SOURCE: Speedel Holding AG

April 21, 2008 01:07 ET


BASEL, SWITZERLAND--(Marketwire - April 21, 2008) -

Basel/Switzerland and Bridgewater NJ/USA, 21 April 2008

Speedel (SWX: SPPN) announces the appointment of the new Head of Corporate Communications and Investor Relations, Dr. Harald F. Schäfer, who joins the company today 21 April 2008. He succeeds Konrad P. Wirz, who held this position ad interim for a few months.

Harald Schäfer, who is a graduated pharmacist Ph.D. and a certified investor relations officer, CIRO, has broad experience in investor relations and in product development in the pharmaceutical industry. After several academic activities in research, and as editor for medical and scientific publishing houses, his professional career has also encompassed responsibility as medical manager in the area of cardiology and finally as investor relations manager of the former Altana AG, Germany.

Dr. Alice Huxley, CEO commented: "We are delighted to have engaged an experienced professional who combines both in-depth knowledge in the pharmaceutical industry in general and the cardiovascular field in particular as well as in investor relations. Harald Schäfer will complement the Speedel management team in this very important function."

Dr. Harald Schäfer added: "Speedel is one of Europe's top tier biopharmaceutical companies, a leader in innovation driven by entrepreneurial spirit. It is an exciting opportunity to join such a dynamic and successful team that is committed to achieving ambitious targets."

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[1]), 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 II, SPP200 in Phase II, SPP635 in Phase Il, SPP1148 and SPP676 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 80 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 33.5 million or USD 49 million) through a convertible bond issue. In March 2006 the company raised gross proceeds of CHF 83.95 million (approximately EUR 50.7m or USD 74.2m) through the public offering of 500,000 treasury shares. Previously, as a private company, we raised gross proceeds of CHF 256.5 million (approximately EUR 155 million or USD 226.6 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 60.8 million (approximately EUR 36.7 million or USD 53.7 million)[2]. The company's shares were listed in September 2005 on the SWX Swiss Exchange under the symbol SPPN.

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.


[1] Tekturna/Rasilez® are Novartis trademarks

[2] Foreign currency exchange rate as at year end 2007.

For further information please contact

Konrad P. Wirz
CFO. Communications & Investor Relations ad interim
Hirschgässlein 11
CH - 4051 Basel

T +41 (0) 61 206 40 00
D +41 (0) 61 206 40 40
F +41 (0) 61 206 40 01
M +41 (0) 79 760 25 44

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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