WATERTOWN, Mass., Aug. 18 /PRNewswire-FirstCall/ -- Panacos
Pharmaceuticals, Inc. (Nasdaq: PANC) ("Panacos" or "the Company"), a
biotechnology company dedicated to developing the next generation of antiviral
therapeutic products, today announced the appointment of Peyton J. Marshall,
Ph.D. to the position of Executive Vice President and Chief Financial Officer
effective August 17, 2005. Mr. Marshall is an experienced financial executive
with over 20 years experience in public biotechnology companies and the
financial industry. At Panacos, formerly known as V.I.Technologies, Inc. or
VITEX, Mr. Marshall will oversee financial operations, compliance and
reporting, corporate financing activities, investor and public relations,
facilities and information technology.
Over the previous eight years, Mr. Marshall was Chief Financial Officer of
EPIX Pharmaceuticals and Chief Financial Officer of The Medicines Company,
where his responsibilities and experience have encompassed financial
management, corporate fundraising and strategic planning spanning the full
range of pharmaceutical business activities, including collaboration
agreements, clinical trials, regulatory approval and commercial launch. In
these roles, his experience has included raising over $400 million through
equity and debt transactions, overseeing internal financial control and
reporting systems and implementing Sarbanes-Oxley compliance. Prior to joining
The Medicines Company, he was an investment banker with UBS and Goldman, Sachs
based in London. Mr. Marshall received an A.B. in Economics from Davidson
College and a Ph.D. in Economics from the Massachusetts Institute of
Technology.
Samuel K. Ackerman, MD, Chairman and CEO, commented, "We are thrilled to
have Peyton join our senior management team. His extensive experience in
corporate finance, fundraising and strategic thinking add major strengths to
our growing management team as we pursue our objective of becoming a top tier
biopharmaceutical company." Dr. Ackerman continued, "His prior successes bear
witness to his exceptional skill set in areas vital to Panacos at our current
dynamic stage of growth."
"I am delighted to be joining the Panacos team at a very exciting time for
the Company," said Mr. Marshall. "PA-457 has tremendous potential to improve
care for HIV patients and the Company has developed a great foundation for
continued leadership in discovering and developing innovative antiviral
drugs."
About Panacos
Panacos is developing the next generation of antiviral products. The
Company is engaged in the discovery and development of small molecule oral
drugs for the treatment of HIV and other major human viral diseases. Our
proprietary discovery technologies and lead therapeutic candidate, PA-457,
focus on novel targets in the virus life cycle, including virus fusion and
virus maturation. PA-457 is the first in a new class of HIV drugs called
Maturation Inhibitors discovered by the Company, with broad activity against
HIV, including strains resistant to currently approved drugs, the leading
cause of HIV treatment failure. It is currently in Phase 2 clinical testing
for treatment of HIV infection. For more information on Vitex, please visit
our web site at: http://www.panacos.com.
Except for the historical information contained herein, the matters
discussed are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. These
statements involve risks and uncertainties, such as the progress of clinical
development of PA-457 and the timing of results of clinical trials, the
execution of the Company's financing plans, the timely availability of new
products, market acceptance of the Company's products, the impacts of
competitive products and pricing, government regulation of the Company's
products, the Company's ability to complete product development collaborations
and other strategic transactions and other risks and uncertainties set forth
in the Company's filings with the Securities and Exchange Commission. These
risks and uncertainties could cause actual results to differ materially from
any forward-looking statements made herein.
SOURCE Panacos Pharmaceuticals, Inc.
 back to top
Related links:
http://www.panacos.com
CONTACT:
Peyton Marshall, Executive Vice President &
CFO, Panacos Pharmaceuticals, Inc., +1-617-926-1551,
pmarshall@panacos.com
|
