Onyx Pharmaceuticals Appoints Ted W. Love, M.D., as Head of Research & Development
02 February 2010 - 3:15AM
PR Newswire (US)
Michael Kauffman, M.D., Ph.D., Named Chief Medical Officer
EMERYVILLE, Calif., Feb. 1 /PRNewswire-FirstCall/ -- Onyx
Pharmaceuticals, Inc. (NASDAQ:ONXX) today announced that it has
appointed Ted W. Love, M.D., Executive Vice President and Head of
Research and Development. In addition, Michael Kauffman, M.D.,
Ph.D., who has served as Interim Chief Medical Officer since
November 2009, has been appointed Chief Medical Officer reporting
to Dr. Love. In his new role, Dr. Love will report to the Chief
Executive Officer and will be responsible for managing the research
and development organization, including preclinical and clinical
programs, regulatory affairs, quality assurance and control, and
safety. Dr. Kauffman, in addition to partnering with Dr. Love
across the company's portfolio, will continue to play a lead role
in the clinical development of Onyx's pipeline of next-generation
proteasome inhibitors, including carfilzomib, which is currently in
a Phase 2b trial for relapsed, refractory multiple myeloma. "Ted is
a strategic thinker with broad leadership and management experience
and a track record of developing some of the most successful cancer
therapies, making him the ideal person to lead our research and
development program of innovative oncology candidates," said N.
Anthony Coles, M.D., President and Chief Executive Officer of Onyx.
"Together, Ted and Michael bring highly complementary experience
that spans solid tumor and hematologic cancers, and multiple drug
classes and molecular pathways. These appointments empower Onyx
with world class R&D leadership as we deliver on our vision to
transform the lives of cancer patients and their families with
innovative new medicines." "Onyx has an established track record of
success and a strong pipeline that could offer tremendous advances
for patients and oncologists," said Dr. Love. "In addition to
late-stage opportunities with Nexavar and carfilzomib, Onyx has
acquired rights to a number of exciting earlier stage compounds
that target some of the most innovative pathways in drug
development. I look forward to partnering with Michael and the rest
of the team to advance these novel molecules." Most recently, Dr.
Love was President, Chief Executive Officer, and Chairman of the
Board of Directors of the biotechnology company Nuvelo, Inc. He
grew Nuvelo into a late-stage development company focused on acute
cardiovascular disease, cancer, and other debilitating medical
conditions. Before joining Nuvelo in 2001, he served as Senior Vice
President of Development at Theravance, Inc. Previously, Dr. Love
spent six years at Genentech, Inc. in a number of senior management
positions in Medical Affairs and Product Development. As Vice
President of Product Development and Regulatory Affairs at
Genentech, Dr. Love oversaw all drugs in development including
Herceptin, Rituxan, and TNKase. He also served as chairman of
Genentech's Product Development Committee. Dr. Love earned his
bachelor's degree in molecular biology from Haverford College and
his medical degree at Yale Medical School. He completed his
residency and fellowship training in internal medicine and
cardiology at Massachusetts General Hospital and Harvard Medical
School. Following residency training, Dr. Love joined the faculty
of Massachusetts General in the department of cardiology. He
currently serves on the board of directors of Affymax, Inc.,
Santarus, Inc., ARCA biopharma, Inc., and on the California
Institute for Regenerative Medicine (CIRM) Independent Citizens'
Oversight Committee. Dr. Kauffman joined Onyx in November 2009 as
Interim Chief Medical Officer. Most recently, Dr. Kauffman was
Chief Medical Officer at Proteolix, Inc. where he was responsible
for the clinical advancement of carfilzomib as well as their other
pipeline candidates. Previously, Dr. Kauffman was President and
Chief Executive Officer of EPIX Pharmaceuticals, Inc. (previously
Predix Pharmaceuticals, Inc.) from 2002 to 2008. From 1997 to 2002,
he held a number of senior medical and program leadership positions
at Millennium Pharmaceuticals, Inc., where he played a key role in
the development of the proteasome inhibitor VELCADE®. Earlier in
his career, he served as Medical Director at Biogen Corporation
(now Biogen Idec). Dr. Kauffman earned his undergraduate degree in
biochemistry from Amherst College and his M.D. and Ph.D. in
molecular biology and biochemistry from Johns Hopkins. He trained
in Internal Medicine and Rheumatology at Beth Israel Deaconess
Hospital and the Massachusetts General Hospital. About Onyx
Pharmaceuticals, Inc. Onyx Pharmaceuticals, Inc. is a
biopharmaceutical company committed to improving the lives of
people with cancer. The company, in collaboration with Bayer
HealthCare Pharmaceuticals, Inc., is developing and marketing
Nexavar® (sorafenib) tablets, a small molecule drug that is
currently approved for the treatment of liver cancer and advanced
kidney cancer. Additionally, Nexavar is being investigated in
several ongoing trials in a variety of tumor types. Beyond Nexavar,
Onyx has established a development pipeline of anticancer compounds
at various stages of clinical testing, including carfilzomib, a
next-generation proteasome inhibitor, that is currently being
evaluated in multiple clinical trials for the treatment of patients
with relapsed or relapsed/refractory multiple myeloma and solid
tumors, and ONX 0801, a targeted alpha-folate inhibitor, currently
in Phase 1 testing. For more information about Onyx, visit the
company's website at http://www.onyx-pharm.com/. Nexavar®
(sorafenib) tablets is a registered trademark of Bayer HealthCare
Pharmaceuticals. Forward Looking Statements This news release
contains "forward-looking statements" of Onyx within the meaning of
the federal securities laws. These forward-looking statements
include without limitation, statements regarding the clinical
development of Nexavar, carfilzomib and Onyx's other product
candidates, and Drs. Love and Kauffman's anticipated contributions
to Onyx. These statements are subject to risks and uncertainties
that could cause actual results and events to differ materially
from those anticipated, including risks related to the development
and commercialization of pharmaceutical products. Any statements
contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements.
Reference should be made to Onyx's Annual Report on Form 10-K for
the year ended December 31, 2008, filed with the Securities and
Exchange Commission under the heading "Risk Factors" and Onyx's
Quarterly Reports on Form 10-Q for a more detailed description of
such factors. Readers are cautioned not to place undue reliance on
these forward-looking statements that speak only as of the date of
this release. Onyx undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events, or
circumstances after the date of this release except as required by
law. DATASOURCE: Onyx Pharmaceuticals, Inc. CONTACT: Investors,
Julie Wood, Vice President, Investor Relations, +1-510-597-6505, or
Media, Lori Murray, Director, Corporate Communications,
+1-510-597-6394, both of Onyx Pharmaceuticals, Inc. Web Site:
http://www.onyx-pharm.com/
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