Healthcare Industry News: Cintredekin Besudotox
News Release - September 24, 2007
NEOPHARM Announces Management Appointment
Dr. Shahid Ali Appointed to Executive Vice President, Research & DevelopmentWAUKEGAN, Ill.--(HSMN NewsFeed)--NEOPHARM, Inc. (NASDAQ: NEOL ) today announced the appointment of Dr. Shahid Ali to Executive Vice President, Research & Development. Reporting to Laurence Birch, President and Chief Executive Officer of NEOPHARM, Dr. Ali will be responsible for developing a pathway forward for the Company's drug portfolio, which will include a focus on:
- Progressing the drug candidates within the NeoLipid platform to next strategic event;
- Advancing Cintredekin Besudotox for the treatment of Pulmonary Fibrosis and Asthma;
- Completing the ongoing review of the Cintredekin Besudotox program for indication of Recurrent Glioblastoma Multiforme (GBM); and
- Identifying new opportunities that may exist within the current portfolio.
"I am pleased to announce the appointment of Dr. Shahid Ali to the senior management team of NEOPHARM. His extensive knowledge base and experience of drug development related to cancer and pulmonary diseases will enable us to further expand upon the intellectual property the Company has developed to date," commented Mr. Birch. "While we believe the key technical positions that were retained during our reorganization initiative will continue to support our development activities into 2009, the strong leadership that Dr. Ali has demonstrated during his tenure at NEOPHARM will further rejuvenate our research and development efforts going forward."
Dr. Ali joined NEOPHARM in January 2001 as an Associate Director and was a key member of the NEOPHARM team in establishing the Research and Development function. Since joining NEOPHARM, he has held many positions which most recently included his role as Vice President of Biological Evaluations and R&D Operations.
Prior to joining NEOPHARM, Dr. Ali was a group leader at EpiGenesis Pharmaceuticals Inc., Cranbury, NJ, where he directed the pre-clinical program for antisense oligonucleotide based therapeutic invention in pulmonary diseases including asthma. During his 36-year career in research and development, he has gained knowledge and expertise in the fields of Enzyme Regulation, Inhalation Therapeutic Intervention and Liposome-Based Drug Delivery Technology.
About NEOPHARM, Inc.
NEOPHARM, Inc., based in Waukegan, Illinois, is a publicly traded biopharmaceutical company dedicated to the research, development and commercialization of new and innovative cancer drugs for therapeutic applications. Additional information, including ongoing clinical trials, can be obtained by visiting NEOPHARM's Web site at www.NEOPHARM.com.
Forward Looking Statements - This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as "expects," "intends," "projects," "hopes," "anticipates," "believes," "could," "may," "evidences" and "estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to, any statements relating to the Company's drug development programs, drug candidate pathways, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, the Company's ability to successfully recruit senior management to fill the Company's open management positions, risks and uncertainties relating to difficulties or delays that may arise in the development, testing, regulatory approval, production, and marketing of the Company's drug and non-drug compounds, including, but not limited to, Cintredekin Besudotox, the Company's possible need to reduce in funding of certain of its development projects in order to conserve its cash resources, the ability of the Company to procure additional future sources of financing, and other risks detailed from time to time in filings the Company makes with the Securities and Exchange Commission including its annual report on Form 10-K for the calendar year ended December 31, 2006, as updated by the Company in its quarterly reports on Form 10-Q for the calendar quarters ended March 31, 2007 and June 30, 2007. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on these forward-looking statements as a prediction of actual future results.
Source: NEOPHARM
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