SEATTLE, Wash., November 9, 2004 - Dendreon Corporation (Nasdaq: DNDN) has named James V. Caggiano to the position of vice president, sales and marketing. Caggiano will be responsible for Dendreon's marketing, sales and other commercially-related activities, focusing initially on the Company's investigational lead product, Provenge®, a targeted immunotherapy that is currently in a pivotal Phase 3 clinical trial for the treatment of advanced prostate cancer.
Caggiano joins Dendreon from Abbott Laboratories where he served as vice president, U.S. Sales and Marketing of the Abbott Vascular Devices division and was responsible for all aspects of U.S. commercial operations. While at Abbott, he led a 170 person sales organization and coordinated all pre-launch and launch activities.
Previously, Caggiano spent 11 years at TAP Pharmaceutical Products Inc. in various sales and marketing positions where he most recently led marketing operations for Lupron®, a prostate cancer treatment with annual U.S. sales approaching $1 billion.
"Jim has expertise in all stages of pharmaceutical sales and marketing," said Mitchell H. Gold, M.D., president and chief executive officer of Dendreon. "The addition of Jim to our management team is an important component of our efforts to commercialize Provenge and build our oncology franchise."
"I am very enthusiastic to be part of the Dendreon team as we prepare for the commercialization of Provenge," said Caggiano. "This is a promising product candidate that has the potential to fill a large unmet need among prostate cancer patients who currently have few appealing treatment options."
Dendreon Corporation is a biotechnology company whose mission is to target cancer and transform lives through the development of innovative cancer treatments. In addition to its immunotherapies in clinical and preclinical development for a variety of cancers, Dendreon's product pipeline also includes monoclonal antibody and small molecule product candidates. Dendreon has research and development alliances with Genentech, Inc., Abgenix, Inc. and Dyax Corp. For more information about the company and its programs, visit www.dendreon.com.
Except for historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially from the results discussed in the forward-looking statements, particularly those risks and uncertainties inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics. Factors that may cause such a difference include reliance on key employees, risks related to Dendreon's limited operating history, risks associated with Dendreon's lack of experience in sales, marketing or distribution of therapeutic products, the risk that the results of a clinical trial, including Phase 3 trials of Provenge, will not support applying for or approval of a biologics license by the FDA, the risks associated with development of manufacturing capabilities and other infrastructure to support commercialization, including the risks that we may be unable to successfully scale up our manufacturing and production capabilities or may lack adequate capital to do so, the risk that our product candidates, if approved for sale, may have none or limited commercial success, the risk that clinical trials may be delayed, suspended or terminated because of unacceptable health risks or for other reasons, and the risks that our competitors may develop products that are safer, more effective or reach the market sooner than our product candidates, the uncertainty of Dendreon's future access to capital, the risk that Dendreon may not secure or maintain relationships with collaborators, and dependence on intellectual property. Further information on the factors and risks that could affect Dendreon's business, financial condition and results of operations, are contained in Dendreon's filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov.
Monique M. Greer
Sr. Director, Corporate Communications