Healthcare Industry News: Humira
News Release - May 24, 2006
Valera Pharmaceuticals Appoints Jeremy D. Middleton To The Position Of Vice President, Business DevelopmentCRANBURY, N.J.--(HSMN NewsFeed)--May 24, 2006--Valera Pharmaceuticals, Inc. (NASDAQ: VLRX ), a specialty pharmaceutical company focused on commercializing products for the urology and endocrinology markets, today announced the appointment of Jeremy D. Middleton to the newly created position of Vice President, Business Development.
Valera noted that the addition of Mr. Middleton to its senior management team reflects a key milestone in its growth strategy which centers on pursuing opportunities to leverage its commercial organization. Mr. Middleton will also explore opportunities surrounding Valera's Hydron implant technology, a proprietary and patent protected drug delivery system capable of administering a controlled dose of therapeutic for up to a year.
"We are very pleased to welcome Jerry to our management team," said David S. Tierney, M.D., Valera's President and CEO. "Jerry possesses extensive pharmaceutical experience, proven expertise in strategic planning and corporate development, plus well established industry relationships. These are important resources as we continue to pursue prospects to broaden our pipeline and product portfolios while exploring potential alliances, including co-promotion deals in our market space and the out-licensing of our drug delivery technology for uses in markets where we currently do not have a presence."
Mr. Middleton noted, "Valera's management uniquely combines a high level of pharmaceutical business know-how with an entrepreneurial drive for success. This is exemplified by the commercialization of VANTAS®, a 12-month implant for advanced prostate cancer; the acquisition of VALSTAR®, an approved urinary bladder cancer therapy; and the completion of Phase III studies of SUPPRELIN®-LA, a 12-month implant for central precocious puberty; all in just the past year-and-a-half. I am excited about joining this team and look forward to contributing to the Company's growth."
An industrial chemist by training, Mr. Middleton brings to Valera extensive international and domestic experience in the pharmaceutical and biotechnology industries including leadership positions in strategic planning, manufacturing and commercial development.
Prior to joining Valera, Mr. Middleton was Vice President, Commercial Development at Neose Technologies (NASDAQ:NTEC ), a biopharmaceutical company focused on the development of proprietary therapeutic proteins. At Neose, he led the commercial development and strategic planning groups and was responsible for key aspects of business development. Mr. Middleton began his pharmaceutical career in the United Kingdom with Boots Pharmaceuticals, a predecessor to BASF Pharma which has since been merged into Abbott Laboratories (NYSE:ABT ). He held positions of increasing responsibility with the U.K., Australian, and U.S. operating arms of Boots, including directing the U.S. business planning process for SYNTHROID® and VICODIN®. At BASF Pharma and Abbott, he was Global Product Director for Humira®, a treatment for rheumatoid arthritis that is today sold in over 50 countries with annual sales approaching $2 billion.
About Valera Pharmaceuticals
Valera Pharmaceuticals is a specialty pharmaceutical company focused on developing, acquiring, and commercializing products to treat urology and endocrinology diseases and disorders. Utilizing its innovative Hydron technology, Valera is developing soft, compact and flexible hydrogel-based implants which can be designed to release therapeutic agents at a controlled rate for up to twelve months. VANTAS®, a patent protected once-per-year implant currently marketed by Valera for the palliative treatment of advanced prostate cancer, employs this drug delivery technology. Additional information about Valera Pharmaceuticals is available at: http://www.ValeraPharma.com/
This press release contains forward-looking statements that are not historical facts but rather are based on current expectations, estimates and projections about the Company's industry, beliefs and assumptions. Words such as "anticipates,'' "expects,'' "intends,'' "plans,'' "believes,'' "seeks'' and "estimates,'' and variations of these words and similar expressions, are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company's control, are difficult to predict and could cause actual results to differ materially from those expressed, implied or forecasted in the forward-looking statements. These risks and uncertainties include, among others, those described in "Risk Factors'' contained in the Company's Form 10-K as filed with the Securities and Exchange Commission on March 20, 2006. You are cautioned not to place undue reliance on these forward-looking statements as actual future results and events may be materially different from what the Company currently expects. The forward-looking statements included in this press release reflect the Company's views and assumptions only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Source: Valera Pharmaceuticals
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