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


To: Harold Engstrom who wrote (828)1/5/1999 4:01:00 PM
From: SDR-SI  Read Replies (1) | Respond to of 1686
 
To all:

News on a pipeline product:

> > >(COMTEX) B: CV THERAPEUTICS RECEIVES $4.5 MILLION MILESTONE PAYMENT F
B: CV THERAPEUTICS RECEIVES $4.5 MILLION MILESTONE PAYMENT FROM BIOGEN


PALO ALTO, Calif., Jan. 5 /PRNewswire/ -- CV Therapeutics, Inc.
(Nasdaq: CVTX) announced today the receipt of a $4.5 million milestone
payment, in the form of a loan, from its partner, Biogen, Inc. (Nasdaq:
BGEN). This milestone was released by Biogen in connection with the
final study report from an earlier Phase II study of Adentri(TM)
(CVT-124), which was jointly conducted by CVT and Biogen. Adentri(TM),
an adenosine A1 blocker, is being developed by Biogen for the potential
treatment of congestive heart failure under a license from CV
Therapeutics.

The loan is repayable in common stock or cash, or to the extent
available out of royalties owed by Biogen to CVT, at the Company's
option.

"This milestone payment recognizes the continued progress made on
Adentri(TM), and further strengthens our balance sheet. We ended 1998
with approximately $45 million in cash and marketable securities. The
added cash provides us with additional flexibility as we continue to
develop our two other clinical programs, ranolazine and CVT-510," said
Louis G. Lange, M.D., Ph.D., Chairman and Chief Executive Officer of CV
Therapeutics.

Biogen has exclusive worldwide rights to develop and sell Adentri(TM)
and is funding all development and commercialization costs. Under the
agreements, CV Therapeutics receives upfront payments, milestones and
royalties.

In addition to historical information, this press release contains
forward-looking statements that involve risks and uncertainties,
including, but not limited to, uncertainties related to the Company's
early stage of development and clinical trials and dependence on
collaborative and licensing arrangements. These factors are more fully
discussed in the Company's Annual Report on Form 10-K for the year
ended December 31, 1997.

CV Therapeutics, Inc., headquartered in Palo Alto, CA, is a
biopharmaceutical company focused on the application of molecular
cardiology to the discovery, development and commercialization of
novel, small molecule drugs for the treatment of cardiovascular
diseases. The Company currently has three drug candidates in clinical
trials. Ranolazine, for the potential treatment of angina, is in Phase
III clinical trials. Adentri(TM) (CVT-124), for the potential treatment
of congestive heart failure (CHF), is in Phase II clinical trials. A
third product, CVT-510, for the potential treatment of atrial
arrhythmias, is in Phase I clinical trials. For more information,
please visit CV Therapeutics' web site at www.cvt.com.
SOURCE CV Therapeutics, Inc.< < <

Steve



To: Harold Engstrom who wrote (828)1/6/1999 2:15:00 PM
From: Beltropolis Boy  Respond to of 1686
 
Biogen Promotes James C. Mullen to President and Chief Operating Officer

January 6, 1999 01:20 PM

CAMBRIDGE, Mass., Jan. 6 /PRNewswire/ -- Biogen, Inc. (BGEN) today announced that James C. Mullen has been promoted to the position of President and Chief Operating Officer, effective immediately. Mr. Mullen will report to James L. Vincent, Chairman and Chief Executive Officer, and will be responsible for all the operating functions of the Company, including Sales and Marketing, International, Operations, Medical Research, Regulatory Affairs, Product Development and Quality, and Program Executives, who lead the Company's development programs.

(Photo: newscom.com )

Mr. Mullen, 40, joined Biogen as Director, Facilities and Engineering, in 1989 and was named Vice President, Operations, in 1992. Since 1996, Mr. Mullen has served as Vice President, International, and has had responsibility for building all Biogen operations outside North America.

During his 10-year tenure at Biogen, Mr. Mullen has been credited with significant accomplishments by the Company. As Vice President, Operations, Mr. Mullen laid the manufacturing and distribution groundwork to launch AVONEX(R) (Interferon beta-1a), Biogen's flagship product for relapsing forms of multiple sclerosis, and he successfully oversaw the creation of Biogen's manufacturing capability in both Cambridge and Research Triangle Park. As Vice President, International, Mr. Mullen was the key Biogen executive responsible for the successful registration and launch of AVONEX(R) throughout Europe. AVONEX(R) is now available in more than 30 countries worldwide, and Biogen is the first biopharmaceutical company to launch one product on two continents concurrently. Mr. Mullen is credited with creating Biogen's direct sales organization in Europe, the largest in the biotechnology industry.

Jim Vincent, Biogen's Chairman and Chief Executive Officer, said, "Jim Mullen brings outstanding experience to this new senior management position. In his assignments as Vice President, Operations, and Vice President, International, Jim has consistently demonstrated the ability to lead large and diverse organizations and to manage through complex situations. He represents the leadership profile that has made Biogen what it is today."

From 1980 to 1989, Mr. Mullen held a variety of manufacturing and engineering positions at SmithKline-Beckman, including Director of Engineering. He holds a B.S. in Chemical Engineering from Rensselaer Polytechnic Institute and a M.B.A. from Villanova University.

Biogen, Inc., winner of the 1998 U.S. National Medal of Technology, is a biopharmaceutical company principally engaged in discovering and developing drugs for human healthcare through genetic engineering. Headquartered in Cambridge, MA, the Company's revenues are generated from U.S. and European sales of AVONEX(R) (Interferon beta-1a) for treatment of relapsing forms of multiple sclerosis, and from the worldwide sales by licensees of a number of products, including alpha interferon and hepatitis B vaccines and diagnostic products. Biogen's research and development activities are focused on novel products for multiple sclerosis, inflammatory, respiratory, kidney and cardiovascular diseases and in developmental biology and gene therapy. For copies of press releases and additional information about the Company, please consult Biogen's Homepage on the World Wide Web at biogen.com.