ILEX Oncology Announces New Business Structure; Balancing Services and Products.SAN ANTONIO--(BUSINESS WIRE)--Sept. 24, 1997--ILEX(TM) Oncology Inc. (Nasdaq:ILXO) today announced the realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. of its business structure through the formation of two wholly-owned subsidiaries, ILEX Ilex a bush bearing berries containing saponins; cause vomiting, diarrhea. Called also holly. (TM) Oncology Services and ILEX(TM) Ventures, to facilitate the growth of the company's core businesses. During a presentation today at Smith Barney's Third Annual Conference on Emerging Sectors in Health Care, Richard Love, ILEX Oncology Inc. president and chief executive officer, will provide details on the operations of these business units. ILEX Oncology Services will provide drug development services to pharmaceutical and biotechnology customers on a contractual basis, while ILEX Ventures will focus on the continued research and development of ILEX's own portfolio of anticancer anticancer, n a medicine or substance used to treat cancer. compounds. Each subsidiary will operate under a separate and dedicated management team. ILEX Oncology Services will provide research services on a contract basis for ILEX Ventures' product portfolio. "This reorganization represents a significant step in our business strategy as it creates the infrastructure necessary to maximize the company's business objectives and pave PAVE Cardiology A clinical trial–Post AV Node Ablation Evaluation the way for continued growth," explained Love. "Our unique business model balances the risks inherent in drug development, while ensuring the timely and efficient development of anticancer therapeutics." ILEX Oncology Services, headed by Love, will focus on providing its clients high-quality, state-of-the-art drug development services, including strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , preclinical preclinical /pre·clin·i·cal/ (-klin´i-k'l) before a disease becomes clinically recognizable. pre·clin·i·cal adj. 1. and clinical development services, and on growing a profitable business unit with operations in the U.S. and Europe. Deirdre Tessman, Ph.D., vice president of Drug Development, has been appointed vice president of European Operations and will serve as the liaison with PFK-ILEX, a recently formed strategic alliance with a German-based contract research organization. ILEX Ventures, headed by Alex Weis, Ph.D., currently ILEX's chief scientific officer, will continue to focus on building value for the company's product portfolio by acquiring rights to new products, managing the development of ILEX's product portfolio and forming appropriate marketing agreements with pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. . ILEX Ventures expects to vigorously pursue the development of chemoprevention che·mo·pre·ven·tion n. The use of chemical agents, drugs, or food supplements to prevent disease. chemoprevention therapeutics, which can prevent the progression of cancer. ILEX(TM) Oncology Inc, is a drug development company focused exclusively on developing and obtaining marketing approval of drugs for the treatment and prevention of cancer. ILEX provides pharmaceutical and biotechnology companies with compounds for their pipeline as well as the full range of drug development and manufacturing services on a contract basis. ILEX's close association with cancer research and treatment institutions allows access to both the opinion leaders and patients necessary for the development of oncology drugs. -0- Certain statements contained in this press release, including statements regarding the anticipated development and expansion of the company's business, the intent, belief of current expectations of the company, its directors or its officers, primarily with respect to the future operating performance of the company and other statements contained herein regarding matters that are not historical facts, are "forward-looking" statements (as such term is defined in 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). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. include, but are not limited to, those risks and uncertainties discussed on filings made by the company with the Securities and Exchange Commission. -0- This release and other information about ILEX(TM) Oncology can be found on the World Wide Web at http://www.businesswire.com/cnn/ilxo.htm. CONTACT: ILEX Oncology James Koch, 210/949-8200 or ILEX Oncology Services Beth Shapiro Beth Shapiro is an evolutionary biologist in the department of zoology at Oxford University. Shapiro is notable for a number of publications in ecology in journals including Science, and has carried out mitochondrial DNA analysis of the dodo. , 210/949-8200 or Makovsky & Co. Diane Weiser, PR John Lovallo, IR 212/508-9600 |
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