Healthcare Industry News: Sanofi-aventis
News Release - August 15, 2006
SGX Pharmaceuticals Appoints Chief Medical OfficerSAN DIEGO, Aug. 15 (HSMN NewsFeed) -- SGX Pharmaceuticals, Inc. (Nasdaq: SGXP ) today announced the appointment of Terence Rugg, M.D., as Vice President, Development and Chief Medical Officer. In this position, Dr. Rugg will be responsible for leading the company's drug development programs and will report to Mike Grey, President and CEO.
"I am delighted that someone of Terry's stature and experience is joining the SGX team," said Mike Grey. "Terry's proven track record of successful drug development, particularly in oncology, will be invaluable in the continued development of Troxatyl and the anticipated Phase I clinical development of a BCR-ABL kinase inhibitor under our Novartis collaboration. In addition, Terry's strong leadership and expertise will be a great asset as we work to advance our oncology discovery pipeline through to clinical development."
Dr. Rugg joins SGX from Sanofi-aventis, where he most recently served as Vice President and Head of Oncology, U.S. Medical Affairs. Prior to Sanofi-aventis, Dr. Rugg served in senior roles in several biotechnology and pharmaceutical companies, including Eli Lilly and Company, Zeneca Pharmaceuticals, Ilex Oncology and British Biotech. Dr. Rugg has diverse oncology drug development experience involving over 30 compounds, including at least 10 different classes of anti-cancer agents. He played a key role in the development of Gemzar® (gemcitabine) while at Eli Lilly and Campath® and Clolar® (clofarabine) while at Ilex Oncology.
"I am very pleased to join SGX at such an exciting stage of its development," said Dr. Rugg. "SGX has a promising oncology pipeline and a depth of expertise that positions the company well to achieve its goal of bringing innovative cancer therapeutics to patients."
About SGX Pharmaceuticals
SGX Pharmaceuticals is a biotechnology company focused on the discovery, development and commercialization of innovative cancer therapeutics. The company's lead product candidate, Troxatyl(TM), is currently being evaluated in a pivotal Phase II/III trial for the treatment of third-line acute myelogenous leukemia. SGX has developed a pipeline of oncology drug candidates based on its enabling, proprietary FAST(TM) drug discovery platform, including next generation BCR-ABL inhibitors currently being developed in partnership with Novartis. FAST allows for the rapid identification of novel, potent and selective small molecule compounds for well validated but challenging targets. More information on the pipeline and drug discovery platform can be found at www.sgxpharma.com.
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements include, but are not limited to, statements related to the status and potential of drug discovery and development programs, SGX's objective to advance its discovery programs to clinical development, expectations with respect to the further development and potential regulatory approval of Troxatyl, future plans, activities and expectations regarding the BCR-ABL program, the effectiveness and efficiency of the FAST technology to generate novel lead molecules for therapeutic targets, the ability to discover, develop and commercialize innovative cancer therapeutics and the expected impact that Dr. Rugg will have on the Company's development programs. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug discovery, development and commercialization, collaborations with others, and litigation. For a discussion of these and other factors, please refer to the risk factors described in the Company's annual report on Form 10-K for the year ended December 31, 2005 as well as other subsequent filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and SGX undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
Source: SGX Pharmaceuticals
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