PARSIPPANY, N.J., Oct. 11, 2006 (PRIMEZONE) -- Alteon Inc. (AMEX:ALT) announced today that Noah Berkowitz, M.D., Ph.D., President and Chief Executive Officer of Alteon, will present at the BIO InvestorForum 2006 on Wednesday, October 18, 2006 at 1:40 p.m. (PT) at the Palace Hotel in San Francisco, CA.
Dr. Berkowitz will discuss the company's planned or ongoing Phase 2 initiatives for alagebrium in heart failure and diabetic nephropathy, and for ALT-2074 in acute coronary syndrome. Dr. Berkowitz will also provide an update of recent milestones, including preclinical data demonstrating alagebrium's reversal of diabetic kidney disease, and a new NIH-funded Phase 2 study of alagebrium.
The presentation will be simultaneously webcast and can be viewed live at the investor relations section of Alteon's website, www.alteon.com. It will be archived there after the event.
Note to BIO Attendees: Alteon has made additional time available for one-on-one meetings during the conference. If interested, please arrange through BIO or by contacting Nancy Regan at 201-818-5877 or nregan@alteon.com.
About Alteon
Alteon is a product-based biopharmaceutical company engaged in the development of small molecule drugs to treat and prevent the inflammatory aspects of cardiovascular disease and diabetes. The Company has identified several promising product candidates that it believes represent novel approaches to some of the largest pharmaceutical markets.
Alagebrium, a product of Alteon's drug discovery and development program, is being developed for the treatment of diastolic heart failure. This disease 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, which represents a sizeable human safety database.
The Company's portfolio also includes orally bioavailable, organoselenium mimics of glutathione peroxidase that metabolize lipid peroxides and have the potential to limit myocardial damage subsequent to a myocardial infarction. Alteon's lead compound for that program, ALT-2074, is in Phase 2 clinical trials. The Company also has rights to a diagnostic assay that identifies a large subset of diabetic patients at highest risk for cardiovascular complications, because of a defect in oxidized lipid metabolism that results in increased cardiovascular inflammation. For more detailed information about Alteon's research and development, please visit Alteon's website at www.alteon.com.
Any statements contained in this press release that relate to future plans, events or performance, including the effect of the Phase 2 exercise study on the future clinical development of, and regulatory approval processes for, alagebrium, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include, but are not limited to, those relating to Alteon's ability to obtain sufficient funding to continue as a going concern and to continue the development of alagebrium and ALT-2074, technology and product development (including the possibility that early clinical trial results may not be predictive of results that will be obtained in large-scale testing or that any clinical trials will not demonstrate sufficient safety and efficacy to obtain requisite approvals or will not result in marketable products), regulatory approval processes, intellectual property rights and litigation, competitive products, and other risks identified in Alteon's filings with the Securities and Exchange Commission. Further information on risks faced by Alteon are detailed under the caption "Risk Factors" in Alteon's Annual Report on Form 10-K for the year ended December 31, 2005 and in its subsequent Quarterly Reports on Form 10-Q. 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. Alteon 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.