CHEMGENEX APPOINTS EXPERIENCED US-BASED DIRECTOR TO BOARD
MELBOURNE, Australia, and MENLO PARK, California U.S.A. (September 29, 2004): ChemGenex Pharmaceuticals (ASX: CXS) announced today the appointment of Dr Dennis Brown as an Executive Director of the company effective immediately.
Dr Brown has 25 years of experience in cancer research and drug development, and has a strong track record of managing the successful growth of biotechnology companies. He was a co-founder of Matrix Pharmaceutical Inc, which was acquired by Chiron Corporation in 2002 and was the scientific founder of ChemGenex Therapeutics in 1999.
As an Executive Director, Dr Brown will continue his leadership of the company's clinical and early stage research programs, and will work with Dr Collier to increase the company's presence in the US.
Greg Collier PhD, ChemGenex Pharmaceuticals chief executive officer says the appointment of Dr Brown is timely as the company is about to commence two Phase II clinical trials in the USA. "Dennis brings to the Board of ChemGenex Pharmaceuticals detailed understanding of clinical development and the regulatory approval process. His contributions will be invaluable as the company moves to develop its pipeline of novel disease targets and compounds in clinical trial."
About ChemGenex Pharmaceuticals Limited
ChemGenex Pharmaceuticals is a gene-based pharmaceutical development company dedicated to improving the lives of patients by developing therapeutics in the areas of oncology, diabetes, obesity, and depression. The company was formed in 2004 from the merger of AGT Biosciences of Melbourne, Australia and privately held ChemGenex Therapeutics, Inc. of Menlo Park, California. ChemGenex Pharmaceuticals currently has two compounds in Phase II clinical development, Ceflatonin® for leukemia and Quinamed® for solid tumors and has a significant portfolio of anti-cancer compounds, diabetes and obesity targets and depression and anxiety targets. The company's diabetes and obesity program is partnered with Merck KGaA and the depression and anxiety program is partnered with Vernalis. ChemGenex currently trades on the Australian Stock Exchange under the symbol "CXS".
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Certain statements made herein that use the words "estimate", "project", "intend", "expect", "believe", and similar expressions are intended to identify forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the company's technology, the ability to successfully market products in the clinical pipeline, the ability to advance promising therapeutics through clinical trials, the ability to establish our fully integrated technologies, the ability to enter into additional collaborations and strategic alliances and expand current collaborations and obtain milestone payments, the suitability of internally discovered genes for drug development, the ability of the company to meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company's technology, the market for the company's products, government regulation in Australia and the United States, changes in tax and other laws, changes in competition and the loss of key personnel. These statements are based on our management's current expectations and are subject to a number of uncertainties that could change the results described in the forward-looking statements. Investors should be aware that there are no assurances that results will not differ from those projected.