Avid Radiopharmaceuticals Expands R&D Capabilities with Appointment of Dr. Mark A. Mintun as Chief Medical Officer

Avid Radiopharmaceuticals Expands R&D Capabilities with Appointment of Dr. Mark A. Mintun as Chief Medical Officer

Prominent Researcher and Neuro-imaging Physician will lead Clinical Research and Development

PHILADELPHIA--(BUSINESS WIRE)--Aug 10, 2010 - Avid Radiopharmaceuticals, Inc. announced today the appointment of Dr. Mark A. Mintun to the newly created position of Chief Medical Officer. Dr. Mintun brings extensive research, clinical and management experience to Avid, most recently serving as Vice Chair for Research and Director of the Center for Clinical Imaging Research at the prestigious Mallinckrodt Institute of Radiology at Washington University School of Medicine in St. Louis, MO. Dr. Mintun will report to Avid's President and CEO, Daniel M. Skovronsky, M.D., Ph.D.

"I am very excited that someone of Mark's reputation and stature is joining Avid. Mark will be a valuable addition to our leadership team," commented Dr. Skovronsky. "He will bring significant academic credentials as well as strong leadership to Avid."

Dr. Mintun's education includes a Bachelors' degree from MIT and a Medical Degree from Washington University in St. Louis. He is certified by the American Board of Nuclear Medicine. His research portfolio includes publishing the first report showing PET imaging of brain receptors, development of methods for imaging oxygen metabolism and pioneering techniques for mapping human brain function. His recent work has focused on the use of PET amyloid imaging to identify the earliest pathological changes of Alzheimer's disease.

"Avid has shown great leadership in the development of new molecular imaging agents, including florbetapir F 18, the first amyloid imaging agent for detection of a hallmark pathology of Alzheimer's disease to complete Phase III clinical development," said Dr. Mintun. "I am excited to be joining the Avid team where I will be involved with the clinical development of florbetapir as well as focusing on our pipeline which includes projects aimed at addressing unmet needs in Parkinson's disease, Dementia with Lewy bodies and in diabetes."

About florbetapir F 18

Avid Radiopharmaceuticals' lead product candidate was the first amyloid imaging compound to enter multi-center, IND-approved, clinical studies in the U.S., and has now been studied in more than 800 individuals, ranging from cognitively normal individuals to those with Alzheimer's disease. Florbetapir entered a pivotal registration study in 2009 using a unique "Image-to-Autopsy" trial design, based upon recommendations by the FDA neurology advisory committee in October 2008. The study concluded in early 2010 and the main findings were presented on July 11, 2010 at the Alzheimer's Association International Congress of Alzheimer's Disease (AAICAD) in Honolulu, HI.

About Avid Radiopharmaceuticals' Additional Product Candidates

Avid's second product candidate, 18F-AV-133 PET (AV-133), for imaging of the vesicular monoamine transporter 2 (VMAT2) in patients with suspected dopaminergic denervation, is currently in a Phase II clinical trial. In Phase I clinical trials, AV-133 demonstrated the ability to visualize decreases in the VMAT2 signal in the brain associated with Parkinson's disease (PD) and Dementia with Lewy bodies (DLB). In its clinical trials, AV-133 utilizes the high resolution PET imaging technique, can be imaged within one hour of injection and does not require administration of a blocking agent to prevent radioactive iodine uptake by the thyroid.

In preclinical studies, AV-133 has also shown to be a marker of beta cells of the pancreas. AV-133 is in a Phase I clinical study to test the ability to distinguish type 1 and type 2 diabetes subjects from healthy normal individuals based on a PET scan of the pancreas.

About Avid Radiopharmaceuticals Inc.

Based in Philadelphia, PA, Avid develops molecular imaging agents designed to detect, diagnose and monitor major chronic human diseases, such as Alzheimer's disease, Parkinson's disease and diabetes. More information about Avid is available at www.avidrp.com.

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Contact: Avid Radiopharmaceuticals Inc.
Christopher J. Bunting, 215-298-0700
VP, Marketing & Sales
[email protected]

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