BURLINGTON, Mass., May 7, 2013 (GLOBE NEWSWIRE) -- Coronado Biosciences, Inc. (Nasdaq:CNDO), a biopharmaceutical company focused on the development of novel immunotherapy biologic agents for the treatment of autoimmune diseases and cancer, announced today that Thomas F. Schaible, Ph.D. has joined the Company as Project Leader, Inflammatory Bowel Disease. Dr. Schaible will lead Coronado's R&D efforts in advancing TSO (Trichuris suis ova or CNDO-201) in inflammatory bowel disease (IBD).
"We are excited that Dr. Schaible has joined us in developing TSO for IBD," said Dr. Harlan F. Weisman, Coronado's Chairman and CEO. "Dr. Schaible led the efforts at Johnson & Johnson (JNJ) in getting REMICADE® (infliximab) approved for Crohn's disease and rheumatoid arthritis. His extensive development and regulatory experience in IBD and other autoimmune conditions will be instrumental to progressing TSO forward. We believe the fact that we are able to attract someone with Dr. Schaible's credentials is a testament of the interest in the hygiene hypothesis within the field of immunology and TSO's potential to be a game changer for patients with IBD and other autoimmune diseases."
Most recently, Dr. Schaible was at Janssen Biotech, Inc. (JBI), which is part of the Janssen Pharmaceutical Companies of JNJ, where he was Vice President, Medical Affairs, and led the scientific and medical commercial support for JBI's marketed products and served on JBI's Management Board. During his career, Dr. Schaible led the teams that developed and gained the approval for the use of REMICADE® in treating Crohn's disease in 1998 and rheumatoid arthritis in 1999, for which he received the Johnson Medal, the highest award for research innovation at JNJ. He then started the Medical Affairs organization and had responsibility for the post-marketing research and educational initiatives that has supported REMICADE® growth since its approval, leading to worldwide sales of approximately $7 billion in 2012. As part of these efforts, Dr. Schaible's group designed and conducted the SONIC trial in Crohn's disease, a major clinical trial published in the New England Journal of Medicine, demonstrating the superiority of REMICADE® versus a conventional immunomodulator (azathioprine) in reducing signs and symptoms of the disease.
Prior to joining Centocor in 1987, which was later acquired by JNJ, Dr. Schaible was an Assistant Professor of Medicine and Physiology at the Albert Einstein College of Medicine in New York where he was the recipient of NIH RO1 grants and an NIH Research Career Development Award. Dr. Schaible holds a Bachelor of Science degree in Biology from Trinity College and a Ph.D. in Physiology from Rutgers University. He did his Postdoctoral Fellowship in Cardiac Physiology and Biochemistry at the Albert Einstein College of Medicine.
About Coronado Biosciences
Coronado Biosciences is engaged in the development of novel immunotherapy biologic agents. The company's two principal pharmaceutical product candidates in clinical development are: TSO (Trichuris suis ova or CNDO-201), a biologic for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative colitis and multiple sclerosis; and CNDO-109, a biologic that activates natural killer (NK) cells, for the treatment of acute myeloid leukemia (AML), multiple myeloma and solid tumors. For more information, please visit www.coronadobiosciences.com.
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the company's product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: our ability to attract, integrate and retain key personnel; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; our dependence on third party suppliers; and competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
CONTACT: Lucy Lu, MD, Executive Vice President & Chief Financial Officer Coronado Biosciences, Inc. 781-652-4525; firstname.lastname@example.org Marcy Nanus, Vice President The Trout Group, LLC. 646-378-2927; email@example.com Susan Forman Dian Griesel Inc. 212-825-3210; firstname.lastname@example.org