Synvista Therapeutics Appoints William Federici to its Board of Directors
10 Ottobre 2008 - 10:07PM
PR Newswire (US)
MONTVALE, N.J., Oct. 10 /PRNewswire-FirstCall/ -- Synvista
Therapeutics, Inc. (AMEX:SYI) announces that it has appointed
William (Bill) Federici, 49, to its Board of Directors, expanding
the board to five members. Mr. Federici joined West Pharmaceutical
Services as Vice President and Chief Financial Officer in August of
2003. Under his financial leadership, West Pharmaceutical's
revenues have grown to more than $1.0 billion from $300 million. He
has more than 20 years of public accounting experience, and was
previously National Industry Director for Pharmaceuticals of KPMG
LLP from June 2002 until August 2003. Prior to working at KPMG, he
was an audit partner with Arthur Andersen, LLP where he began his
career. During his tenure at Arthur Andersen, Mr. Federici worked
with several major pharmaceutical companies and eventually became
Global Pharmaceutical Industry Head from 1998 to 2002. Noah
Berkowitz, M.D., President and Chief Executive Officer of Synvista
said, "We are fortunate that Bill has agreed to join our board, and
we intend to tap into his significant knowledge base with respect
to both his financial and pharmaceutical experience. We believe his
background is a perfect fit for Synvista as we grow from a
development stage company to one on the verge of launching a
diagnostic product into the $79 billion diabetes market." Mr.
Federici is a past president and current Board member of CancerCare
of New Jersey. He received a BA degree from Livingston College at
Rutgers and an MBA from the Graduate School of Management at
Rutgers. About Synvista Therapeutics Synvista Therapeutics is a
biopharmaceutical company developing diagnostics and drugs to
diagnose, treat and prevent cardiovascular disease in people with
diabetes. The Company has developed a clinical diagnostic test for
Hp2-2 Diabetes, a disease affecting almost 7 million patients in
the United States. The genetic or protein form of this test can be
used to identify diabetic patients at high risk for cardiovascular
complications. These patients may benefit from a particular
formulation of vitamin E. The Company is also developing a kit to
measure CML (carboxy-methyllysine), another potential
cardiovascular risk marker. Synvista Therapeutics is developing
oral antioxidant drugs to treat the HDL dysfunction seen in Hp2-2
Diabetes. The Company is also developing alagebrium, a proposed
breaker of advanced glycation endproducts (AGEs) for the treatment
of systolic and diastolic heart failure. Diastolic heart failure
represents a rapidly growing market of unmet medical need,
particularly common among diabetic patients. Alagebrium has
demonstrated relevant clinical activity in two Phase 2 clinical
trials in heart failure, as well as in animal models of heart
failure and nephropathy, among others. Alagebrium has been tested
in approximately 1,000 patients in multiple Phase 1 and Phase 2
clinical trials, allowing Synvista Therapeutics to assemble a
sizeable human safety database. For more information, please visit
the Company's Web site at http://www.synvista.com/. Any statements
contained in this press release that relate to future plans, events
or performance are forward-looking statements that involve risks
and uncertainties including, but not limited to, the risks
associated with the events described in this press release, future
clinical development of Synvista Therapeutics' diagnostic tests and
product candidates, and other risks identified in Synvista
Therapeutics' filings with the Securities and Exchange Commission.
Further information on risks faced by Synvista are detailed under
the caption "Risk Factors" in Synvista Therapeutics' Annual Report
on Form 10-K for the year ended December 31, 2007. These filings
are available on a website maintained by the Securities and
Exchange Commission at http://www.sec.gov/. The information
contained in this press release is accurate as of the date
indicated. Actual results, events or performance may differ
materially. Synvista Therapeutics undertakes no obligation to
publicly release the result of any revision to these forward-
looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. Company Contact: Investor/Media Relations
Contact: Synvista Therapeutics, Inc. Lippert/Heilshorn &
Associates 201-934-5000 212-838-3777 Kim Sutton Golodetz () Jules
Abraham (media) () DATASOURCE: Synvista Therapeutics, Inc. CONTACT:
Synvista Therapeutics, Inc., +1-201-934-5000, ; or Investor/Media
Relations Contact: Kim Sutton Golodetz, , or Jules Abraham (media),
, both of Lippert/Heilshorn & Associates, +1-212-838-3777 Web
Site: http://www.synvista.com/
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