FLEMINGTON, N.J., March 24, 2014 (GLOBE NEWSWIRE) -- Arno Therapeutics, Inc. (OTCQB:ARNI), a clinical stage biopharmaceutical company focused on the development of oncology therapeutics, today announced that it has appointed Randy H. Thurman as Vice Chairman of the Company's Board of Directors. Along with Arno's Chairman Dr. Arie Belldegrun, Mr. Thurman, who joined the Board in January 2013, will serve on the executive committee and work with the Company's leadership team to focus on the development of Arno's oncology pipeline, business development strategies and other key operational initiatives.
Dr. Belldegrun said, "Randy has been an instrumental member of Arno's Board and brings more than 25 years of executive leadership experience in pharmaceuticals, biotechnology and life sciences. In addition, he has extensive corporate governance experience. Our backgrounds greatly complement one another and bring medical and executive leadership to the company that will allow us to work with management to accelerate the success of Arno. Arno's therapeutic approach, I believe, is among several emerging technologies that have the potential to greatly impact cancer treatment.
Mr. Glenn Mattes, President and CEO of Arno Therapeutics, added, "Randy and I began working together over 20 years ago. His strategic leadership and industry experience have been invaluable to our Company since he joined the Board a year ago. Randy's appointment as Vice Chairman enables us to benefit more directly from his vast executive experience. Moreover, this important Board-level change complements the recent additions to Arno's management team and strengthens our collective leadership capabilities. We are now poised to continue making significant clinical strides in our Phase I trials of onapristone in women with progesterone receptor expressing tumors and our recently initiated Phase I/II trial of onapristone in men with advanced, castration-resistant prostate cancer. In addition, we continue to plan long-term for our other product candidates such as AR-42, an oral pan-HDAC inhibitor and AR-12, an oral kinase inhibitor."
Mr. Thurman brings extensive experience to his new role. Since 2008, Mr. Thurman has served as a senior advisor and operating executive in private equity with a focus on the life sciences. He was previously founder, President and CEO of VIASYS Healthcare Inc. and was Chairman and CEO of Corning Life Sciences, which spun off both Quest Diagnostics Inc. and Covance Inc. Earlier in his career, Mr. Thurman was President of Rhone-Poulenc Rorer Pharmaceuticals Inc. and Rorer Pharmaceuticals Inc. Mr. Thurman is currently Executive Chairman of Presbia PLC and a director of Allscripts Inc.
Mr. Thurman commented, "I am honored by my appointment as Vice Chairman of Arno Therapeutics. I am fully dedicated to working with Dr. Belldegrun and the Board and Glenn Mattes and the management team to ensure we maximize the success of Arno for the benefit of cancer patients worldwide and to serve all of our stakeholders."
About Arno Therapeutics
Arno Therapeutics is a clinical stage biopharmaceutical company developing innovative products for the treatment of cancer. Arno has exclusive worldwide rights to develop and market three innovative anti-cancer product candidates. These compounds are in clinical or preclinical development as product candidates to treat hematologic malignancies and solid tumors. For more information about the company, please visit www.arnothera.com .
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These forward-looking statements include, without limitation, statements regarding the timing, progress and anticipated results of the clinical development of onapristone and the Company's other product candidates, as well as Arno's strategy, future operations, outlook, milestones, future financial position, future financial results, plans and objectives. Arno may not actually achieve these plans, intentions or expectations and Arno cautions investors not to place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Various important factors could cause actual results or events to differ materially from the forward-looking statements that we make. Such factors include, among others, risks that the results of clinical trials will not support our claims or beliefs concerning the effectiveness of onapristone or any of our other product candidates, our ability to finance the development of our product candidates, regulatory risks, and our reliance on third party researchers and other collaborators. Additional risks are described in the company's Annual Report on Form 10-K for the year ended December 31, 2012. Arno is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.
The Ruth Group Lee Roth (investors) (646) 536-7012 Kirsten Thomas (media) (646) 536-7014 Arno Therapeutics Glenn Mattes (862) 703-7176
