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September 21, 2007
Nile Therapeutics, Inc. Adds to Executive Management Team
BERKELEY, Calif., Sept. 21 -- Nile Therapeutics Inc., (Bulletin Board: SPDU) a biopharmaceutical company focusing on developing therapies for cardiovascular disease, is pleased to announce the appointments of Daron Evans as its Chief Financial Officer and Jennifer Hodge as the Vice President of Development.
Mr. Evans joined Nile in February 2007 as our Chief Operating Officer, and was appointed Chief Financial Officer in August 2007. In his new role, Mr. Evans will be responsible for overseeing our accounting and finance operations, as well as our compliance with Securities and Exchange Commission reporting obligations. At the same time, Mr. Evans will contribute his substantial operational, business development and entrepreneurial experience in executing our business strategy. Prior to joining Nile, from 2006 to 2007, Mr. Evans served as Director of Business Assessment at Vistakon, a Johnson & Johnson company. Prior to that, from 2004 to 2006, he was a Director of Portfolio & Business Analytics for Scios R&D, a Johnson & Johnson company. Mr. Evans was also a co-founder of a biotechnology diagnostic company, and has worked as a management consultant in the pharmaceutical industry with Booz Allen Hamilton. Mr. Evans received his Masters in Business Administration degree from The Fuqua School of Business at the Duke University, his Master of Science in Biomedical Engineering from Southwestern Medical School & University of Texas at Arlington and his Bachelor of Science in Chemical Engineering from Rice University.
Ms. Hodge joined Nile in August 2007 as the Vice President of Development. Prior to joining Nile, since 2000 Ms. Hodge worked at CV Therapeutics, Inc., ("CVT"), where she most recently served as the Director of Project Management. Prior to CVT, Ms. Hodge was a Global Clinical Team Leader at Quintiles and held Clinical Research Associate positions at Otsuka and Solvay. Ms. Hodge also held pharmacologist and development management responsibilities at the James Black Foundation in London. Ms. Hodge received her Bachelor of Science degree in Biology with Honors in Pharmacology from the University of Edinburgh, UK.
"An effective management team is a great predictor of success. I am delighted to be working with such exceptionally talented people. Both Daron and Jenny have years of relevant cardiovascular therapy development experience. As a management team, we are focused on creating value through the development of our lead compound CD-NP for the treatment of heart failure and our pre-clinical, anti-atherothrombotic agent, 2NTX-99," said Peter Strumph, CEO of Nile Therapeutics.
About Nile Therapeutics, Inc.
Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that is developing innovative products for the treatment of cardiovascular disease. Nile is initially focusing its efforts on developing its lead compound, CD-NP, a novel chimeric peptide in Phase I studies for the treatment of heart failure and 2NTX-99, a small molecule, pre-clinical, anti-atherothrombotic agent with nitric oxide (NO) donating properties.
CD-NP, a novel chimeric natriuretic peptide currently in Phase I clinical studies for the treatment of heart failure, is a selective NPRB agonist which, in vivo, has been shown to have potent renal enhancement and cardiac unloading properties but with minimal hypotensive effects compared with competitive products. CD-NP is a rationally-designed synthetic peptide designed to incorporate favorable properties of naturally occurring natriuretic peptides. Data from Nile's recently completed Phase Ia study in healthy volunteers confirmed several pre-clinical findings, including that CD-NP activated its target receptor in humans, preserved renal function and caused increases in natriuresis and diuresis at doses associated with a minimal effect on mean arterial pressure. Nile believes that CD-NP could provide a valuable new treatment option for heart failure patients.
2NTX-99 is a novel small molecule that has been shown in vivo and in vitro to inhibit the synthesis and action of thromboxane (TXA2), enhance the production of prostacyclin (PGI2) and supply a pharmacological amount of nitric oxide (NO) to the vasculature. Nile believes that the unique activity profile of 2NTX-99 has potential utility in a range of atherosclerotic, thrombotic and microvascular diseases.
More information on Nile can be found at www.nilethera.com.
Contact:
Daron Evans
Chief Financial Officer
Nile Therapeutics, Inc.
510-281-7700
info@nilethera.com
This news release contains forward-looking statements that involve risks and uncertainties that could cause our actual results and experiences to differ materially from anticipated results and expectations expressed in such forward-looking statement. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and other governmental regulation, our pharmaceutical collaborator's ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, and product pricing and third party reimbursement. We undertake no obligation to update any forward-looking statement contained in this press release, except as required by law.
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