MONTVALE, N.J., July 18 /PRNewswire-FirstCall/ -- Alteon Inc. announces that its Annual Meeting of Stockholders will be held on Friday, July 20, 2007 at 10:00 a.m. ET at the Park Ridge Marriott, 300 Brae Boulevard, Park Ridge, New Jersey.
Following the formalities of the Annual Meeting, Noah Berkowitz, M.D., Ph.D., President and Chief Executive Officer will give a presentation on the Company's product candidate pipeline. The presentation will begin at approximately 10:30 a.m. and will be accessible via webcast. Anyone may access the webcast of the company presentation through the investor relations section of Alteon's Web site at www.alteon.com. Participants are encouraged to log on to the webcast approximately 5 to 10 minutes prior to the start of the presentation. The webcast will be available for replay for 30 days.
Alteon is a biopharmaceutical company developing small molecule drugs to treat and prevent cardiovascular disease and to treat nephropathy in people with diabetes. The Company has identified several product candidates that it believes represent novel approaches to some of the largest pharmaceutical markets. The Company's portfolio includes orally bioavailable, organoselenium mimics of glutathione peroxidase. These compounds metabolize lipid peroxides and have the potential to limit myocardial damage subsequent to a myocardial infarction. Alteon's lead compound for that program, ALT-2074, is in Phase 2 clinical trials. The Company also has rights to the use of haptoglobin characterization. The Company is developing a clinical diagnostic test that can be used to identify patients at high risk for cardiovascular complications of diabetes and other diseases.
Alteon also is developing alagebrium, a proposed breaker of Advanced Glycation End-Products (A.G.E.s), for the treatment of diastolic heart failure. This disease represents a rapidly growing market of unmet medical need, particularly common among diabetic patients. Alagebrium has demonstrated relevant clinical activity in two Phase 2 clinical trials in heart failure, as well as in animal models of heart failure and nephropathy, among others. Alagebrium has been tested in approximately 1,000 patients in multiple Phase 1 and Phase 2 clinical trials, allowing Alteon to assemble a sizeable human safety database.
For more detailed information about Alteon's research and development, please visit Alteon's website at www.alteon.com.
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties including, but not limited to, the risks associated with the future clinical development of ALT-2074 and alagebrium, and other risks identified in Alteon's filings with the Securities and Exchange Commission. Further information on risks faced by Alteon are detailed under the caption "Risk Factors" in Alteon's Annual Report on Form 10-K for the year ended December 31, 2006. These filings are available on a website maintained by the Securities and Exchange Commission at http://www.sec.gov. The information contained in this press release is accurate as of the date indicated. Actual results, events or performance may differ materially. Alteon undertakes no obligation to publicly release the result of any revision to these forward- looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
CONTACT: Alteon Inc., +1-201-934-5000, firstname.lastname@example.org, or Investors,Emmanuelle Ferrer, email@example.com, or Kim Sutton Golodetz,firstname.lastname@example.org, both of Lippert, Heilshorn & Associates, Inc.,+1-212-838-3777, for Alteon Inc.