Resignation of Jim Spudich and Election of Sandy Smith
SOUTH SAN FRANCISCO, CA, Mar 07, 2012 (MARKETWIRE via COMTEX) --Cytokinetics, Incorporated (NASDAQ: CYTK) announced today the
resignation of James A. Spudich, Ph.D. from the company's Board of
Directors. Dr. Spudich co-founded the company and has served on the
company's Board since its inception. Contemporaneously with Dr.
Spudich's resignation, the Board has elected Sandford D. Smith to the
company's Board. Both of these changes were effective March 5, 2012.
"We would like to thank Jim for his longstanding dedication and
committed service to our Board," stated Robert I. Blum, Cytokinetics'
President and Chief Executive Officer. "Jim has diligently served the
company through both his Board involvements and as a scientific
advisor for fourteen years. We are fortunate to have had the benefit
of his scientific counsel coupled with his original vision for the
company. On behalf of Cytokinetics' management and our Board, we are
especially grateful for his strategic oversight to the maturation of
our first-in-class discovery programs into a pipeline of promising
drug candidates. We look forward to his continued service to the
company as a key scientific advisor."
Sandford "Sandy" Smith joins the Cytokinetics Board of Directors with
over 30 years of commercial, general management and corporate
development experience in the biopharmaceutical and pharmaceutical
industries. Mr. Smith is currently a Managing Director at Tullis
Health Investors (THI), a family of funds focused on investments in
emerging biopharmaceutical and other healthcare companies. Prior to
joining THI, he served as Executive Vice President of Genzyme
Corporation and President of their International Group, overseeing 45
offices around the world, and leading 1,300 employees. During his 15
years at Genzyme, Mr. Smith was responsible for the successful launch
of 12 new products in multiple therapeutic categories, including rare
genetic disease. From 1986 to 1996, Mr. Smith served as President and
Chief Executive Officer and a Director of RepliGen Corporation, a
publicly traded biotechnology company. Previously, Mr. Smith spent
over ten years with Bristol-Myers Squibb Company where he held a
number of general management positions in the international group,
including Vice President of Corporate Development and Planning for
the U.S. Pharmaceutical and Nutritional Group. Mr. Smith has served
as Director on a number of boards of both public and private
healthcare companies and currently serves as a Board member of
Aegerion Pharmaceuticals and BIO Behavioral Diagnostics Corp, and is
a member of the Board of Trustees of Brigham and Women's Hospital in
Boston. Mr. Smith earned his B.Sc. degree from the University of
"We are pleased to welcome Sandy to Cytokinetics' Board. His
extensive commercial and operational industry experience,
particularly in launching products with orphan drug designated
indications, will be valuable to our company alongside the
advancement of our own drug candidates in late-stage clinical
trials," continued Mr. Blum. "Sandy has worked successfully with
senior government health officials, medical key opinion leaders and
patient and disease advocacy organizations and has been responsible
for regulatory, market access and reimbursement strategies for high
growth pharmaceutical businesses. We look forward to having the
benefit of his judgment and experience in assisting Cytokinetics'
commercial development strategies."
Cytokinetics is a clinical-stage
biopharmaceutical company focused on the discovery and development of
novel small molecule therapeutics that modulate muscle function for
the potential treatment of serious diseases and medical conditions.
Cytokinetics' lead drug candidate from its cardiac muscle
contractility program, omecamtiv mecarbil, is in Phase II clinical
development for the potential treatment of heart failure. Amgen Inc.
holds an exclusive license worldwide (excluding Japan) to develop and
commercialize omecamtiv mecarbil and related compounds, subject to
Cytokinetics' specified development and commercialization
participation rights. Cytokinetics is independently developing
CK-2017357, a skeletal muscle activator, as a potential treatment for
diseases and conditions associated with aging, muscle wasting or
neuromuscular dysfunction. CK-2017357 is currently the subject of a
Phase II clinical trials program and has been granted orphan drug
designation by the U.S. Food and Drug Administration and orphan
medicinal product designation by the European Medicines Agency for
the potential treatment of amyotrophic lateral sclerosis, a
debilitating disease of neuromuscular impairment in which CK-2017357
demonstrated potentially clinically relevant pharmacodynamic effects
in a Phase IIa trial. Cytokinetics is also conducting research of
compounds that inhibit smooth muscle contractility and which may be
useful as potential treatments for diseases and conditions associated
with excessive smooth muscle contraction, such as bronchoconstriction
associated with asthma and chronic obstructive pulmonary disorder
(COPD). All of these drug candidates and potential drug candidates
have arisen from Cytokinetics' research activities and are directed
towards the cytoskeleton. The cytoskeleton is a complex biological
infrastructure that plays a fundamental role within every human cell.
Additional information about Cytokinetics can be obtained at
This press release contains forward-looking statements for purposes
of the Private Securities Litigation Reform Act of 1995 (the "Act").
Cytokinetics disclaims any intent or obligation to update these
forward-looking statements, and claims the protection of the Act's
safe harbor for forward-looking statements. Examples of such
statements include, but are not limited to the properties and
potential benefits of Cytokinetics' drug candidates and potential
drug candidates. Such statements are based on management's current
expectations, but actual results may differ materially due to various
risks and uncertainties, including, but not limited to, potential
difficulties or delays in the development, testing, regulatory
approval and production of Cytokinetics' drug candidates and
potential drug candidates that could slow or prevent clinical
development or product approval, including risks that current and
past results of clinical trials or preclinical studies may not be
indicative of future clinical trials results and that Cytokinetics'
drug candidates and potential drug candidates may have unexpected
adverse side effects or inadequate therapeutic efficacy. For further
information regarding these and other risks related to Cytokinetics'
business, investors should consult Cytokinetics' filings with the
Securities and Exchange Commission.
Jodi L. Goldstein
Manager, Corporate Communications and Marketing
SOURCE: Cytokinetics, Inc.