Brian J. G. Pereira, MD Named President of Advanced Magnetics
November 15 2005 - 4:30PM
PR Newswire (US)
CAMBRIDGE, Mass., Nov. 15 /PRNewswire-FirstCall/ -- Advanced
Magnetics, Inc. (AMEX:AVM) today announced the appointment of Brian
J.G. Pereira, MD as President of the Company. Dr. Pereira joins
Advanced Magnetics from his position as President and CEO of NEHCF,
Tufts-New England Medical Center and Professor of Medicine at Tufts
University. Dr. Pereira is the past-President of the National
Kidney Foundation and is a world-renowned researcher and educator
in the field of nephrology. He brings his extensive knowledge of
the factors affecting nephrology science, treatment and
reimbursement to his new post. Dr. Pereira has been a member of the
Board of Directors of Advanced Magnetics since 2004. In this new
position, Dr. Pereira will be addressing all aspects of Advanced
Magnetics' business, especially focusing on the continuing clinical
development of ferumoxytol as an intravenous iron replacement
therapy and the commercial introduction of the product to the
nephrology community. Ferumoxytol is currently in Phase III
multi-center clinical trials for the treatment of anemia in chronic
kidney disease (CKD) patients, whether or not on dialysis. Dr.
Pereira will continue to serve on Advanced Magnetics' Board of
Directors. "We are very pleased that Dr. Pereira has agreed to join
our company in this capacity," stated Jerome Goldstein, Chairman
and Chief Executive Officer. "We are most fortunate to attract an
individual of such quality, knowledge and international reputation.
This appointment signals our optimism and faith in the potential of
this product." Dr. Pereira added, "I am excited about this
opportunity. This is the first in a series of key hires to ensure
our successful commercialization and launch of ferumoxytol to the
large number of CKD patients who may benefit from its use." Dr.
Pereira was President and CEO of NEHCF, Tufts-New England Medical
Center since 2001 and has held various other positions at Tufts-New
England Medical Center since 1993. A nationally-recognized expert
on kidney disease and nephrology, Dr. Pereira has served on the
editorial board of twelve scientific journals, is the Editor of the
widely read textbook, "Chronic Kidney Disease, Dialysis and
Transplantation," and has over 200 scientific papers to his credit.
He also serves as a director of the National Kidney Foundation,
Aksys, Inc., Kidney Care Partners, Satellite Health Care Inc. and
Wellbound Inc. In addition, Dr. Pereira is a member of the advisory
boards of Amgen and Sigma-Tau Pharmaceuticals along with several
other organizations. Dr. Pereira is a graduate of St. John's
Medical College and has an MBA from the Kellogg Business School,
Northwestern University. About Advanced Magnetics Advanced
Magnetics, Inc. is a developer of superparamagnetic iron oxide
nanoparticles used in pharmaceutical products. As a leader in our
field, we are dedicated to the development and commercialization of
our proprietary nanoparticle technology for use in therapeutic iron
compounds to treat anemia, as well as novel imaging agents to aid
in the diagnosis of cardiovascular disease and cancer. For more
information about us, please visit our website at
http://www.advancedmagnetics.com/, the content of which is not part
of this press release. This document contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 and federal securities laws. Any statements
contained in this press release that do not describe historical
facts, including but not limited to, statements regarding our
optimism and faith in the potential of ferumoxytol, certain key
hires we intend to make, and our efforts to commercialize and
launch ferumoxytol to CKD patients, are forward-looking statements
that involve risks and uncertainties that could cause actual
results to differ materially from those discussed in such
forward-looking statements. Such risks and uncertainties include
the following: (1) the possibility that we may not be able to
successfully complete the clinical development of ferumoxytol, or
may not be able to complete the development in a timely or
cost-effective manner, due to the timing of enrollment of patients
in the Phase III studies, unexpected results from our clinical
sites, inadequate performance by third-party service providers
involved in the conduct of the clinical trials, deficiencies in the
design or oversight by us of these trials, or any other factor
causing an increase in expenses, a delay and/or a negative effect
on the results of the clinical studies for ferumoxytol; (2)
uncertainties surrounding the timing and results of FDA
interactions regarding the clinical development of ferumoxytol and
our ability to obtain regulatory approval for ferumoxytol from the
FDA; (3) the possibility that the results of past ferumoxytol
studies may not be replicated in future studies; (4) the
possibility that we may not be able to raise additional capital on
terms and on a timeframe acceptable to us, if at all; (5) our
reliance on a limited number of customers and our dependence on our
collaborative relationships; (6) uncertainties relating to the
cyclical nature of our product sales cycles; (7) uneven demand for
our products by end users; (8) uncertainties relating to our
ability to continue to operate at commercial scale in compliance
with FDA regulations and other applicable manufacturing
requirements when producing ferumoxytol; and (9) uncertainties
relating to patents and proprietary rights and (10) other risks
identified in our Securities and Exchange Commission filings. We
caution readers not to place undue reliance on any forward-looking
statements which speak only as of the date they are made. We
disclaim any obligation to publicly update or revise any such
statements to reflect any change in expectations or in events,
conditions or circumstances on which any such statements may be
based, or that may affect the likelihood that actual results will
differ from those set forth in the forward-looking statements.
Contact: Jerome Goldstein, CEO or Lisa Gordon, VP of Business
Development Advanced Magnetics, Inc. (617) 497-2070 DATASOURCE:
Advanced Magnetics, Inc. CONTACT: Jerome Goldstein, CEO, or Lisa
Gordon, VP of Business Development, both of Advanced Magnetics,
Inc., +1-617-497-2070 Web site: http://www.advancedmagnetics.com/
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