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AdipoGenix, Inc. Appoints Ed Cannon, Ph.D. As President And Chief Executive Officer


10/19/2005 5:12:01 PM

BOSTON, Jan. 7 /PRNewswire/ -- AdipoGenix Inc., a biopharmaceutical company developing products that treat obesity and it co-morbidities, today announced the appointment of seasoned biotechnology executive, Ed Cannon, Ph.D., as President and Chief Executive Officer. Tom Vogel, who joined the Company as President and CEO in 2002, will continue with AdipoGenix as an advisor and member of the Board of Directors.

In his first mission as CEO, Dr. Cannon is seeking to raise a Series A financing to fund AdipoGenix' advancement of a proprietary compound into the clinic, and to fuel continued progress in the Company's internal discovery programs, its partnership with Johnson and Johnson Pharmaceuticals, as well as strategic business development and licensing activities.

"I am very pleased to have attracted such an experienced and well-regarded entrepreneurial CEO to the leadership role at AdipoGenix," said Tom Vogel. "Ed comes to AdipoGenix with over 25 years in the industry. He has the proven ability to raise significant financing, and a scientific background which will enable him to successfully lead our drug discovery programs in the field of obesity, including driving our first compounds into the clinic."

Before joining AdipoGenix, Dr. Cannon was founding President and CEO of Elixir Pharmaceuticals, a company founded to develop a new class of pharmaceuticals by leveraging the recent discovery of genes that regulate aging and lifespan in model organisms. Prior to Elixir, Dr. Cannon was a founder, director, President Therapeutics Division, and Executive Vice President for Dyax Corp., a public biotherapeutics company. Dyax was formed in 1995 through the merger of Biotage, Inc. and Protein Engineering Corp., where Dr. Cannon was a director and CEO. Previously, he was a founder, director and CSO of Hygeia Sciences, the leading developer of monoclonal antibody-based home diagnostic products. He trained in molecular immunology at Harvard Medical School and has held faculty positions at Brandeis University and University of Massachusetts Medical School.

"I am honored to join this team of internationally recognized leaders in obesity research," said Ed Cannon. "With a productive partnership with a major pharmaceutical company, a unique and well-validated discovery technology, and an exciting set of lead compounds, AdipoGenix is well- positioned for its next stage of corporate development."

About AdipoGenix Inc.

AdipoGenix is a Boston-based biopharmaceutical company developing pharmaceuticals that target human fat tissue to treat obesity and its co- morbidities, including diabetes and cardiovascular disease. Through its proprietary human fat cell-based technology, AdipoGenix identifies nontoxic, small molecule compounds that reduce the fat content in human fat tissue, which is expected to provide therapeutic benefit for these important diseases.

AdipoGenix Inc.

CONTACT: Ed Cannon, President and CEO of AdipoGenix Inc.,+1-617-803-9630; or Kari Lampka of MacDougall BioCommunications, Inc.,+1-508-647-0209, klampka@macbiocom.com



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