Abraxis BioScience Names Merck Veteran Van der Ploeg to Lead R&D and Drug Development Efforts at Abraxis Health.New Enterprise to Pioneer Evidenced-Based Medicine and Personalized Healthcare LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Abraxis BioScience, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABII), a fully integrated, global biotechnology company, today announced that in connection with its strategic plan to spin-off Abraxis Health, it has named Lex See yacc. 1. (tool) Lex - A lexical analyser generator for Unix and its input language. There is a GNU version called flex and a version written in, and outputting, SML/NJ called ML-lex. H.T. Van der Ploeg, Ph.D., as Senior Vice President of Integrative Medicine integrative medicine combines conventional medicine with complementary and alternative therapies. integrative medicine The 'new medicine' A term for the incorporation of alternative therapies into mainstream medical practice. and Translational Science Translational science is scientific research that is motivated by the need for practical applications that help people. The term is used mostly in the health sciences and refers to things like the discovery of new drugs that directly help improve human health. . Abraxis Health will be dedicated to becoming a next-generation, evidence-based, personalized healthcare company. At Abraxis Health, Dr. Van der Ploeg will be responsible for building and integrating the company's evidenced-based medicine capabilities, drug-discovery efforts and external partnerships that will serve as the foundation through which it will deliver personalized healthcare to patients. "My goal is to build and enable a dynamic research and development organization within Abraxis Health. Essential to accomplishing this is the ability to develop and empower people, thus fostering innovation and a collaborative research mindset mind·set or mind-set n. 1. A fixed mental attitude or disposition that predetermines a person's responses to and interpretations of situations. 2. An inclination or a habit. ," said Dr. Van der Ploeg. "Dr. Van der Ploeg joins Abraxis Health with a stellar business and academic pedigree and a profound interest in advancing patient access, compliance and care through vibrant research in new technologies and drug delivery methodologies," said Patrick Soon-Shiong, M.D., Chairman and Chief Executive Officer of Abraxis BioScience. "His passion and experience is well aligned with that of our growing team and we look forward to his many contributions as we seek to establish a new paradigm New Paradigm In the investing world, a totally new way of doing things that has a huge effect on business. Notes: The word "paradigm" is defined as a pattern or model, and it has been used in science to refer to a theoretical framework. in medical care." Dr. Van der Ploeg has more than 25 years of experience in enzymology en·zy·mol·o·gy n. The branch of science that deals with the biochemical nature and activity of enzymes. enzymology the study of enzymes and enzymatic action. , biochemistry and genetics, the larger portion of which has been focused on drug discovery and development research with Merck Research Laboratories. From 2004 to 2008, as Vice President, Basic Research, and Site Head, he opened and established the new Merck Research Laboratory in Boston. Prior to that, Dr. Van der Ploeg held diverse functions at Merck Research Laboratories in obesity and metabolism, oncology, and neurodegenerative disease Neurodegenerative disease A disease in which the nervous system progressively and irreversibly deteriorates. Mentioned in: Amnesia research, among other areas. He joined Merck Research Laboratories in 1991. Dr. Van der Ploeg also holds an adjunct faculty position at Columbia University's College of Physicians and Surgeons College of Physicians and Surgeons: see Columbia Univ. in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the institution where he devoted much of his academic career since 1984. Prior to that he was Course Lecturer at University of Amsterdam, where he obtained his Ph.D. in 1984. Dr. Van der Ploeg earned his M.S. degree in biochemistry from the University of Amsterdam and his Ph.D. in biochemistry/enzymology/genetics from the University of Amsterdam/Netherlands Cancer Research Center. He has received numerous awards and grants for his research and has published over 200 research articles. He is also named on more than 50 patents and patent applications. About Abraxis Health - Pioneering Personalized Medicine Abraxis Health believes that the era of predictive, personalized evidence-based medicine evidence-based medicine Decision-making 'The use of scientific data to confirm that proposed diagnostic or therapeutic procedures are appropriate in light of their high probability of producing the best and most favorable outcome'. See Meta-analysis. has emerged. As such, the company intends to focus on generating biological systems and advancing personalized medicine through strategic alliances and internal development. Its strategic focus will be to identify compounds with specific activity linked to specific biological markers related to specific disease states. The company's R&D program will be led by a team of discovery scientists, medicinal chemists and formulation scientists who will devote their efforts to advancing molecules from the lab to the clinic. Additionally, the company is expected to establish a global healthcare infrastructure with seamless communication among its various components, including: a network of tissue resources; a national tissue repository; next-generation diagnostic and molecular interrogation interrogation In criminal law, process of formally and systematically questioning a suspect in order to elicit incriminating responses. The process is largely outside the governance of law, though in the U.S. techniques; validated and quantitative norms to differentiate normal from disease states; a network of clinical sites working in collaboration to identify cohorts of patients with similar abnormal molecular profiles; and iterative clinical testing program to evaluate drugs based on activity against the particular molecular profile; and, a bioinformatic infrastructure integrating all of these elements. About Abraxis BioScience Abraxis BioScience is a fully integrated global biotechnology company dedicated to the discovery, development and delivery of next-generation therapeutics and core technologies that offer patients safer and more effective treatments for cancer and other critical illnesses. The company's portfolio includes the world's first and only protein-bound chemotherapeutic compound (ABRAXANE), which is based on the company's proprietary tumor targeting technology known as the nab([R]) platform. The first FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approved product to use this nab([R]) platform, ABRAXANE, was launched in 2005 for the 2nd line treatment of metastatic Metastatic The term used to describe a secondary cancer, or one that has spread from one area of the body to another. Mentioned in: Coagulation Disorders metastatic pertaining to or of the nature of a metastasis. breast cancer following failure of combination chemotherapy for metastatic disease. Abraxis trades on the NASDAQ Global Market under the symbol ABII. For more information about the company and its products, please visit www.abraxisbio.com. FORWARD-LOOKING STATEMENTS The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release include statements regarding our expectations, beliefs, hopes, goals, intentions, initiatives or strategies, including statements regarding the spin-off of Abraxis Health. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those in the forward- looking statements. These factors include, but are not limited to, risks that the proposed spin-off disrupts current plans and operations and the potential difficulties in employee retention; the inability to recognize the benefits of the spin-off; and the difficulties or delays in developing, testing, obtaining regulatory approval of, and producing and marketing of their products. Additional relevant information concerning risks can be found in Abraxis BioScience's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2007 and other documents it has filed with the Securities and Exchange Commission. The information contained in this press release is as of the date of this release. Abraxis assumes no obligations to update any forward-looking statements contained in this press release as the result of new information or future events or developments. |
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