GLFD Guilford Pharmaceuticals (MM)

Dean J. Mitchell Appointed President and Chief Executive Officer of Guilford Pharmaceuticals BALTIMORE, Nov. 17 /PRNewswire-FirstCall/ -- Guilford Pharmaceuticals Inc. (NASDAQ:GLFD) today announced the appointment of Dean J. Mitchell as President and Chief Executive Officer, effective December 1, 2004. He will succeed Dr. Craig R. Smith, who is retiring. Mr. Mitchell brings with him a distinguished 25-year career in the pharmaceutical industry, most recently with Bristol-Myers Squibb and formerly with GlaxoSmithKline (GSK). "Over the next 12 to 18 months Guilford is poised to achieve a number of important milestones including the completion of several critical clinical trials for our AQUAVAN(R), AGGRASTAT(R) and GPI 1485 products. Mr. Mitchell's extensive experience in commercial operations and clinical development in the pharmaceutical industry will provide the leadership and direction necessary to enable the Company to effectively meet the challenges it faces during this dynamic period," commented George L. Bunting, Jr., Guilford's lead independent Director. Mr. Bunting will assume the role of Chairman of Guilford's Board of Directors when Mr. Mitchell begins with the Company. "As George stated this is a very exciting time for the Company, with results from up to thirteen Phase III and Phase II clinical studies expected over the next 12 to 18 months, including results from our Phase III trials of AQUAVAN(R), which are expected to be announced in the first half of next year. I am very enthusiastic about the opportunity to take Guilford to the next level, and look forward to working with the Guilford management team to realize the full potential of Guilford's exceptional product portfolio," remarked Mr. Mitchell. Mr. Mitchell most recently worked for the Bristol-Myers Squibb Company in a series of executive management roles, including President, International Pharmaceuticals, President, U.S. Primary Care, and most recently as Vice President, Strategy. In these roles he held responsibility for some of the largest commercial operations within Bristol-Myers Squibb. Prior to joining Bristol-Myers Squibb, Mr. Mitchell served with GSK and its predecessor businesses from 1987 until 2001. During his 15 years with GSK, Mr. Mitchell held a number of senior management positions, including most recently, Senior Vice President, Clinical Development and Product Strategy. His broad international experience with GSK encompassed roles in the U.S., U.K. and Canadian markets. In these positions he established a proven track record in the development of clinical and commercial strategies, and the effective launch and growth of many pharmaceutical products. Mr. Mitchell received an MBA degree from City University Business School in London and a BSc degree with Honors in Applied Biology from Coventry University. "I believe Dean Mitchell is a superb choice to lead Guilford," said Dr. Smith. "His experience in pharmaceutical operations, strategic planning, and clinical development are an excellent fit with the Company's future needs. I look forward to a smooth transition and working as a member of the Board to fulfill the promise we at Guilford have worked so hard to create." About Guilford Guilford Pharmaceuticals Inc. is a pharmaceutical company engaged in the research, development and commercialization of proprietary drugs that target the hospital and neurology markets. Presently, Guilford markets two commercial products, GLIADEL(R) Wafer (polifeprosan 20 with carmustine implant), for the treatment of brain cancer, and AGGRASTAT(R) Injection (tirofiban hydrochloride), a glycoprotein GP IIb/IIIa receptor antagonist for the treatment of acute coronary syndrome (ACS). Guilford's product pipeline includes a novel anesthetic, AQUAVAN(R) Injection, and drugs for treating Parkinson's disease and peripheral nerve injury. For additional prescribing information about GLIADEL(R) and AGGRASTAT(R) please see http://www.guilfordpharm.com/, under Products / Marketed Products. Contact: Guilford Pharmaceuticals Inc. / Stacey Jurchison - 410.631.5022 This press release contains forward-looking statements that involve risks and uncertainties, including those described in the section entitled "Risk Factors" contained in the Company's Quarterly Report on Form 10-Q filed with the SEC on November 8, 2004, that could cause the Company's actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Among other things, there can be no assurance that Guilford will be successful in its clinical development efforts with AGGRASTAT(R), AQUAVAN(R), or GPI 1485. DATASOURCE: Guilford Pharmaceuticals Inc. CONTACT: Stacey Jurchison, Guilford Pharmaceuticals Inc., +1-410-631-5022 Web site: http://www.guilfordpharm.com/ Company News On-Call: http://www.prnewswire.com/comp/112882.html

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