EntreMed Appoints Thomas H. Bliss as Senior Vice President of Corporate and Business Development
Experienced Biotech Business Development and Investment Banker Enhances EntreMed’s Senior Management Team
ROCKVILLE, Md., June 18, 2008 - EntreMed, Inc. (Nasdaq: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced the appointment of Mr. Thomas H. Bliss, Jr. as Senior Vice President, Corporate and Business Development. Mr. Bliss has been elected an executive officer by EntreMed’s Board of Directors and will report to the Company’s President and Chief Executive Officer, Mr. James S. Burns.
Most recently the Executive Director, Licensing at Amgen, Mr. Bliss brings nearly 20 years biotechnology business development and healthcare investment banking experience to EntreMed. In his most recent role at Amgen, Mr. Bliss was responsible for international licensing, licensing operations oversight and the coordination and communication of Amgen’s China/India Research Activities Initiative. Previous to that, Mr. Bliss was responsible for directing all Amgen acquisition activity, including the acquisition of Abgenix. Prior to joining Amgen in 2004, Mr. Bliss served as Vice President, BioPharmaceuticals Business Development at Baxter BioScience, where he directed all licensing and acquisition activities.
Mr. Bliss’ career in life science business development began in 1994 with Johnson & Johnson where he provided analytical support for all franchises and participated in the creation of billion dollar cardiovascular access and orthopedic businesses. The first half of Mr. Bliss’ career was spent as a healthcare investment banker where he raised funds and provided merger and acquisition advisory services with top tier investment banks including Lehman Brothers, Donaldson, Lufkin and Jenrette (DLJ) and SG Cowen.
Mr. Bliss commented on his appointment, “I chose to join EntreMed at this exciting juncture in its development because it allows me to be an integral part of the build-out of what I believe will become a leading biotechnology company. With three oncology products already in the clinic and a rheumatoid arthritis product entering the clinic, the Company’s clinical pipeline is ripe for a multitude of partnering and business development opportunities. In addition, EntreMed’s core research and development competency will continue to provide new compounds for potential business development initiatives. I am delighted to lead these efforts and look forward to supporting the Company’s growth strategy for developing drugs for oncology and inflammatory diseases.”
James S. Burns, EntreMed’s President and CEO commented, “It has long been our goal to advance the development of our promising clinical pipeline and to partner those product candidates in order to enhance their value and expedite their progress through the regulatory approval process. Partnering, particularly for ENMD-2076, is a principal goal of the Company in 2008. We welcome Tom to EntreMed’s senior management team to help us accomplish this milestone. I am confident that Tom’s extensive knowledge and experience will better position us to aggressively seek partnership opportunities.”
EntreMed, Inc. is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. MKC-1 is currently in multiple Phase 2 clinical trials for cancer. MKC-1 is an oral cell-cycle regulator with activity against the mTOR pathway. ENMD-1198, a novel antimitotic agent, and ENMD-2076, a selective kinase inhibitor, are in Phase 1 studies in advanced cancers. The Company also has an approved IND application for Panzem(R) in rheumatoid arthritis. EntreMed’s goal is to develop and commercialize new compounds based on the Company’s expertise in angiogenesis, cell-cycle regulation and inflammation—processes vital to the treatment of cancer and other diseases, such as rheumatoid arthritis. Additional information about EntreMed is available on the Company’s web site at www.entremed.com and in various filings with the Securities and Exchange Commission.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance (including the timing of royalty revenues and future R&D expenditures), strategies, expectations and goals. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and no duty to update forward-looking statements is assumed. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in Securities and Exchange Commission filings under “Risk Factors,” including risks relating to the need for additional capital and the uncertainty of additional funding; variations in actual sales of Thalomid(R), risks associated with the Company’s product candidates; the early-stage products under development; results in preclinical models are not necessarily indicative of clinical results, uncertainties relating to preclinical and clinical trials; success in the clinical development of any products; dependence on third parties; future capital needs; and risks relating to the commercialization, if any, of the Company’s proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks).
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