Appointment brings significant clinical development expertise in oncology
Oslo, Norway, 14 September 2007 - Algeta ASA (OSE: ALGETA), the Norwegian cancer therapeutics company, today announces the appointment of Dr. Peter Harris to the position of Chief Medical Officer.
Dr. Harris will oversee the further clinical development of Algeta's innovative pipeline of oncology products. In particular, he will direct the clinical development program for Alpharadin, Algeta's lead product, which is scheduled to start Phase III clinical trials in 2008 in patients with skeletal metastases resulting from prostate cancer.
Dr. Harris is an accomplished and highly respected pharmaceutical physician with over 25 years of experience leading clinical development programs for global pharmaceutical companies. Most recently Dr. Harris was Chief Medical Officer at Oxigene Inc., a NASDAQ-listed company, where most importantly he oversaw the design and initiation of the pivotal registration study of its lead clinical product in thyroid cancer and led the team that secured the Special Protocol Assessment for this study from the US Food and Drug Administration. Prior to this, he spent five years as Development Director at KuDos Pharmaceuticals, now a wholly-owned subsidiary of AstraZeneca, where he directed preclinical and clinical development, advancing several oncology drug candidates from discovery to efficacy studies in the clinic. During his career, Dr. Harris has held senior medical positions at Amgen, Roche, Revlon Healthcare, Cobra Therapeutics and ICI Pharmaceuticals.
Dr. Harris replaces Dr. Johan Harmenberg, who has accepted the position as CEO of Axelar AB, a Karolinska Development (KD I) portfolio company in Stockholm, Sweden.
Dr. Thomas Ramdahl, CEO of Algeta, said: "I am delighted to welcome Dr. Harris to the team at Algeta. His extensive experience and expertise in the management of clinical trials in oncology will be an extremely valuable asset to us as we embark on the Phase III clinical development of Alpharadin next year. I would also like to thank Johan for his contribution to the company as CMO and wish him every success in his new role."
Dr. Harris commented: "I am very excited to join Algeta at such a pivotal and exciting moment in the company's development. Highly promising Phase II data clearly show Alpharadin has the potential to become an important new treatment for hormone refractory prostate cancer and I look forward to taking a leading role in the execution of the Phase III trials, which are scheduled to begin next year."