SOUTH SAN FRANCISCO, Calif., Dec. 16, 2009 (GLOBE NEWSWIRE) -- Hana Biosciences (OTCBB:HNAB), a biopharmaceutical company focused on strengthening the foundation of cancer care, today announced the appointment of Howard Furst, M.D., M.B.A., to the Company's Board of Directors. Dr. Furst has over 20 years of experience in the healthcare industry and is currently a partner at Deerfield Management.
"We are pleased to welcome Howard to our Board of Directors at a transformational time in the Company's history. Howard's industry expertise and leadership experience will be a valued source of counsel as we prepare to file our New Drug Application for Marqibo(R) in adult acute lymphoblastic leukemia in the middle of 2010," said Leon Rosenberg, M.D., Chairman of the Board of Directors at Hana Biosciences.
"I am honored to join Hana's team, which is committed to developing improved cancer therapeutics and compounds that reduce cancer therapy toxicity," stated Dr. Furst. "As the recent data from the pivotal Phase 2 rALLy trial demonstrates, Hana's lead product Marqibo has the potential to become the standard of care for relapsed acute lymphoblastic leukemia patients. I look forward to working with the Company's board and management team to bring a new treatment option to this patient population with extremely limited treatment options."
Dr. Furst joined Deerfield Management in 2007 to work on structured transactions in Deerfield's Private Design and Special Situations Funds. Prior to joining Deerfield, Dr. Furst served as Portfolio Manager at Magnetar Capital Partners, LLC, to build out the firm's healthcare team and develop its private and public investment approach. Before Magnetar, Dr. Furst was a principal at Maverick Capital, Ltd., where he founded the firm's healthcare venture capital efforts. Dr. Furst served as a physician for 7 years after obtaining his M.D., from the New York University School of Medicine. Dr. Furst received an M.B.A. from the Wharton School of the University of Pennsylvania and a B.A. with honors from the University of Pennsylvania.
Hana also announced that Arie Belldegrun, M.D., will depart from the Company's Board of Directors at the end of the year. Dr. Belldegrun, Chief of Urologic Oncology and Director of the Urologic Oncology Institute at the University of California Los Angeles School of Medicine, has served on Hana's Board of Directors since April 2004. "We are most grateful to Dr. Belldegrun for his outstanding service to the Company over the past 6 years," stated Dr. Rosenberg.
About Hana Biosciences, Inc.
Hana Biosciences, Inc. is a biopharmaceutical company dedicated to developing and commercializing new, differentiated cancer therapies designed to improve and enable current standards of care. The company's lead product candidate, Marqibo(R), potentially treats acute lymphoblastic leukemia and lymphomas. The Company has additional pipeline opportunities some of which, like Marqibo, improve delivery and enhance the therapeutic benefits of well characterized, proven chemotherapies and enable high potency dosing without increased toxicity. Additional information on Hana Biosciences can be found at www.hanabiosciences.com.
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Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These forward-looking statements include without limitation, statements regarding, the timing, progress and anticipated results of regulatory processes, including potential NDA filings and other regulatory submissions relating to Marqibo, and clinical development of Marqibo; and statements regarding the potential of Marqibo to replace existing therapies and the expected benefits Marqibo may have for patients with relapsed ALL compared to existing therapies. Such statements involve risks and uncertainties that could cause Hana's actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. Among other things, there can be no assurances that any of Hana's clinical and regulatory development efforts relating to Marqibo will be successful; that the data of the rALLy trial will be sufficient to support approval by the FDA of an NDA for Marqibo; that Hana will have completed all other activities necessary for the filing of an NDA or other submission with the FDA; and that the results of the rALLy trial and other clinical trials of Marqibo will support Hana's claims or beliefs concerning Marqibo's safety and effectiveness. Additional risks that may affect such forward-looking statements include Hana's need to raise additional capital to fund its product development programs, including Marqibo, to completion, Hana's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in the company's Registration Statement on Form S-1/A filed with the Securities and Exchange Commission on November 16, 2009. Hana assumes no obligation to update these statements, except as required by law.