CARLSBAD, Calif., June 15 /PRNewswire-FirstCall/ -- Ardea Biosciences, Inc. today announced the appointment of John W. Beck, CPA and John Poyhonen, MBA to its Board of Directors.
“We are very pleased that Mr. Beck and Mr. Poyhonen have elected to join our Board of Directors. They are each highly experienced and successful biotechnology executives, and we look forward to their knowledgeable guidance as we continue to build our company,” commented Barry D. Quart, PharmD, President and CEO.
Mr. Beck is one of the founders of Metabasis Therapeutics, Inc. and brings more than 19 years of financial management experience to the Board. He is currently Metabasis’ Senior Vice President of Finance, Treasurer and Chief Financial Officer, a position he has held since 2005. Previously, he served as Vice President of Finance, Treasurer and Chief Financial Officer from 1999 to 2005. Mr. Beck served as Director of Finance from 1998 to 1999. Prior to co-founding Metabasis, he served as Director of Finance from 1996 to 1998 at Neurocrine Biosciences, Inc. and played an important role in Neurocrine’s 1996 initial public offering. Mr. Beck previously held financial management positions at high technology and financial services companies including General Dynamics and Ernst and Young LLP. Mr. Beck received a BA in accounting from the University of Washington and also holds a ThB in theology from a Seattle, Washington-based seminary. Mr. Beck is a licensed certified public accountant in the state of California and is a member of the American Institute of Certified Public Accountants and the Association of Bioscience Financial Officers.
Mr. Poyhonen has provided senior-level leadership to a number of top-tier pharmaceutical and biotechnology companies. He is currently the Senior Vice President, Chief Financial and Business Officer of Senomyx, Inc., where he was also the Vice President and Chief Business Officer from 2003 to 2004. From 1996 to 2003, Mr. Poyhonen served in various sales and marketing positions for Agouron Pharmaceuticals, a Pfizer company, including Vice President of National Sales, Vice President of Marketing and Vice President of National Accounts. While at Agouron, he oversaw the successful commercial launch of Viracept(R), a protease inhibitor for the treatment of HIV. Mr. Poyhonen received his BA in Marketing from Michigan State University and his MBA from the University of Kansas.
“These two new Directors bring many years of experience in the biotechnology industry and expertise in business development, product commercialization and corporate finance, which will greatly assist Ardea Biosciences in achieving its strategic and financial objectives,” said Barry D. Quart, PharmD, President and CEO.
These additions increase the number of Directors of Ardea Biosciences’ Board to six with three Directors meeting all independence requirements. In addition to John Beck and John Poyhonen, the members of Ardea Biosciences’ Board include Henry J. Fuchs, MD, Executive Vice President and Chief Medical Officer of Onyx Pharmaceuticals, Inc., Jack S. Remington, MD, Professor of Medicine at Stanford University, Kevin C. Tang, Managing Director of Tang Capital Management, LLC, and Barry D. Quart, PharmD, President and CEO of Ardea Biosciences, Inc.
About Ardea Biosciences, Inc.
Ardea is focused on the development of small-molecule drugs that address large pharmaceutical markets. We plan to source these development candidates from both our internal drug discovery programs and our continued in-licensing efforts. Our initial therapeutic areas of focus are viral diseases, cancer and inflammatory diseases. We believe that we are well-positioned to create shareholder value through our development activities given our ability to achieve clinical proof-of-concept relatively quickly and cost-effectively in these disease areas. The Company’s goal is to initiate clinical studies on three or more compounds this year. These compounds include RDEA806 and lead compounds from our 900 series, which are non-nucleoside reverse transcriptase inhibitors (NNRTIs) for the treatment of HIV, and RDEA119, a mitogen-activated ERK kinase (MEK) inhibitor for the treatment of cancer and inflammatory diseases.
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. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding: Ardea’s goals, its plan to source development candidates, and its goal of initiating clinical studies on three or more compounds this year. Risks that contribute to the uncertain nature of the forward-looking statements include: risks related to the outcomes of preclinical and clinical trials, risks related to regulatory approvals, delays in commencement of preclinical and clinical tests, and costs associated with internal development and in-licensing activities. These and other risks and uncertainties are described more fully in Ardea’s most recently filed SEC documents, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings “Risk Factors.” 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: Christopher W. Krueger, JD, MBA, Chief Business Officer of ArdeaBiosciences, Inc., +1-760-602-9406
Web site: http://www.ardeabiosciences.com/
