SAN DIEGO, Nov. 12 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA)
announced today that Michael G. Grey has accepted the position of president
and chief executive officer.
Mike Grey has nearly 25 years experience in the pharmaceutical and
biotechnology industries. Most recently, he was president of BioChem
Therapeutic Inc., the pharmaceutical division of BioChem Pharma Inc. Prior to
joining BioChem, Mr. Grey was president of Ansan, Inc., an early stage
biopharmaceutical company. Previously, he spent nearly 20 years with Glaxo in
various positions, including head of worldwide business development.
Robert S. Whitehead, Trega's chairman, stated, "The Board is extremely
pleased to have a person with Mike's leadership abilities, technical
background and commercial experience as the chief executive officer."
"Trega's drug discovery capabilities, including the production of
libraries of high quality, drug-like molecules, and its inflammation and
metabolic disease research programs, coupled with strong partnerships with
companies such as Novartis, Biogen and Ono, position the company well in the
biopharmaceutical industry," said Mike Grey. "I am enthusiastic about the
company's potential for continued growth and success."
Mr. Grey will take up his duties as CEO of Trega shortly, upon completion
of the formalities associated with his move from Canada to San Diego.
Trega Biosciences is a drug discovery company, utilizing combinatorial
chemistry and other technologies to pursue the discovery of novel, small-
molecule drug therapies. The company leverages its technology platform by
entering into pharmaceutical alliances, which provide partners with access to
Trega's technologies in exchange for licensing fees and potential milestones
and royalties, or by establishing joint-discovery alliances with
pharmaceutical and biotechnology companies. Trega also uses its drug
discovery technologies in its internal development programs, which are focused
today on discovering small molecules acting on melanocortin receptors.
Melanocortins are a discovered class of receptors which may be important in
the treatment of inflammatory and metabolic diseases.
Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that involve
risks and uncertainties, including whether the impending transition in
management will occur without disrupting the Company's business and
operations, whether any proposed product can be successfully formulated,
scaled-up, developed, and commercialized, whether regulatory approvals can be
obtained, the impact of competitive products and pricing, the financial
condition of the Company in the future, whether any corporate collaborations
or alliances will be successful, and other risks detailed from time to time in
Trega's Securities and Exchange Commission filings. These forward-looking
statements represent Trega's judgment as of the date of this release. Actual
results may differ materially from those projected. Trega disclaims, however,
any intent or obligation to update these forward-looking statements.
Trega's releases are on the World Wide Web at http://www.trega.com and PR
Newswire's fax-on-demand service at 1-800-758-5804, extension 374050.
SOURCE Trega Biosciences, Inc.
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Related links:
http://www.trega.com
Company News On-Call:
http://www.prnewswire.com/comp/374050.html or fax,
800-758-5804, ext. 374050
CONTACT:
Vince Reardon, Director, Corporate
Communications of Trega Biosciences, Inc., 619-410-6555
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