SAN DIEGO, Feb. 22 /PRNewswire-FirstCall/ -- Anadys Pharmaceuticals, Inc. announced today the hiring of Michael Adam, Ph.D., as Senior Vice President, Development Operations. Dr. Adam, who has 20 years of experience in drug development, will be responsible for regulatory affairs, quality assurance, pharmaceutical development and manufacturing.
"We are delighted that Michael is joining Anadys at this important time in our corporate evolution," said Kleanthis G. Xanthopoulos, Ph.D., President and Chief Executive Officer. "As we prepare to file two new INDs and initiate additional clinical trials in 2006, Michael will lead Anadys' chemical, analytical and pharmaceutical development, from identification of compounds through eventual registration and commercialization of new products."
"A critical component of expanding our development programs is to attract additional experienced and talented senior executives to our current management team," said Steve Worland, Ph.D., Executive Vice President, Pharmaceuticals. "Michael is one such person. He has an outstanding record in drug development operations, with a proven record in advancing product-candidate portfolios in multiple therapeutic areas. I'm confident Michael will be a tremendous addition to the Anadys management team."
Dr. Adam joins Anadys on March 1, 2006 and will report to Dr. Worland.
Dr. Adam has been Vice President, Pharmaceutical Sciences at Pfizer, Inc. -- Global Research & Development in La Jolla, CA since 2000. At Pfizer he led the La Jolla organization responsible for chemical, analytical and pharmaceutical development from compound identification through launch and product enhancement. Previously, he was Vice President, Worldwide Regulatory Affairs, Quality Assurance & Compliance at Agouron Pharmaceuticals, also in La Jolla, where he put together the firm's Regulatory CMC group. Prior to Agouron, he was the Director of Worldwide Regulatory Affairs, CMC Group, at Bristol-Myers Squibb, where he managed Regulatory CMC projects in CNS and CV/MD therapeutic areas. Dr. Adam earned a Ph.D. in Organic Chemistry at the Massachusetts Institute of Technology in Cambridge, MA.
About Anadys
Anadys Pharmaceuticals, Inc. is a biopharmaceutical company committed to advancing patient care by discovering, developing and commercializing novel small molecule medicines for the treatment of hepatitis, other serious infections, and cancer. The Company has core expertise in Toll-Like Receptor-based small molecule therapeutics and structure-based drug design coupled with medicinal chemistry. Anadys' clinical development programs include ANA975 for the treatment of HCV and HBV, and ANA380 for the treatment of HBV. In addition, Anadys' therapeutic platform is designed to advance a strong and continual pipeline of drug candidates into the clinic.
Safe Harbor Statement
Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, references to the belief that Dr. Adam will strengthen and accelerate Anadys' drug development activities, Anadys plan to file two new INDs and initiate additional clinical trials in 2006 and the plan for Dr. Adam to lead Anadys' chemical, analytical and pharmaceutical development, from identification of compounds through eventual registration and commercialization of new products. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause Anadys' actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. In particular, the results of initial clinical trials may not be predictive of future results, and Anadys cannot provide any assurances that any of its product candidates will have favorable results in future clinical trials or receive regulatory approval. In addition, Anadys' results may be affected by risks related to its collaborative relationships with Novartis and LG Life Sciences, competition from other biotechnology and pharmaceutical companies, its effectiveness at managing its financial resources, its ability to successfully develop and market products, the level of effort that its collaborative partners devote to development and commercialization of its product candidates, difficulties or delays in its clinical trials, difficulties or delays in manufacturing its clinical trials materials, the scope and validity of patent protection for its products, regulatory developments involving future products and its ability to obtain additional funding to support its operations. These and other factors that may cause actual results to differ are more fully discussed in the "Risk Factors" section of Anadys' Form 10-Q for the quarter ended September 30, 2005. All forward-looking statements are qualified in their entirety by this cautionary statement. Anadys is providing this information as of this date and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
Anadys Pharmaceuticals, Inc.CONTACT: Vince Reardon, Sr. Director, Investor Relations & CorporateCommunications of Anadys Pharmaceuticals, Inc., +1-858-530-3653,vreardon@anadyspharma.com
Web site: http://www.anadyspharma.com//
