Cytogen Adds to Senior Management Team
PRINCETON, N.J., May 9 /PRNewswire/ -- Cytogen Corporation (Nasdaq: CYTO) today announced that Terence S. Novak plans to join the Company as Vice President of Sales and Marketing, a newly created position. In addition, Catherine M. Verna, Esq., has joined the company as Vice President, General Counsel.
Mr. Novak comes to Cytogen from Boron LePore & Associates, a provider of marketing and sales services, where he was Senior Vice President and General Manager. Previously, he was Executive Vice President at Algos Pharmaceutical Corporation, where he was responsible for all commercial operations. He was also Vice President of Sales and Marketing for Innovex, Inc., a division of Quintiles Transnational Corporation and spent 15 years in various sales and marketing positions at Bristol-Myers Squibb. He holds a Bachelor of Science in Biology from Muhlenberg College.
Ms. Verna comes to Cytogen from ONQuality.com, where she was General Counsel and Chief Financial Officer. Previously, she was Legal Counsel at Amersham Pharmacia Biotech, Inc., Consulting Attorney to SmithKline Beecham Pharmaceuticals, and a Senior Associate at Buchanan Ingersoll, a law firm, where she did work in mergers and acquisitions, corporate finance, and securities law with an emphasis on biotechnology companies. She holds a bachelor of Business Administration, Summa cum laude, from Temple University and Juris Doctor from the University of California Hastings College of Law. She is a member of American Bar Association and the Pennsylvania and New Jersey Bar Associations.
"Terry Novak has extensive experience in the sales and marketing of specialized pharmaceuticals," said H. Joseph Reiser, Ph.D., Chief Executive Officer of Cytogen Corporation. "His appointment to our senior management team strengthens Cytogen's new direct sales and marketing efforts of our ProstaScint(R) and OncoScint(R) cancer imaging agents and enhances our ability to move into broader markets with our dedicated oncology sales force. Terry's initial goal will be to drive top line sales growth of our products.
"Catherine Verna fills Cytogen's need for a strong, diversified in-house legal presence," Dr. Reiser continued. "As our Company continues to grow, we envision that Catherine will play an important role in negotiating joint ventures and strategic alliances, facilitating licensing and technology transfers, and protecting and enhancing our intellectual property portfolio. We are pleased to be able to draw upon her broad securities law experience in the pharmaceutical area. Ms. Verna replaces Donald Crane, who is working on a securities-trading project in Eastern Europe sponsored by the U.S. Agency for World Development. We wish Don well, and thank him for his years of service to the Company."
Cytogen Corporation is an established biopharmaceutical company in Princeton, NJ, with two principal lines of business: proteomics and oncology. The Company is extending its expertise in antibodies and molecular recognition to the development of new products and a proteomics-driven drug discovery platform. The Company has established a pipeline of product candidates based on its proprietary antibody and prostate specific membrane antigen, or PSMA, technologies. The Company's cancer management franchise currently
comprises three marketed FDA-approved products: ProstaScint(R), used to image the extent and spread of prostate cancer; OncoScint CR/OV(R), a diagnostic imaging agent for colorectal and ovarian cancer; and Quadramet(R), for the relief of cancer-related bone pain. The Company's wholly owned subsidiary, AxCell Biosciences Corporation, is developing a proprietary protein pathway database as a drug discovery and development tool for the pharmaceutical and biotechnology industries. For additional information on
Cytogen, visit the newly revised web sites at www.cytogen.com and www.axcellbio.com.
Information in this press release which is not historical is forward looking and involves risks and uncertainties. Actual results may differ materially for various reasons including: the uncertainties associated with the ability of the Company to enter into new agreements related to its technology, to increase sales of its products, and other factors discussed in the Company's Form 10-K Annual Report for the year ended
December 31, 1999 and other filings with the Securities and Exchange Commission.
SOURCE: Cytogen Corporation
CONTACT: Richard W. Krawiec, Ph.D., Vice President, Investor Relations and Corporate Communications of
Cytogen, 609-750-8289 or publicrelations@cytogen.com |
