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Biotech / Medical : ArQule -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (373)	8/2/1999 3:10:00 PM
From: NJ Investors	Respond to of 399

- ArQule Appoints Dr. Philippe Bey, Formerly of Hoechst Marion Roussel (HMR), as New Chief Scientific Officer, Senior VP Research - PR Newswire - August 02, 1999 08:44 MEDFORD, Mass., Aug. 2 /PRNewswire/ -- ArQule, Inc. (Nasdaq: ARQL) announced today the appointment of Philippe Bey, Ph.D. to Chief Scientific Officer and Senior Vice President of Research and Development, effective August 16th of this year. Dr. Bey joins ArQule from Hoechst Marion Roussel (HMR), where he recently served as Senior Vice President, U.S. Research and Development. Dr. Bey will succeed Joseph C. Hogan, Jr., Ph.D., who has resigned effective July 30 to pursue other business interests. Dr. Hogan, a founder of ArQule, has served as Chief Scientific Officer and Senior Vice President of Research & Development since the company's inception. To ensure a smooth transition, Dr. Hogan will continue as chairman of the ArQule Board of Directors in a non-executive capacity until the fourth quarter of 1999. "Dr. Bey's joining ArQule's team is yet another step in our strategy of augmenting our management team with individuals from the pharmaceutical industry who have demonstrated leadership in drug discovery," commented Dr. Stephen A. Hill, President and CEO of ArQule. "Dr. Bey's record of accomplishments in pharmaceutical drug discovery, including the delivery of numerous drug candidates for clinical development while at HMR, and his experience in managing the strategic growth of an organization will facilitate ArQule's expansion during the coming years. Dr. Bey also has the scientific background to complement ArQule's chemistry capabilities, and the leadership skills to guide our scientific team toward success in chemistry-based drug discovery." Dr. Hill said of Dr. Hogan's departure, "Joe has been a great inspiration to the company from its earliest days. He had the courage to translate his ideas from theory into practice and thereby change the paradigm of chemistry related drug discovery. We wish Joe every success in his future business and personal ventures. I know that both he and I are delighted that we have attracted an executive of the caliber of Philippe Bey to build and expand on Joe's scientific achievements in the world of combinatorial chemistry." Dr. Hogan commented, "Since its inception, ArQule has successfully established a world leadership position in the development and application of high-throughput chemistry technologies for accelerating the discovery and development of molecules for life-sciences applications. I'm proud to have participated in the successes the Company has achieved to date, and I'm honored to have worked alongside so many outstanding individuals who have infused ArQule with its pioneering spirit and its relentless drive to innovate and excel. Now that ArQule has reached this stage of its development, I'm interested in pursuing new opportunities. I leave with the confidence that ArQule is in the right hands to execute our vision of transforming drug discovery by generating drug candidates through a high-output systematic process." Dr. Bey has held various senior management positions at HMR, Marion Merrell Dow, Inc. and Selectide, a combinatorial chemistry company fully owned by HMR. His many achievements include successful drug discovery programs across a range of therapeutic areas, and management of a number of strategic alliances. While at HMR, he coordinated U.S. R&D programs and participated in a task force which defined HMR's strategic plans. At Marion Merrell Dow, where he served as Vice President of Global Research, he designed research strategies to incorporate new technologies and internal organizational competencies while improving productivity. Dr. Bey also served as President of Selectide. Dr. Bey earned his B.S. and Ph.D. Chemistry qualifications at the Louis Pasteur University in Strasbourg, France, and conducted post- doctoral training at the California Institute of Technology in Pasadena.