Press Releases
04/02/01
DR. JEFFREY OSTROVE APPOINTED PRESIDENT OF CEREGENE, SUBSIDIARY OF CELL GENESYS
SAN DIEGO and FOSTER CITY, Calif., April 2, 2001 Jeffrey M. Ostrove, Ph.D., has been named president and chief operating officer of Ceregene, Inc., a San Diego-based biotechnology company focused on gene therapies for neurologic disorders such as Alzheimer's disease and Parkinson's disease. Ceregene is a majority-owned subsidiary of Cell Genesys, Inc. (Nasdaq: CEGE) of Foster City. Dr. Ostrove was formerly chief operating officer of NeuroVir Therapeutics, Inc., of San Diego, which recently was acquired by MediGene AG of Germany.
"We are delighted to have Jeff Ostrove assume a leadership role at Ceregene as the company moves forward to expand its operations," said Stephen A. Sherwin, M.D., chairman and chief executive officer of Cell Genesys and chairman of the board of Ceregene. "Jeff's extensive experience in biotechnology management, product development and gene therapy will be invaluable to Ceregene as the company advances its programs, beginning with its ongoing Phase I human clinical trial of Alzheimer's disease gene therapy."
"I am very excited about the strength of the science that provides the foundation of Ceregene," said Dr. Ostrove. "The encouraging preclinical data that has been published on Alzheimer's and Parkinson's diseases will pave the way for clinical programs at Ceregene which could be potentially important in the future treatment of these and other neurodegenerative diseases."
Prior to joining NeuroVir, Inc., Dr. Ostrove, 47, was senior vice president and chief scientific officer of MAGENTA Corporation of Rockville, MD, a company that he founded as a subsidiary of BioReliance, Inc., where he also was vice president for scientific development. He previously served on the staff of the National Institute of Allergy and Infectious Diseases at the National Institutes of Health. Dr. Ostrove holds a Ph.D. degree in molecular virology from the University of Florida College of Medicine, and completed post-doctoral training at The Johns Hopkins University School of Medicine.
Ceregene was launched in January 2001 as a majority-owned subsidiary of Cell Genesys through the acquisition of Neurologic Gene Therapeutics, a private start-up company based in San Diego. Cell Genesys contributed $10 million to Ceregene, together with access to technology and patents in the central nervous system (CNS) gene therapy area, in exchange for approximately 60 percent ownership of the new company. Ceregene's operations are expected to increase in 2001, and it is expected that longer term, Ceregene will emerge both financially and operationally as an independent biotechnology company. Ceregene's Phase I human clinical trial using gene therapy to treat Alzheimer's disease is currently under way. Preclinical programs are being conducted in Parkinson's disease. Both programs were pioneered by Neurologic Gene Therapeutics prior to the formation of Ceregene.
Cell Genesys is focused on the development and commercialization of cancer vaccines and gene therapies to treat major, life-threatening diseases. The company is conducting clinical trials of GVAX cancer vaccines in prostate cancer, pancreatic cancer, lung cancer and myeloma and expects to initiate new studies in acute leukemia during 2001. Preclinical stage programs include gene therapies for cancer, hemophilia and cardiovascular disorders. Cell Genesys' majority-owned subsidiary, Ceregene, is focused on gene therapies for central nervous system disorders, and Cell Genesys' assets outside gene therapy include its approximately 10.5 percent ownership of Abgenix, Inc. and the company's licensing program in gene activation technology. Cell Genesys, which is headquartered in Foster City, Calif., also has operations in San Diego, Calif. Additional information can be obtained on the company's web site at www.cellgenesys.com.