AnorMED announces departure of Vice President Communications
03 Juni 2006 - 2:58AM
PR Newswire (US)
Interim CEO confident in current management team VANCOUVER, June 2
/PRNewswire-FirstCall/ -- AnorMED Inc. (TSX: AOM, AMEX: AOM)
announced today the departure of Elisabeth Whiting, the Company's
Vice President of Communications, effective immediately. This
decision followed an assessment of overall management requirements
by the new Chair and Interim CEO, Kenneth Galbraith. "Since being
elected by shareholders on April 21, the Board of Directors has
been diligently examining the Company's current operations and
future outlook, including its capabilities to execute the Board's
new strategic direction for AnorMED," said Kenneth Galbraith. "As
the interim CEO, I am confident that the current management team is
fully capable of working together to ensure the timely completion
of the final stages of MOZOBIL(TM) development and the
implementation of an appropriate commercial strategy. The Board of
Directors will work diligently in the weeks ahead to do everything
possible to ensure that the existing management team is retained,
motivated and focused on building shareholder value through the
timely execution of the Board's approved strategic direction." The
Company will facilitate ongoing shareholder communications with
existing employees, additional short-term contract personnel and
the Company's external communications advisors. A full-time
replacement for the senior communications position will not be
sought until completion of the current search for a new President
and Chief Executive Officer currently being carried out by the
executive search firm, Russell Reynolds. The Company expects to
provide specific corporate goals for the 2007 fiscal year and an
update on the progress of MOZOBIL and its other products under
development in conjunction with the release of its annual financial
results for the fiscal year ended March 31, 2006 in a conference
call scheduled for the afternoon of June 13, 2006. About MOZOBIL
MOZOBIL is a stem cell mobilizer used in stem cell transplants, a
procedure used to restore the immune system of cancer patients who
have had treatments that previously destroyed their immune cells.
MOZOBIL works by triggering the rapid movement of stem cells out of
the bone marrow and into circulating blood. Once in the circulating
blood, the stem cells can be collected for use in a stem cell
transplant. In Phase II studies, MOZOBIL consistently demonstrated
the ability to help cancer patients generate more of their own stem
cells, resulting in an increase in the potential for these patients
to be able to undergo a stem cell transplant. MOZOBIL is currently
the subject of two Phase III clinical studies at 35 major centres
in the U.S. involving 600 cancer patients with either non-Hodgkin's
Lymphoma or multiple myeloma and who are undergoing autologous stem
cell transplantation as a part of their treatment. Both Phase III
studies are randomized, double-blind, placebo controlled,
comparative trials of MOZOBIL plus G-CSF versus placebo plus G-CSF,
the current standard drug used to stimulate additional stem cells
within bone marrow. The Company expects to complete patient
recruitment of the Phase III studies and three month follow-up of
patients by the end of 2006 and announce top-line results from the
studies in the first half of 2007. If successful, the results of
these clinical studies would be the basis for filings in the United
States, Canada, the EU and other countries seeking approval to
market MOZOBIL for these indications. About AnorMED Inc. AnorMED is
a chemistry-based biopharmaceutical company focused on the
discovery, development and commercialization of new therapeutic
products in the areas of hematology, oncology and HIV, based on the
Company's research into chemokine receptors. The Company's product
pipeline includes MOZOBIL, currently in Phase III studies in cancer
patients undergoing stem cell transplants; AMD070, currently in
Phase I/II studies in HIV patients; and several novel classes of
compounds in pre-clinical development that target specific
chemokine receptors known to be involved in a variety of diseases.
Additional information on AnorMED Inc. is available on the
Company's website http://www.anormed.com/. Note: Certain of the
statements contained in this press release may contain
forward-looking statements and forward-looking information within
the meaning of the Private Securities Litigation Reform Act of 1995
or applicable Canadian securities laws. Statements or information
regarding our strategy, future operations, future financial
position, timing and completion of clinical trials, prospects and
plans and objectives of management are forward-looking statements.
The words "anticipates, "believes", "budgets", "could",
"estimates", "expects," "forecasts", "intends", "may", "plans",
"projects", "schedule", "should", "will", "would" and similar
expressions are intended to identify forward-looking statements or
information, although not all forward-looking statements or
information contain these identifying words. Plans, intentions or
expectations disclosed in any forward-looking statements or
information should not be read as guarantees of future results or
events, and will not necessarily be accurate indications of whether
or the times at or by which such results or events will be
achieved. Forward-looking statements or information involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements or information including: we may not be
able to develop and obtain regulatory approval for MOZOBIL in stem
cell transplant indications and any future product candidates in
our targeted indications; we may not be able to establish marketing
and sales capabilities and the costs of launching MOZOBIL stem cell
transplant indications and any future products in our targeted
indications may be greater than anticipated; we rely on third
parties for the continued supply and manufacture of MOZOBIL, we may
face unknown risks related to intellectual property matters; we may
face competition from other pharmaceutical or biotechnology
companies. Investors are referred to the discussion of such risks,
uncertainties and other factors in AnorMED's Final Short Form
Prospectus dated December 1, 2005 filed on SEDAR with Canadian
securities regulatory authorities and in Exhibit 99.1 to AnorMED's
Report on Form 6-K filed with the U.S. Securities and Exchange
Commission on December 23, 2005. Forward-looking statements or
information are based on the beliefs, opinions and expectations of
the Company's management at the time they are made, and the Company
does not assume any obligation to update its forward looking
statement or information if those beliefs, opinions or expectations
change, or there is new information or other circumstances should
change other than as required by applicable law. Company Contacts:
Kenneth Galbraith Paul Brennan Chair and Interim CEO Acting
President and VP, Business Development 604-539-4738 or 604-532-4671
604-889-5320 Media Contact: Shafiq Jamal, James Hoggan &
Associates 604-739-7500 DATASOURCE: AnorMED Inc. CONTACT: Company
Contacts: Kenneth Galbraith, Chair and Interim CEO, (604) 539-4738
or (604) 889-5320; Paul Brennan, Acting President and VP, Business
Development, (604) 532-4671; Media Contact: Shafiq Jamal, James
Hoggan & Associates, (604) 739-7500
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