Celtaxsys, Inc. Hires Eric B. Springman, Ph.D. to the Position of Chief Scientific Officer  
12/10/2009 11:33:24 AM

ATLANTA, GA — December 9, 2009 – Celtaxsys, Inc., a privately held biopharmaceutical company focused on novel mechanisms of inflammation therapy, announced that it has hired Eric B. Springman, Ph.D. to the position of Chief Scientific Officer. In this new role, Dr. Springman will lead Celtaxsys’ research and drug discovery activities, and will serve on the company’s management team.

Before joining Celtaxsys, Dr. Springman was a Senior Director at Locus Pharmaceuticals, where he played a leading role in each of the company’s three IND programs. During his tenure at Locus Dr. Springman was also responsible for founding the Biology Department, integrating Structural Biology into the technology platform, garnering significant grant funding for the company’s research, and revitalizing the company’s Discovery Technologies core. Prior to Locus, Dr. Springman held positions of increasing responsibility at Roche Pharmaceuticals in Palo Alto, CA, including Acting Head of the Arthritis Therapy Area. Prior to that he worked at Arris/Axys Pharmaceuticals where he was co-leader of the partnered project resulting in Merck's Phase III drug candidate, Odanacatib. In 2007, Dr. Springman was appointed by Governor Edward Rendell to the Pennsylvania Drug, Device & Cosmetics Board.

Dr. Springman received a B.A. in Chemistry/Biology from Florida Atlantic University, a Ph.D. in Biophysics from Florida State University, and was an NRSA and American Lung Association Post-Doctoral Fellow in Pharmacology at Vanderbilt University Medical Center.

“I am excited to join Celtaxsys and help lead the Company’s efforts to commercialize its platform assets, with particular focus on selecting candidate compounds to move expeditiously into the clinic.” said Dr. Springman.

“We are delighted that Eric is joining us at such an exciting time, as we move into development of our anti-inflammatory compounds,” said Bill Reddick, President of Celtaxsys. “Eric brings a wealth of experience leading drug discovery R&D operations, and his depth of knowledge will be highly valued as our team continues to advance our therapeutic programs”.

About Celtaxsys

About Celtaxsys Celtaxsys, Inc. is focused on discovering and developing therapeutics that treat inflammation. The Company has developed proprietary technology and know-how that enables its researchers to evaluate cell migration effects induced by potential drug candidates. Through this effort Celtaxsys aims to identify and exploit novel pathways that create a new approach to treating inflammation.

Celtaxsys Forward looking Statements

Various statements in this release concerning our future expectations, plans, and prospects, including statements with respect to preclinical development plans for any compound and the potential a treatment options for Cancer, Autoimmune and Chronic Inflammatory Disease patients, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including risks related to: our approach to discover and develop novel drugs, which is unproven and may never lead to marketable products; obtaining, maintaining and protecting intellectual property utilized by our products; our ability to enforce our patents against infringers and to defend our patent portfolio against challenges from third parties; our ability to obtain additional funding to support our business activities; our dependence on third parties for development, manufacture, marketing, sales, and distribution of products; the successful development of our product candidates, all of which are in early stages of development; obtaining regulatory approval for products; competition from others using technology similar to ours and others developing products for similar uses; our dependence on collaborators; and our short operating history. In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.