GPC Biotech Significantly Expands Pre-clinical and Clinical Development Capabilities
Continued Forward Integration Toward Product Development
Martinsried (Germany), March 13, 2001 -- GPC Biotech AG (Frankfurt Stock Exchange: GPC) today announced a significant expansion of its drug development and clinical development capabilities through the appointment of a Senior Director of Drug Development and the establishment of a Pre-clinical and Clinical Development Advisory Panel. This expansion demonstrates GPC Biotech's clear commitment to continue its forward integration as an integral part of the Company's dual business strategy which combines its broad technology platform for solid revenue generation from pharmaceutical alliances with internal product development providing aggressive future upside potential. GPC Biotech is currently working on nine internal product programs, the first of which the Company expects to enter into clinical trials in 2002.
As part of establishing GPC Biotech's clinical development activities, the Company has appointed Dr. Benno Rattel as Senior Director of Drug Development. Dr. Rattel, who will be based in Munich, will primarily focus on pre-clinical testing strategies to support the entry of GPC Biotech's potential new therapeutic products into clinical studies. Prior to joining GPC Biotech, Dr. Rattel held senior positions at the pharmaceutical company Klinge Pharma GmbH, Fujisawa Group, where he was most recently Director of Pre-clinical Research.
In addition, GPC Biotech will extensively draw on the drug development and clinical experience of experts in their respective fields. Jerome Birnbaum, Ph.D., and Stephen Carter, M.D. and Prasad Sunkara, Ph.D. will serve GPC Biotech as consultants on the Company's Pre-clinical and Clinical Development Advisory Panel.
Dr. Birnbaum established himself as an expert in the area of drug discovery and development through, among others, his former positions at Bristol-Myers Squibb Co. such as Senior Vice President for Strategic R&D Operations, Senior Vice President for Pharmaceutical Development of the Pharmaceutical Research Institute, and Executive Vice President of Research of the Pharmaceutical R&D Division. Dr. Birnbaum will advise GPC Biotech in the area of drug discovery and development.
Dr. Stephen Carter will advise GPC Biotech as the Company builds up its internal clinical expertise, particularly in the area of oncology. Dr. Carter gained extensive experience in clinical development through a number of senior positions at various companies such as Bristol-Myers Squibb Co., Boehringer Ingelheim Pharmaceuticals, Inc. and Sugen, Inc. While at Bristol-Myers Squibb Co. as Senior Vice President of Worldwide Clinical Research and Development, Dr. Carter was instrumental in the successful development of leading cancer treatments including Taxol and Carboplatin.
Dr. Sunkara will devote a very significant part of his time with GPC Biotech to support the Company's drug development program. He brings over 20 years of experience in drug discovery and development with an expertise in successful product development, including filing INDs and managing clinical trials. As former Executive Vice President of Research and Development of Cytovia, Inc. and former Vice President of Drug Development at Cytokine Networks, Inc. and Director of Product Development at Neurocrine Biosciences, Inc. he was responsible for pre-clinical and clinical development, overseeing clinical studies in the US and Europe. Dr. Sunkara will actively help guide GPC Biotech's pre-clinical drug development strategies.
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