IRVINE, Calif., July 20 /PRNewswire-FirstCall/ -- Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) announced today that all six of the Company's nominees to the Board of Directors were elected at the Annual Meeting of Stockholders held on Friday, July 20, 2007 at the Company's corporate headquarters in Irvine, California. Each of the directors, who received over 95% of the votes cast, will serve for a one-year term. The continuing directors are Dr. Stuart Krassner, Mr. Anthony E. Maida, III, Dr. Rajesh C. Shrotriya, Dr. Julius A. Vida and Mr. Richard D. Fulmer. Mr. Mitchell P. Cybulski, who replaces the retiring Dr. Dilip J. Mehta, was nominated and elected to the Board of Directors.
"I would like to thank Dr. Mehta for his distinguished service on our board of directors. His guidance and leadership was crucial during our time of need. His decades of experience as a leader in our industry was instrumental in the development of the solid foundation on which Spectrum currently stands, and on which we plan to grow into a world-class company. Personally, I am proud to say that Dilip has been my mentor, a guide, and a friend. We wish him the best in his retirement," said Rajesh C. Shrotriya, M.D., Chairman, President and Chief Executive Officer of Spectrum Pharmaceuticals. "Our board, with the addition of Mr. Cybulski, has the appropriate mix of experience and talent in matters of strategy, science, marketing, business development and finance that will allow Spectrum Pharmaceuticals to continue to identify promising drug candidates and develop and advance them through the clinical and regulatory process. His guidance will help us move quickly and effectively to the next level."
BIOGRAPHIES Mitchell P. Cybulski, M.B.A. -- More than thirty years of pharmaceutical experience. -- Ten years at SmithKline Beecham, Plc., most recently as Chairman International, responsible for all pharmaceutical, vaccine and consumer sales with responsibility for all territories outside of North America and Europe. Maintained membership on Corporate Management Committee, the Pharmaceutical Management Committee, the Consumer Executive Committee, the Pharmaceutical Review Board and the Corporate Compensation Committee. -- Nineteen years at Bristol Myers, most recently as President Japan, with responsibility for all pharmaceutical, laboratory testing and consumer businesses including a joint venture in OTC medicines. -- Responsible for the integration of the Bristol-Myers and Squibb pharma business in 1990 and was a member of the International Management Committee. For five years he was the Chairman of the Pharmaceutical Subcommittee of the American Chamber of Commerce in Japan. Stuart M. Krassner, Sc.D., Psy.D. -- More than forty years of experience in various positions at the University of California, Irvine, at the School of Biological Sciences. -- Developed and reinforced FDA and NIH compliance procedures for UCI- sponsored human clinical trials and animal research, and established UCI's first institutional review board. -- Published many articles in peer-reviewed journals and lectured at Harvard Medical School, The John Hopkins University, NIH, and WHO. Anthony E. Maida, III, M.A., M.B.A. -- Over twenty-five years of experience in senior executive positions, including seventeen years as CEO of several emerging biotech companies. -- Served as Senior Financial Controller of $1.7 billion division of Lockheed Missiles and VP, CFO of Dataplant, Inc. -- Provides technical and corporate advisory services to many pharmaceutical firms, serves on a number of biotechnology boards and advises many investment and venture capitalist firms. -- Currently involved in basic research involving tumor immunology. Richard D. Fulmer, M.B.A. -- Spent twenty-four years at Pfizer, Inc. in a number of high-level marketing and business development capacities, including over five years as Vice President of Licensing and Development. -- Was a key part of the commercial launch of the leading anti-fungal agent Diflucan, the number one selling SSRI antidepressant Zoloft, and the novel alpha-blocker Cardura used for benign prostate hypertrophy. -- Responsible for the formation of a strategic alliance between Pfizer and Eisai related to the clinical development and commercialization of Aricept for Alzheimer's disease, the creation of a co-development and co-promotion agreement between Pfizer and Park Davis for Lipitor, and the creation of an alliance at Pfizer for the commercialization of Exubera, a pulmonary insulin product. Julius A. Vida, Ph.D. M.B.A. -- Over forty years of experience in the pharmaceutical industry. -- Spent eighteen years at Bristol-Myers Squibb Company, most recently as VP, Business Development, Licensing and Strategic Planning, where he was credited for in-licensing numerous drugs, many of which reached annual sales in the billions of dollars. -- Serves as a member of the Board of Directors of several biotechnology companies. -- Played an integral role in licensing satraplatin to Spectrum prior to being appointed to the Company's board of directors. Rajesh C. Shrotriya, M.D. -- Over thirty years of experience in a number of senior executive positions at several publicly traded pharmaceutical companies focused in the area of oncology research. -- Spent eighteen years at Bristol-Myers Squibb Company, a leading pharmaceutical company in the area of cancer products. -- Has served as Chairman, CEO and President of Spectrum since August 2002.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals acquires, develops and commercializes a diversified portfolio of oncology drug candidates that meet critical health challenges for which there are few other treatment options. Spectrum's expertise lies in identifying undervalued drugs with demonstrated safety and efficacy, and adding value through further clinical development and selection of the most viable and risk-reduced methods of commercialization. The company's pipeline includes promising early and late-stage drug candidates with unique formulations and mechanisms of action that address the needs of seriously ill patients, such as at-home chemotherapy and new treatment regimens for refractory disease. For more information, please visit our website at http://www.spectrumpharm.com.
Forward-looking statement -- This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements include but are not limited to statements that relate to our business and its future, Spectrum's ability to identify, acquire, develop and commercialize its portfolio of drug candidates, the Company's promising pipeline, our team's ability to identify promising drugs and move these drugs through development and toward commercialization, that we plan to grow into a world-class company, that we will to continue to identify promising drug candidates and develop and advance them through the clinical and regulatory process, that Mr. Cybulski's guidance will help us move quickly and effectively to the next level and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates, may not prove safe or effective, the possibility that our existing and new drug candidates may not receive approval from the FDA, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of revenues, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.
COMPANY CONTACTS MEDIA CONTACT Russell Skibsted Susan Neath SVP & Chief Business Officer Porter Novelli Life Sciences 619-849-6007 Paul Arndt Manager, Investor Relations 949-788-6700
Source: Spectrum Pharmaceuticals, Inc.
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