ChemGenex Appoints Experienced Biotechnology Executive as Chief Medical Officer

Monday October 8 2:24 AM

ChemGenex Pharmaceuticals Limited (ASX: CXS.AX) (NASDAQ:CXSP) today announced the appointment of Adam R. Craig MD, PhD, MBA as Senior Vice President and Chief Medical Officer. In this position, Dr. Craig will leverage more than 15 years of clinical, oncology and drug development experience to direct ChemGenex's global clinical development strategies and to design and implement clinical trials to evaluate the company's pipeline of novel cancer therapeutic agents. Dr. Craig also will be responsible for building and leading ChemGenex's clinical development and translational medicine team.

Dr. Craig has extensive expertise in building and managing clinical teams focused on product registration, with particular experience in developing therapies for hematologic malignancies such as chronic myeloid leukemia (CML). Most recently, he was Vice President and founding Chief Medical Officer at Innovive Pharmaceuticals, Inc., an oncology and hematology drug development company based in New York. In this position, Dr. Craig led product development activities, including preclinical development; pharmacokinetics and toxicology; regulatory affairs and clinical development. Prior to joining Innovive, Dr. Craig held positions of increasing responsibility including Vice President and Medical Director at ArQule Inc., Senior Director at Ilex Oncology Inc., and Medical Advisor at Antisoma plc. Dr. Craig received his medical qualifications from London University, a PhD in molecular medicine at the University of Leeds, and an MBA from the Open Business School, in the United Kingdom. Dr. Craig is a member of the Royal College of Physicians (UK) and undertook post-graduate training in pediatrics and pediatric oncology.

"As we position omacetaxine for regulatory submission and possible market launch, Dr. Craig is a pivotal appointment for ChemGenex. His medical expertise and entrepreneurial spirit make him an ideal member of the ChemGenex team, and we look forward to the positive impact that he will have leading our clinical development activities," said Greg Collier, Ph.D., Chief Executive Officer and Managing Director of ChemGenex. "Adam Craig has a proven track record of success in developing novel compounds, managing both early and late stage clinical development activities. In addition to guiding the completion of the registration-directed phase 2/3 clinical trails, his skills as a leader and manager will play an integral role in our plans to build ChemGenex into the future."

Dr. Craig commented, "I am delighted to join ChemGenex at this exciting stage in the company's development. I look forward to being a part of a team that shares my passion for improving the treatment options for patients with hematological and other cancers."

Dr. Craig will lead the clinical development team at ChemGenex, which has been strengthened by two other appointments in recent months. Mr. Eric Humphriss (Senior Director of Clinical Affairs) and Mr. Ed Kirk (Associate Director of Clinical Affairs) have both joined the company from Genentech, Inc. Both Mr. Humphriss and Mr. Kirk have extensive experience in drug development in the biotechnology and pharmaceutical industries, focusing on oncology clinical development programs that have resulted in successful submissions and FDA approvals.

Omacetaxine mepesuccinate, is the United States Adopted Names (USAN) approved International Non-Proprietary Name (INN) for Ceflatonin(R).

About ChemGenex Pharmaceuticals Limited (www.chemgenex.com)

ChemGenex Pharmaceuticals is a pharmaceutical development company dedicated to improving the lives of patients by developing therapeutics in the areas of oncology, diabetes and obesity. ChemGenex harnesses the power of genomics for target discovery and validation, and in clinical trials to develop more individualized therapeutic outcomes. ChemGenex's lead compound, omacetaxine mepesuccinate (formerly known as Ceflatonin(R)), is currently in phase 2/3 clinical trials for chronic myeloid leukemia (CML) and amonafide dihydrochloride (formerly known as Quinamed(R)) is in phase 2 clinical development for prostate, breast and ovarian cancers. The company has a significant portfolio of anti-cancer, diabetes and obesity programs, several of which have been partnered with international pharmaceutical companies. ChemGenex currently trades on the Australian Stock Exchange under the symbol "CXS" and on NASDAQ under the symbol "CXSP".

Safe Harbor Statement

Certain statements made herein that use the words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the company's technology, the ability to successfully market products in the clinical pipeline, the ability to advance promising therapeutics through clinical trials, the ability to establish our fully integrated technologies, the ability to enter into additional collaborations and strategic alliances and expand current collaborations and obtain milestone payments, the suitability of internally discovered genes for drug development, the ability of the company to meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company's technology, the market for the company's products, government regulation in Australia and the United States, changes in tax and other laws, changes in competition and the loss of key personnel. These statements are based on our management's current expectations and are subject to a number of uncertainties that could change the results described in the forward-looking statements. Investors should be aware that there are no assurances that results will not differ from those projected.

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