>>VANCOUVER, May 20 /PRNewswire-FirstCall/ - QLT Inc. (NASDAQ: QLTI - News; TSX: QLT - News) announced today that it has strengthened its development organization with the addition of Maurice Wolin, MD, as Vice President, Clinical Research and Medical Affairs. Dr. Wolin will report to Mohammad Azab, MD, who has been promoted to Executive Vice President, Research and Development and Chief Medical Officer.
Dr. Wolin, who joined the QLT team May 20, 2003, was previously Vice President, Oncology Research and Development, Chiron Corporation, a leading global biopharmaceutical company located in Emeryville, California. Since 1996 he has held various positions of increasing responsibility in research and development and medical affairs within Chiron. In his most recent role Dr. Wolin was responsible for directing all development efforts in Chiron's oncology programs, including four marketed products as well as the development pipeline. Dr. Wolin received his MD from the State University of New York at Buffalo Medical School.
"We are delighted to have Maurice heading our clinical research team," said Dr. Azab, Executive Vice President, Research and Development and Chief Medical Officer. "Maurice will play a critical role in the future of QLT's development, including the continued expansion of Visudyne and other key development programs, as well as the identification of new programs to enhance our pipeline."
With the addition of Dr. Wolin focussed on clinical development, QLT will consolidate a number of Research and Development functions, including preclinical development, regulatory, quality, clinical research and manufacturing into an integrated R&D group, headed by Dr. Azab. Dr. Azab joined QLT as Vice President, Clinical Research and Medical Affairs in 1997.
"QLT is firmly focussed on expanding its pipeline through internal R&D programs as well as identification of early to late stage product opportunities. Maurice and Mohammad have proven pharmaceutical development experience as well as the expertise to assist our corporate development efforts in identifying new development opportunities to strengthen our pipeline," said Paul Hastings, President and CEO. "Mohammad's new role assures an integrated approach to our R&D efforts from preclinical development through manufacturing and commercialization."<<
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What other key development programs? Quite the bounce today, apparently from an analyst at Nesbitt saying yesterday's drop was related to Avastin approval. Apparently her take is that traders saw it as competition. Nice try; more precisely that would be rhuFab, a fragment of Avastin in PIII for AMD.
Disclosure: I have a small short position now, slightly underwater.
Cheers, Tuck |
