SOUTH SAN FRANCISCO, CA, Nov 06 (MARKET WIRE) --
Cytokinetics, Incorporated (NASDAQ: CYTK) announced today that Pat Gage
has been appointed to the company's Board of Directors.
Dr. Gage joins the Cytokinetics Board of Directors with over 35 years of
experience in the discovery and development of high-impact
pharmaceuticals. Since July 2002, he has served as a consultant to the
biopharmaceutical industry, including service as an advisor to venture
capital firms. From 1998 to 2002, Dr. Gage was President of Wyeth
Research and subsequently also Senior Vice President, Science and
Technology. From 1989 to 1998, he held roles of increasing responsibility
at Genetics Institute, Inc., one of the pioneers in the biotechnology
industry, first as head of Research and Development then Chief Operating
Officer and eventually as President. From 1971 to 1989, Dr Gage held
various positions in research management with Hoffmann-La Roche Inc. most
recently serving as Vice President responsible for US drug discovery.
During his career at Wyeth, Genetics Institute and Roche, he was involved
in the discovery and development of more than a dozen novel marketed
biologics, as well as many small molecule drugs.
Dr. Gage currently serves as Executive Chairman of Virdante
Pharmaceuticals, and is also a Director of Acceleron Pharma, Alvine
Pharmaceuticals and Immune Control, which are all privately held
companies. In the past, he served as Chairman and also as Interim CEO of
PDL BioPharma, Chairman of Neose Technologies, Chairman of Adnexus
Therapeutics, now a unit of Bristol Myers Squibb Research, and as a
Director of ArQule, Inc. and Serono, which was acquired by Merck KGA. Dr.
Gage earned his bachelor's degree in Physics from the Massachusetts
Institute of Technology and his Ph.D. in Biophysics from the University of
Chicago.
"We are pleased to welcome Pat to our Board of Directors at this important
next stage of Cytokinetics' evolution," stated Robert I. Blum,
Cytokinetics' President and Chief Executive Officer. "As a highly
respected and seasoned R&D executive with valuable pharmaceutical and
biotechnology industry experience, we look forward to Pat's expert
engagement and assistance in guiding our objectives to bring breakthrough
medicines towards potential registration and commercialization."
"I am excited about joining the Cytokinetics' Board," stated Dr. Gage. "I
look forward to working alongside my fellow Board members and company
management to advance truly innovative drug candidates emerging from
in-house discovery research through development to benefit patients."
About Cytokinetics
Cytokinetics is a clinical-stage biopharmaceutical company focused on the
discovery and development of small molecule therapeutics that modulate
muscle function for the potential treatment of serious diseases and
medical conditions. Cytokinetics' lead drug candidate from its cardiac
muscle contractility program, omecamtiv mecarbil (formerly CK-1827452),
is in Phase II clinical development for the potential treatment of heart
failure. Amgen Inc. holds an exclusive license worldwide (excluding
Japan) to develop and commercialize omecamtiv mecarbil and related
compounds, subject to Cytokinetics' specified development and
commercialization participation rights. Cytokinetics is independently
developing CK-2017357, a skeletal muscle activator, as a potential
treatment for diseases and conditions associated with aging, muscle
wasting or neuromuscular dysfunction. CK-2017357 is in Phase I clinical
development. Cytokinetics is also conducting non-clinical development of
compounds that inhibit smooth muscle contractility and which may be
useful as potential treatments for diseases and conditions such as
systemic hypertension, pulmonary arterial hypertension or
bronchoconstriction. In addition, prior Cytokinetics' research generated
three anti-cancer drug candidates in Phase I clinical development:
ispinesib, SB-743921 and GSK-923295. Cytokinetics is seeking a partner
for ispinesib and SB-743921 and GSK-923295 is being developed under
Cytokinetics' collaboration with GlaxoSmithKline. All of these drug
candidates and potential drug candidates have arisen from Cytokinetics'
research activities and are directed towards the cytoskeleton. The
cytoskeleton is a complex biological infrastructure that plays a
fundamental role within every human cell. Additional information about
Cytokinetics can be obtained at www.cytokinetics.com.
This press release contains forward-looking statements for purposes of the
Private Securities Litigation Reform Act of 1995 (the "Act"). Cytokinetics
disclaims any intent or obligation to update these forward-looking
statements, and claims the protection of the Safe Harbor for
forward-looking statements contained in the Act. Examples of such
statements include, but are not limited to, statements relating to
Cytokinetics' research and development activities and the properties and
potential benefits of Cytokinetics' compounds. Such statements are based
on management's current expectations, but actual results may differ
materially due to various risks and uncertainties, including, but not
limited to, potential difficulties or delays in the development, testing,
regulatory approvals for trial commencement, progression or product sale
or manufacturing, or production of Cytokinetics' drug candidates that
could slow or prevent clinical development or product approval, including
risks that current and past results of clinical trials or preclinical
studies may not be indicative of future clinical trials results, patient
enrollment for or conduct of clinical trials may be difficult or delayed,
Cytokinetics' drug candidates may have adverse side effects or inadequate
therapeutic efficacy, the U.S. Food and Drug Administration or foreign
regulatory agencies may delay or limit Cytokinetics' or its partners'
ability to conduct clinical trials, and Cytokinetics may be unable to
obtain or maintain patent or trade secret protection for its intellectual
property; Amgen's and GSK's decisions with respect to the design,
initiation, conduct, timing and continuation of development activities
for omecamtiv mecarbil and GSK-923295, respectively; Cytokinetics may
incur unanticipated research and development and other costs or be unable
to obtain additional financing necessary to conduct development of its
products; Cytokinetics may be unable to enter into future collaboration
agreements for its drug candidates and programs on acceptable terms, if
at all; standards of care may change rendering Cytokinetics' drug
candidates obsolete; others may introduce products or alternative
therapies for the treatment of indications Cytokinetics' drug candidates
and potential drug candidates may target; and risks and uncertainties
relating to the timing and receipt of payments from its partners,
including milestones and royalties on future potential product sales
under Cytokinetics' collaboration agreements with such partners. For
further information regarding these and other risks related to
Cytokinetics' business, investors should consult Cytokinetics' filings
with the Securities and Exchange Commission.
Contacts:
Cytokinetics, Incorporated
Christopher S. Keenan (Investors and Media)
Director, Investor Relations
(650) 624-3000
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