CARLSBAD, Calif., Feb. 12 /PRNewswire-FirstCall/ -- Ardea Biosciences, Inc. today announced that it has changed the location of its corporate headquarters, received a new ticker symbol and appointed key research and development management positions.
The corporate headquarters for Ardea Biosciences, Inc. is now located in Carlsbad, California at 2131 Palomar Airport Road (Suite 300). The research facilities will continue to be located in Costa Mesa, California at 3300 Hyland Avenue. The Costa Mesa research facility has approximately 60,000 square feet of laboratory space leased from Valeant Pharmaceuticals International.
As a result of the company’s name change, NASDAQ assigned “ARDC” as the company’s new ticker symbol. The stock continues to be traded on the pink sheets.
Five key management appointments were made to lead the company’s research and development organization. All five held senior positions at Valeant Pharmaceuticals International and were responsible for the research programs acquired from Valeant. They are leading over 50 new employees hired on January 2, 2007 to create a fully-integrated research and development organization at Ardea Biosciences.
Dr. Robert Hamatake, Vice President, Discovery Biology, was previously responsible for leading drug discovery projects in virology, oncology, neurology and immunology at Valeant. Prior to joining Valeant, Dr. Hamatake was with GlaxoWellcome and Bristol-Myers Squibb. Dr. Hamatake received a B.S. in Chemistry from Reed College, a Ph.D. in Chemistry from the University of California, San Diego and postdoctoral training from the University of Georgia and the National Institute of Environmental Health Sciences.
Dr. Li-Tain Yeh, Vice President, Preclinical Development, was previously responsible for overseeing the performance of drug metabolism, pharmacokinetics analysis for drug development programs. Prior to joining Valeant, Dr. Yeh was with Dow AgroScience. Dr. Yeh received a B.S. in Chemistry from National TsingHua University at Taiwan and his Ph.D. in Chemistry from Case Western Reserve University.
Dr. Jean-Michel Vernier, Senior Director, Discovery Chemistry, was previously responsible for drug discovery programs in oncology and epilepsy at Valeant. Prior to joining Valeant, Dr. Vernier was with Merck Research Laboratories and SIBIA Neurosciences. Dr. Vernier received his Ph.D. in Organic Chemistry from Louis Pasteur University at Strasbourg, France and his postdoctoral training from Colorado State University.
Dr. Jean-Luc Girardet, Senior Director, Discovery Logistics, previously led HCV and HIV chemistry project teams and managed the process chemistry function at Valeant. Prior to joining Valeant, Dr. Girardet was with Ribapharm. Dr. Girardet received B.S. degrees in Chemistry and Biochemistry and a Ph.D. in Organic Chemistry from the University of Montpellier in France and postdoctoral training at the University of Michigan.
Dr. Jingfan Huang, Senior Director, Pharmaceutical Development, was previously responsible for overseeing analytical support for Valeant’s drug discovery and development efforts. Prior to joining Valeant, Dr. Huang was with Wyeth-Ayerst Research. Dr. Huang received a B.S. in Physical Chemistry from Fudan University in China and her Ph.D. in Analytical Chemistry from the State University of New York at Buffalo.
“The appointment of these five highly qualified individuals to lead Ardea’s research and preclinical development functions was critical to rapidly progressing the research and development programs acquired from Valeant,” said Dr. Barry Quart, CEO. “I am confident that their collective talents and the teams they lead will flourish within our company’s environment of innovation, helping us to meet our corporate goal of bringing three development candidates into the clinic in 2007.”
About Ardea Biosciences, Inc.
Ardea Biosciences is focused on the discovery, development and commercialization of novel treatments for HIV, cancer and inflammatory diseases. [For more information on the Company, please go to www.ardeabiosciences.com.]
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding Ardea’s ability to meet its corporate goal of bringing three development candidates into the clinic in 2007, Ardea’s ability to rapidly progress its research and development programs and the success of new management appointments. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements due to various factors, including the risks and uncertainties inherent in drug development and commercialization. These and other risks and uncertainties are described more fully in Ardea’s most recently filed SEC documents. All forward-looking statements contained in this press release speak only as of the date on which they were made. Ardea undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Ardea Biosciences, Inc.
CONTACT: Barry D. Quart, Pharm.D., +1-714-729-5562, for Ardea Biosciences
Web site: http://www.ardeabiosciences.com//
