ROCKVILLE, Md., April 30 /PRNewswire-FirstCall/ -- EntreMed, Inc. , a clinical-stage biopharmaceutical company developing therapeutics primarily for the treatment of cancer, today announced that Neil Campbell will step down as EntreMed President & Chief Operating Officer effective May 30, 2004. EntreMed's Board of Directors has been engaged in a search for a Chief Executive Officer to lead the Company's day-to-day operations and expects to conclude the search in the near future. Mr. Campbell will continue his relationship with the Company to facilitate a smooth transition.
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EntreMed Chairman of the Board, Michael Tarnow, commented, "Neil has played a key role in positioning EntreMed as a viable company with a solid drug candidate pipeline. Under Neil's leadership, EntreMed returned to stable financial ground, completed the corporate transition to a small molecule- focused company and redirected the R&D efforts, including our clinical program. The Board, along with the entire EntreMed team, thanks Neil for his dedication, leadership and contributions to the Company."
Neil Campbell stated, "EntreMed's transition has been achieved successfully and I am proud of the Company's progress. I intend to explore other opportunities that would be unavailable to me, if I remained with EntreMed."
EntreMed, Inc. is a clinical-stage biopharmaceutical company developing therapeutic candidates primarily for the treatment of cancer. Panzem(R), the Company's lead drug candidate, is currently in clinical trials for cancer, as well as preclinical development for indications outside of oncology. EntreMed's research and development programs are designed to identify new chemical entities by understanding the interrelationships of cell cycle regulation, inflammation, coagulation and angiogenesis -- processes vital to the treatment of multiple diseases, including cancer. These programs have led to the identification of new therapeutic targets such as inhibition of the tissue factor pathway and the proteinase-activated receptor-2 (PAR-2). Based on these targets, EntreMed scientists are designing additional drug candidates for in-house development or partnering opportunities. For further information, visit the Company's website at http://www.entremed.com/.
Forward Looking Statements
This release contains, and other statements that EntreMed may make may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance, strategies, expectations and goals. Forward-looking statements are typically identified by words or phrases such as "believe," "feel," "expect," "anticipate," "intend," "outlook," "estimate," "target," "assume," "goal," "objective," "plan," "remain," "seek," "trend," and variations of such words and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "might," "can," "may," or similar expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and EntreMed assumes no duty to update forward-looking statements. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in EntreMed's Securities and Exchange Commission filings under "Risk Factors," including risks relating to EntreMed's need for additional capital and the uncertainty of additional funding, the early stage of products under development; uncertainties relating to clinical trials; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company's proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).
CONTACT: Amy Finan, Senior Director, Corporate Communications & Industry Relations of EntreMed, Inc., +1-240-864-2640.
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