Healthcare Industry News: Acute Coronary Syndrome
News Release - September 27, 2007
Momenta Pharmaceuticals Announces Executive PromotionsCAMBRIDGE, Mass., Sept. 27, 2007 (Healthcare Sales & Marketing Network) -- Momenta Pharmaceuticals, Inc. (NasdaqGM:MNTA ), a biotechnology company specializing in the characterization and engineering of complex drugs, announced promotions and new roles for two key executives. Steven Brugger has assumed the newly-created position of Chief Operating Officer and Ganesh Venkataraman, Ph.D. has become the Company's first Chief Scientific Officer.
``These promotions reflect the considerable talent and commitment we see throughout Momenta,'' stated Craig Wheeler, President and Chief Executive Officer of Momenta. ``Steve and Ganesh have played a critical role in building the Company and I look forward to their continued contributions as we move closer toward the commercialization of our complex generics and novel products.''
During his five-year tenure at Momenta, Mr. Brugger has been a valued member of the Company's executive team, with both strategic and organizational responsibilities. In his new role as Chief Operating Officer, he has assumed broad responsibility for the Company's operations, adding pharmaceutical sciences and research to his present areas of strategic business operations, development and regulatory.
Dr. Venkataraman, a co-founder of the Company, will continue in his current position as Senior Vice President, Research, while assuming the additional role of Chief Scientific Officer. As CSO, he will have responsibility for the Company's scientific strategy and for advancing the application of the Company's characterization technology to the development of additional product opportunities.
Momenta is a biotechnology company specializing in the detailed structural analysis of complex mixture drugs. Momenta is applying its technology to the development of generic versions of complex drug products as well as to the discovery and development of novel drugs. The Company's most advanced product candidate, M-Enoxaparin, is designed to be a technology-enabled generic version of Lovenox(r). Momenta's first novel drug candidate is M118, a rationally engineered anticoagulant specifically designed for Acute Coronary Syndromes. Within the Company's discovery program, it is seeking to discover and develop novel therapeutics by applying its technology to better understand sugars' functions in biological processes, with an initial focus in oncology. Momenta was founded in 2001 based on technology initially developed at Massachusetts Institute of Technology and is headquartered in Cambridge, MA.
To receive additional information about Momenta, please visit the website at http://www.momentapharma.com, which does not form a part of this press release.
Forward Looking Statements
Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements relating to the Company's current and future development efforts with respect to M118 may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as ``anticipate,'' ``believe,'' ``could,'' ``could increase the likelihood,'' ``hope,'' ``target,'' ``project,'' ``goals,'' ``potential,'' ``predict,'' ``might,'' ``estimate,'' ``expect,'' ``intend,'' ``is planned,'' ``may,'' ``should,'' ``will,'' ``will enable,'' ``would be expected,'' ``look forward,'' ``may provide,'' ``would'' or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors referred to in the Company's Annual Report on Form 10-Q for the year ended June 30, 2007 filed with the Securities and Exchange Commission under the section ``Risk Factors,'' as well as other documents that may be filed by Momenta from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Momenta is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Our logo, trademarks, and service marks are the property of Momenta Pharmaceuticals, Inc. All other trade names, trademarks, or service marks are property of their respective owners.
Source: Momenta Pharmaceuticals
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