BURLINGTON, Mass., Dec. 20, 2011 (GLOBE NEWSWIRE) -- Coronado Biosciences, Inc., (Nasdaq:CNDO), a biopharmaceutical company focused on the development of novel immunotherapy agents for the treatment of autoimmune diseases and cancer, today announced that Karin Hehenberger, M.D., Ph.D. has joined the Company as Senior Vice President of Scientific Affairs. Dr. Hehenberger's responsibilities will initially be focused on broadening the scope of proof of concept trials in various autoimmune diseases with Coronado's lead product CNDO-201.
Dr. Bobby W. Sandage, Jr., Coronado's President and CEO, said, "Karin joins Coronado with extensive industry experience and a unique background in healthcare, resulting from her work at pharmaceutical, biotechnology and not for profit companies, as well as in private equity and equity research. In this newly created role, Karin will focus on initiating investigator sponsored clinical trials with CNDO-201, our lead compound for the treatment of autoimmune diseases. She will also work with key opinion leaders and organizations to obtain funding and initiate additional studies in indications where CNDO-201 shows promise."
Most recently, Dr. Hehenberger was Senior Vice President for Strategic Alliances at the Juvenile Diabetes Research Foundation (JDRF). She was responsible for advancing the JDRF's involvement with scientific, financial, and commercial partners in the diabetes community. Prior to JDRF, Dr. Hehenberger worked at Johnson & Johnson as Vice President of Metabolic Strategy and Business Development.
Dr. Hehenberger holds M.D. and Ph.D. degrees from the Karolinska Institute in Stockholm, Sweden. She continued her research as a JDRF post-doctoral fellow at the Joslin Diabetes Center at Harvard Medical School and then moved into the business aspect of medicine, as a strategic management consultant at McKinsey & Co. Dr. Hehenberger also has experience in public and private equity, having been a partner in Scandinavian Life Science Venture, a buy-side healthcare equity analyst at Brummer & Partners and Argus Partners, and on the senior management team of Eyetech Pharmaceuticals.
About CNDO-201
CNDO-201 is Coronado Biosciences' designation for our immunomodulator, Trichuris suis ova (TSO), the microscopic eggs of a parasitic helminth also known as the pig whipworm. The use of TSO as a therapeutic immunomodulator is based on the "hygiene hypothesis" and numerous animal and human studies. TSO was chosen as the biological agent of choice because it is not a human pathogen and is spontaneously eliminated from the body within several weeks after dosing. Multiple investigator-sponsored clinical trials of TSO for the treatment of Crohn's disease, ulcerative colitis and multiple sclerosis have been completed in which TSO demonstrated benefit with regard to accepted outcome measurements of remission of disease and was shown to be well tolerated.
About Coronado Biosciences
Coronado Biosciences is engaged in the development of novel immunotherapy biologic agents. The Company's two principal pharmaceutical product candidates in clinical development are: CNDO-201, a biologic for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative colitis and multiple sclerosis; and CNDO-109, a biologic that activates natural killer (NK) cells, for the treatment of acute myeloid leukemia (AML) and solid tumors. For more information, please visit www.coronadobiosciences.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company's product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated risks relating to the results of research and development activities, uncertainties relating to preclinical and clinical testing, financing and strategic agreements and relationships, the early stage of products under development, our need for substantial additional funds, government regulation, patent and intellectual property matters; our dependence on third party suppliers and competition, as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.