Business Services Industry
Adolor Corporation Appoints Richard M. Mangano, Ph.D. as Vice President, Clinical Operations
Business Wire, August 30, 2006
EXTON, Pa. -- Adolor Corporation (NASDAQ: ADLR) announced today the appointment of Richard M. Mangano, Ph.D. as vice president, clinical operations, a newly created position. Dr. Mangano will be responsible for managing the clinical studies for the company's product candidates as well as integrating these functions with the established Biometrics and Medical Writing functions. Dr. Mangano brings over 20 years of experience in discovery and clinical research most recently at Wyeth, where he was responsible for over 15 global neuroscience drug development programs.
"Rich is an outstanding addition to the Adolor team," said James E. Barrett, Ph.D., senior vice president, chief scientific officer, president, research of Adolor Corporation. "He has a long track record in drug development, having led successful registration programs for therapeutic products in pain management as well as psychiatric and neurologic disorders. Under Rich's leadership, our newly integrated clinical operations area will be well positioned to optimize the development of our clinical pipeline. Rich also brings valuable licensing experience and will provide significant support to our cross-functional business development efforts. Rich joins Adolor at a key point in our growth and I look forward to the many critical contributions he will make to our future success. "
Dr. Mangano served most recently as assistant vice president, psychopharmacologic drug development at Wyeth Research, where over the past 12 years he has held positions of increasing responsibilities in clinical research and development. Dr. Mangano served as a representative of the Neuroscience Leadership Team which was responsible for establishing the business strategy for neuroscience drug development from early development through life cycle management programs. Prior to that, Dr. Mangano held positions with American Cyanamid Company and Hoffmann-LaRoche Inc.
"I am delighted to join the management team of Adolor," Dr. Mangano stated. "The opportunity to manage clinical operations as Adolor implements its strategy for growth and pursues its mission to develop novel therapies that treat pain and overcome the limitations of current opioid analgesics is an exciting one."
About Adolor Corporation
Adolor Corporation (NASDAQ: ADLR) is a biopharmaceutical company specializing in the discovery, development and commercialization of novel prescription pain management products. Entereg (alvimopan) is Adolor's lead product candidate under development for the management of the gastrointestinal side effects associated with opioid use. Adolor and GSK are collaborating in the worldwide development and commercialization of Entereg(R) in multiple indications. Adolor is developing a sterile lidocaine patch which is in Phase 2 clinical development for post-incisional pain. Adolor also has a number of discovery research programs focused on the identification of novel compounds for the treatment of pain. By applying its knowledge and expertise in pain management, along with ingenuity, Adolor Corporation is seeking to make a positive difference for patients, caregivers and the medical community. For more information, visit www.adolor.com.
This release, and oral statements made with respect to information contained in this release, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those which express plan, anticipation, intent, contingency, goals, targets or future development and/or otherwise are not statements of historical fact. These statements are based upon management's current expectations and are subject to risks and uncertainties, known and unknown, which could cause actual results and developments to differ materially from those expressed or implied in such statements. Such known risks and uncertainties relate to, among other factors: the risk that Adolor may not obtain FDA approval for the NDA for Entereg(R) in POI, whether due to the risk that: Adolor is not able to provide additional data satisfactory to the FDA to obtain approval for the NDA; Adolor is not able to justify that the median reduction in time to gastrointestinal (GI) recovery seen in bowel resection patients treated with Entereg(R) is clinically meaningful; the adequacy of the results of the Studies 14CL302, 14CL306, 14CL308, 14CL313 and 14CL314 to support FDA approval of Entereg(R), the results from other clinical trials of Entereg(R), including the Glaxo Phase 3 Study 001, the adequacy of the development program, the conduct of the clinical trials, changing regulatory requirements, different methods of evaluating and interpreting data, reliance on third-party manufacturers, adverse safety findings or otherwise; the risk that the FDA may not agree with Adolor's analyses of Studies 14CL302, 14CL306, 14CL308, 14CL313 and 14CL314 and may evaluate the results of these studies by different methods or conclude that the results from the studies are not statistically significant, clinically meaningful or do not support safety or that there were human errors in the conduct of the studies or otherwise; the risk that further studies of Entereg(R) in OBD are not positive; the risk that the results of Study 001 do not support a submission of a marketing approval application for alvimopan in Europe for POI; the risk of unfavorable results of trials in other indications; the risk that filing targets or user fee goal dates for regulatory submissions are not met; the costs, delays and uncertainties inherent in scientific research, drug development, clinical trials and the regulatory approval process; Adolor's history of operating losses since inception and its need for additional funds to operate its business; Adolor's reliance on its collaborators, including Glaxo, in connection with the development and commercialization of Entereg(R); market acceptance of Adolor's products, if regulatory approval is achieved; competition; and securities litigation.
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