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Advanced Magnetics, Inc. (Nasdaq: AMAG) today announced the appointment of Kristen P. Galfetti
to the position of Senior Director, Investor Relations. Ms. Galfetti joins
Advanced Magnetics after more than five years at Genzyme Corporation where
she most recently held the title of Director, Investor Relations. In her
new role, Ms. Galfetti will be responsible for establishing the company's
strategic investor relations program and managing media relations efforts.
"This appointment is an excellent addition to our growing management
team as we enter our next major period of expansion as a company. Kristen's
years of experience in the biotech industry and her ability to effectively
interact with Wall Street and investors will serve Advanced Magnetics
well," commented Brian J.G. Pereira, M.D., President and Chief Executive
Officer of Advanced Magnetics.
While at Genzyme, Ms. Galfetti helped lead global investor relations
and investor communications. She was responsible for managing the company's
annual analyst day, directing marketing roadshows and communicating on
behalf of several diverse business units. She also served key roles in
Genzyme's acquisitions during her tenure at the company. Kristen's
accomplishments have been recognized outside of Genzyme, where she is a
board member of the National Institute of Investor Relations' Boston
chapter. Ms. Galfetti holds an M.B.A. from Bentley College and a B.A. from
the University of Vermont.
About Advanced Magnetics
Advanced Magnetics, Inc. is a developer of superparamagnetic iron oxide
nanoparticles used in pharmaceutical products. As a leader in our field, we
are dedicated to the development and commercialization of our proprietary
nanoparticle technology for use in therapeutic iron compounds to treat
anemia, as well as novel imaging agents to aid in the diagnosis of
cardiovascular disease and cancer.
Ferumoxytol, the company's key product candidate, is being developed
for use as an intravenous iron replacement therapeutic for the treatment of
iron deficiency anemia in chronic kidney disease. The company plans to file
a New Drug Application for marketing approval of ferumoxytol with the U.S.
Food and Drug Administration during the fourth calendar quarter of 2007.
Combidex(R), the company's second product under development, is an
investigational functional molecular imaging agent consisting of iron oxide
nanoparticles for use in conjunction with magnetic resonance imaging, or
MRI, to aid in the differentiation of cancerous from normal lymph nodes. In
March 2005, the company received an approvable letter from the FDA with
respect to Combidex, subject to certain conditions.
For more information about us, please visit our website at
http://www.advancedmagnetics.com, the content of which is not part of this
This document contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 and federal securities
laws. Any statements contained in this press release that do not describe
historical facts, including but not limited to, statements regarding the
expansion of the company, Ms. Galfetti's contributions to the company, and
the planned date for filing a New Drug Application for ferumoxytol, are
forward- looking statements that involve risks and uncertainties that could
cause actual results to differ materially from those discussed in such
forward- looking statements. Such risks and uncertainties include the
following: (1) the possibility that we may not be able to successfully
complete the development of ferumoxytol, or may not be able to complete the
development in a timely or cost-effective manner, due to deficiencies in
the design or oversight by us of these trials, the failure of our trials to
demonstrate that ferumoxytol is safe and efficacious, unexpected results
from our clinical sites, inadequate performance by third-party service
providers involved in the conduct of the clinical trials, or any other
factor causing an increase in expenses, a delay and/or a negative effect on
the results of the clinical studies for ferumoxytol; (2) uncertainties
surrounding the our ability to obtain regulatory approval for ferumoxytol
from the FDA; (3) the possibility that the results of past ferumoxytol
studies may not be replicated in future studies; (4) the fact that we have
limited sales and marketing expertise; (5) uncertainties relating to our
patents and proprietary rights; and (6) other risks identified in our
Securities and Exchange Commission filings. We caution readers not to place
undue reliance on any forward-looking statements which speak only as of the
date they are made. We disclaim any obligation to publicly update or revise
any such statements to reflect any change in expectations or in events,
conditions or circumstances on which any such statements may be based, or
that may affect the likelihood that actual results will differ from those
set forth in the forward-looking statements.
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