Infinity Augments Executive Leadership Team, Appointing New Chief Medical Officer and New Vice President, Product Development and Medical Affairs
Steven H. Holtzman to Transition to Non-Executive Chair of the Board at End of 2010
CAMBRIDGE, Mass., Nov. 8, 2010 (GLOBE NEWSWIRE) -- Infinity Pharmaceuticals, Inc. (Nasdaq:INFI) today announced two key appointments to its executive leadership team. The company named Pedro Santabarbara, M.D., Ph.D. as chief medical officer and Elizabeth G. Trehu, M.D., as vice president, product development and medical affairs. Drs. Santabarbara and Trehu each bring to Infinity more than 20 years of experience in the pharmaceutical industry, including expertise in oncology and hematology, and have played key roles advancing multiple products through clinical development and obtaining regulatory approval.
"Pedro and Beth have distinguished track records in drug development, and we are excited to have them join our team. Pedro brings a wealth of experience developing and implementing clinical trial strategies that have led to the approval of five new oncology drugs," stated Julian Adams, Ph.D., president of research and development at Infinity. "In addition, Beth's expertise leading medical affairs and providing strategic support for product and portfolio decisions will be instrumental as we advance our pipeline through clinical development toward commercialization."
Today Infinity also announced that as of December 31, 2010, Steven H. Holtzman, the company's founder and current executive chair of the Board of Directors, will transition to non-executive chair of Infinity's Board. In accordance with the company's management succession plan, Mr. Holtzman had assumed the role of executive chair at the beginning of the year following the promotion of Adelene Q. Perkins to chief executive officer.
"As a founder of Infinity and executive chair over the past year, I have been committed to ensuring a smooth leadership transition to Infinity's new CEO, Adelene Perkins. That transition was successfully completed in 2010 and I look forward to my ongoing involvement as chair of the Board," said Steven H. Holtzman, currently executive chair at Infinity. "With the additions of Pedro Santabarbara and Beth Trehu to the executive leadership team, Infinity has all the pieces in place to deliver meaningful new medicines to patients."
"I am very pleased that Steve will continue his involvement with the company through his role as chair of the Board. As Infinity's founding CEO, he established a strong foundation for the company that positions us beautifully for the future. Steve's counsel and inspiration will continue to be invaluable to me on a personal and professional level, as well as to the company," stated Adelene Q. Perkins, president and chief executive officer at Infinity. "We have a strong pipeline of four clinical candidates and a fifth expected to enter the clinic next year, coupled with the financial strength to drive our pipeline toward commercialization. To that end, I'm delighted to welcome Pedro and Beth to our organization. Their appointments add unprecedented depth, breadth and experience to our executive leadership team."
Dr. Santabarbara joins Infinity following five years with PharmaMar, where he most recently led the development and approval of Yondelis® (trabectedin). Prior to PharmaMar, he served as vice president of clinical research oncology at OSI Pharmaceuticals, Inc. where he led the successful approval of Tarceva® (erlotinib). Before joining OSI, Dr. Santabarbara led development activities for Campath® (alemtuzumab) at ILEX Oncology, Inc. He was also employed at Rhone Poulenc Rorer where he led the North American clinical development of Taxotere® (docetaxel), which he drove to approval in breast cancer and designed the strategy for non-small cell lung cancer. He also contributed to the development of Taxol® (paclitaxel) while at Bristol-Myers Squibb. Dr. Santabarbara's experience also includes 14 years in research and clinical practice. He holds a M.D. and Ph.D. from University of Barcelona, School of Medicine.
Dr. Trehu joins Infinity following four years at Genzyme Corporation, where she began as vice president of oncology global medical affairs and most recently held the position of vice president and general manager, hematology with global responsibility for Clolar® (clofarabine), Campath® and Fludara® (fludarabine). From 2002 to 2006, she held positions of increasing responsibility in medical affairs functions at Millennium Pharmaceuticals, principally in support of Velcade® (bortezomib). Dr. Trehu's career prior to industry included laboratory and clinical research in immunotherapy of cancer as an assistant professor at Tufts University School of Medicine and several years in private practice as a hematologist-oncologist at the Jordan Hospital Club Cancer Center. She holds a M.D. from New York University School of Medicine and an A.B. from Princeton University.
About Infinity Pharmaceuticals, Inc.
Infinity is an innovative drug discovery and development company seeking to discover, develop, and deliver to patients best-in-class medicines for difficult-to-treat diseases. Infinity combines proven scientific expertise with a passion for developing novel small molecule drugs that target emerging disease pathways. Infinity's programs in the inhibition of the Hsp90 chaperone system, the Hedgehog pathway, fatty acid amide hydrolase and phosphoinositide-3-kinase are evidence of its innovative approach to drug discovery and development. For more information on Infinity, please refer to the company's website at http://www.infi.com.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements, including those related to the progression of Infinity's product candidates into late-stage development and commercialization and the commencement of clinical trials of its phosphoinositol-3 kinase inhibitor, involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such statements are subject to numerous factors, risks and uncertainties that may cause actual events or results to differ materially from the company's current expectations. For example, there can be no guarantee that any of Infinity's product candidates will successfully complete necessary preclinical and clinical development phases, or that the company's strategic alliance with Purdue Pharma and Mundipharma will continue as planned. In particular, management's expectations could be affected by risks and uncertainties relating to: results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S. Food and Drug Administration and other regulatory authorities and investigational review boards at clinical trial sites; Infinity's ability to enroll patients in its clinical trials; and Infinity's ability to obtain, maintain and enforce patent and other intellectual property protection for any product candidates it is developing. These and other risks which may impact management's expectations are described in greater detail under the caption "Risk Factors" included in Infinity's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on August 4, 2010. Further, any forward-looking statements contained in this press release speak only as of the date hereof, and Infinity expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Taxol® is a registered trademark of Bristol-Myers Squibb. Campath® and Clolar® are registered trademarks of Genzyme Corporation. Yondelis® is a registered trademark of Johnson & Johnson. Velcade®, Tarceva® and Fludara® are registered trademarks of Millennium Pharmaceuticals, Inc., OSI Pharmaceuticals, Inc. and Schering AG, respectively.
CONTACT: Infinity Pharmaceuticals, Inc.
Jaren Irene Madden