RADFORD, Va., Dec. 13 /PRNewswire-FirstCall/ -- New River Pharmaceuticals Inc. announced today that Robert Colucci, Pharm.D., has joined the company as Vice President, Clinical Development. Dr. Colucci will be based at the company's site at the Virginia Tech Corporate Research Center in Blacksburg, Virginia, and will report to Krish Krishnan, New River's Chief Operating Officer. He will lead the clinical development of the company's analgesic compounds, including NRP290, a hydrocodone derivative being developed for the treatment of acute pain, and NRP388, being developed for the treatment of chronic pain.
"Dr. Colucci brings to New River more than 15 years' experience in pharmaceutical research and development," offered Krishnan. "His expertise in the planning and execution of preclinical and clinical trials should prove a valuable asset as we advance our analgesic compounds toward regulatory approval."
Prior to joining New River, Dr. Colucci had served as the Director, Clinical Research with Purdue Pharma L.P., where he helped develop programs in the analgesic, anti-infective and CNS therapeutic areas. He attained a bachelor of science degree in pharmacy and a doctor of pharmacy degree from the Massachusetts College of Pharmacy and Allied Health Sciences in Boston, and completed a postdoctoral fellowship in cardiovascular therapeutics at Hartford Hospital in Hartford, Connecticut.
"I believe the company's development pipeline offers a tremendous opportunity," Dr. Colucci maintained. "I look forward to working with the team at New River to continue the growth and success of the company."
About New River
New River Pharmaceuticals Inc. is a specialty pharmaceutical company focused on developing novel pharmaceuticals that are generational improvements of widely prescribed drugs in large and growing markets. For further information on New River, please visit the Company's Web site at http://www.nrpharma.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains certain forward-looking information that is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward- looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of New River Pharmaceuticals, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: those discussed and identified in the New River Pharmaceuticals Inc. annual report on Form 10-K, filed with the SEC on April 1, 2005; the timing, progress and likelihood of success of our product research and development programs; the timing and status of our preclinical and clinical development of potential drugs; the likelihood of success of our drug products in clinical trials and the regulatory approval process; our drug products' efficacy, abuse and tamper resistance, onset and duration of drug action, ability to provide protection from overdose, ability to improve patients' symptoms, incidence of adverse events, ability to reduce opioid tolerance, ability to reduce therapeutic variability, and ability to reduce the risks associated with certain therapies; the ability to develop, manufacture, launch and market our drug products; our projections for future revenues, profitability and ability to achieve certain sales targets; our estimates regarding our capital requirements and our needs for additional financing; the likelihood of obtaining favorable scheduling and labeling of our drug products; the likelihood of regulatory approval under Section 505(b)(2) under the Federal Food, Drug, and Cosmetic Act; our ability to develop safer and improved versions of widely-prescribed drugs using our Carrierwave (TM) technology; and our ability to obtain favorable patent claims. Readers are cautioned not to place undue reliance on these forward- looking statements that speak only as of the date hereof. New River Pharmaceuticals does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in New River Pharmaceuticals' annual report on Form 10-K, filed with the SEC on April 1, 2005, as well as other public filings with the SEC.
Contacts: The Ruth Group John Quirk (investors) 646-536-7029 jquirk@theruthgroup.com Zack Kubow (media) 646-536-7020 zkubow@theruthgroup.com
New River Pharmaceuticals Inc.CONTACT: Investors: John Quirk, +1-646-536-7029, jquirk@theruthgroup.com,or Media: Zack Kubow, +1-646-536-7020, zkubow@theruthgroup.com, both of TheRuth Group for New River Pharmaceuticals Inc.
Web site: http://www.nrpharma.com/
