BURLINGTON, Mass., Oct. 3, 2011 /PRNewswire/-- Coronado Biosciences, Inc. today announced the appointment of Noah D. Beerman as Executive Vice President and Chief Operating Officer effective September 26, 2011.
Dr. Bobby W. Sandage, Jr., Coronado's President and CEO, said, "Noah brings with him a breadth of experience from an extensive career holding senior management positions in the industry. With his leadership and expertise in business operations, corporate development, and financing emerging biopharmaceutical companies, he will be a key asset as we execute the Company's business plan, work to maximize shareholder value, and increase our visibility. We are pleased to welcome him to the Coronado team at such an exciting time for the Company."
Mr. Beerman has over 25 years experience in the biopharmaceutical industry. Before joining Coronado as a consultant in May 2011, Mr. Beerman served as President and Chief Executive Officer and a Director of Galena Biopharma, formerly RXi Pharmaceuticals Corporation, from November 2009 until April 2011 where he successfully completed two equity financings, significantly improved Wall Street visibility for the company, and developed and implemented a focused therapeutic and clinical strategy. Prior to joining RXi, he spent more than 10 years at Indevus Pharmaceuticals, Inc. serving most recently as Executive Vice President, Chief Business Officer from September 2004 until the sale of the company to Endo Pharmaceuticals, Inc. in 2009. Mr. Beerman holds an M.B.A. from Northeastern University's High Technology Program graduating Beta Gamma Sigma, and a B.S. in molecular genetics from the University of Rochester graduating Phi Beta Kappa, Magna Cum Laude.
About Coronado Biosciences
Coronado Biosciences is engaged in the development of novel immunotherapy biologic agents. The Company's two principal pharmaceutical product candidates in clinical development are: CNDO-201, a biologic for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative colitis and multiple sclerosis; and CNDO-109, a biologic that activates natural killer cells, for the treatment of acute myeloid leukemia and solid tumors.
The Company recently completed a $25.8 million round of financing and is using the proceeds to advance its pipeline, including funding Phase II double-blind, placebo controlled trial of CNDO-201 for the treatment of Crohn's Disease scheduled for initiation in early 2012 and a Phase I/II dose escalation and expansion trial of CNDO-109 for the treatment of relapsed Acute Myeloid Leukemia (AML) planned for 2012. Each of these drugs is a novel therapy that has achieved clinical proof-of-concept in indications with unmet medical needs.
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company's product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated risks relating to the results of research and development activities, uncertainties relating to preclinical and clinical testing, financing and strategic agreements and relationships, the early stage of products under development, our need for substantial additional funds, government regulation, patent and intellectual property matters; and competition, as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
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Dennis S. Dobson Jr., CEO
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Dobson Media Group
SOURCE Coronado Biosciences, Inc.