Spectrum Pharmaceuticals Appoints George Tidmarsh, M.D., Ph.D, as Senior Vice President, Chief Scientific Officer
Dr. Tidmarsh, an Oncologist With a 20-Year Proven Track Record in the Biotechnology Industry, Adds Significant Expertise in Radioimmunotherapy and Other Cancer Treatments
Press Release Source: Spectrum Pharmaceuticals, Inc. On Monday July 19, 2010, 7:00 am
IRVINE, Calif.--(BUSINESS WIRE)--Spectrum Pharmaceuticals, Inc. (NasdaqGM:SPPI - News), a biotechnology company with fully integrated commercial and drug development operations, with a primary focus in hematology and oncology, today announced the appointment of George Tidmarsh, M.D., Ph.D., to the position of Senior Vice President, Chief Scientific Officer and Head of Research and Development Operations. Dr. Tidmarsh will report directly to the Chief Executive Officer and will provide the strategic planning and leadership necessary for managing all of the company's scientific operations, including clinical research, medical and regulatory affairs, biostatistics and data management, and pharmaceutical operations.
"During the past several years, we have laid the groundwork for significant growth in 2010 and beyond and, I believe, we now stand on the cusp of great commercial and clinical success," said Rajesh C. Shrotriya, M.D., Chairman of the Board of Directors, Chief Executive Officer, and President of Spectrum Pharmaceuticals. "It is more important now than ever for us to strengthen our team with professionals who meet exceedingly higher performance standards and who can help us maximize the potential of our two marketed cancer drugs, as well as our development-stage portfolio comprised of many novel drugs. I have known George for more than eight years as a dedicated and passionate scientist who works diligently with the uncanny ability of remaining focused on the mission at hand while keeping the big picture in mind. During the short period that he has been at Spectrum he has already demonstrated his excitement, passion and qualities for thoroughness. I am confident that Dr. Tidmarsh, a successful biotechnology leader with more than 20 years of experience in our industry including FDA drug approvals, has the requisite qualities to enable us to accomplish the objective of helping improve the quality of life of cancer patients while increasing shareholder value for Spectrum stockholders."
"I am pleased to be working with Dr. Shrotriya and the team he has assembled at Spectrum Pharmaceuticals," said Dr. Tidmarsh. "Spectrum's two marketed cancer drugs, ZEVALIN® and FUSILEV®, are complemented by a promising diversified portfolio of novel drugs, two of which, apaziquone and belinostat, are in registrational trials poised for New Drug Applications within the next two years. I am looking forward to working diligently towards helping accomplish corporate goals and helping improve the quality of life of cancer patients."
Dr. Tidmarsh founded Horizon Pharma and Threshold Pharmaceuticals, taking Threshold public in 2005 and guiding Horizon to successful completion of its Phase 3 program. Dr. Tidmarsh has also held various positions at Coulter Pharmaceuticals, including its Chief Medical Officer. During that time, he played a key role in the landmark $142 million co-development deal with SmithKline for its radiopharmaceuticals product, Bexxar, for the treatment of non-Hodgkin's lymphoma. Prior to Coulter Pharmaceuticals, he held scientific and clinical positions at Sequus Pharmaceuticals, Gilead Sciences, and SyStemix. Dr. Tidmarsh led fundamental scientific discovery efforts at SyStemix and Gilead Sciences and played a key role in the FDA approval process of Doxil, including the successful presentation to the FDA Oncology Drug Advisory Committee. Prior to joining Spectrum, Dr. Tidmarsh founded Metronome Therapeutics, a privately held biopharmaceutical company focused on novel cancer drug development. Dr. Tidmarsh served as a consultant to Spectrum prior to his appointment.
Dr. Tidmarsh, received his B.S. in Microbiology from Stanford University, and his M.D. and Ph.D. from the Stanford University School of Medicine, where he also completed fellowships in Pediatric Oncology and Neonatal Intensive Care. In addition, he has been a clinical staff member at Stanford Children's Hospital and El Camino Hospital. He has authored over 20 peer-reviewed scientific papers published in leading journals.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals is a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology. The Company's strategy is comprised of acquiring, developing and commercializing a broad and diverse pipeline of late-stage clinical and commercial products. The Company markets two oncology drugs, FUSILEV and ZEVALIN and has two drugs, apaziquone and belinostat, in late stage development along with a diversified pipeline of novel drug candidates. The Company has assembled an integrated in-house scientific team, including clinical development, medical research, regulatory affairs, biostatistics and data management, formulation development, and has established a commercial infrastructure for the marketing of its drug products. The Company also leverages the expertise of its worldwide partners to assist in the execution of its strategy. For more information, please visit the Company's website at www.sppirx.com.
Forward-looking statement - This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements include but are not limited to statements that relate to Spectrum's ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, establishing a commercial organization for our approved drugs, continuing to build our team, leveraging the expertise of our employees and partners around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans, abilities, or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates, may not prove safe or effective, the possibility that our existing and new drug candidates may not receive approval from the FDA, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of revenues, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.
SPECTRUM PHARMACEUTICALS, INC.®, ZEVALIN®, and FUSILEV® are registered trademarks of Spectrum, REDEFINING CANCER CARETM and the Spectrum Pharmaceutical logos are trademarks owned by Spectrum Pharmaceuticals, Inc. All other trademarks and trade names are the property of their respective owners
© 2010 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
Contact:
Spectrum Pharmaceuticals, Inc.Paul Arndt, Senior Manager, Investor Relations949-788-6700 x216