To All:
Vimrx Names William Wong, Ph.D, Vice President of Business Development for New Cell Therapy Company
WILMINGTON, DE--(BUSINESS WIRE)--Feb. 23, 1998--VIMRX Pharmaceuticals Inc. (NASDAQ:VMRX) announced today the appointment of William Wong, Ph.D., 49, as vice president, business development of VIMRX, effective immediately. Dr. Wong will have primary responsibility for the strategic alliance and partnership activities associated with the cell therapy business recently formed between VIMRX and Baxter Healthcare Corporation. Dr. Wong joins VIMRX with extensive pharmaceutical and biotechnology industry experience gained through a progressive career with Becton-Dickinson, DuPont, Zynaxis Cell Science and most recently, Intracel Corporation.
"Dr. William Wong is an important addition to our team, bringing more than two decades of business and medical technology experience in the therapeutic and diagnostic markets," said Richard L. Dunning, president and chief executive officer of VIMRX. "The future success of our new cell therapy business will be driven by focused research and business alliances which will enable us to greatly expand our cancer cell selection therapeutic programs to address many other unmet medical diseases."
Dr. Wong most recently served as executive director of Intracel Corporation, where he was responsible for worldwide licensing, strategic alliances, and development and/or marketing partnerships. Dr. Wong was instrumental in developing the company's portfolio and increasing revenues through business development activities. Prior to that position, Dr. Wong held the position of senior vice president and general manager of the Diagnostics Division of Zynaxis Cell Sciences where he had overall responsibility for the Diagnostics business.
Previously, Dr. Wong spent seven years with the DuPont Company in technical, regulatory and management positions, but is most accomplished as a founding scientist of DuPont's Extracorporeal Therapy Systems - biocompatable on-line therapeutic systems designed to remove pathogenic substances from blood for the treatment of auto-immune disorders. Before joining DuPont, Dr. Wong lead the development efforts of Directigen Products at Becton-Dickinson.
William Wong earned his Ph.D. in microbiology and immunology from the University of Rochester, under the advisorship of Frank E. Young, M.D., Ph.D., and received a bachelor of arts degree in science from that same university.
VIMRX Pharmaceuticals Inc.
VIMRX Pharmaceuticals Inc. (NASDAQ: VMRX) is a biotechnology company that focuses on innovative technologies to improve human health. VIMRX's portfolio includes three subsidiaries: a new cell therapy company formed with Baxter Healthcare focused on cancer and other life threatening diseases; Innovir Laboratories, Inc. (NASDAQ: INVR), which develops oligozymes for use as both therapeutic agents and as pharmaceutical research tools; and VIMRX Genomics Inc., which commercializes Columbia University gene discoveries. VIMRX has three compounds in development: VIMRxyn(R), chemically synthesized hypericin, in clinical trials for brain cancer and skin diseases; VM201, a Factor IXa inhibitor for selective inhibition of blood clotting without the bleeding risk associated with anti-coagulation; and VM301, a Phase I novel wound healing agent.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The forward-looking statements contained in this release are subject to certain risks and uncertainties. Actual results could differ materially from current expectations. Among the factors which could affect the Company's actual results and could cause results to differ from those contained in the forward-looking statements contained herein are the success of the Company's clinical trials, delays in receiving FDA or other regulatory approvals and the development of competing therapies and/or technologies by other companies.
NOTE TO INVESTORS AND EDITORS: VIMRX's press releases are available on the Internet through www.vimrx.com and through BusinessWire's web site at businesswire.com. The releases also are available at no charge through BusinessWire's fax-on-demand service at 800-411-8792.
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CONTACT: Media Contact: Laura A. Mastrangelo
VIMRX Pharmaceuticals
302-998-1734
or
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The Investor Relations Group
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