Pharmacopeia Appoints Martin H. Soeters and Dennis Langer to Board of Directors
07 Mai 2007 - 2:30PM
PR Newswire (US)
Company Also Changes Name to Pharmacopeia, Inc. PRINCETON, N.J.,
May 7 /PRNewswire-FirstCall/ -- Pharmacopeia (NASDAQ: PCOP), an
innovator in the discovery and development of novel small molecule
therapeutics, today announced the elections of Martin H. Soeters
and Dennis Langer, M.D., J.D., to the company's Board of Directors.
Mr. Soeters and Dr. Langer bring extensive pharmaceutical industry
experience to Pharmacopeia's board, offering high-level expertise
in a variety of key business areas such as product development,
marketing, and sales. They will replace James J. Marino, Esq. and
Gary E. Costley, Ph.D., on Pharmacopeia's board. With more than 30
years of experience in the pharmaceutical industry, Mr. Soeters
presently serves as President in the United States and Senior Vice
President for North America for Novo Nordisk Inc., a global
healthcare company and worldwide leader in diabetes care. In this
position, he is responsible for approximately 3,000 employees and
more than $2 billion in revenue. Mr. Soeters is of Dutch origin and
began his career with Novo Nordisk at the Dutch affiliate. In his
27 years of service to Novo Nordisk, Mr. Soeters has also held the
positions of Senior Vice President, International Marketing for
Novo Nordisk A/S in Denmark, and General Manager of Novo Nordisk
affiliates in France and Belgium. He also presently serves on the
senior management board of Novo Nordisk A/S and the Board of
Directors of Cubist Pharmaceuticals, Inc. Dr. Langer has served as
a Managing Partner of Phoenix IP Ventures, a venture capital firm,
since August 2005. Prior to joining Phoenix IP Ventures, he was
President, North America, of Dr. Reddy's Laboratories Limited, an
emerging global pharmaceutical company. Previously, Dr. Langer was
with GlaxoSmithKline for nine years. His last position at GSK was
Senior Vice President, Project and Portfolio Management. In
addition, Dr. Langer was responsible for Alliance Management and
was a member of the R&D Executive Team. Prior to the merger of
Glaxo Wellcome and SmithKline Beecham, he was Senior Vice
President, Product Development Strategy and Senior Vice President,
Research and Development, Healthcare Services for SmithKline
Beecham. He also held management positions with Searle, Abbott, and
Eli Lilly. Dr. Langer served as the first President and Chief
Executive Officer of Neose Technologies, Inc. Dr. Langer earned an
M.D. from Georgetown University School of Medicine, a J.D. (cum
laude) from Harvard Law School, and a B.A. in Biology from Columbia
University. Dr. Langer also serves on the Boards of Myriad
Genetics, Inc. and Cytogen Corporation, and is a Clinical
Professor, Department of Psychiatry, Georgetown University School
of Medicine. "Martin and Dennis both possess broad skill sets and
extensive experience in areas such as product development, global
and local marketing, and pharmaceutical sales which will prove very
valuable to Pharmacopeia as we continue to advance our internal
drug pipeline toward the market," said Les Browne, Ph.D., President
and Chief Executive Officer of Pharmacopeia. "Special thanks to
Gary and Jim, who have served Pharmacopeia and its stockholders
loyally and diligently since before the transition of Pharmacopeia
to a therapeutic product focused company." Pharmacopeia also
announced today that its stockholders have approved changing the
company's name to Pharmacopeia, Inc. Previously named Pharmacopeia
Drug Discovery, Inc., the company adopted the new name to reflect
its status as a clinical development-stage company. ABOUT
PHARMACOPEIA Pharmacopeia is committed to discovering and
developing novel therapeutics to address significant medical needs.
The Company has a broad portfolio advancing toward clinical
validation, both independently and with partners. Pharmacopeia's
most advanced internal program is a dual-acting angiotensin and
endothelin receptor antagonist (DARA) for hypertension and diabetic
kidney disease for which Phase 1 clinical trials are underway.
Other internal proprietary programs address primarily
immunoregulation. Pharmacopeia's collaborative efforts have
resulted in a portfolio that includes one partnered program
currently in Phase 2 clinical trials targeting chronic obstructive
pulmonary disease (COPD) and four partnered programs in Phase 1
clinical trials targeting rheumatoid arthritis, oncology, metabolic
and inflammatory diseases. Four additional partnered compounds are
in preclinical development. Pharmacopeia's current strategic
partnerships are with Cephalon, GlaxoSmithKline, Organon and Wyeth.
Contact: Brian M. Posner Executive Vice President and Chief
Financial Officer Pharmacopeia, Inc. (609) 452-3643 This press
release, and oral statements made with respect to information
contained in this press release, constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include those
which express plan, anticipation, intent, goal, contingency or
future development and/or otherwise are not statements of
historical fact. These statements are based upon management's
current expectations and are subject to risks and uncertainties,
known and unknown, which could cause actual results and
developments to differ materially from those expressed or implied
in such statements. These forward- looking statements include, but
are not limited to, statements about the successful implementation
of Pharmacopeia's strategic plans, Pharmacopeia's plans to develop
PS433540, a product candidate from its DARA program, Pharmacopeia's
Phase 1 clinical studies and proposed Phase 2 clinical studies with
respect to PS433540, including timing and expected outcomes of such
studies, Pharmacopeia's estimates of the market opportunities for
its product candidates, including PS433540, Pharmacopeia's ability
to successfully perform under its collaborations with Cephalon,
GlaxoSmithKline, Organon and Wyeth, Pharmacopeia's ability to build
its pipeline of novel drug candidates through its own
internally-funded drug discovery programs, third party
collaborations and in-licensing, Pharmacopeia's ability to raise
additional capital, Pharmacopeia's expectations concerning the
development priorities of its collaborators, their ability to
successfully develop compounds and its receipt of milestones and
royalties from the collaborations, Pharmacopeia's anticipated
operating results, financial condition, liquidity and capital
resources, Pharmacopeia's expectations concerning the legal
protections afforded by U.S. and international patent law,
Pharmacopeia's ability to pursue the development of new compounds
and other business matters without infringing the patent rights of
others, additional competition, and changes in economic conditions.
Further information about these and other relevant risks and
uncertainties may be found in Pharmacopeia's Reports on Form 8-K,
10-Q and 10-K filed with the U.S. Securities and Exchange
Commission. Pharmacopeia urges you to carefully review and consider
the disclosures found in its filings which are available in the SEC
EDGAR database at http://www.sec.gov/ and from Pharmacopeia at
http://www.pharmacopeia.com/. All forward-looking statements in
this press release and oral statements made with respect to
information contained in this press release are qualified entirely
by the cautionary statements included in this press release and
such filings. These risks and uncertainties could cause actual
results to differ materially from results expressed or implied by
such forward-looking statements. These forward-looking statements
speak only as of the date of this press release. Pharmacopeia
undertakes no obligation to (and expressly disclaims any such
obligation to) publicly update or revise the statements made herein
or the risk factors that may relate thereto whether as a result of
new information, future events, or otherwise. DATASOURCE:
Pharmacopeia CONTACT: Brian M. Posner, Executive Vice President and
Chief Financial Officer, Pharmacopeia, Inc., +1-609-452-3643, Web
site: http://www.pharmacopeia.com/
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