Medivation (AMEX:MDV)
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Medivation, Inc. (AMEX:MDV) announced that Andrew A.
Protter, Ph.D., has joined the Company as Vice President, Preclinical
Development. Dr. Protter will serve as a member of Medivation's senior
management team, with responsibility for all preclinical development
activities.
Dr. Protter joins Medivation following a 24-year career at Scios,
Inc., where he served most recently as Vice President, Biology from
2003 to 2006. At Scios, which was acquired in 2003 by Johnson &
Johnson, Dr. Protter had responsibility for all preclinical
development activities on Natrecor(R) - a recombinant protein approved
by the FDA in 2001 to treat acute decompensated congestive heart
failure - as well as multiple small molecule product candidates. In
recognition of his work on Natrecor, Dr. Protter was awarded the 2004
Johnson Medal for Natrecor Research and Development.
Dr. Protter received a Ph.D. in Biochemistry from the State
University of New York, Stony Brook, and has published extensively in
the fields of natriuretic peptides, lipid transport and intracellular
kinases regulating inflammation, pain and fibrosis.
David Hung, M.D., President and Chief Executive Officer of
Medivation, commented: "We are extremely fortunate to have expanded
our senior management team to include Andy Protter, who brings to
Medivation an extensive track record of successful preclinical
pharmaceutical development spanning both recombinant proteins and
small molecules. Our business model relies on the ability to advance
product candidates quickly and successfully through preclinical
development and into the clinic. We look forward to working with Andy
to achieve that objective and build further value in our product
development programs."
About Medivation
Medivation, Inc. acquires promising pharmaceutical and medical
device technologies in the late preclinical development phase, and
develops those technologies quickly and cost-effectively through human
first proof-of-efficacy studies (generally the end of Phase 2 clinical
trials). Depending on the indication, Medivation will either seek to
sell or partner successful programs with larger pharmaceutical,
biotechnology and medical device companies for late-stage clinical
studies and commercialization, or alternatively conduct those
activities internally. The Company intends to build and maintain a
portfolio of 4 to 6 development programs at all times.
Medivation's current portfolio consists of small molecule drugs in
development to treat 3 large, unmet medical needs - Alzheimer's
disease, Huntington's disease and hormone-refractory prostate cancer,
the last two of which are likely Orphan Drug indications. Dimebon(TM),
with a 20-year record of human use and demonstrated efficacy in animal
studies of both Alzheimer's disease (AD) and Huntington's disease (HD)
and in a pilot clinical study of AD, is in a randomized, double-blind,
placebo-controlled Phase 2 study in AD patients in Russia, the results
of which are expected to be available in Q3 2006. Medivation also
expects to initiate a Phase 1-2a study of Dimebon in HD patients in
2006. The MDV300 series compounds are in development for the treatment
of hormone-refractory prostate cancer, and are expected to enter
clinical studies in the first half of 2007. Further information about
Medivation can be found on its website (www.medivation.com).
Safe Harbor Statement
This press release contains forward-looking statements, including
statements regarding the anticipated timing of regulatory and clinical
milestones on the Company's Alzheimer's disease, Huntington's disease
and hormone-refractory prostate cancer programs, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
risks and uncertainties that could cause actual results to differ
significantly from those projected. You are cautioned not to place
undue reliance on the forward-looking statements, which speak only as
of the date of this release. Our filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-KSB for
the year ended December 31, 2005, and our Quarterly Reports on Form
10-QSB for the quarters ended March 31, 2006 and June 30, 2006,
include more information about factors that could affect our financial
and operating results.