FT. LEE, N.J., Oct. 28 /PRNewswire/ -- Metaphore Pharmaceuticals, Inc., an emerging pharmaceutical company developing drugs for the treatment of pain, autoimmune disorders and inflammation, today announced that its Board of Directors has appointed Richard U. De Schutter as the new Chairman of the Board. Constantine E. Anagnostopoulos, Ph.D., Metaphore's current Chairman of the Board, will remain as a member of the Board of Directors.
Dr. Anagnostopoulos has been a member of Metaphore's Board of Directors since 1999 and served as its Chairman of the Board since 2002. During his tenure, Dr. Anagnostopoulos' responsibilities have included Executive Committee member and Chairman, Compensation Committee Chairman, Audit Committee member and Strategic Planning Committee member. Dr. Anagnostopoulos continues to serve on the Compensation and Corporate Governance Committees of Metaphore's Board of Directors.
Mr. De Schutter joined Metaphore's Board of Directors as Vice Chairman in February 2002. In addition, Mr. De Schutter served as Chairman of the Strategic Planning Committee, playing instrumental roles in Metaphore's business development initiatives as well as in the strategic directional advancement of the company's drug candidates.
Mr. De Schutter is a leading pharmaceutical executive whose career includes board directorships and senior executive positions at G.D. Searle, Monsanto, Pharmacia, and DuPont Pharmaceuticals. Mr. De Schutter currently serves on the boards of publicly-traded Smith & Nephew Plc., Incyte Genomics, Ecolab, Inc. and Varian Inc.
"The Board of Directors and the management team at Metaphore wish to thank Dr. Anagnostopoulos for all of his valuable contributions, insight and dedication over the years. Dr. Anagnostopoulos has played an integral role in Metaphore's development," said Alan W. Dunton, M.D. Metaphore's President and Chief Executive Officer. "As the Company continues to advance its lead compounds, we are pleased Mr. De Schutter will serve as Metaphore's Chairman of the Board. Mr. De Schutter has been an important resource for the company and his breadth of experience in the pharmaceutical industry will provide additional strategic direction and guidance as he assumes the role of Chairman."
About M40403 and SOD Mimetics
Metaphore's lead compound, M40403iv, is a synthetic version of a naturally occurring enzyme produced by the body known as superoxide dismutase (SOD). SOD functions in the body to neutralize free radicals, thereby reducing inflammation, preventing tissue injury and reducing pain. These free radicals, called superoxides, are overproduced in the presence of cell or tissue injury, inflammation and many disease processes. Elevated levels of superoxides can overwhelm the body's natural production of SODs, resulting in a continuing cycle of cell injury, inflammation, and pain. Metaphore has developed SOD mimetics (SODm), which are synthetic compounds that mimic the actions of SODs and supplement the body's natural process of reducing inflammation, limiting cellular damage and relieving pain.
In addition, SODm has the ability to substantially contribute to the pain relieving benefits associated with opioids. In Phase II Clinical Trials, M40403 markedly improved the pain relief produced by opioids while making them more effective and more predictable. In independent tests by the National Institute on Drug Abuse, M40403 was found to have no addictive properties or abuse liability.
More about the Company
Metaphore Pharmaceuticals, Inc. is a privately held, emerging pharmaceutical company which discovers, develops and will market drugs that prevent and treat pain, autoimmune disorders and inflammation. The company leverages its expertise in chemistry and biology to discover and develop small molecule compounds that mimic the activity of human enzymes. Metaphore's lead compounds mimic the function of superoxide dismutase (SOD), a beneficial enzyme that serves an important protective role in the body by removing superoxide, a toxic free radical that can damage cells and tissues. Superoxide anions are implicated in a variety of diseases associated with pain and inflammation.
Metaphore has a global, multilayered intellectual property estate covering its broad class of compounds including composition of matter and use patents. This IP estate includes 70 issued and 63 pending worldwide patents.
Product candidates in U.S. clinical testing have broad therapeutic potential across a variety of diseases. Metaphore currently focuses its clinical development efforts in pain, rheumatoid arthritis and inflammatory disorders. These markets are significant in terms of scope and size. The company maintains offices in Fort Lee, New Jersey and St. Louis, Missouri. For more information on Metaphore, please visit the Web site at: http://www.metaphore.com/.
This press release contains forward-looking statements based on information available to Metaphore as of the date hereof. In some cases, you can identify these forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," or the negative of these terms or other comparable terminology. Metaphore's actual results could differ materially from the results stated or implied by such forward-looking statements due to a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, general economic and business conditions, changes in governmental laws and regulations relating to the development and commercialization of pharmaceutical products, and competition in our industry. In addition, we are developing several products for potential future marketing. There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, even if such regulatory clearance were received, such products would ultimately achieve commercial success. Metaphore disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Metaphore Pharmaceuticals, Inc.