Cardiome Appoints Dr. Richard Schwarz As Executive Director, CHF Program.Business Editors/Health & Medical Writers VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 10, 2001 Cardiome Pharma Corp. today announced that Richard P. ("Rick") Schwarz, Jr., PhD, has been appointed Executive Director, Congestive Heart Failure congestive heart failure, inability of the heart to expel sufficient blood to keep pace with the metabolic demands of the body. In the healthy individual the heart can tolerate large increases of workload for a considerable length of time. ("CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ") Program. In his new role, Dr. Schwarz will manage the pre-clinical and clinical development activities related to Paralex's programs in the CHF area. Cardiome recently announced an agreement to acquire Paralex, Inc., a company focused on commercializing oxypurinol for the treatment of CHF. Pre-clinical and human data suggest that the lead drug candidate, oxypurinol, may be effective in improving cardiac efficiency in CHF patients. Phase II clinical development of oxypurinol for CHF is expected to begin in the second half of 2002. Dr. Schwarz served previously as Executive Director, Cardiovascular Therapeutics, at Quintiles, Inc. He has 24 years of experience in the pharmaceutical/biotechnology industry and in government service. Dr. Schwarz held the position of Deputy Chief, Cardiology Program, at the National Heart, Lung and Blood Institute ("NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. ") from 1979-1982, and served as Global Director of the Cardiovascular Clinical Development Program at the Sterling Research Group, Sterling Drug, Inc. He has also served as Senior Director, Clinical Development at Astra USA and as Vice President, Clinical Development and Regulatory Affairs at Texas Biotechnology Corporation. Dr. Schwarz has planned and directed numerous clinical programs in cardiovascular development, including studies of inotropic agents and neurohormonal modulators in CHF, and studies of thrombin inhibitors, IIb/IIIa inhibitors, and thrombolytic agents in acute coronary syndromes. He led the research team that developed the injectable inotropic agent, PRIMACOR (milrinone), for the acute treatment of CHF. His bibliography lists over 50 publications and two books. "Rick is a results-oriented executive and a very welcome addition to our management team," said Dr. Alan Ezrin, Cardiome's Chief Scientific Officer. "He brings with him a wealth of clinical research, regulatory affairs and strategic planning expertise from the pharmaceutical and biotechnology industries as well as government services. I'm very pleased that we have been able to attract a professional of Rick's calibre." "I am excited to lead Cardiome's CHF team," said Dr. Schwarz. "Oxypurinol is a novel CHF treatment. It has potential to significantly expand the therapeutic options for this disease." The Company announced on December 21, 2001 that it has entered into an agreement to acquire Paralex, Inc., subject to satisfaction of certain closing conditions. Paralex is a privately-held, New York-based company possessing, among other assets, certain intellectual property rights licensed from The Johns Hopkins University Johns Hopkins University, mainly at Baltimore, Md. Johns Hopkins in 1867 had a group of his associates incorporated as the trustees of a university and a hospital, endowing each with $3.5 million. Daniel C. relating to cardiovascular applications of xanthine oxidase inhibitors. About Cardiome Pharma Corp Cardiome Pharma Corp. is a product-focused cardiac drug discovery and development company. The Company's mission is to prevent and treat heart disease. Upon closing of the Paralex transaction, the Company will have four drug programs in the cardiac area. The Paralex program is focused on congestive heart failure and is ready for Phase II development. RSD RSD Reflex sympathetic dystrophy, see there 1235, intended for the acute treatment of atrial fibrillation, is currently being tested by the Company in a Phase II clinical trial Noun 1. phase II clinical trial - a clinical trial on more persons than in phase I; intended to evaluate the efficacy of a treatment for the condition it is intended to treat; possible side effects are monitored phase II . RSD1122, intended for chronic treatment of atrial and ventricular arrhythmia, is in pre-clinical development with AstraZeneca, one of the world's largest pharmaceutical companies. The Company's Kv1.5 antiarrhythmic antiarrhythmic /an·ti·ar·rhyth·mic/ (-ah-rith´mik) 1. preventing or alleviating cardiac arrhythmias. 2. an agent that so acts. an·ti·ar·rhyth·mic adj. program, focused on the chronic treatment of atrial fibrillation, is also in the pre-clinical phase at Cardiome. The Company's facilities are on the grounds of the University of British Columbia Locations Vancouver The Vancouver campus is located at Point Grey, a twenty-minute drive from downtown Vancouver. It is near several beaches and has views of the North Shore mountains. The 7. in Vancouver. Cardiome is traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (COM) and the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTCBB OTCBB See OTC Bulletin Board (OTCBB). market (COMTF COMTF California Oak Mortality Task Force .OB). Forward-Looking Statement Disclaimer Statements contained in this news release relating to future results, events and expectations are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Company's annual report on Form 20-F on file with the U.S. Securities and Exchange Commission. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. ON BEHALF OF THE BOARD Robert Rieder President & Chief Executive Officer |
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