News

Posted On: 08/10/2005

Progenics Adds Quality Executive

PharmaManufacturing.com

Progenics Pharmaceuticals announced August 10 that Benedict Osorio has been named Vice President, Quality, a newly created position. He reports to Thomas A. Boyd, Ph.D., Senior Vice President, Product Development. In this capacity, Osorio will be responsible for quality systems throughout the company, including Quality Assurance and Quality Control/Analytical Development.

Osorio joined Progenics from Forest Laboratories, where he served as Senior Director, Good Manufacturing Practices (GMP) Compliance. He has over 25 years of experience in pharmaceutical quality control and quality assurance. Prior to his tenure at Forest Laboratories, Osorio held positions with The PF Laboratories (a subsidiary of Purdue Pharma), Berlex Laboratories and Onyx Chemical Company. Mr. Osorio is also a Certified Quality Engineer and Quality Auditor recognized by the American Society for Quality.

"We are extremely pleased to have Ben join Progenics' executive team," said Boyd. "We believe that his broad experience and background in quality will be a valuable addition as the Company advances its various clinical trials and transitions into a commercial organization."

Progenics also reported on its progress in various areas during the first half of the year:

• Reported positive top-line results from a phase 2 clinical trial of MNTX for the management of post-operative bowel dysfunction.
  
  
• Completed two follow-on public offerings of common stock that provided cash of $57.8 million, net of expenses.
  
  
• Was selected for addition to the NASDAQ Biotechnology Index based upon eligibility criteria, including market value, average daily share volume and seasoning as a public company.
  
  
• Completed enrollment in a phase 1 clinical trial of PRO 140, a novel HIV entry inhibitor that is designed to block human immunodeficiency virus infection.
  
  
• Expanded senior management team with the appointment of Mark R. Baker, J.D. to Senior Vice President & General Counsel, and the promotion of Thomas A. Boyd, Ph.D. to Senior Vice President, Product Development.