NEW HAVEN, Conn., June 11, 2007 (PRIME NEWSWIRE) -- Achillion Pharmaceuticals, Inc. (Nasdaq:ACHN), a leader in the discovery and development of small molecule drugs to combat the most challenging infectious diseases, today announced that Milind Deshpande, Ph.D. has been promoted to Executive Vice President of Research. Dr. Deshpande previously served as the Company's Senior Vice President, and retains his position as Chief Scientific Officer.
"Milind has been instrumental in the advancement of our pipeline of infectious disease candidates, including ACH-702 for serious bacterial infections and our NS4A antagonists for the treatment of HCV, which were discovered through our own internal drug discovery capabilities," said Michael D. Kishbauch, Chief Executive Officer of Achillion. "We recognize his contributions to Achillion and look forward to his continued leadership."
Dr. Deshpande joined Achillion as Vice President of Chemistry in September 2001. He was named Head of Drug Discovery in April 2002, and promoted to Vice President of Drug Discovery in December 2002. Prior to joining Achillion, Dr. Deshpande was Associate Director in Chemistry at the Pharmaceutical Research Institute at Bristol-Myers Squibb, where he managed the identification of new clinical candidates to treat infectious and neurological diseases. Before that, Dr. Deshpande held a faculty position at Boston University Medical School. Following his undergraduate education in India, Dr. Deshpande received his Ph.D. in Organic Chemistry from Ohio University.
In May 2007, Dr. Deshpande temporarily assumed leadership of Achillion's clinical development activities upon the resignation of John Pottage, Jr., M.D., as Senior Vice President and Chief Medical Officer. He will retain these responsibilities while the Company continues its search for a new chief medical officer.
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: Achillion Pharmaceuticals, Inc. Mary Kay Fenton (203) 624-7000 MacDougall Biomedical Communications, Inc. Media: Kari Watson (508) 647-0209 firstname.lastname@example.org