Healthcare Industry News: TRACLEER
News Release - February 14, 2007
Panacos Appoints Dr. Tom Lategan, Vice President of Regulatory AffairsWATERTOWN, Mass.--(HSMN NewsFeed)--Panacos Pharmaceuticals, Inc. (Nasdaq:PANC ), a biotechnology company dedicated to developing the next generation of antiviral therapeutic products, today announced that Tom Lategan, D.Phil., has joined the Company as Vice President of Regulatory Affairs. In this role, Dr. Lategan will be responsible for Panacos' regulatory strategy, procedures, and submissions to regulatory agencies in the U.S. and abroad.
Before joining Panacos, Dr. Lategan was Vice President, Regulatory Affairs for Actelion Pharmaceuticals US Inc. In this role, he was responsible for the regulatory strategy for Actelion's development products and projects. While at Actelion, Dr. Lategan compiled and submitted the successful New Drug Application (NDA) for TRACLEER in the U.S. and Canada, and managed subsequent interaction with the FDA, including panel review, package insert negotiation, and promotional material review. Also at Actelion, he drove the approval of ZAVESCA in the U.S. after an unsuccessful application by a previous sponsor. Prior to Actelion, Dr. Lategan was Vice President, Regulatory Affairs at The Medicines Company, where he was responsible for the NDA and other regulatory submissions for ANGIOMAX in the U.S., E.U., and Canada. Earlier in his career, Dr. Lategan held positions of increasing responsibility in regulatory and clinical product information at Roche. Dr. Lategan received his education in the United Kingdom. His doctorate in Pharmacology is from the University of Oxford and his bachelor's degree is from the University of Aberdeen.
"We are delighted to welcome Tom to the Panacos team. We believe that Tom's strategic acumen and 14 years of hands-on regulatory experience will be of great benefit to bevirimat's continued development," said Alan W. Dunton, M.D, Panacos' Chief Executive Officer. "In addition, we look forward to his contributions in our maturation inhibitor pipeline programs and our work in oral viral fusion inhibitors."
Panacos is developing the next generation of anti-infective products through discovery and development of small molecule oral drugs for the treatment of HIV and other major human viral diseases. HIV infects approximately 1.7 million people in North America and Western Europe and approximately 40 million people worldwide. Approximately 650,000 patients are treated annually for HIV in the United States and Western Europe. Resistance to currently available drugs is one of the most pressing problems in HIV therapy and the leading cause of treatment failure. Panacos' proprietary discovery technologies are designed to combat resistance by focusing on novel targets in the virus life cycle, including virus maturation and virus fusion.
Panacos' lead candidate, bevirimat (PA-457), is the first in a new class of oral HIV therapeutics under development called maturation inhibitors, discovered by Panacos scientists and their academic collaborators. Based on its novel mechanism of action, bevirimat is designed to have potent activity against a broad range of HIV strains, including those that are resistant to existing classes of drugs. The Company has completed seven clinical studies of bevirimat in over 300 subjects, showing significant reductions in viral load in HIV-infected subjects and a promising safety profile, and is currently in Phase 2b clinical trials.
TRACLEER and ZAVESCA are registered trademarks of Actelion Pharmaceuticals Ltd. ANGIOMAX is a registered trademark of The Medicines Company Inc.
Except for the historical information contained herein, statements made herein, including those relating to the clinical and preclinical development of the Company's product candidates, including bevirimat and the Company's maturation inhibitor pipeline programs, the potential results of treatment with bevirimat and future clinical trials and clinical practice are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks as set forth in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2005. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein. The Company undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law.
Source: Panacos Pharmaceuticals
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