Healthcare Industry News: Pain Therapeutics
News Release - June 6, 2006
Corgentech Announces Appointment of K. Peony Yu as Vice President, Clinical Research and Michael Leong as Director, Clinical ResearchSOUTH SAN FRANCISCO, Calif., June 6 (HSMN NewsFeed) -- Corgentech Inc. (Nasdaq: CGTK ) today announced the appointment of K. Peony Yu, M.D., as vice president of clinical research and Michael Leong, M.D., as director of clinical research. Drs. Yu and Leong have substantial experience in guiding pain drugs through clinical trials and will play a key role in continued development of the company's growing portfolio of drugs targeted at pain management.
"Dr. Yu and Dr. Leong have extensive experience in clinical development of drugs targeted at pain, and also bring to the company years of first-hand patient experience in pain management practices," said John P. McLaughlin, chief executive officer of Corgentech. "Corgentech is fortunate to have the opportunity to leverage their knowledge to ensure the continued success and growth of our clinical development program."
Prior to joining Corgentech, Dr. Yu worked at ALZA Corporation, a Johnson & Johnson company, as a director of clinical development. There, she served as IONSYS(TM) global clinical team leader and contributed to the recent FDA approval and marketing authorization in the European Union of IONSYS(TM) for the management of acute post-operative pain. She also contributed to the in-licensing of pain products and new product concepts as well as assisted in the submission of a new drug application (NDA) for a urology product. Before ALZA, Dr. Yu was a director of clinical development at Pain Therapeutics, Inc. responsible for the clinical development program for Remoxy(TM) and OxyTrex(TM), both for the management of moderate to severe chronic pain, and an assistant director of clinical affairs at Elan Pharmaceuticals where she contributed to the development of PRIALTŪ, which was subsequently approved by the FDA and European commission for the management of severe chronic pain. She also had nearly a decade of clinical experience at the Palo Alto Medical Foundation, a 160-physician multi-specialty group, where she founded the group's physical medicine and rehabilitation department and co-founded the group's pain management service. Dr. Yu, who received her medical degree from the University of California-Davis and completed a residency at Stanford University School of Medicine, is board certified by both the American Board of Physical Medicine and Rehabilitation and the American Board of Pain Medicine.
Prior to joining Corgentech, Dr. Leong was a medical director at Solstice Neuroscience Inc., the maker of Myobloc (Botulinum Toxin type B). At Solstice, he oversaw the implementation and operations of both sponsored and investigator-driven clinical trials, in addition to providing input on clinical development plans and medical education programs. Before joining Solstice, Dr. Leong worked as an assistant professor at the Stanford Pain Management Center for many years and continues to teach as an adjunct assistant professor. He has also directed a private practice clinical research center and was the primary investigator for trials of novel topical and intrathecal analgesics. In addition, Dr. Leong has published numerous articles on pain management and has made data presentations both nationally and internationally. Dr. Leong received his medical degree from Georgetown University Medical School and completed his residency and a fellowship at Stanford University School of Medicine. He is board certified in anesthesiology with a sub-specialty in pain management.
Corgentech is a late-stage biopharmaceutical company that seeks to be the leader in the development and commercialization of novel therapeutic treatments for pain. The company has four drug candidates in clinical development for multiple potential indications, the most advanced of which, 3268, has completed Phase 3 clinical trials. To reflect the company's core focus on novel pain management therapies, the board of directors recently voted to change the company name to Anesiva. If approved by stockholders at the annual meeting on June 21, 2006, the name change will become effective immediately thereafter. Corgentech is based in South San Francisco, CA.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include, without limitation, projected timing of clinical development and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: whether Corgentech can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Additional information concerning these and other risk factors is contained in Corgentech's quarterly report on Form 10-Q for the quarter ended March 31, 2006. Corgentech undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
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