SOUTH SAN FRANCISCO, Calif., Oct. 31 /PRNewswire-FirstCall/ -- Cell
Genesys, Inc. (Nasdaq: CEGE) today announced that Joseph J. Vallner, Ph.D.,
the company's president and chief operating officer, has resigned to become
the chief executive officer of an early-stage, private biotechnology
company. Dr. Vallner's responsibilities will be assumed by Stephen A.
Sherwin, M.D., the company's chairman and chief executive officer, and
other members of the company's executive management team. There are no
immediate plans to hire a replacement for Dr. Vallner.
"I would like to thank Joe for his many important contributions to Cell
Genesys during the past several years," said Dr. Sherwin. "Under Joe's
leadership, Cell Genesys has continued to evolve into a mature development-
stage biotechnology organization and as a result of these efforts, we are
fortunate to have a deep executive management team that will greatly
facilitate this organizational transition."
"While I very much look forward to the challenges of my new position, I
leave Cell Genesys at a time when I feel the company's future has never
been brighter," said Dr. Vallner. "In my view, Cell Genesys is very well
positioned to be among the first companies to deliver on the promise of
cancer immunotherapy."
Cell Genesys is focused on the development and commercialization of
novel biological therapies for patients with cancer. The company is
currently pursuing two clinical stage product platforms -- GVAX(R) cancer
immunotherapies and oncolytic virus therapies. Ongoing clinical trials
include Phase 3 trials of GVAX immunotherapy for prostate cancer, Phase 2
trials of GVAX immunotherapy for pancreatic cancer and leukemia, and a
Phase 1 trial of CG0070 oncolytic virus therapy for bladder cancer. Cell
Genesys continues to hold an equity interest in its former subsidiary,
Ceregene, Inc., which is developing gene therapies for neurodegenerative
disorders. Cell Genesys is headquartered in South San Francisco, CA and has
its principal manufacturing operation in Hayward, CA. For additional
information, please visit the company's website at http://www.cellgenesys.com .
Statements made herein about the company, other than statements of
historical fact, including statements about the company's progress, results
and timing of clinical trials and preclinical programs and the nature of
product pipelines are forward-looking statements and are subject to a
number of uncertainties that could cause actual results to differ
materially from the statements made, including risks associated with the
success of clinical trials and research and development programs, the
regulatory approval process for clinical trials, competitive technologies
and products, patents, continuation of corporate partnerships and the need
for additional financings. For information about these and other risks
which may affect Cell Genesys, please see the company's Annual Report on
Form 10-K for the year ended December 31, 2005 filed on March 13, 2006 as
well as Cell Genesys' reports on Form 10-Q and 8-K and other reports filed
from time to time with the Securities and Exchange Commission. The company
assumes no obligation to update the forward-looking information in this
press release.
Contact: Ina Cu
Investor Relations
650-266-3200
SOURCE Cell Genesys, Inc.
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Related links:
http://www.cellgenesys.com
CONTACT:
Ina Cu, Investor Relations of Cell Genesys,
Inc., +1-650-266-3200
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