Healthcare Industry News: sanofi-aventis
News Release - October 3, 2006
Regeneron Names Peter Powchik, M.D., Senior Vice President of Clinical DevelopmentTARRYTOWN, N.Y.--(HSMN NewsFeed)--Regeneron Pharmaceuticals, Inc. (Nasdaq: REGN ) announced today the appointment of Peter Powchik, M.D., as Senior Vice President of Clinical Development to lead the Company's clinical development efforts. Dr. Powchik will report to George Yancopoulos, M.D., Ph.D, President, Regeneron Research Laboratories.
"Regeneron's product candidates are being tested in an expanding number of late-stage clinical trials in cancer, eye disease, and inflammatory conditions," remarked Dr. Yancopoulos. "Dr. Powchik has played a key role at major pharmaceutical companies in guiding important products successfully through the clinical and regulatory process. His demonstrated expertise and broad experience will be particularly valuable as our clinical development efforts advance. Peter will lead our growing clinical team, which includes the recent addition of an oncologist and an ophthalmologist to senior clinical positions."
"Regeneron has exciting drug candidates progressing through clinical development that address significant unmet medical needs and the stated goal of advancing two new antibody candidates into the clinic each year beginning in 2007," added Dr. Powchik. "I look forward to joining Regeneron's management team and overseeing this ambitious drug development effort."
Dr. Powchik joins Regeneron from Chugai Pharma USA, where he was Senior Vice President and Chief Medical Officer. There he was responsible for development activities for oncology, cardiology, and gastrointestinal product candidates. He held senior clinical development positions with Novartis Pharmaceuticals Corporation, Sepracor Inc., and Pfizer, Inc. before joining Chugai. Dr. Powchik brings expertise in clinical development and in positioning new products for commercialization in the pharmaceutical industry. He played a significant role in the development and commercialization of important new products. Prior to his work in the pharmaceutical industry, Dr. Powchik was on the faculty of The Mount Sinai School of Medicine in New York City. He received an M.D. degree from the New York University School of Medicine.
About Regeneron Pharmaceuticals
Regeneron is a biopharmaceutical company that discovers, develops, and intends to commercialize therapeutic medicines for the treatment of serious medical conditions. Regeneron has therapeutic candidates in clinical trials for the potential treatment of cancer, eye diseases, and inflammatory diseases, and has preclinical programs in other diseases and disorders.
This news release discusses historical information and includes forward-looking statements about Regeneron and its products, programs, finances, and business, all of which involve a number of risks and uncertainties, such as risks associated with preclinical and clinical development of our drug candidates, determinations by regulatory and administrative governmental authorities which may delay or restrict our ability to continue to develop or commercialize our drug candidates, competing drugs that are superior to our product candidates, unanticipated expenses, the availability and cost of capital, the costs of developing, producing, and selling products, the potential for any collaboration agreement, including our agreement with the sanofi-aventis Group, to be canceled or to terminate without any product success, risks associated with third party intellectual property, and other material risks. A more complete description of these and other material risks can be found in Regeneron's filings with the United States Securities and Exchange Commission (SEC), including its Form 10-K for the year ended December 31, 2005 and Form 10-Q for the quarter ended June 30, 2006. Regeneron does not undertake any obligation to update publicly any forward-looking statement, whether as a result of new information, future events, or otherwise unless required by law.
Source: Regeneron Pharmaceuticals
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