CAMBRIDGE, Mass., July 9, 2008 (PRIME NEWSWIRE) -- Infinity Pharmaceuticals, Inc. (Nasdaq:INFI), an innovative cancer drug discovery and development company, today announced that it has been named one of "2008's Best Places to Work" by both The Scientist and the Boston Business Journal. The Scientist, a life sciences magazine, cited Infinity for its strong research environment, placing it fifth out of the 207 life science companies who participated in the survey worldwide. Infinity was the only small pharmaceutical honoree by the Boston Business Journal, a broad, cross-industry publication in the Boston area.
"At Infinity, we believe that our culture of Citizen-Ownership is an essential element of our success," said Jeanette Kohlbrenner, senior director, human resources at Infinity. "These awards are wonderful recognition of the environment we have created at Infinity that values innovation and teamwork in a way that both allows individuals to flourish to their potential and helps us flexibly and rapidly achieve our ambitious mission of bringing important new medicines to patients."
In addition, Julian Adams, Ph.D., president of research and development and chief scientific officer at Infinity, was honored by PharmaVOICE as one of the top 100 most inspirational and influential people in the life sciences industry. Dr. Adams was selected from a large group of nominees, submitted by readers. A panel of PharmaVOICE editors evaluated the submissions based on the individual's ability to inspire, motivate, and influence corporate leadership, research and development, technology, creativity, marketing, and strategy in the life sciences industry. Dr. Adams played a key role in bringing to market two first-in-class medicines: VELCADE(r) (bortezomib) for the treatment of multiple myeloma, and Viramune(r) (nevirapine) for the treatment of HIV. Dr. Adams today leads Infinity's efforts to discovery and develop novel drugs for treating cancer, including the potential first-in-class anti-chaperone agent IPI-504 (retaspimycin hydrochloride), an inhibitor of heat shock protein 90 for which a registration trial in gastrointestinal stromal tumors is expected to commence in the third quarter of 2008, and IPI-926, a highly potent antagonist of the Hedgehog pathway that is expected to enter clinical trials in the second half of 2008.
For more details on Infinity's culture of Citizen-Ownership, please visit the company's website at http://www.infi.com.
About Infinity Pharmaceuticals, Inc.
Infinity is an innovative cancer drug discovery and development company that is seeking to leverage its strength in small molecule drug technologies to discover, develop, and deliver to patients best-in-class medicines for the treatment of cancer and related conditions. For more information on Infinity, please refer to the company's website at http://www.infi.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding the commencement of clinical trials of IPI-504 and IPI-493. Such statements are subject to numerous factors, risks and uncertainties that may cause actual events or results to differ materially from the company's current expectations. For example, there can be no guarantee that any product candidate Infinity is developing will successfully complete necessary preclinical and clinical development phases. In particular, management's expectations could be affected by risks and uncertainties relating to: results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S. Food and Drug Administration and other regulatory authorities and investigational review boards at clinical trial sites; Infinity's dependence on its collaboration with AstraZeneca; Infinity's ability to obtain additional funding required to conduct its research, development and commercialization activities; unplanned cash requirements and expenditures; and Infinity's ability to obtain, maintain and enforce patent and other intellectual property protection for any product candidates it is developing. These and other risks which may impact management's expectations are described in greater detail under the caption "Risk Factors" included in Infinity's quarterly report on Form 10-Q for the quarter ended March 31, 2008, as filed with the Securities and Exchange Commission on May 9, 2008. Further, any forward-looking statements contained in this press release speak only as of the date hereof, and Infinity expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
VELCADE(r) and Viramune(r) are registered trademarks of Millennium Pharmaceuticals, Inc. and Boehringer Ingelheim, respectively.
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