WALTHAM, Mass., April 13 /PRNewswire/ -- AltaRex Corp. (AXO.TO, ALXFF.OTC)
announced today the appointment of two new U.S. Directors, William R. Darrow,
M.D., Ph.D. and Robert H. Uhl.
William Darrow, M.D., Ph.D., is currently a Senior Medical Advisor to
Schering-Plough Research Institute in Kenilworth, NJ. He has over 30 years
of biotechnology and pharmaceutical industry experience, primarily in the
areas of medical operations, clinical research management and regulatory
affairs. Dr. Darrow held various positions with Schering-Plough Corporation,
including Senior Vice President, Medical Operations and Vice President,
Medical and Regulatory Affairs. His earlier experience includes senior
positions at Wallace Laboratories, CIBA-GEIGY Corporation and CIBA
Pharmaceutical Company. Among his many honors and professional activities,
Dr. Darrow is a Fellow of the Royal Society of Medicine and of the American
Academy of Pharmaceutical Physicians. Dr. Darrow earned his B.A. from Ohio
Wesleyan University, his M.D. from Western Reserve University and his Ph.D. in
Pharmacology from Case Western Reserve University.
Robert Uhl is currently Senior Vice President, Director of Research and
Specialty Pharmaceutical/Biotechnology Analyst with Leerink Swann & Company in
Boston. He has over 17 years of biotech analyst and portfolio management
experience with major investment banks and venture capital firms, including
Salomon Smith Barney, Salomon Brothers, Curran Capital Management, Eberstadt
Fleming and L.F. Rothschild. Mr. Uhl holds a B.S. degree in Microbiology
from Purdue University, and a M.S. in International Business Studies and
Strategic Market Planning from the University of South Carolina.
"The additions of Dr. Darrow and Mr. Uhl to our Board of Directors are
timely and valuable, as we continue toward our goal of filing for regulatory
approval in the United States of the Company's lead product OvaRex(R) MAb, and
obtaining a U.S. stock market listing" noted Antoine A. Noujaim, Ph.D.,
Chairman of the Board of AltaRex. "On behalf of the entire AltaRex board, I
am extremely pleased to welcome Dr. Darrow and Mr. Uhl. Their strengths
enhance the AltaRex Board, which is well represented by its members' expertise
in a variety of disciplines, both in the United States and Canada."
About AltaRex
AltaRex Corp. is focused on the research, development and
commercialization of antigen-targeted antibody-based cancer therapies,
utilizing monoclonal antibodies as immunotherapeutic agents for the treatment
of certain late-stage cancers. OvaRex(R) MAb targets the tumor associated
antigen CA 125 and is in the final stages of clinical evaluation for ovarian
cancer with commercialization expected in the United States, assuming timely
regulatory approval, in 2002. Clinical data reported to date evidence a
prolongation in time to relapse and/or survival in the treatment of ovarian
cancer, without the toxicities seen with chemotherapy. BrevaRex(R) MAb
targets the tumor associated antigen MUC1 and has successfully completed a
Phase I safety and immunology study. The Company plans to initiate a Phase
I/II clinical study of BrevaRex(R) MAb for the treatment of multiple myeloma
this year. ProstaRex(TM) MAb targets the tumor associated antigen PSA and has
successfully demonstrated robust immune responses in preclinical study.
Additional information about AltaRex (AXO.TO, ALXFF:OTC) research and
development, news and events can be found on its web site at http://www.altarex.com.
Clinical information can also be found at http://www.centerwatch.com. Additional
information about ovarian cancer can be found at http://www.nci.nih.gov,
http://www.ovarian.org., http://www.ovariancancer.org and at http://www.ovariancanada.org.
This news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially from
the statements made. For this purpose, any statements that are contained
herein that are not statements of historical fact may be deemed to be forward-
looking statements. Without limiting the foregoing, the words "believes,"
"anticipates," "plans," "intends," "expects" and similar expressions are
intended to identify forward-looking statements. Such risks and uncertainties
include, but are not limited to our need for capital and the risk that the
Company can not raise funds on a timely basis on satisfactory terms or at all,
changing market conditions, completion of clinical trials, patient enrollment
rates, uncertainty of pre-clinical, retrospective and early clinical trial
results, which may not be indicative of results that will be obtained in
ongoing or future clinical trials, the establishment of manufacturing
processes and new corporate alliances, the timely development, regulatory
approval and market acceptance of the Company's products, uncertainty as to
whether patents will issue from pending patent applications and, if issued, as
to whether such patents will be sufficiently broad to protect the Company's
technology, and other risks detailed from time-to-time in the Company's
filings with the United States Securities and Exchange Commission and Canadian
securities authorities.
THE TORONTO STOCK EXCHANGE HAS NOT APPROVED OR DISAPPROVED OF THE
INFORMATION CONTAINED HEREIN.
SOURCE AltaRex Corp.
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Related links:
http://www.altarex.com
Company News On-Call:
http://www.prnewswire.com/comp/128163.html or fax,
800-758-5804, ext. 128163
CONTACT:
Sondra Henrichon, Director, Investor
Relations and Corporate Communications of AltaRex Corp.,
781-672-0138, ext. 1510, or shenrichon@altarex.com; or Wayne
Hendry, Investor Relations of The Equicom Group, Inc,
416-815-0700, ext. 238, or whendry@equicomgroup.com
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