Healthcare Industry News: NeurogesX
News Release - May 29, 2007
NeurogesX Appoints BioMarin CEO Bienaime as ChairmanLeader in Developing and Commercializing Innovative Therapies
SAN CARLOS, Calif., May 29 (HSMN NewsFeed) -- NeurogesX, Inc. (Nasdaq: NGSX ) announced today the appointment of Jean-Jacques Bienaime as Chairman of the Board. Mr. Bienaime is Chief Executive Officer and Director of BioMarin Pharmaceutical Inc. (Nasdaq: BMRN ) and has served as a member of the NeurogesX board of directors since February 2004.
Prior to joining BioMarin in May 2005, Mr. Bienaime was Chairman, Chief Executive Officer and President of Genencor International, a biotechnology company acquired by Danisco A/S. Before that, he was Chairman, Chief Executive Officer and President of SangStat Medical, a biotechnology company, from June 1992 to May 1998. Mr. Bienaime previously held various management positions, including Senior Vice President of Corporate Marketing and Business Development of Rhone-Poulenc Rorer Pharmaceuticals (now The Sanofi-Aventis Group).
"I am pleased to announce the appointment of Jean-Jacques Bienaime as Chairman of the Board of NeurogesX," stated Anthony DiTonno, Chief Executive Officer of NeurogesX. "Mr. Bienaime has an excellent track record of marketing and commercializing therapies in both the United States and abroad, which we particularly value as we move closer to the potential launch of our lead pain management product candidate, NGX-4010.
"In addition, Mr. Bienaime has years of experience working with the U.S. Food and Drug Administration (FDA) and other regulatory authorities through the drug approval process. Under Jean-Jacques' leadership, BioMarin has strengthened its clinical pipeline of enzyme replacement therapies, brought two products to market and built significant value for BioMarin shareholders."
Mr. Bienaime received a B.S. in economics from the Ecole Superieure de Commerce de Paris and an M.B.A. from the Wharton School at the University of Pennsylvania.
Mr. Jean-Jacques Bienaime, Chairman of the Board, commented, "I am delighted to take on this new and significant role at NeurogesX at such a pivotal time in the company's development. I believe that NGX-4010, if approved by the FDA, could play a significant role in the treatment of debilitating neuropathic pain conditions. NeurogesX is preparing to file for regulatory approval for its lead product candidate, NGX-4010, in Europe later this year and, after successful completion of ongoing confirmatory pivotal trials, expects to file for FDA approval in the United States in 2008. I look forward to working closely with the management team and board of directors to continue developing commercialization and business development strategies."
About NeurogesX, Inc.
NeurogesX (Nasdaq: NGSX ) is a biopharmaceutical company focused on developing novel pain management therapies. Its initial focus is on chronic peripheral neuropathic pain, including postherpetic neuralgia (PHN), painful HIV-distal sensory polyneuropathy (HIV-DSP), and diabetic neuropathy. NeurogesX's late stage product portfolio is lead by product candidate NGX- 4010, a topical patch designed to manage pain associated with peripheral neuropathic pain conditions, that the company believes offers significant advantages over other pain therapies. Two Phase III clinical trials with NGX- 4010 have been completed and have met their primary endpoints, one in PHN and one in HIV-DSP.
Safe Harbor Statement
This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). NeurogesX disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Safe Harbor for forward-looking statements contained in the Act. Examples of such statements include, but are not limited to, statements relating to the filing for regulatory approvals and the timing of such filings; the successful completion of clinical trials with respect to NeurogesX' lead product candidate, NGX-4010; market acceptance of NGX-4010; and expected development of commercialization and business development strategies. Such statements are based on management's current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to, patient enrollment for clinical trials may be difficult; past results of clinical trials may not be indicative of future clinical trials results; NeurogesX' product candidate may have unexpected adverse side effects or inadequate therapeutic efficacy; positive results in clinical trials may not be sufficient to obtain FDA or European regulatory approval; physician or patient reluctance to use NGX-4010, if approved, or the inability of physicians to obtain sufficient reimbursement for such procedures; potential alternative therapies; maintaining adequate patent or trade secret protection without violating the intellectual property rights of others; and other difficulties or delays in clinical development, obtaining regulatory approval, market acceptance and commercialization of NGX- 4010. For further information regarding these and other risks related to NeurogesX' business, investors should consult NeurogesX' filings with the Securities and Exchange Commission.
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