NicOx Announces Departure of Damian Marron for CEO Position
Michele Garufi, Chairman and CEO of NicOx, commented: "Since joining NicOxin 2002, Damian has made a great contribution to the growth and success of theCompany, during which time we have advanced our lead compound naproxcinod intoan extensive phase 3 clinical trial program and signed significantcollaborative agreements with both Pfizer and Merck, amongst others. Damianhas helped to establish a strong corporate development team, which will focuson the next phase of NicOx' development as a fully integratedbiopharmaceutical company. We wish Damian every success in this exciting newopportunity with his new company."
Damian Marron said: "It has been a privilege to work at NicOx. During mysix years, I have gained invaluable experience and have had the opportunity tobroaden my skills such that I have now been offered this great opportunity tolead a biotechnology company. NicOx has established itself as one of Europe'sleading biotechnology companies with a highly promising lead product andexcellent relationships in the pharmaceutical industry. With a first ratemanagement team in place to execute NicOx' strategy of becoming an integratedpharmaceutical company, I believe this is an excellent time to move on to thenew challenge of the role of CEO."
NicOx (Bloomberg: COX:FP, Reuters: NCOX.PA) a product-drivenbiopharmaceutical company dedicated to the development and futurecommercialization of investigational drugs for unmet medical needs. NicOx isapplying its proprietary nitric oxide-donating technology to develop aninternal portfolio of New Chemical Entities (NCEs) in the therapeutic areas ofinflammatory and cardio-metabolic disease.
Resources are focused on the development of naproxcinod, a proprietary NCEand the first compound in the Cyclooxygenase-Inhibiting Nitric Oxide-Donating(CINOD) class of anti-inflammatory agents, which is in phase 3 clinicalstudies for the treatment of the signs and symptoms of osteoarthritis, withfinal phase 3 results anticipated in 2008.
Beyond naproxcinod, NicOx has a pipeline containing multiple nitricoxide-donating NCEs, which are in development internally and with partners,including Pfizer Inc and Merck & Co., Inc., for the treatment of prevalent andunderserved diseases, such as atherosclerosis, hypertension, glaucoma andChronic Obstructive Pulmonary Disease (COPD).
NicOx S.A. is headquartered in France and is listed on the Euronext ParisStock Exchange (Compartment B: Mid Caps).
This press release contains certain forward-looking statements. Althoughthe Company believes its expectations are based on reasonable assumptions,these forward-looking statements are subject to numerous risks anduncertainties, which could cause actual results to differ materially fromthose anticipated in the forward-looking statements.
For a discussion of risks and uncertainties which could cause actualresults, financial condition, performance or achievements of NicOx S.A. todiffer from those contained in the forward-looking statements, please refer tothe Risk Factors ("Facteurs de Risque") section of the Document de Referencefiled with the AMF, which is available on the AMF website(http://www.amf-france.org) or on NicOx S.A.'s website (http://www.nicox.com).
SOURCE NicOx S.A.
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