NEW HAVEN, Conn., May 17 /PRNewswire-FirstCall/ -- Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) today announced that John C. Pottage, Jr., M.D., Senior Vice President and Chief Medical Officer, has resigned to accept a senior clinical development position at GlaxoSmithKline. His resignation will become effective on May 29, 2007. Milind Deshpande, Ph.D., Senior Vice President and Chief Scientific Officer, will assume leadership of Achillion's clinical development activities in addition to his current drug discovery responsibilities.
"John has played a significant role in building a strong clinical development organization as Achillion moves toward pivotal trials for its lead HIV candidate, elvucitabine. We wish John all the best with his new endeavor and thank him for his years of service to Achillion," said Michael Kishbauch, President and Chief Executive Officer of Achillion. "Milind's prior development experience will enable him to maintain the momentum of our clinical programs as we conduct our search for a new chief medical officer."
Dr. Deshpande joined Achillion in September 2001 as Vice President of Chemistry, was named head of drug discovery in April 2002, and Vice President of Drug Discovery in December 2002. Prior to Achillion, Dr. Deshpande was Associate Director of Lead Discovery and Early Discovery Chemistry at the Pharmaceutical Research Institute at Bristol-Myers Squibb from 1991 to 2001. From 1988 to 1991, he held a faculty position at Boston University Medical School.
Achillion is an innovative pharmaceutical company dedicated to bringing important new treatments to patients with infectious disease. The company's proven discovery and development teams have advanced multiple product candidates with novel mechanisms of action. Achillion is focused on solutions for the most challenging problems in infectious disease -- HIV, hepatitis and resistant bacterial infections. For more information on Achillion Pharmaceuticals, please visit the company's web site at http://www.achillion.com or call Achillion at 1-203-624-7000.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including statements with respect to Achillion's ability to discover and develop drug candidates. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: unexpected regulatory actions or delays; uncertainties relating to results of clinical trials, including additional data relating to ongoing clinical trials; Achillion's ability to obtain additional funding required to conduct its research, development and commercialization activities and Achillion's dependence on its collaboration with Gilead Sciences. These and other risks are described in the reports filed by Achillion with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2006.
All forward-looking statements reflect Achillion's expectations only as of the date of this release and should not be relied upon as reflecting Achillion's views, expectations or beliefs at any date subsequent to the date of this release. Achillion anticipates that subsequent events and developments may cause these views, expectations and beliefs to change. However, while Achillion may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so.
Contact: Mary Kay Fenton Achillion Pharmaceuticals, Inc. Tel. (203) 624-7000 Media: Kari Watson MacDougall Biomedical Communications, Inc. Tel. (508) 647-0209 firstname.lastname@example.org
Source: Achillion Pharmaceuticals, Inc.