This news is very significant. IDEC developed the new monoclonal antibody drug that Genentech markets for lymphoma. Dr. Sobol has a track record. The market is valuing this company at about $12 million. It should be more like 5 to 10 times that value. Undiscovered. I am loading up big time.
SAN DIEGO--(BW HealthWire)--Aug. 3, 1998--UroGen Corp. (OTCBB:UROG) announced that Robert E. Sobol, M.D. has been named president, chief executive officer and director.
Sobol replaces Paul Quadros who was named chairman of the board. Sobol, a founder of IDEC Pharmaceuticals, had previously served as UroGen's executive vice president and chief operating officer. Joining Sobol as new members of the board of directors are Victor W. Schmitt, president, Venture Management Baxter Healthcare and Wei-Wei Zhang, M.D., Ph.D., director, Molecular Biology of Baxter Healthcare's Gene Therapy Unit. Zhang leads the team of scientists joining UroGen and relocating to San Diego. Sobol, Schmitt and Zhang join Quadros, Ivor Royston, M.D. and Peter Bernardoni on the UroGen board of directors.
Commenting on Sobol's appointment Paul Quadros, chairman stated, "Dr. Sobol brings to his new role as the CEO of UroGen a rare combination of business, scientific and clinical experience needed at this point in our development. With our recent acquisition of new gene delivery technologies from Baxter, we need to rapidly move our products into the clinic. Dr. Sobol has an impressive record of bringing innovative therapy to patients."
UroGen is a biotechnology company currently developing products for the diagnosis and treatment of prostate cancer. Based on its recent corporate partner agreement with Baxter, the company's charter will now expand to include treatments for other forms of cancer and genetic disorders.
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CONTACT:
UroGen Corporation
Robert E. Sobol, 619/450-5949 |
