FAIRFIELD, N.J., Oct. 30 /PRNewswire-FirstCall/ -- Arno Therapeutics, Inc. , a clinical-stage biopharmaceutical company focused on oncology therapeutics, today announced the appointment of William F. Hamilton, Ph.D. to its Board of Directors and as chairman of the audit committee. Dr. Hamilton has over 40 years experience as a professor at The Wharton School with particular expertise in the areas of technology strategy and planning, entrepreneurship and technological innovation.
Dr. Hamilton, 69, has served on the University of Pennsylvania faculty since 1967, and is the Landau Professor of Management and Technology, and Director of the Jerome Fisher Program in Management and Technology at The Wharton School and the School of Engineering and Applied Science. As a co-founder and Director of Research, and later as Associate Director of the Institute of Health Economics, he led development of the interdisciplinary research program which was selected in nationwide competition as the National Center for Management Research in the health field. He serves as a director of NovaDel Pharma Inc., Avid Radiopharmaceuticals, Inc., Yaupon Therapeutics, Inc., Neuro Diagnostic Devices, Inc. and Neose Technologies, Inc. Dr. Hamilton received his B.S. and M.S. in chemical engineering and his MBA from the University of Pennsylvania, and his Ph.D. in applied economics from the London School of Economics.
Arie S. Belldegrun, M.D., FACS, Chairman of the Board of Directors of Arno, said, “Bill brings to Arno an impressive track record from a distinguished career in academia. We are confident that his extensive expertise in strategic management, technological innovation and entrepreneurship will be of great benefit to Arno’s Board of Directors and senior management team.”
Roger G. Berlin, M.D., Chief Executive Officer or Arno added “We are extremely pleased to welcome to our Board an executive with Bill’s outstanding leadership abilities and expertise in technology development and innovation. Bill’s insight into the complexities of biotechnology innovation and development will be invaluable in helping us achieve our strategic goals.”
About Arno Therapeutics
Arno Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops and commercializes innovative products for the treatment of cancer patients. Arno’s lead compound is AR-67, a novel third-generation camptothecin analogue in Phase I studies in patients with advanced solid tumors that has demonstrated high potency and significantly improved pharmacokinetic properties when compared with marketed second-generation products in its class. Arno is also developing two pre-clinical compounds. AR-12 is a potential first-in-class, orally available PDK1 inhibitor that blocks the PI3K/Akt pathway undergoing IND-enabling studies. AR-42 is an orally available, targeted inhibitor of the Pan-DAC and Akt pathways also undergoing IND-enabling studies. Arno is actively pursuing additional compounds to expand its portfolio. For more information on Arno please visit www.arnothera.com.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, outlook, milestones, the success of Arno’s product development, future financial position, future financial results, plans and objectives of management are forward-looking statements. 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 that could cause actual results or events to differ materially from the forward-looking statements that we make are described in greater detail in the reports we file with Securities and Exchange Commission, including those described under the caption “Risk Factors” in our Current Report on Form 8-K filed with the Securities and Exchange Commission on June 9, 2008. 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.
CONTACT: Brian Lenz, +1-862-703-7175, bl@arnothera.com, CPA, Chief
Financial Officer of Arno Therapeutics, Inc.
Web site: http://www.arnothera.com/
