Tengion Appoints Sunita B. Sheth, M.D., Chief Medical Officer
Industry Veteran Brings Successful Track Record in Clinical Development of Novel Therapeutics
EAST NORRITON, Pa., July 7 /PRNewswire-FirstCall/ -- Tengion Inc. (NASDAQ: TNGN) today announced that it has appointed Sunita B. Sheth, M.D., to the position of Chief Medical Officer, Vice President, Clinical and Regulatory Affairs. In this role, Dr. Sheth will be responsible for developing clinical development strategies, implementing clinical trials, and providing clinical translation insights to preclinical pipeline programs.
"We are extremely pleased to add Dr. Sheth to the Tengion team,"
stated Steven Nichtberger, M.D., President and Chief Executive
Officer of Tengion. "Her broad experience in multiple therapeutic
areas, deep knowledge of early and late stage clinical development,
and commitment to patient care will be invaluable to Tengion as we
continue to advance our platform and product candidates."
Dr. Sheth most recently served as Vice President, Specialty Care
Business Unit, for Pfizer as part of its acquisition of Wyeth.
Prior to that, she spent four years at Wyeth, most recently as Vice
President, Cardiovascular, Metabolic and Infectious Diseases.
Before joining Wyeth, she held positions of increasing
responsibility at AstraZeneca and GlaxoSmithKline since joining the
industry in 1997. Her pharmaceutical development leadership
experience covers multiple therapeutic areas and phases of
development including approval of several INDs for drugs as well as
the biologics FIX mab and OAP-189; the global regulatory submission
of ximelagatran for multiple indications; and approval of an sNDA
for Tygacil.
"This is an exciting time for Tengion and I am very much looking
forward to working closely with the management team to advance the
company's pipeline," stated Dr. Sheth. "Tengion's Organ
Regeneration Platform(TM) provides a unique opportunity to bring
novel therapies and clinical advances to patients in need."
Dr. Sheth earned her B.A. and M.D. degrees from Brown University
and completed fellowships in Hematology/Oncology at Brown and
Temple University. She maintains an adjunct professorship at Temple
University Medical School.
Tengion's lead program, the Neo-Urinary Conduit(TM), is currently
in a Phase 1 clinical trial in patients with bladder cancer.
Tengion expects to report key data for its lead discovery program,
the Neo-Kidney Augment(TM), later this year.
About Tengion
Tengion, a clinical-stage biotechnology company, has pioneered the
Organ Regeneration Platform that enables us to create proprietary
product candidates that are intended to harness the intrinsic
regenerative pathways of the body to produce a range of native-like
organs and tissues. Our product candidates seek to eliminate the
need to utilize other tissues of the body for a purpose to which
they are poorly suited, procure donor organs or administer
anti-rejection medications. Tengion commenced a Phase I clinical
trial in March 2010 for its lead product candidate, the Neo-Urinary
Conduit(TM), an autologous implant that is intended to catalyze
regeneration of native-like bladder issue for bladder cancer
patients requiring a urinary diversion following bladder removal.
Tengion has also applied its technology in two Phase II clinical
trials for Tengion's Neo-Bladder Augment(TM) for the treatment of
neurogenic bladder. Tengion has worldwide rights to its product
candidates.
Forward-Looking Statements
Certain statements set forth above may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including, but not limited to: (i) our plans to
develop and commercialize our product candidates, including our
Neo-Urinary Conduit; and (ii) our ongoing and planned preclinical
studies and clinical trials. Although the company believes that
such statements are based on reasonable assumptions within the
bounds of its knowledge of its business and operations, the
forward-looking statements are neither promises nor guarantees and
the company's business is subject to significant risk and
uncertainties, and there can be no assurance that its actual
results will not differ materially from its expectations. These
risks and uncertainties include, among others: (i) we may have
difficulty enrolling patients in our clinical trials, including our
Phase I clinical trial for our Neo-Urinary Conduit; (ii) patients
enrolled in our clinical trials may experience adverse events
related to our product candidates, which could delay our clinical
trials or cause us to terminate the development of a product
candidate; and (iii) we may be unable to progress our product
candidates that are undergoing preclinical testing into clinical
trials. For further information with respect to factors that could
cause the company's actual results to differ materially from
expectations, reference is made to the reports the company filed
with the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended. The forward-looking statements
made in this release are made only as of the date hereof and the
company disclaims any intention or responsibility for updating
predictions or expectations contained in this release.
Source: Tengion Inc.
CONTACT: Investor, Linda Hearne, VP, Finance,
linda.hearne@tengion.com,
or Media, Mark Stejbach, VP & Chief Commercial Officer,
+1-267-960-4884,
mark.stejbach@tengion.com, both of Tengion Inc.
Posted: July 2010
