La Jolla Pharmaceutical Company (OTCBB: LJPC) (the "Company”) today
announced that Dr. Bertrand C. Liang has been appointed to the Company’s
Board of Directors. Dr. Liang is Chief Executive Officer of Pfenex Inc.,
a biotech company focused on the production of innovator proteins,
reagent proteins, and biosimilars, and Capital Member of Forward
Ventures/Medical Science Partners. He has worked in the development and
financing of biopharmaceuticals for the last 20 years, including at
Amgen, Biogen Idec, the National Institutes of Health, Paramount
Biosciences and Tracon Pharmaceuticals. Dr. Liang serves on the Board of
Directors of Tracon Pharmaceuticals and Pico Pharmaceuticals, Ltd.
Dr. Liang attended Northwestern Medical School and the University of
Bolton, with business school at the Regis School of Professional Studies
and the Sloan School of Management, emphasizing Strategy and Innovation.
Dr. Liang’s clinical training was completed at Brown University and the
University of Michigan, with post-doctoral studies at the National
Center for Human Genome Sciences and the National Cancer Institute.
"Dr. Liang’s breadth of medical expertise, extensive experience in
technology evaluation and small company building and his proven
development skills will all be of tremendous value to La Jolla as we
seek to establish a pipeline and rebuild the Company”, said Deirdre Y.
Gillespie, M.D., President and Chief Executive Officer of La Jolla
Pharmaceutical Company. "We are very excited indeed that he is joining
our Board of Directors”.
About La Jolla Pharmaceutical Company
La Jolla Pharmaceutical Company is a biopharmaceutical company dedicated
to improving and preserving human life by acquiring and developing
innovative pharmaceutical products. In May 2010, the Company completed a
private placement of its securities for up to $16.3 million in gross
proceeds, payable in two tranches and subject to the acquisition of a
suitable drug candidate or the approval of a development plan for
Riquent®. The Company expects to use a portion of the initial $6.0
million in proceeds to evaluate potential pharmaceutical products for
in-licensing or acquisition and/or to assess whether development
opportunities for Riquent exist, among other uses. The Company has
historically focused on the development and testing of Riquent as a
treatment for lupus nephritis. The Phase 3 clinical trial for Riquent,
called the "ASPEN” study, was terminated in February 2009, after the
Independent Data Monitoring Board for the ASPEN study informed the
Company that they had completed the first interim efficacy analysis and
determined that continuing the study was futile. Although continuing the
ASPEN study was determined to be futile with respect to the clinical
endpoints, Riquent did demonstrate a statistically significant, dose
dependent reduction in antibodies to double-stranded DNA when compared
to placebo and appeared to be well tolerated. No clinical development
activities are currently ongoing while the Company evaluates future
candidates for development.
Forward Looking Statement Safe Harbor
This document contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These statements relate to future events or our future results of
operations. These statements are only predictions and involve known and
unknown risks, uncertainties and other factors, which may cause actual
results to be materially different from these forward-looking
statements. The Company cautions readers not to place undue reliance on
any such forward-looking statements, which speak only as of the date
they were made. Certain of these risks, uncertainties, and other factors
are described in greater detail in the Company’s filings from time to
time with the SEC, all of which are available free of charge on the
SEC’s web site at http://www.sec.gov.
These risks include, but are not limited to, risks relating to the
ability to find suitable candidates for acquisition. Subsequent written
and oral forward-looking statements attributable to the Company or to
persons acting on its behalf are expressly qualified in their entirety
by the cautionary statements set forth in the Company’s reports filed
with the SEC. The Company expressly disclaims any intent to update any
forward-looking statements.
