SOURCE: Theravance, Inc.

December 19, 2007 16:05 ET

Theravance Announces Appointment of Dr. Mathai Mammen as Head of Research

SOUTH SAN FRANCISCO, CA--(Marketwire - December 19, 2007) - Theravance, Inc. (NASDAQ: THRX) announced today the appointment of Mathai Mammen, M.D., Ph.D., as Senior Vice President, Research, effective January 4, 2008. Dr. Mammen will report directly to Rick E Winningham, Chief Executive Officer. In this role, he will be responsible for the company's research strategy and drug discovery activities. He succeeds Dr. Patrick Humphrey, who is retiring but will remain an advisor to the company.

Dr. Mammen co-founded Theravance in 1996. He developed many of the concepts and strategies underlying Theravance's multivalent approach to drug design, and has been central to the evolution of these strategies over the life of the company. While in the Medicinal Chemistry Department, Dr. Mammen led a number of our programs, including two respiratory programs partnered with GlaxoSmithKline plc. Dr. Mammen currently serves as Vice President of Theravance's Molecular and Cellular Biology Department. He is responsible for all of the Biochemistry, Molecular Pharmacology and Microbiology in support of both research and development projects, including telavancin and TD-1792. Dr. Mammen also serves as Chairman of the company's Development and Research Upper-level Guidance Board, a high-level, cross-functional group responsible for the late discovery and early development portfolio strategy.

"For more than a decade, Dr. Mammen, as one of our founders, has made significant scientific contributions to Theravance," said P. Roy Vagelos, Chairman of the Board of Theravance. "I have great confidence in Mathai's ability to lead the research team and in his execution and management of our drug discovery programs. I also want to take this opportunity to thank Dr. Patrick Humphrey for his outstanding leadership and contributions to Theravance. Pat has built a strong drug discovery infrastructure and a best-in-class research team."

"I'm very pleased to have Mathai as our new Head of Research," said Rick E Winningham. "I look forward to his leadership and contributions to the company, as we work together to broaden and progress our product pipeline."

Dr. Mammen obtained his medical degree from Harvard Medical School and was a member of the Health Sciences and Technology Program at the Massachusetts Institute of Technology. He earned his Ph.D. in Physical Organic Chemistry from Harvard University's Department of Chemistry working with National Medal of Science winner, Professor George M. Whitesides. Dr. Mammen obtained his Bachelor's Degree in Chemistry from Dalhousie University in Halifax, Nova Scotia. Dr. Mammen has authored over 80 peer-reviewed publications and patents.

About Theravance

Theravance is a biopharmaceutical company with a pipeline of internally discovered product candidates. Theravance is focused on the discovery, development and commercialization of small molecule medicines across a number of therapeutic areas including respiratory disease, bacterial infections and gastrointestinal motility dysfunction. Of the six programs in development, four are in late stage -- its telavancin program focusing on treating serious Gram-positive bacterial infections with Astellas Pharma Inc., the Gastrointestinal Motility Dysfunction program, the Beyond Advair collaboration with GlaxoSmithKline plc, and TD-1792 for the treatment of serious Gram-positive bacterial infections. By leveraging its proprietary insight of multivalency toward drug discovery focused on validated targets, Theravance is pursuing a next generation strategy designed to discover superior medicines in areas of significant unmet medical need. For more information, please visit the company's web site at www.theravance.com.

THERAVANCE®, the Theravance logo, and MEDICINES THAT MAKE A DIFFERENCE® are registered trademarks of Theravance, Inc.

This press release contains certain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives and future events. Theravance intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. Examples of such statements include statements relating to the enabling capabilities of Theravance's approach to drug discovery and its proprietary insights and statements concerning expectations for product candidates through development and commercialization. These statements are based on the current estimates and assumptions of the management of Theravance as of the date of this press release and are subject to risks, uncertainties, changes in circumstances, assumptions and other factors that may cause the actual results of Theravance to be materially different from those reflected in its forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others, risks related to delays or difficulties in commencing or completing clinical and preclinical studies, delays or failure to achieve regulatory approvals, and risks of collaborating with third parties to develop and commercialize products. These and other risks are described in greater detail under the heading "Risk Factors" contained in Item 1A of Theravance's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on November 7, 2007 and the risks discussed in our other filings with the SEC. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Theravance assumes no obligation to update its forward-looking statements.

Contact Information

  • Contact Information:
    Theravance, Inc.
    Allison Parker
    Director, Investor Relations
    650-808-4100
    Email Contact