Healthcare Industry News: IRX Therapeutics
News Release - January 16, 2007
IRX Therapeutics Names John W. Hadden II President and CEONEW YORK--(HSMN NewsFeed)--IRX Therapeutics today announced that John W. Hadden II, has been named President and Chief Executive Officer. He had previously been Chief Operating Officer. Harvey Brandwein, Ph.D., the former President and Chief Executive Office was named Chief Technology Officer, Senior Vice President of Research. Dr. Brandwein will continue to lead the Company's efforts in research and manufacturing operations.
"I am delighted to welcome John W. Hadden II as President and Chief Executive Officer," said John T. Spitznagel, IRX Therapeutics' Chairman of the Board. "His financial and business experience in banking and proven ability to lead at IRX Therapeutics makes Mr. Hadden an excellent choice to lead the Company in this important next phase of development. We are all excited about the Company's future and believe that we have a strong management team in place to execute the vision."
Mr. Hadden joined the Company in 1998 as Chief Financial Officer and most recently was IRX Therapeutics' Chief Operating Officer. Previously, Mr. Hadden was a healthcare banker at J.P. Morgan & Co., Inc. Mr. Hadden has experience with many facets of finance including capital markets, investment banking, and venture capital investment. Mr. Hadden earned his M.B.A. from the Harvard University Graduate School of Business Administration and has a B.S. in Management, summa cum laude, from Tulane University.
IRX Therapeutics discovers and develops therapeutic treatments that act on multiple cellular targets to restore the immune system's ability to treat cancer and viral diseases. IRX-2 seeks to correct both dendritic cell and T-cell defects to stimulate an immune response to destroy tumor cells. IRX-2 received Fast Track designation by the Food and Drug Administration in November of 2003. An open label Phase 2 clinical trial in late-stage head and neck cancer patients was completed which demonstrated statistically significant improvement in the treatment group and a clinical response rate of 38%. After forty-eight months, the overall survival of IRX-2 treated patients was 61% versus 32% for the concurrent institutional control group.
About IRX Therapeutics
IRX Therapeutics is a privately held immunotherapy company focusing on the development and commercialization of treatments for advanced cancer and viral diseases. Founded in 1994 by John W. Hadden, M.D., a pioneer in the field of Immunopharmacology, IRX Therapeutics is developing an innovative approach that stimulates a coordinated cellular immune response to treat human diseases. The Company's product pipeline includes IRX-2, a therapeutic cancer therapy that seeks to stimulate a cellular immune response in the host to destroy tumor cells. Other products in development similarly seek to stimulate a cellular immune response for the treatment of other cancers and viral diseases. This immune response is essential for the eradication of most viruses and tumors, and relies on the effective functioning of dendritic cells, macrophages, and T-cells.
For more information on IRX Therapeutics, please visit the Company's website at http://www.irxtherapeutics.com.
Source: IRX Therapeutics
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