ROCKVILLE, Md., April 7, 2008—EntreMed, Inc. (Nasdaq: ENMD), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced the retirement of Ronald E. Cape, Ph.D. as Director, effective June 5, 2008.
Dr. Cape has been a Director of EntreMed since 2003, and has been instrumental in helping the Company chart its path forward in multi-mechanism oncology drugs. Dr. Cape was the co-founder, Chairman and CEO of Cetus Corporation, a world leader and pioneer in genetic engineering, including the discovery and development of the polymerase chain reaction (PCR), for which Cetus scientist Kary Mullis received the Nobel Prize. Cetus later merged with Chiron Corporation. Dr. Cape was the founding chairman of Darwin Molecular Corporation, which was later sold to Chiroscience plc. He was also a founding member of the Biotechnology Industry Organization and served as its President for three years.
Dr. Cape is a fellow of the American Academy of Arts and Sciences, the American Academy of Microbiology and the American Association for the Advancement of Science. He is the recipient of many awards, including the 2007 Biotechnology Heritage Award, and has held dozens of prestigious board positions in the public and private sectors. In recent years, Dr. Cape has been an investor in the field of biotechnology and a board member of various public and private companies. He has also served on the boards of Princeton University, Rockefeller University, the Whitehead Institute at MIT, and the Board of Regents of the NIH National Library of Medicine.
In announcing his pending retirement, Dr. Cape commented, “I am pleased to have served on the EntreMed Board during its rebuilding period. The Company has promising programs that are making good progress, but I would now like to spend more time with my family and friends. I wish everyone at EntreMed continued progress.”
EntreMed Board Chairman, Michael M. Tarnow commented, “Dr. Cape has been a distinguished member of our Board since he joined in 2003. He has been involved in the biotech industry virtually from the beginning, and he has participated actively in its development since those early days. His valuable contributions to the field of biotechnology and his contribution to EntreMed are hallmarks of his leadership and commitment to the industry. We are honored to have had the opportunity to draw from Dr. Cape’s vast knowledge and sage advice. While his service will be missed, we wish him all the best in his retirement.”
About EntreMed
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, is in a Phase 1 study in advanced cancer patients and ENMD-2076, a selective kinase inhibitor, is expected to begin a Phase 1 study in 2Q08. 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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