Healthcare Industry News: Ortho Biotech
News Release - February 24, 2011
Spectrum Pharmaceuticals Appoints Steven M. Fruchtman, MD, an Industry Veteran, as Vice President of Clinical DevelopmentDr. Fruchtman Is a Hematologist/Oncologist With a Proven Track Record in Clinical Research
Joins Spectrum From Allos Therapeutics, Where He Led Development of FOLOTYN® For Hematologic and Oncologic Indications; Leading to FDA Approval of FOLOTYN in Relapsed and Refractory Peripheral T-Cell Lymphoma
Previously, Dr. Fruchtman Was At Novartis, Where He Was Responsible For The Development of Panobinostat For Hematologic and Oncologic Indications, and Proleukin For Renal Cell and Melanoma; and Ortho Biotech Products, a Division of Johnson & Johnson, Where He Led The Development of Doxil® and Others
IRVINE, Calif--(Healthcare Sales & Marketing Network)-- Spectrum Pharmaceuticals (NasdaqGS:SPPI ), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology, today announced the appointment of Steven M. Fruchtman, MD, to the position of Vice President of Clinical Development. Dr. Fruchtman will report directly to George Tidmarsh, MD, PhD, the Company’s Chief Scientific Officer and Head of Research and Development Operations, and will provide the strategic planning and leadership necessary for managing the Company’s clinical development of belinostat, ZEVALIN® and its other pipeline products.
“We are pleased to announce the appointment of Dr. Fruchtman as our Vice President of Clinical Development,” said Rajesh C. Shrotriya, M.D., Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals. “Steve comes to us from Allos Therapeutics, where he spearheaded the development of FOLOTYN. He was instrumental in the presentation of the FOLOTYN data to the ODAC panel that recommended and ultimately received FDA approval in relapsed/refractory Peripheral T-Cell Lymphoma. He is a board certified hematologist, and will be intimately involved with the development of belinostat and ZEVALIN in new indications including large B-cell lymphoma.”
"I am extremely excited to join Spectrum Pharmaceuticals. Spectrum has a very exciting and diversified lineup of drugs both on the market and in late-stage clinical development,” said Dr. Fruchtman. “Belinostat has the potential to be an effective treatment for not only Peripheral T-Cell lymphoma, but several other indications as well. Data from the most recent ASH 2010 Meeting shows ZEVALIN® provides durable remission rates in patients with B-Cell lymphomas. I am looking forward to bringing these potential life saving treatments to cancer patients as quickly as possible.”
Dr. Fruchtman comes to Spectrum from Allos Therapeutics, where he led the development of pralatrexate for Hematologic and Oncologic indications. After a successful academic career at Mount Sinai Hospital and Medical School in New York, where he was Chief of the Stem Cell Transplantation Program, and prior to joining Allos, Dr. Fruchtman was Senior Director of US Clinical Development and Medical Affairs for Novartis Pharmaceuticals. At Novartis, he was responsible for the development of LBH589 (Panobinostat) for hematologic and oncologic indications, and was responsible for registration trials in the United States for CML, MM, and CTCL; lead development of post marketing trials for Proleukin (IL-2) in renal cell and melanoma; and lead development of RAD001 (Afinitor) for hematological indications. Prior to his tenure at Novartis, he was the Medical Director of Hematology and Oncology Therapeutics and Clinical Affairs at Ortho Biotech Products (OBI), L.P., a division of Johnson and Johnson Pharmaceuticals. At OBI, he was responsible for the clinical development of DOXIL® Phase 4 trials in Hematological Malignancies, (Multiple Myeloma and NHL), Velcade and DOXIL® for 2nd line Multiple Myeloma, Zarnestra® (tipifarnib) Phase 1 and 2 trials in MDS and AML, Procrit® for MDS, and Yondelis® (trabectedin) Trials in Soft Tissue Sarcoma and Ovarian Cancer.
Dr. Fruchtman has served as an external reviewer for the New England Journal of Medicine, Mayo Clinic Proceedings, Experimental Hematology, European Journal of Hematology, Leukemia, and served on the editorial board of The Mount Sinai Journal of Medicine. Dr. Fruchtman is an author of more than 170 lectures, presentations, books, chapters, and abstracts. Dr. Fruchtman received his Bachelor of Arts with Honors from Cornell University, and his MD from New York Medical College.
About Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals is a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology. The Company’s strategy is comprised of acquiring, developing and commercializing a broad and diverse pipeline of late-stage clinical and commercial products. The Company markets two oncology drugs, FUSILEV and ZEVALIN and has two drugs, apaziquone and belinostat, in late stage development along with a diversified pipeline of novel drug candidates. The Company has assembled an integrated in-house scientific team, including clinical development, medical research, regulatory affairs, biostatistics and data management, formulation development, and has established a commercial infrastructure for the marketing of its drug products. The Company also leverages the expertise of its worldwide partners to assist in the execution of its strategy. For more information, please visit the Company’s website at www.sppirx.com.
Forward-looking statement – This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements include but are not limited to statements that relate to our business and its future, including certain company milestones, Spectrum's ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, leveraging the expertise of partners and employees, around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates, may not prove safe or effective, the possibility that our existing and new drug candidates may not receive approval from the FDA, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of revenues, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.
SPECTRUM PHARMACEUTICALS, INC. ®, ZEVALIN®, and FUSILEV® are registered trademarks of Spectrum Pharmaceuticals, Inc. REDEFINING CANCER CARE™ and the Spectrum Pharmaceutical logos are trademarks owned by Spectrum Pharmaceuticals, Inc.
© 2011 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
Source: Spectrum Pharmaceuticals
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