Healthcare Industry News: Plasmin
News Release - August 28, 2008
ThromboGenics Appoints Dr. Patrik De Haes as Chief Executive OfficerProfessor Desire Collen Will Remain as Chairman of the Board and Scientific Advisor
LEUVEN, Belgium, August 28 (HSMN NewsFeed) -- ThromboGenics NV (Euronext Brussels: THR), a biotechnology company focused on novel therapies for eye disease, vascular disease and cancer, announces today that Patrik De Haes, MD, currently Chief Operating Officer, has been appointed to succeed Professor Desire Collen as the Company's new Chief Executive Officer on September 1, 2008. At the next General Shareholders Meeting Dr. De Haes will be proposed to become a member of the Board of Directors of ThromboGenics. In the mean time, he will be invited to the Board meetings.
ThromboGenics will continue to benefit from Professor Collen's significant scientific and drug discovery knowledge. Professor Collen will remain Chairman of ThromboGenics' Board of Directors. This new structure ensures the continuity of ThromboGenics' senior management.
Dr. De Haes, 50, has considerable international experience across the biotechnology and healthcare sectors spanning more than 20 years. For the last 18 months, Dr. De Haes has been ThromboGenics' Chief Operating Officer overseeing the Company's daily operations. During this period, he has been a key member of the management team that has achieved a number of transforming milestones for ThromboGenics. These include initiating the clinical development of the Company's unique anti-cancer agent TB-403, and the subsequent development deal for potentially up to EUR500 million with Roche. Dr. De Haes has also been a major contributor to the development strategy of ThromboGenics' lead product, microPlasmin, which the Company plans to advance into Phase III clinical trials in early 2009 for the treatment of a number of important eye diseases.
Prior to joining ThromboGenics, Dr. De Haes was Head of the Global Insulin Infusion Business at Roche Diagnostics in Bern, Switzerland, and a member of the Executive Committee of Roche Diabetes Care. From 1996 to 2003, he was President and CEO of Disetronic Medical Systems Inc., Minneapolis, USA, a medical device company which he developed into one of the fastest growing MedTech companies in the USA. When the company was sold to Roche in 2003, Disetronic Inc. had grown into a company of more than 200 people with sales of $50 million.
Dr. De Haes has also held senior positions in the pharmaceutical industry with Sandoz Pharma (now part of Novartis), where he led the development and commercialisation of the company's first biotech product. Dr. De Haes is a Medical Doctor, University of Leuven, Belgium, and holds a corporate MBA, University of St Thomas, Minneapolis, USA.
Professor Collen founded ThromboGenics as a spin-out of the University of Leuven and has led the Company since its inception. He has been pivotal in the Company's success, which was originally financed from the royalties of tPA, a product for the treatment of heart attacks, which was commercialised by the leading US biotech company Genentech. In the last several years, he has made a major contribution to the building of ThromboGenics' exciting development pipeline, as well as leading the Company through its successful IPO on Euronext Brussels in June 2006.
Dr. Patrik De Haes, commenting on his appointment said, "I am very pleased to have been appointed as the CEO of ThromboGenics at a very exciting time for the Company. Our recent licensing deal with Roche for TB-403, has allowed us to focus and invest in the clinical development of microPlasmin, a product which we believe could be a major advance in the treatment of a number of important eye diseases. I look forward to continue working with Desire and the rest of the senior management team, to ensure we deliver significant shareholder value from our most attractive pipeline."
Professor Desire Collen, ThromboGenics' Chairman said, "I am glad that Patrik has agreed to become ThromboGenics' new CEO. His significant international management experience and his contribution to the Company's success over the last eighteen months gives me great confidence that ThromboGenics will continue to prosper under his leadership. I am looking forward to serving ThromboGenics where I believe I can make further important contributions to the Company's success given the exciting science that is being carried out in both our labs and those of our partners."
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ThromboGenics is a biotechnology company focused on discovery and development of biopharmaceuticals for the treatment of eye disease, vascular disease and cancer. The Company has several programs in Phase II clinical development including microPlasmin, which is being evaluated as a treatment for vitreoretinal disorders and as a thrombolytic agent for vascular occlusive diseases. ThromboGenics is also developing novel antibody therapeutics in collaboration with BioInvent International; these include TB-402 (Anti-Factor VIII), scheduled to enter Phase II clinical development by the end of 2008, and TB-403 (Anti-PlGF). ThromboGenics and its development partner BioInvent, have recently signed a license agreement with Roche for TB-403 worth up to EUR500 million plus royalties. A Phase Ib clinical trial with TB-403 has recently begun in patients with late stage cancer.
ThromboGenics has built strong links with the University of Leuven and the Flanders Institute for Biotechnology (VIB) and has exclusive rights to certain therapeutics developed at these institutions. ThromboGenics is headquartered in Leuven, Belgium and has subsidiaries in Dublin, Ireland and New York, U.S. The Company is listed on Eurolist by Euronext Brussels under the symbol THR. More information is available at http://www.thrombogenics.com.
Important information about forward-looking statements
Certain statements in this press release may be considered "forward-looking". Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company's Annual Report.
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