Martinsried/Munich (Germany) and Waltham, Mass. and Princeton, N.J., April 19, 2006 - GPC Biotech AG (Frankfurt Stock Exchange: GPC; TecDAX index; NASDAQ: GPCB) today announced that it has created three new senior positions, hiring three executives to expand its drug development and commercialization management teams:
- Martine George, M.D., Senior Vice President, Clinical Development; - Ramona Lloyd, Ph.D., Vice President, Worldwide Regulatory Affairs & Quality Compliance; and - Margaret Ference, Vice President, U.S. Sales.
These appointments reflect the Company's expanding efforts in late-stage drug development activities and increasing focus on commercialization. All three individuals are based at the Company's Princeton, New Jersey site.
Bernd R. Seizinger, M.D., Ph.D., Chief Executive Officer, said: "We are excited and proud that GPC Biotech continues to attract highly accomplished and renowned senior executives. The three appointments announced today are all critical additions to our organization, and all will play key roles as we continue to advance our clinical development programs - especially satraplatin - through the regulatory process and eventually onto the market."
Dr. Seizinger continued, "With Dr. Martine George, we now have, along with Dr. Marcel Rozencweig, two very prominent experts in oncology drug development on the GPC Biotech team. Dr. George will work closely with Dr. Rozencweig to strategically drive forward our oncology development efforts."
Dr. George said: "I am excited to join the team at GPC Biotech and to have the opportunity to play a key role in moving such important oncology development programs like satraplatin forward. I believe the GPC Biotech programs hold the potential to help cancer patients and address important unmet medical needs."
Martine George, M.D. is a well-known oncology expert with over fifteen years of experience at major pharmaceutical companies, as well as several years as a practicing medical oncologist. Prior to joining GPC Biotech, Dr. George was Senior Vice President, Head of Oncology at Johnson & Johnson Pharmaceutical Research and Development. Before that she held a number of executive positions in the areas of clinical and medical affairs, including at Johnson & Johnson, Rhone-Poulenc Rorer (now part of Sanofi-Aventis), Sandoz Pharmaceuticals Corporation (now Novartis) and American Cyanamid.
Dr. Ramona Lloyd has fourteen years of pharmaceutical regulatory experience and has held senior regulatory positions at major pharmaceutical companies. She joined GPC Biotech from Bristol-Myers Squibb, where she was Vice President, Global Regulatory Operations. At GPC Biotech she will have worldwide responsibility for Regulatory Affairs and Quality Compliance.
Margaret Ference has twenty-five years of pharmaceutical sales experience, including senior positions at several biotechnology companies. She joined GPC Biotech from the U.S. biotechnology firm Pharmacyclics, where she was Vice President of Sales and responsible for building a new sales force to launch an oncology drug. Ms. Ference will play a critical role as GPC Biotech moves forward with its plans for commercializing satraplatin in the U.S.
GPC Biotech AG is a biopharmaceutical company discovering and developing new anticancer drugs. The Company's lead product candidate - satraplatin - has achieved target enrollment in a Phase 3 registrational trial as a second-line chemotherapy treatment in hormone-refractory prostate cancer. The U.S. FDA has granted fast track designation to satraplatin for this indication, and GPC Biotech has begun the rolling NDA submission process for this compound. GPC Biotech is also developing a monoclonal antibody with a novel mechanism-of-action against a variety of lymphoid tumors, currently in Phase 1 clinical development, and has ongoing drug development and discovery programs that leverage its expertise in kinase inhibitors. GPC Biotech AG is headquartered in Martinsried/Munich (Germany). The Company's wholly owned U.S. subsidiary has sites in Waltham, Massachusetts and Princeton, New Jersey. For additional information, please visit the Company's Web site at www.gpc-biotech.com.
This press release may contain forward-looking statements. Forward-looking statements may be, but are not necessarily, identified by words like "believe", "anticipate", "intend", "expect", "target", "goal", "estimate", "plan", "assume", "may", "will", "could" and similar expressions. Forward-looking statements include, but are not limited to, statements about the progress, timing and completion of research, development, pre-clinical studies and clinical trials for the Company's product candidates; the timing and ultimate success in obtaining regulatory approval in the U.S., Europe or any other jurisdiction for satraplatin or any other product candidates; the Company's ability to market, commercialize, achieve market acceptance for and sell the Company's product candidates; the Company's ability to adequately protect its intellectual property and operate its business without infringing upon the intellectual property rights of others; and the Company's estimates regarding anticipated operating losses, future revenues, capital requirements and needs for additional financing. Forward-looking statements in this press release are based on the Company's current expectations and projections about future events and are subject to risks, uncertainties and assumptions. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur. We direct you to the Company's Form 20-F for the fiscal year ended December 31, 2005 and other reports filed with the U.S. Securities and Exchange Commission (SEC) for additional details on the important factors that may affect the Company's future results, performance and achievements. Except as required by law, the Company disclaims any intent or obligation to publicly update or revise these forward-looking statements whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosure the Company makes on its current reports on Form 6-K to the SEC.