TARRYTOWN, N.Y., June 09, 2016 (GLOBE NEWSWIRE) -- Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX), an oncology company developing innovative medicines and other products for targeting and treating cancer, today announced the election of Bradley Campbell to the Company’s Board of Directors. Mr. Campbell brings to Progenics extensive experience in the biopharmaceutical industry, with particular expertise in the areas of corporate strategy, commercial operations and planning, business development and sales and marketing. He currently serves as President and Chief Operating Officer of Amicus Therapeutics, a biotechnology company focused on the development of therapies for a broad range of rare and orphan diseases.
“As we continue to progress toward key milestones, including the upcoming July 19th PDUFA date for Oral RELISTOR® and pivotal Phase 2b topline results for AZEDRATM, we welcome Bradley to our Board of Directors and look forward to leveraging his commercial and operational expertise,” said Mark Baker, Chief Executive Officer of Progenics. “His leadership will be invaluable not only as we advance AZEDRA, our ultra-orphan radiotherapy drug candidate, toward potential FDA approval, but also work to advance and commercialize our prostate cancer portfolio.”
“The Progenics team has assembled a diverse portfolio of assets that I believe hold significant value for patients and compelling opportunity for shareholders,” said Mr. Campbell. “I am eager to begin working with my fellow directors and the senior leadership team as the Company grows and transitions from an R&D-focused organization to a fully-integrated commercial-stage oncology company.”
Prior to joining Amicus Therapeutics in 2006, Mr. Campbell held senior positions at Genzyme from 2002 to 2004 and, before that, Bristol-Myers Squibb from 1999 to 2000. Mr. Campbell began his career at Marakon, a global management consulting firm. He received a Bachelor of Arts degree in public policy studies from Duke University and an MBA from Harvard Business School.
Progenics Pharmaceuticals, Inc. is developing innovative medicines and other products for targeting and treating cancer, with a pipeline that includes several product candidates in later-stage clinical development. These products in development include therapeutic agents designed to precisely target cancer (AZEDRA® and 1095), and PSMA-targeted imaging agents for prostate cancer (1404 and PyLTM) intended to enable clinicians and patients to accurately visualize and manage their disease. Progenics recently entered into an agreement with a subsidiary of Bayer AG granting Bayer exclusive worldwide rights to develop and commercialize products using our PSMA antibody technology in combination with alpha-emitting radionuclides. In addition, in late 2015 Progenics acquired EXINI Diagnostics AB, a leader in the development of advanced artificial intelligence-based imaging analysis tools and solutions for medical decision support. The acquisition of EXINI complements Progenics' strategy to support its imaging and therapeutic agents with sophisticated analytical tools and other technologies to help physicians and patients visualize, understand, target and treat cancer. Progenics' first commercial product, RELISTOR® (methylnaltrexone bromide) for opioid-induced constipation, is partnered with and marketed by Valeant Pharmaceuticals International, Inc.
This press release may contain projections and other "forward-looking statements" regarding future events. Statements contained in this communication that refer to Progenics' estimated or anticipated future results or other non-historical facts are forward-looking statements that reflect Progenics' current perspective of existing trends and information as of the date of this communication. Forward looking statements generally will be accompanied by words such as "anticipate," "believe," "plan," "could," "should," "estimate," "expect," "forecast," "outlook," "guidance," "intend," "may," "might," "will," "possible," "potential," "predict," "project," or other similar words, phrases or expressions. Such statements are predictions only, and are subject to risks and uncertainties that could cause actual events or results to differ materially. These risks and uncertainties include, among others, the cost, timing and unpredictability of results of clinical trials and other development activities and collaborations, such as our collaboration with Valeant on the RELISTOR oral formulation and the Phase 3 clinical program for 1404; our ability to successfully integrate EXINI Diagnostics AB and to develop and commercialize its products; the unpredictability of the duration and results of regulatory review of New Drug Applications and Investigational NDAs; market acceptance for approved products; the effectiveness of the efforts of our partners to market and sell products on which we collaborate and the royalty revenue generated thereby; generic and other competition; the possible impairment of, inability to obtain and costs of obtaining intellectual property rights; possible product safety or efficacy concerns, general business, financial and accounting matters, litigation and other risks. More information concerning Progenics and such risks and uncertainties is available on its website, and in its press releases and reports it files with the U.S. Securities and Exchange Commission. Progenics is providing the information in this press release as of its date and, except as expressly required by law, Progenics disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or circumstances or otherwise.
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