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Corgentech Appoints Nancy Donahue Vice President of Cardiovascular Marketing
(SOUTH SAN FRANCISCO, Calif., March 23, 2004) -- Corgentech Inc. (Nasdaq: CGTK), a biotechnology company, announced today that Nancy Donahue has been appointed vice president of cardiovascular marketing. Previously, Ms Donahue worked for 15 years in sales and marketing for GlaxoSmithKline, where she spent nearly half of her tenure marketing a product in the cardiovascular field, the target market for Corgentech's lead product.
At Corgentech, Ms. Donahue initially will direct the marketing effort for the company's novel and proprietary transcription factor decoy, known as E2F Decoy (edifoligide sodium), which currently is in two Phase 3 clinical trials for prevention of bypass graft failure following coronary artery bypass graft (CABG) and peripheral (i.e., in the leg) bypass graft surgery. Both trials have FDA Fast Track Status. Corgentech has an agreement with Bristol-Myers Squibb (BMS) to jointly develop and commercialize E2F Decoy, as well as co-promote the product in the U.S.
Specifically, Ms. Donahue will build and manage a marketing function comprised of brand marketing, product life-cycle management, marketing communications and product promotion. She will help lead the U.S. E2F brand team with BMS. Ms. Donahue also will lead a cross-functional team to develop a complete strategic marketing launch plan for the brand entry into the bypass graft market and coordinate advocacy development, advertising and promotional strategies, public relations and medical education activities.
"Nancy brings extensive marketing and sales experience, specifically in the cardiovascular field. Her strong background leading franchise and brand marketing efforts will be critical to Corgentech as we work to complete our pivotal Phase 3 program and move toward the launch of our first product, which is aimed at the cardiovascular market," said John P. McLaughlin, Corgentech's president and chief executive officer. "She also knows how to work effectively with a co-marketing partner, experience that will be instrumental as we move forward in the development and launch of E2F Decoy in partnership with Bristol-Myers Squibb."
Prior to joining Corgentech, Ms. Donahue had a 15-year career with GlaxoSmithKline, working in several product marketing positions, as well as strategic alliances and sales. Most recently, she served as executive director of Avandia franchise marketing, which at the time included one pre-launch and two marketed products within the diabetes area. She led the marketing team responsible for developing and implementing the strategic business plan, which resulted in a successful product introduction and franchise sales growth.
Previously, she served as product director and senior product manager for Coreg, a treatment for hypertension, recent heart attack and heart failure. Her work on the product included leading the brand team, developing and implementing a strategic business plan and chairing a joint marketing committee with co-marketer, Roche. Her efforts on Coreg helped achieve 56% and 42% sales growth during two recent years leading the product team.
Prior to that, Ms. Donahue served as associate product manager for Relafen, an antiarthritic, for which she attained record sales with a mature brand in a flat market. Also with GSK, she held positions in strategic alliances and new product development, as well as office and hospital products sales.
She holds a bachelor of science in marketing from Saint Joseph's University, located in Philadelphia, Penn.
About Corgentech Inc.
Corgentech is a biopharmaceutical company engaged in the discovery, development and commercialization of a new class of therapeutics called transcription factor decoys, or TF decoys. We are creating a pipeline of novel therapeutics based on our proprietary TF decoy technology, focused initially on the treatment of cardiovascular disease, inflammatory disease, such as arthritis, and cancer. For more information on the company and its technology, visit www.corgentech.com.
Forward-Looking Statements
This press release contains forward-looking statements, including without limitation all statements related to plans to execute on the marketing plan related to our lead product candidate. Words such as "believes," "anticipates," "plans," "expects," "intend," "will," "slated," "goal" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon our current expectations. Forward-looking statements involve risks and uncertainties. Our actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the progress, timing and results of our clinical trials, intellectual property matters, difficulties or delays in obtaining regulatory approval, manufacturing our lead product candidate, competition from other pharmaceutical or biotechnology companies, our ability to obtain additional financing to support its operations and other risks detailed in our filings with the Securities and Exchange Commission, including the Prospectus with respect to our initial public offering filed pursuant to Rule 424(b)(4) on February 12, 2004. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Corgentech undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.
| Contacts: | |
| Richard Powers Corgentech |
Kristin Nash WeissCom Partners |
| 650-624-9600 [email protected] |
415-302-7951 [email protected] |
