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Spectrum Pharmaceuticals Elects Two New Healthcare Industry Veterans to the Board of Directors

Monday, July 1, 2013 7:00 AM


Spectrum Pharmaceuticals Elects Two New Healthcare Industry Veterans to the Board of Directors

Spectrum Pharmaceuticals (NasdaqGS:SPPI), a biotechnology company with fully-integrated commercial and drug development operations with a primary focus in hematology and oncology, today announced the appointment of Dolatrai Vyas, Ph.D. and Raymond Cohen to its board of directors at the Annual Meeting of Stockholders held on June 28, 2013.

“I am pleased and honored to welcome two industry leaders to the Board of Directors,” said Rajesh C. Shrotriya, MD, Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals. “Dr. Vyas’ proven expertise in drug discovery and development and Mr. Cohen’s proven leadership in the healthcare industry will be instrumental as we continue to grow.”

Dr. Vyas spent more than 30 years in oncology drug discovery and research at Bristol-Myers Squibb Company (NYSE: BMY), a leading pharmaceutical company, most recently as a Group Director and Distinguished Research Fellow. During his tenure at BMY in oncology drug discovery, he participated in the discovery and development of 12 small molecules and one antibody drug conjugate as clinical development candidates with one US Food and Drug Administration approved NDA.

Mr. Cohen brings to the Board of Directors over 28 years of experience as an executive in the healthcare industry, including serving as Executive Chairman or Chief Executive Officer at several prominent companies. Until November 2012, Mr. Cohen served as Chief Executive Officer at privately-held Laguna Hills, CA-based Vessix Vascular Inc., a developer of a novel percutaneous RF balloon catheter renal denervation system used to treat uncontrolled hypertension. Vessix was acquired by Boston Scientific Corporation (NYSE: BSX) in November 2012 in a structured transaction valued at up to $425 million. Mr. Cohen is currently the Executive Chairman of JenaValve Technology, Inc., a venture backed company in the transcatheter aortic valve business, and among other board appointments chairs the Audit committee on the board of BioLife Solutions Inc. (OTC: BLFS), a manufacturer and marketer of preservation media for human cells and tissue.

The Company and the Board of Directors expresses its appreciation to former Directors, Krishan Arora and Anton Gueth for their efforts during their terms of service as members.

About Spectrum Pharmaceuticals, Inc.

Spectrum Pharmaceuticals is a leading biotechnology company focused on acquiring, developing, and commercializing drug products, with a primary focus in oncology and hematology. Spectrum and its affiliates market three oncology drugs ─ FUSILEV® (levoleucovorin) for Injection in the U.S.; FOLOTYN® (pralatrexate injection), also marketed in the U.S.; and ZEVALIN® (ibritumomab tiuxetan) Injection for intravenous use, for which the Company has worldwide marketing rights. Spectrum's strong track record in in-licensing and acquiring differentiated drugs, and expertise in clinical development have generated a robust, diversified, and growing pipeline of product candidates in advanced-stage Phase 2 and Phase 3 studies. More information on Spectrum is available at www.sppirx.com.

Forward-looking statement — This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements are based on management's current beliefs and expectations. These statements include, but are not limited to, statements that relate to our business and its future, including certain company milestones, Spectrum's ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, leveraging the expertise of partners and employees around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates may not prove safe or effective, the possibility that our existing and new applications to the FDA and other regulatory agencies may not receive approval in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of sustained revenue history, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.

SPECTRUM PHARMACEUTICALS, INC.®, FUSILEV®, FOLOTYN®, and ZEVALIN® are registered trademarks of Spectrum Pharmaceuticals, Inc and its affiliates. REDEFINING CANCER CARE™ and the Spectrum Pharmaceuticals logos are trademarks owned by Spectrum Pharmaceuticals, Inc.

© 2013 Spectrum Pharmaceuticals, Inc. All Rights Reserved.

(Source: Business Wire )
(Source: Quotemedia)

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