Onyx Names Henry J. Fuchs Executive Vice President And Chief Medical Officer
EMERYVILLE, CALIF — Sep. 19, 2005
Contact:
Julie Wood
510-597-6505
Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) today announced the appointment of Henry (Hank) J. Fuchs, M.D., as executive vice president and chief medical officer. Dr. Fuchs, 48, will be responsible for research and development, including clinical development, medical affairs, regulatory affairs, and compliance functions. In this newly created position, he will report directly to Hollings C. Renton, chairman, president, and chief executive officer of Onyx.
"As we have advanced the development of sorafenib, our investigational anticancer agent, we have expanded our clinical capabilities," said Mr. Renton. "With a new drug application currently under review at the FDA and a sizeable - and growing -- clinical trial program, this is a strategically important area. Hiring Hank allows us to integrate all R&D activities, which are largely development focused, under the leadership of an experienced clinical executive."
Previously Dr. Fuchs was chief executive officer of IntraBiotics, a biotechnology company. He originally joined IntraBiotics in 1996 as vice president of clinical affairs before assuming the role of president and chief operating officer in 2001. From 1987 to 1996, Dr. Fuchs was employed by Genentech where he held a number of positions of increasing responsibility. While there he led the clinical team that played an integral role in the approval of Herceptin, a breast cancer treatment, as well as Pulmozyme, a therapeutic for cystic fibrosis. Dr. Fuchs earned an M.D. degree from George Washington University and a B.A. in biochemical sciences from Harvard College. Dr. Fuchs serves on the board of IntraBiotics.
At the same time, Onyx announced that Leonard Post, Ph.D, senior vice president of R&D, will be leaving the company at the end of the year, though he will subsequently remain available to Onyx as a consultant.
"Len has been critical to the successful development of sorafenib, and I am deeply grateful for his numerous contributions to Onyx," said Mr. Renton. "Under his direction, the program has evolved to the point where it is now most appropriately led by a physician. We are pleased that Len will continue his involvement with the company for some time, and wish him the very best in his next venture."
About Onyx Pharmaceuticals, Inc.
Onyx Pharmaceuticals, Inc. is engaged in the development of novel cancer therapies that target the molecular basis of cancer. With its collaborators, the company is developing small molecule drugs, including sorafenib with Bayer Pharmaceuticals Corporation. For more information about Onyx's pipeline and activities, visit the company's web site at: www.onyx-pharm.com.
Forward Looking Statements
This news release also contains "forward-looking statements" of Onyx within the meaning of the federal securities laws. These forward-looking statements include without limitation, statements regarding the progress and results of the clinical development, regulatory processes and commercialization efforts of sorafenib. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated. Reference should be made to Onyx's Annual Report on Form 10-K for the year ended December 31, 2004, as amended, filed with the Securities and Exchange Commission under the heading "Additional Business Risks" and Onyx's Quarterly Reports on Form 10-Q for a more detailed description of such factors. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release. Onyx undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release except as required by law.
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