Corautus Genetics Expands Management Team in Preparation for Phase IIb Clinical Trial.Business Editors/Health/Medical Writers ATLANTA--(BUSINESS WIRE)--Oct. 20, 2003 The Board of Directors of Corautus Genetics Inc. (AMEX AMEX See: American Stock Exchange :CAQ CAQ Center for Audit Quality (New York, New York) CAQ Certificat d'Acceptation du Quebec CAQ Computer-Aided Quality Assurance CAQ Certificate of Added Qualification CAQ Computer-Aided Quality Control CAQ Condition Adverse to Quality ), a biopharmaceutical company dedicated to the development of gene transfer therapy products for cardiovascular disease Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease , voted for several management appointments. These appointments prepare the company for its pending Phase IIb clinical trial to test the efficacy and safety of the company's VEGF-2 gene therapy in treating coronary artery disease coronary artery disease, condition that results when the coronary arteries are narrowed or occluded, most commonly by atherosclerotic deposits of fibrous and fatty tissue. . Corautus will be conducting the Phase IIb trial in collaboration with its partner, Boston Scientific The Boston Scientific Corporation (NYSE: BSX) (abbreviated BSC), is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, Corporation. Nina Vincent Sewell, who formerly managed her own clinical regulatory firm, CardioConsult, Inc., and served as a consultant to Corautus, has joined the company on a fulltime basis as Senior Vice President-Clinical Regulatory. Prior to CardioConsult, Ms. Sewell was at Emory University Emory University (ĕm`ərē), near Atlanta, Ga.; coeducational; United Methodist; chartered as Emory College 1836, opened 1837 at Oxford. It became Emory Univ. in 1915 and in 1919 moved to Atlanta. for fifteen years working in scientific and clinical research. Dr. Yawen Chiang has been named Senior Vice President-Chief Scientific Officer to add quality control and quality assurance to her former responsibilities for manufacturing, research and development. Dr. Chiang has been with the company for two years. Previously she was associated with Aventis/Gencell. Jack W. Callicutt was named Vice President-Finance and Administration. Mr. Callicutt was previously with Deloitte & Touche in Atlanta for fourteen years and was a senior manager there. Robert T. Atwood, currently Chief Financial Officer, has acquired the additional title of Executive Vice President, reflecting further responsibilities in the overall day to day management of the company. All of the above officers, with the exception of Dr. Chiang, will be based in new facilities at the Advanced Technology Development Center in Atlanta, GA, with Dr. Chiang directing a specialized scientific team in California. Richard Otto, Chief Executive Officer and President, stated, "We are very pleased to have assembled our entire management team to move Corautus forward to a new level. I feel this team is complementary in expertise and experience and will guide the company efficiently through the Phase IIb VEGF-2 cardiac clinical trial and beyond." About Corautus Genetics Corautus Genetics Inc. is a biopharmaceutical company dedicated to the development of gene transfer therapy products for the treatment of cardiovascular disease. Corautus was formed by the merger of Vascular Genetics Inc. with GenStar Therapeutics Corporation, which was completed in February 2003. Corautus is currently developing and testing a gene transfer product using the Vascular Endothelial Growth Factor Vascular endothelial growth factor (VEGF) is an important signaling protein involved in both vasculogenesis (the de novo formation of the embryonic circulatory system) and angiogenesis (the growth of blood vessels from pre-existing vasculature). 2 (VEGF-2) gene to promote therapeutic angiogenesis in ischemic Ischemic An inadequate supply of blood to a part of the body, caused by partial or total blockage of an artery. Mentioned in: Antiangiogenic Therapy, Subarachnoid Hemorrhage, Ventricular Fibrillation ischemic muscle. This press release may contain forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the 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. Such statements are subject to certain factors, risks and uncertainties that may cause actual results, events and performances to differ materially from those referred to in such statements. These risks include statements which address operating performance, events or developments that we expect or anticipate will occur in the future, such as projections about our future results of operations or our financial condition, benefits from the alliance with Boston Scientific, synergies from the merger between GenStar and Vascular Genetics, research, development and commercialization of our product candidates, anticipated trends in our business, approval of our product candidates and other risks that could cause actual results to differ materially. These risks are discussed in Corautus Genetics Inc.'s Securities and Exchange Commission filings, including, but not limited to, the risks discussed in Corautus' Annual Report on 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. (File No. 001-15833) filed March 28, 2003, which are incorporated by reference into this press release. |
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