Healthcare Industry News: colorectal cancer
News Release - September 20, 2007
CG Therapeutics Appoints Dr. Christopher S. Henney as Chairman of Board of DirectorsSEATTLE, Sept. 20 (HSMN NewsFeed) -- CG Therapeutics, a biotechnology company developing new cancer immunotherapies, today announced the appointment of Christopher S. Henney, Ph.D., D.Sc., as Chairman of the company's Board of Directors. Dr. Henney is a successful biotechnology entrepreneur and scientist who co-founded, and held key management positions in, three public biotechnology companies: Immunex, ICOS and Dendreon. Dr. Henney joins CG Therapeutics as the company moves toward comprehensive Phase 2 clinical trials of CG201, its proprietary cancer vaccine.
Dr. Henney brings to CG Therapeutics more than two decades of leadership experience in the biotechnology industry. Dr. Henney co-founded Immunex in 1981 and held various positions at the company including Director, Vice Chairman and Scientific Director. Immunex was acquired by Amgen in 2002 for $11 billion. Dr. Henney co-founded ICOS and, from 1989 to 1995, served as Executive Vice President, Scientific Director and Director. ICOS was recently acquired by Eli Lilly and Company for $2.1 billion. Dr. Henney also co-founded Dendreon Corporation and served as Chairman and Chief Executive Officer from 1995 through 2004. In addition to chairing CG Therapeutics, he currently serves as Chairman of Biomira and SGX Pharmaceuticals. Dr. Henney is a widely-published immunologist who, before founding Immunex, was the first head of the Immunology Department at the Fred Hutchinson Cancer Center in Seattle.
"We are excited that Chris is joining the CG Therapeutics team. He is one of the most senior and respected biotechnology executives in the industry and will be extremely helpful in many areas of the business," said Jonathan A. Green, Chief Executive Officer of CG Therapeutics. "Most immediately, we expect Chris to play key roles in the corporate partnering process and our funding efforts."
"I am very impressed with the progress CG Therapeutics has made in developing CG201 and preparing it for advanced human testing," said Dr. Henney. "I'm looking forward to helping them complete their Phase 2 testing and work with them to refine their business and strategic plans."
CG Therapeutics plans to complete a Series A financing to fund its Phase 2 clinical trials of CG201 in non-small cell lung cancer and colorectal cancer. In a previous Phase 2 clinical study of colon cancer patients, an early formulation of CG201 doubled the survival time for patients who responded well to the vaccine.
Cancer cells produce hCG to help them grow and spread. Clearing hCG from the body blocks tumors' spread and assists patients' own immune systems in destroying tumors. CG201 uses antibodies created by the patient's white blood cells to attack hCG. Unlike traditional chemotherapies, and many new targeted therapies, CG201 appears to have no side effects other than limited inflammatory reactions at the site of injection. CG201 addresses a cancer therapy market estimated at $85 billion and growing rapidly. Future growth in this market is expected to be driven by new therapies like CG201.
About CG Therapeutics
CG Therapeutics is a privately held biotechnology company focused on the development of hCG-based cancer immunotherapies. The company's lead product is CG201, an anti-hCG vaccine for cancer treatment that has shown promise in human clinical trials. CG Therapeutics has an exclusive, worldwide license to the advanced CG201 formulation. For more information about the company, please visit http://www.cgtherapeutics.com.
Source: CG Therapeutics
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