Alteon Announces Resignation of Senior Vice President Robert C. deGroof, Ph.D.
12 August 2004 - 11:30PM
PR Newswire (US)
Alteon Announces Resignation of Senior Vice President Robert C.
deGroof, Ph.D. PARSIPPANY, N.J., Aug. 12 /PRNewswire-FirstCall/ --
Alteon Inc. today announced the resignation of Robert C. deGroof,
Ph.D., Senior Vice President of Scientific Affairs, effective
September 9, 2004. Dr. deGroof joined Alteon in 1999 and has been
responsible for overseeing the clinical development of Alteon's
lead compound, alagebrium. He will continue his relationship with
Alteon as a consultant. "We thank Bob for his important
contributions to Alteon as a member of the management team, and
look forward to working with him in his new role as a clinical
consultant. During Bob's tenure at Alteon, we have completed
several important clinical trials of alagebrium and have recently
launched more definitive Phase 2 studies," said Kenneth I. Moch,
President and CEO. "In addition, Bob has helped put in place a team
of senior professionals with deep clinical and regulatory
experience who will continue to lead our efforts in the development
of alagebrium." About Alteon Alteon is developing several new
classes of drugs that reverse or slow down diseases of aging and
complications of diabetes. These compounds have an impact on a
fundamental pathological process caused by protein-glucose
complexes called Advanced Glycation End-products (A.G.E.s). The
formation and crosslinking of A.G.E.s lead to a loss of flexibility
and function in body tissues, organs and vessels and have been
shown to be a causative factor in many age-related diseases and
diabetic complications. Alteon has created a library of novel
classes of compounds targeting the A.G.E. Pathway. Alteon's lead
compound alagebrium chloride (formerly ALT-711), the only A.G.E.
Crosslink Breaker in advanced human testing, has demonstrated
safety and efficacy in several Phase 2 trials and is actively being
developed for systolic hypertension and heart failure. Ongoing
clinical trials include SPECTRA (Systolic Pressure Efficacy and
Safety Trial of Alagebrium) and PEDESTAL (Patients with Impaired
Ejection Fraction and Diastolic Dysfunction: Efficacy and Safety
Trial of ALagebrium). For more information on Alteon, visit the
company's website at http://www.alteon.com/. Any statements
contained in this press release that relate to future plans, events
or performance are forward-looking statements that involve risks
and uncertainties including, but not limited to, those relating to
technology and product development (including the possibility that
early clinical trial results may not be predictive of results that
will be obtained in large-scale testing or that any clinical trials
will not demonstrate sufficient safety and efficacy to obtain
requisite approvals or will not result in marketable products),
regulatory approval processes, intellectual property rights and
litigation, competitive products, ability to obtain financing, and
other risks identified in Alteon's filings with the Securities and
Exchange Commission. The information contained in this press
release is accurate as of the date indicated. Actual results,
events or performance may differ materially. Alteon undertakes no
obligation to publicly release the result of any revision to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. DATASOURCE: Alteon Inc. CONTACT: Susan M.
Pietropaolo, Director, Corporate Communications & Investor
Relations of Alteon Inc., +1-201-818-5537 Web site:
http://www.alteonpharma.com/
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