Healthcare Industry News: SuperGen
News Release - October 4, 2006
SuperGen COO to Leave Company at Year-End
Move to Coincide With Expected Completion of Nipent(R), SurfaceSafe(R) Transfer to Mayne Pharma; Reflects Shift in Focus to Drug Discovery, DevelopmentDUBLIN, Calif., Oct. 4 (HSMN NewsFeed) -- SuperGen, Inc. (Nasdaq: SUPG ) announced today that Chief Operating Officer (COO) Edward Jacobs will leave the company at year-end following the expected completion of the sale of Nipent® (pentostatin for injection) and SurfaceSafe® to Mayne Pharma Ltd.
Mr. Jacobs' departure reflects the shift in SuperGen's focus to the development of a pipeline of next-generation anticancer therapies funded by license revenues from these drugs and royalties and milestone payments derived from Dacogen(TM) (decitabine) for Injection. The company will eliminate the COO position following Mr. Jacobs' departure.
"Our Board of Directors is grateful to Ed Jacobs for his commercial leadership over the past seven plus years," said Dr. James Manuso, SuperGen's Chairman, President and Chief Executive Officer. "During his tenure, SuperGen was able to develop and grow the Nipent franchise, launch operations in Europe, license Dacogen and secure several significant commercial partnerships. With our financial engine in place and growing, we are turning our attention to the discovery, development, partnering and ultimate commercialization of proprietary anticancer drugs."
About SuperGen
Based in Dublin, Calif., SuperGen is a pharmaceutical company dedicated to the discovery, acquisition and rapid development of therapies for solid tumors and hematological malignancies. SuperGen is developing a number of therapeutic anticancer products focused on inhibitors of aurora-A, tyrosine kinase and DNA methyltransferase. For more information about SuperGen, please visit http://www.SuperGen.com.
This news release contains certain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are typically preceded by words such as "believes," "expects," "anticipates," "intends," "will," "may," "should," or similar expressions. These forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that may cause actual results to differ materially from the results discussed in these statements. Factors that might cause the company's results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the ability to conclude negotiations on the sale of Nipent, the achievement of royalties or milestones from the Dacogen licensure, and other risks and uncertainties detailed from time to time in the company's filings with the Securities and Exchange Commission including its most recently filed Form 10-Q and 10-K. SuperGen, Inc. undertakes no duty to update any of these forward-looking statements to conform them to actual results.
Source: SuperGen
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