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CAPNIA, Inc. Announces Appointment Of Joseph J. Vallner As President And CEO



1/3/2007 11:38:14 AM

PALO ALTO, CA -- (MARKET WIRE) -- January 03, 2007 -- Capnia, Inc., a privately held company focused on developing new drugs to treat allergic rhinitis and migraine headaches, today announced the appointment of Joseph J. Vallner, Ph.D., as President and Chief Executive Officer. Dr. Vallner joins Capnia from Cell Genesys where he served as President and Chief Operating Officer.

"Joe is one of the biopharmaceutical industry's most seasoned and respected executives with over 30 years of academic and industrial drug development experience," said Edgar G. Engleman M.D., Chairman of the Board of Capnia and Managing Partner of Vivo Ventures, one of Capnia's major investors. "His proven track record of designing and implementing clinical trials, manufacturing drugs and getting them approved will greatly enhance and accelerate Capnia's efforts to develop its novel treatment for migraine and allergic rhinitis scheduled to enter Phase 3 clinical trials in the next 12 to 15 months."

During his seven years at Cell Genesys, Dr. Vallner co-led their efforts to commence multiple Phase 3 clinical trials of its cancer immunotherapy product, build two manufacturing facilities and establish a sales and marketing function. Prior to that, he held senior positions at Sequus Pharmaceuticals, where he was responsible for the U.S. and European approvals of two liposomal drug products before Sequus was acquired by Alza Corporation. Dr. Vallner began his career in industry at G. D. Searle & Co. in 1984 where he helped to develop three new products after which he joined Syntex Corp. where he was jointly responsible for numerous drug development programs. Before joining industry, he was an Assistant and Associate Professor of Pharmaceutics at the University of Georgia for ten years, teaching graduate and undergraduate courses in drug delivery systems, pharmacokinetics, physical pharmacy and pharmaceutical technology.

"I believe that Capnia's lead product represents a truly innovative approach for migraine and rhinitis, two disorders that affect millions of people worldwide and that remain inadequately treated," said Dr. Vallner. "I look forward to working with the Capnia team to complete the drug's final phase of clinical development and gain approval for these indications."

About Capnia

Capnia, Inc. is a privately held drug development company focused on developing novel treatments for migraine, rhinitis and other conditions. Its lead product, Capella™, is an intranasal treatment that has produced encouraging preliminary results and has been well tolerated by patients in Phase 2 clinical trials reported and published to date. Capnia's major investors are Vivo Ventures, Asset Management Partners, TeknoInvest, Alliance and Sagamore Bioventures. For more information on Capnia and its clinical development programs, please visit www.capnia.com.

Media Contact: Joe Vallner (Email Contact) 2445 Faber Place, Suite 250 Palo Alto, CA 94303 650-213-8444 ext. 12

Lisa Smiley Gillis (Email Contact) 2445 Faber Place, Suite 250 Palo Alto, CA 94303 650-213-8444 ext. 16

SOURCE: Capnia

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