Healthcare Industry News: metformin
News Release - October 18, 2007
AtheroGenics Announces Change in Chief Medical OfficerG. Alexander Fleming, M.D. Appointed Acting Chief Medical Officer
ATLANTA, GA--(Healthcare Sales & Marketing Network)--Oct 18, 2007 -- AtheroGenics, Inc. (NasdaqGM:AGIX ), a pharmaceutical company focused on the treatment of chronic inflammatory diseases, today announced the resignation of Rob Scott, M.D., Executive Vice President of Research & Development and Chief Medical Officer, to pursue other interests. Effective immediately, G. Alexander Fleming, M.D., will fill the post as Acting Chief Medical Officer. Dr. Fleming is President and Chief Executive Officer of Kinexum LLC, a prominent life sciences consulting firm, and is a former senior physician at the U.S. Food and Drug Administration and a recognized expert in diabetes therapeutic development.
"We are very much looking forward to working with Zan Fleming as he assumes this key role at AtheroGenics. We believe that his extensive and highly relevant industry experience in the diabetes therapeutic area will prove invaluable to our Company and, in particular, to our on-going Phase III ANDES trial of AGI-1067 in diabetes," stated Russell M. Medford, M.D., Ph.D., President and Chief Executive Officer of AtheroGenics. "All of us would like to thank Rob for his contributions to the Company during the past several years, and we wish him success in his future endeavors."
"Having reviewed its very large clinical database, I believe AGI-1067 has great potential to be an important treatment for diabetes," commented Dr. Fleming. "I am excited to have this opportunity to help bring it through Phase III and to patients for whom there is an acute unmet medical need in this disease area."
Dr. Fleming served twelve years as FDA Supervisory Medical Officer for diabetes and other metabolic and endocrine disorders and had assignments with the World Health Organization (WHO) and the International Conference on Harmonization (ICH). At FDA, he led reviews and was responsible for the regulation of a number of diabetes and other metabolic therapies, including insulin analogs and metformin. He brings extensive industry experience as chief medical and scientific officer and board member.
AtheroGenics is focused on the discovery, development and commercialization of novel drugs for the treatment of chronic inflammatory diseases, including diabetes and coronary heart disease (atherosclerosis). The Company's lead compound, AGI-1067, is being studied in a Phase III clinical trial called ANDES (AGI-1067 as a Novel Anti-Diabetic Agent Evaluation Study) as an oral therapy for the treatment of diabetes. In addition, the Company has a development program studying AGI-1096, an oral agent in Phase I that is being developed for the prevention of organ transplant rejection in collaboration with Astellas. For more information about AtheroGenics, please visit http://www.atherogenics.com.
Disclosure Regarding Forward-Looking Statements
Statements contained in this press release that relate to events or developments that we expect or anticipate will occur in the future are deemed to be forward-looking statements, and can be identified by words such as "believes," "intends," "expects" and similar expressions. AtheroGenics cautions investors not to place undue reliance on the forward-looking statements contained in this release. These and other such statements are subject to certain factors, risks and uncertainties that may cause actual results, events and performances to differ materially from those referred to in such statements. Additional information relating to the safety, efficacy or tolerability of AGI-1067, may be discovered upon further analysis of trial data. The Food and Drug Administration might not allow us to conduct further studies of the efficacy of AGI-1067 for the same or new endpoints, and, to the extent approved, additional clinical trial work may take a significant period of time to complete or require significant additional resources to complete. We cannot ensure that AGI-1067 will ever be approved or be proven safe and effective for use in humans. These and other risks are discussed in AtheroGenics' Securities and Exchange Commission filings, including, but not limited to, the risks discussed in AtheroGenics' Annual Report on Form 10-K for the fiscal year ended December 31, 2006 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2007 and are specifically incorporated by reference into this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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