Healthcare Industry News: intravenous iron replacement
News Release - April 9, 2007
Advanced Magnetics Announces Appointment of Kristen P. Galfetti as Senior Director Investor RelationsCAMBRIDGE, Mass., April 9 (HSMN NewsFeed) -- Advanced Magnetics, Inc. (Nasdaq: AMAG ) today announced the appointment of Kristen P. Galfetti to the position of Senior Director, Investor Relations. Ms. Galfetti joins Advanced Magnetics after more than five years at Genzyme Corporation where she most recently held the title of Director, Investor Relations. In her new role, Ms. Galfetti will be responsible for establishing the company's strategic investor relations program and managing media relations efforts.
"This appointment is an excellent addition to our growing management team as we enter our next major period of expansion as a company. Kristen's years of experience in the biotech industry and her ability to effectively interact with Wall Street and investors will serve Advanced Magnetics well," commented Brian J.G. Pereira, M.D., President and Chief Executive Officer of Advanced Magnetics.
While at Genzyme, Ms. Galfetti helped lead global investor relations and investor communications. She was responsible for managing the company's annual analyst day, directing marketing roadshows and communicating on behalf of several diverse business units. She also served key roles in Genzyme's acquisitions during her tenure at the company. Kristen's accomplishments have been recognized outside of Genzyme, where she is a board member of the National Institute of Investor Relations' Boston chapter. Ms. Galfetti holds an M.B.A. from Bentley College and a B.A. from the University of Vermont.
About Advanced Magnetics Advanced Magnetics, Inc. is a developer of superparamagnetic iron oxide nanoparticles used in pharmaceutical products. As a leader in our field, we are dedicated to the development and commercialization of our proprietary nanoparticle technology for use in therapeutic iron compounds to treat anemia, as well as novel imaging agents to aid in the diagnosis of cardiovascular disease and cancer.
Ferumoxytol, the company's key product candidate, is being developed for use as an intravenous iron replacement therapeutic for the treatment of iron deficiency anemia in chronic kidney disease. The company plans to file a New Drug Application for marketing approval of ferumoxytol with the U.S. Food and Drug Administration during the fourth calendar quarter of 2007.
Combidex®, the company's second product under development, is an investigational functional molecular imaging agent consisting of iron oxide nanoparticles for use in conjunction with magnetic resonance imaging, or MRI, to aid in the differentiation of cancerous from normal lymph nodes. In March 2005, the company received an approvable letter from the FDA with respect to Combidex, subject to certain conditions.
For more information about us, please visit our website at http://www.advancedmagnetics.com, the content of which is not part of this press release.
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Any statements contained in this press release that do not describe historical facts, including but not limited to, statements regarding the expansion of the company, Ms. Galfetti's contributions to the company, and the planned date for filing a New Drug Application for ferumoxytol, are forward- looking statements that involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward- looking statements. Such risks and uncertainties include the following: (1) the possibility that we may not be able to successfully complete the development of ferumoxytol, or may not be able to complete the development in a timely or cost-effective manner, due to deficiencies in the design or oversight by us of these trials, the failure of our trials to demonstrate that ferumoxytol is safe and efficacious, unexpected results from our clinical sites, inadequate performance by third-party service providers involved in the conduct of the clinical trials, or any other factor causing an increase in expenses, a delay and/or a negative effect on the results of the clinical studies for ferumoxytol; (2) uncertainties surrounding the our ability to obtain regulatory approval for ferumoxytol from the FDA; (3) the possibility that the results of past ferumoxytol studies may not be replicated in future studies; (4) the fact that we have limited sales and marketing expertise; (5) uncertainties relating to our patents and proprietary rights; and (6) other risks identified in our Securities and Exchange Commission filings. We caution readers not to place undue reliance on any forward-looking statements which speak only as of the date they are made. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
Source: Advanced Magnetics
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