supply, competition and other risks); dependence on the efforts of third parties; dependence on intellectual property; and risks that we may lack the financial resources and access to capital to fund our operations. Further information on the factors and risks that could affect GenVec's business, financial conditions and results of operations, are contained in GenVec's filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. These forward-looking statements speak only as of the date of this press release, and GenVec assumes no duty to update forward-looking statements.
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