Healthcare Industry News: Favrille
News Release - October 12, 2006
Favrille Appoints Former Eli Lilly Executive Michael Eagle Chairman of the BoardSAN DIEGO, Oct. 12 (HSMN NewsFeed) -- Favrille, Inc. (Nasdaq: FVRL ), a biopharmaceutical company developing patient-specific, active immunotherapies for the treatment of cancer, announced today the appointment of Michael Eagle as Chairman of the Company's Board of Directors. Mr. Eagle has more than 30 years of broad-based experience in manufacturing and general management positions in industry, including medical devices and pharmaceutical products. He has been a member of Favrille's Board since September 2003.
Mr. Eagle served as Vice President of Manufacturing for Eli Lilly and Company for eight years. Previously he was Chief Executive Officer of IVAC Corporation, and Senior Vice President of the Medical Devices and Diagnostics Division of Lilly (formerly Guidant Corporation). Since retiring from Eli Lilly in 2001, Mr. Eagle is a founding member of Barnard Life Sciences, and Chairman of Optical Vitals. He also sits on the Board of Directors of Radiant Medical and Siegel-Robert Corporation. Mr. Eagle received his bachelor's degree in Engineering from Kettering University and his MBA from the Krannert School of Management at Purdue University.
"For the past three years I have had the pleasure of serving on Favrille's Board as the Company has positioned itself for commercial success," said Mr. Eagle. "Now, on the brink of Phase 3 data this quarter, I look forward to taking on an even greater role at a critical time in the Company's development."
Mr. Eagle assumes the role of Chairman from Cam Garner, who will remain on the Board. Mr. Garner has served on Favrille's Board of Directors since December 2000 and as Chairman since May 2001. He recently co-founded specialty pharmaceutical companies Verus Pharmaceuticals, Inc., where he now presides as Chairman and Chief Executive Officer, and Cadence Pharmaceuticals, Inc., where he serves as Chairman. In addition, he is on the Board of Directors of Pharmion Corporation and Somaxon Pharmaceuticals, Inc., as well as a number of privately held companies.
"Mike has a combination of manufacturing and management experience that is ideally suited for Favrille as it prepares for commercialization of its lead product candidate FavIdŽ," said Mr. Garner. "I am excited to continue working with Mike, along with the entire Board and management team to help bring this important treatment option to patients with non-Hodgkin's lymphoma."
About Favrille, Inc.
Favrille, Inc. is a biopharmaceutical company focused on the development and commercialization of targeted immunotherapies for the treatment of cancer and other diseases of the immune system. The Company's lead product candidate, FavId, is based upon unique genetic information extracted from a patient's tumor. FavId is currently under investigation in a pivotal Phase 3 clinical trial for patients with follicular B-cell NHL and Phase 2 clinical trials in other B-cell NHL indications. The Company is developing additional applications based on its immunotherapy expertise and proprietary cost-effective manufacturing technology, including a second product candidate, FAV-201, for the treatment of cutaneous T-cell lymphoma.
Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, references to Favrille's product candidates, proprietary technologies and research programs. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Favrille's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to, risks and uncertainties related to progress and timing of clinical trials for FavId, including difficulties or delays in development, testing, manufacturing and marketing FavId or Favrille's other product candidates; Favrille's ability to obtain marketing approval for FavId or Favrille's other product candidates and the timing of any such approvals; Favrille's ability to manufacture sufficient quantities of FavId for use in clinical trials and, if FavId receives marketing approval, for commercialization; risks associated with achieving projected operating metrics and financial performance or the anticipated number of patients using FavId; potential delays in patient enrollment; Favrille's ability to obtain additional financing to support its operations; and additional risks discussed in Favrille's filings with the Securities and Exchange Commission. In addition, conclusions regarding the safety and efficacy of Favrille's product candidates cannot be made until the results of future clinical trials of longer duration in more patients are known. All forward-looking statements are qualified in their entirety by this cautionary statement. Favrille is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
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