ROCKVILLE, Md., Feb. 5 /PRNewswire/ -- EntreMed, Inc. (Nasdaq: ENMD), a
biopharmaceutical leader in angiogenesis research and product development,
announced today that Mr. Michael Tarnow has been named Chairman of the Board
of Directors, effective immediately.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010620/ENMDLOGO )
Mr. Tarnow brings to the EntreMed Board over 30 years of broad experience
in the pharmaceutical and biotechnology industries. During a 22-year career
at Merck & Co., Inc., he served in a wide variety of positions including
heading corporate development, President and CEO of Merck Frosst Canada and
Executive Vice President of Merck-Medco. From 1995-2000 he was President and
CEO of Boston-based Creative BioMolecules, Inc. Currently, Mr. Tarnow is an
advisor to and member of the boards of directors of several healthcare-related
organizations in the U.S., Canada and Europe.
Commenting on his appointment, Mr. Tarnow said, "I am pleased to join
EntreMed at this important time in the Company's history as it transitions
towards an exciting future as a small molecule biopharmaceutical business. I
will be working closely with our Board, EntreMed President and COO Neil
Campbell and the employees to prioritize our scientific and product
development programs, to create new business opportunities, to further improve
our financial stability and to enhance shareholder value."
EntreMed Vice Chairman Wendell Starke, commented, "Michael brings the
leadership, insight, and know-how to move EntreMed's business and science
forward strategically. His years of hands-on business experience in big
pharma and in small- to mid-size biotech companies will be instrumental to
EntreMed's next phase of growth as we advance our small molecule drug
candidates, particularly Panzem(TM), from the clinic to the marketplace."
About Mr. Tarnow
Michael Tarnow has 30 years of experience in the healthcare industry,
beginning in 1973 with Merck & Co., Inc. His career as a pharmaceutical
executive included heading Merck's worldwide corporate development activities
as Executive Director of Corporate Development from 1988 to 1990. In 1990, he
was appointed President and CEO of Merck Frosst Canada, Merck's Canadian
subsidiary. In 1994, Mr. Tarnow returned to the United States as Executive
Vice President of Medco Containment Services and Merck Managed Care, where he
was responsible for initiating managed care programs in several international
markets. From 1995 to 2000 Mr. Tarnow was the President and CEO of Creative
BioMolecules, Inc. which merged with two other biotechnology companies to form
Curis, Inc. Currently, he is an advisor to and member of the boards of
directors of a number of U.S., Canadian and European companies, including
Axcan Pharma, Inc. and Ferghana Partners, Inc. Mr. Tarnow received his J.D.
from the University of Illinois and his bachelor's degree from Wayne State
University.
About EntreMed
EntreMed, Inc., is an innovative clinical-stage biopharmaceutical company
developing therapeutics that inhibit abnormal blood vessel growth associated
with over 80 diseases such as cancer, blindness and atherosclerosis. Unlike
other angiogenesis compounds, EntreMed's product candidates target disease-
associated endothelial cells only and do not disrupt normal biological
processes. EntreMed's small molecule program also targets anti-inflammatory,
anti-microtubulin and direct apoptotic processes in a wide variety of
diseases. As a result, the Company's drug candidates have shown a strong
safety profile with neither toxicity nor clinically significant side effects
reported to date. EntreMed has three Phase II clinical drug candidates in
oncology trials where doctors have reported some patients with tumor
regression and disease stabilization. The Company also has a rich pipeline,
consisting primarily of small molecules, peptides and small molecule memetic
programs under development and in preclinical studies. For further
information, visit EntreMed's web site at http://www.entremed.com .
Forward Looking Statements
This release contains, and other statements that EntreMed may make may
contain, 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, strategies, expectations and
goals. Forward-looking statements are typically identified by words or phrases
such as "believe," "feel," "expect," "anticipate," "intend," "outlook,"
"estimate," "target," "assume," "goal," "objective," "plan," "remain," "seek,"
"trend," and variations of such words and similar expressions, or future or
conditional verbs such as "will," "would," "should," "could," "might," "can,"
"may," or similar expressions. 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
EntreMed assumes no duty to update forward-looking statements. Actual results
could differ materially from those currently anticipated due to a number of
factors, including those set forth in EntreMed's Securities and Exchange
Commission filings under "Risk Factors," including risks relating to
EntreMed's need for additional capital and the uncertainty of additional
funding, the early stage of products under development; uncertainties relating
to clinical trials; 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).
CONTACT: Amy Finan, Director, Corporate Communications & Industry
Relations of EntreMed, Inc., +1-240-864-2640.
SOURCE EntreMed, Inc.
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Related links:
http://www.entremed.com
Photo Notes:Newscom:
http://www.newscom.com/cgi-bin/prnh/20010620/ENMDLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
CONTACT:
Amy Finan, Director, Corporate Communications
& Industry Relations of EntreMed, Inc., +1-240-864-2640, or cell:
+1-240-413-3300
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