Alchemia Announces Appointment of Non Executive Director
March 07 2008 - 8:00AM
Business Wire
The Board of Alchemia Limited (ASX:ACL) is pleased to announce the
appointment of Mr Carlo Montagner to the position of non executive
director. Alchemia�s Chairman, Mr Mel Bridges, said, �Mr Montagner
brings to the board a wealth of experience and expertise in the
international pharmaceutical industry, particularly in the oncology
space.� �Mr. Montagner has held numerous executive positions with
high profile pharmaceutical companies including President of
Abraxis Oncology; Executive Vice President and Head of Global
Oncology for Schering, A.G.; Head of Oncology and Cardiovascular
for Sanofi-Aventis Japan and Global Senior Director Marketing and
Medical Affairs managing the commercialization of Taxotere
globally.� For the past eight years Mr Montagner has worked abroad
assisting these companies to build specialty oncology practices,
both in terms of the clinical and commercial aspects together with
the creation of dedicated sales and marketing teams. Mr Bridges
stated that �at this stage in Alchemia�s development, access to
this experience together with the extensive network of
international oncology contacts he brings, is an enormous boon for
the company.� �It is also worth noting that Mr Montagner has worked
extensively on the commercialization of Abraxane, a reformulation
of the cancer drug paclitaxel, and therefore has direct experience
of a product that is similar in concept to Alchemia�s
HA-irinotecan.� Mr Montagner recently returned from the United
States with his family to settle permanently in Australia as
President PanAsia for Abraxis Bioscience. He also has his own
company with distribution rights for several oncology drugs which
will be marketed in the Australasian region when approved. He is a
member of the Australian Institute of Company Directors. �The Board
looks forward to working with Mr Montagner in achieving Alchemia�s
goals, particularly guiding the company with the commercialization
of the HyACT technology platform.� About Alchemia Limited �
www.alchemia.com.au Alchemia is a drug discovery and development
Company founded on its chemistry expertise. The Company�s lead
program is fondaparinux (synthetic heparin, a generic version of
GlaxoSmithKline�s Arixtra�) which is expected to generate near term
revenues for the company in 2009 and was recently partnered with Dr
Reddy�s Laboratories Inc. for the US market. Alchemia�s pipeline of
assets is built on two platform technologies: HyACT� (targeted
cancer delivery) and VASTTM (drug discovery). HA-irinotecan, for
the treatment of colorectal cancer, recently achieved positive
Phase II clinical trial results.
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