SOURCE: Speedel Holding AG

September 17, 2007 01:19 ET


BASEL, SWITZERLAND and BRIDGEWATER, NJ--(Marketwire - September 17, 2007) - -New appointment adds significant drug discovery expertise-

Basel/Switzerland and Bridgewater NJ/USA, 17 September 2007

Speedel (SWX: SPPN) today announced a new appointment to its Management Team.

  * Dr Klaus Dembowsky as Head of Speedel Experimenta, Speedel's
    late-stage research unit. He is a  MD  and PhD in physiology and
    has extensive experience in managing research laboratories in
    both Big Pharma and Biotech in Germany and the USA with Bayer,
    Millenium, and Ingenium Pharmaceuticals. Dr Dembowsky will also
    serve on Speedel's Management Team.

Dr Alice Huxley, CEO, commented: "I am delighted to welcome Dr Dembowsky as Head of Speedel Experimenta and to our Management Team. He brings a wealth of drug discovery and management expertise which is invaluable as Speedel looks forward to its next phase of organisational growth. For Speedel it is imperative to conduct top science in order to secure its clinical pipeline and deliver innovative drugs to patients."

Dr Klaus Dembowsky, stated: "It is a great challenge to have this opportunity of working with the team at Speedel Experimenta and with the Management Team, as it builds on its foundations as one of Europe's premier biopharmaceutical companies."

Biography of new appointment

Dr Klaus Dembowsky was born in 1953 and is a German citizen. He studied medicine at the Universities of Mainz and Heidelberg, Germany and received his doctorate from the University of Heidelberg. From 1982-1992 he held a number of positions in the Department of Physiology, University of Heidelberg. In 1992 he was appointed Head of Laboratory at Bayer AG, Institute of Cardiovascular Research, Wuppertal, Germany. From 2001 to 2003 he was Project Manager for the alliance between Bayer AG and Millenium in Cambridge, USA which focused on research in cardiovascular, thrombosis and haematology. Since 2003 Klaus Dembowsky has been Vice President Drug Discovery at Ingenium Pharmaceuticals AG, Martinsried, Germany. He has published extensively and is the holder of over 200 patent applications for novel compounds and targets.

The other members of the Management Team of Speedel Holding Ltd remain unchanged and further details are available on

About Speedel

Speedel is a public biopharmaceutical company that seeks to create value for patients, partners and investors by developing innovative therapies for cardiovascular and metabolic diseases. Speedel is a world leader in renin inhibition, a promising new approach with significant potential for treating cardiovascular diseases. Our lead compound SPP100 (Tekturna/Rasilez[i] ), the first-in-class direct renin inhibitor, was in-licensed from Novartis in 1999 and licensed-back to Novartis Pharma in 2002 for further development and commercialisation; SPP100 was approved by the FDA in the US in March 2007, and by the EMEA in the EU in August 2007. Our pipeline covers three different modes of action, and in addition to SPP100, includes SPP301 in Phase III (on hold), SPP200 in Phase II, SPP635 in Phase Il, SPP1148 in Phase I and several pre-clinical projects.

Speedel develops novel product candidates through focused innovation and smart drug development from lead identification to the end of Phase II. We either partner with big pharma for Phase III and commercialisation in primary-care indications, or we may ourselves complete Phase III development in specialist indications. Candidate compounds for development and the company's intellectual property come from our late-stage research unit Speedel Experimenta and from in-licensing. Our team of approximately 70 employees, including over 30 experienced pharmaceutical scientists, is located at our headquarters and laboratories in Basel, Switzerland and at offices in New Jersey, USA and Tokyo, Japan.

In January 2007 the company raised gross proceeds of CHF 55.5 million (approximately EUR 34.3 million or USD 44.5 million) through a convertible bond issue. In March 2006 the company raised gross proceeds of CHF 83.95 million (approximately EUR 53m or USD 64m) through the public offering of 500,000 treasury shares. Previously, as a private company, we raised gross proceeds of CHF 255 million (approximately EUR 157 million or USD 204 million) from private placements of equity securities and two convertible loans including the conversion premiums. We have had total revenues, principally from milestone payments, of CHF 57.7 million (approximately EUR 37 million or USD 44 million). The company's shares were listed in September 2005 on the SWX Swiss Exchange under the symbol SPPN.

[i] Tekturna/Rasilez® are Novartis trademarks

Forward looking statements

This press release includes forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements are based on our current expectations and projections about future events. All statements, other than statements of historical facts, regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. The word "may" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations described in these forward-looking statements and you should not place undue reliance on them. There can be no assurance that actual results of our research and development activities and our results of operations will not differ materially from these expectations. Factors that could cause actual results to differ from expectations include, among others: our or our partners' ability to develop safe and efficacious products; our or our partners' ability to achieve positive results in clinical trials; our or our partners' ability to obtain marketing approval and market acceptance for our product candidates; our ability to enter into future collaboration and licensing agreements; the impact of competition and technological change; existing and future regulations affecting our business; changes in governmental oversight of pharmaceutical product development; the future scope of our patent coverage or that of third parties; the effects of any future litigation; general economic and business conditions, both internationally and within our industry, including exchange rate variations; and our future financing plans.

-- Ends --

For further information please contact

Nick Miles
Director Communications & Investor Relations
Hirschgässlein 11
CH - 4051 Basel

T +41 (0) 61 206 40 00
D +41 (0) 61 206 40 14
F +41 (0) 61 206 40 01
M +41 (0) 79 446 25 21

Frank LaSaracina
Managing Director
Speedel Pharmaceuticals Inc
1661 Route 22 West
P.O. Box 6532
Bridgewater, NJ 08807
United States of America

T +1 732 537 2290
F +1 732 537 2292
M +1 908 338 0501

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