ROCKVILLE, Md., April 7, 2008 EntreMed, Inc.(Nasdaq: ENMD), a clinical-stage pharmaceutical company developingtherapeutics for the treatment of cancer and inflammatory diseases, todayannounced the retirement of Ronald E. Cape, Ph.D. as Director, effective June5, 2008.
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Dr. Cape has been a Director of EntreMed since 2003, and has beeninstrumental in helping the Company chart its path forward in multi-mechanismoncology drugs. Dr. Cape was the co-founder, Chairman and CEO of CetusCorporation, a world leader and pioneer in genetic engineering, including thediscovery and development of the polymerase chain reaction (PCR), for whichCetus scientist Kary Mullis received the Nobel Prize. Cetus later merged withChiron Corporation. Dr. Cape was the founding chairman of Darwin MolecularCorporation, which was later sold to Chiroscience plc. He was also a foundingmember of the Biotechnology Industry Organization and served as its Presidentfor three years.
Dr. Cape is a fellow of the American Academy of Arts and Sciences, theAmerican Academy of Microbiology and the American Association for theAdvancement of Science. He is the recipient of many awards, including the 2007Biotechnology Heritage Award, and has held dozens of prestigious boardpositions in the public and private sectors. In recent years, Dr. Cape hasbeen an investor in the field of biotechnology and a board member of variouspublic and private companies. He has also served on the boards of PrincetonUniversity, Rockefeller University, the Whitehead Institute at MIT, and theBoard of Regents of the NIH National Library of Medicine.
In announcing his pending retirement, Dr. Cape commented, "I am pleased tohave served on the EntreMed Board during its rebuilding period. The Companyhas promising programs that are making good progress, but I would now like tospend more time with my family and friends. I wish everyone at EntreMedcontinued progress."
EntreMed Board Chairman, Michael M. Tarnow commented, "Dr. Cape has been adistinguished member of our Board since he joined in 2003. He has beeninvolved in the biotech industry virtually from the beginning, and he hasparticipated actively in its development since those early days. His valuablecontributions to the field of biotechnology and his contribution to EntreMedare hallmarks of his leadership and commitment to the industry. We are honoredto have had the opportunity to draw from Dr. Cape's vast knowledge and sageadvice. While his service will be missed, we wish him all the best in hisretirement."
EntreMed, Inc. is a clinical-stage pharmaceutical company developingtherapeutic candidates primarily for the treatment of cancer and inflammation.MKC-1 is currently in multiple Phase 2 clinical trials for cancer. MKC-1 is anoral cell-cycle regulator with activity against the mTOR pathway. ENMD-1198, anovel antimitotic agent, is in a Phase 1 study in advanced cancer patients andENMD-2076, a selective kinase inhibitor, is expected to begin a Phase 1 studyin 2Q08. The Company also has an approved IND application for Panzem(R) inrheumatoid arthritis. EntreMed's goal is to develop and commercialize newcompounds based on the Company's expertise in angiogenesis, cell-cycleregulation and inflammation -- processes vital to the treatment of cancer andother diseases, such as rheumatoid arthritis. Additional information aboutEntreMed is available on the Company's web site at www.entremed.com and invarious filings with the Securities and Exchange Commission.
Forward Looking Statements
This release contains forward-looking statements within the meaning of thePrivate Securities Litigation Reform Act with respect to the outlook forexpectations for future financial or business performance (including thetiming of royalty revenues and future R&D expenditu