FLEMINGTON, N.J., Jan. 31, 2013 /PRNewswire/ -- Arno Therapeutics, Inc. (OTCBB: ARNI), a clinical-stage biopharmaceutical company focused on the development of oncology therapeutics, today announced the appointment of Mr. Randy Thurman to its Board of Directors. With over 30 years of health care industry experience, Mr. Thurman brings a wealth of operational, financial, and business development expertise to Arno.
"We are extremely pleased to welcome Mr. Thurman to our Board of Directors," said Glenn Mattes, CEO of Arno. "With his extensive knowledge, broad industry network, and history of strong leadership, we are confident that Mr. Thurman will provide Arno with invaluable guidance as we continue the development of our company and its exciting clinical stage assets."
Mr. Thurman became an Operating Partner for AEA Investors LP in October 2012 and previously held the same role with New Mountain Capital LLC since 2008. Mr. Thurman is also Executive Chairman of CogentHMG and was previously Founder, Chairman & CEO of VIASYS Healthcare, Inc., a global leader in respiratory, neurological and medical/surgical technologies. VIASYS Healthcare Inc. was acquired in a transaction which represented a four-fold increase in enterprise value over the five years the company was public. VIASYS was named by Smart Money magazine as one of the "10 Best Investments of the Decade," and Mr. Thurman was named an Ernst & Young Entrepreneur of the Year in 2007. Prior to joining VIASYS Healthcare Inc., Mr. Thurman was CEO of Strategic Reserves, LLC, which provided strategic leadership and M&A advisory services to bio-pharmaceutical, genomic and medical device companies. As Chairman of the Board of Enzon Inc., Mr. Thurman guided the company's growth from a $70 million market capitalization to over $2.5 billion. Previously, he was Chairman & CEO of Corning Life Sciences Inc., which grew to over $2 billion in revenue and was subsequently spun off as two NYSE companies.
Earlier in his career Mr. Thurman was with Rorer Pharmaceuticals Inc., where he led its successful acquisition of Revlon Healthcare and subsequent merger with Rhone-Poulenc. He was President of both Rorer Pharmaceuticals and Rhone-Poulenc Rorer Pharmaceuticals. During his tenure, the company grew in revenue to over $3 billion and posted the highest total return to shareholders in the pharmaceutical industry. Mr. Thurman has an extensive background in corporate governance having served as chairman or director of numerous public, private and academic enterprises as well as completing the Wharton Director Institute. Mr. Thurman also served as a U.S. Air Force fighter pilot in Vietnam and graduated from the U.S. Air Force Air Command & Staff College. He holds a B.S in economics from Virginia Polytechnic Institute and an M.A in economics from Webster University.
"I am excited to join the Board of Arno and look forward to working closely with Arno's management team as we continue to develop the company's technologies," said Mr. Thurman. "With promising pre-clinical and clinical results to date, this is an exciting time to join the company, and I look forward to contributing to the advancement of the company at this pivotal stage."
About Arno Therapeutics
Arno Therapeutics is a clinical-stage biopharmaceutical company developing innovative products for the treatment of cancer. Arno has exclusive worldwide rights to develop and market three innovative anti-cancer product candidates with unique mechanisms of action. These compounds are in clinical or preclinical testing as potential best- or first-in-class products to treat hematologic malignancies and solid tumors. For more information about the company, please visit www.arnothera.com.
Forward-Looking Statements: This press release contains forward-looking statements that involve substantial risks and uncertainties. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These forward-looking statements include, without limitation, statements regarding the timing, progress and anticipated results of the clinical development of onapristone, and Arno's strategy, future operations, outlook, milestones, future financial position, future financial results, plans and objectives. We may not actually achieve these plans, intentions or expectations and Arno cautions investors not to place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Various important factors could cause actual results or events to differ materially from the forward-looking statements that we make. Such factors include, among others, risks that the results of clinical trials will not support our claims or beliefs concerning the effectiveness of onapristone or any of our other product candidates, our ability to finance the development of our product candidates, regulatory risks, and our reliance on third party researchers and other collaborators. Additional risks are described in the company's Annual Report on Form 10-K for the year ended December 31, 2011 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2012. Arno is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.
SOURCE Arno Therapeutics, Inc.