SAN DIEGO, Sept. 8, 2014 (GLOBE NEWSWIRE) -- Vital Therapies, Inc. (Nasdaq:VTL), a biotherapeutic company developing ELAD®, a cell-based therapy targeting treatment of acute liver failure, is announcing an addition to the management team and providing an update on the status of its VTI-208 clinical trial.
Al Kildani has joined the Company as Vice President, Investor Relations and Business Development. Most recently, Mr. Kildani served as Senior Director, Investor Relations for Hologic, Inc., a global medical device company. Mr. Kildani held the same role with Gen-Probe Incorporated prior to its acquisition by Hologic in 2012. Before entering the life sciences industry, Mr. Kildani spent over 12 years on Wall Street as a sell-side analyst, buy-side analyst and investment banker with a focus on emerging technologies in biotechnology and medical devices. Mr. Kildani will report to Duane Nash, Executive Vice President and Chief Business Officer, who will remain actively involved in investor relations.
"We are excited to have Al join the Vital Therapies team as he brings a unique skill set that combines strong Wall Street and life sciences industry experience. We are confident he will add value and continue our credible and transparent communications with the investment community," said Terry Winters, Ph.D., Chief Executive Officer and Co-Chairman of Vital Therapies.
As of today, 150 of a targeted 200 subjects have been enrolled in VTI-208, our randomized, controlled Phase 3 clinical trial in alcohol induced liver decompensation. Enrollment rates remain consistent with prior projections, and preliminary results are expected in the first half of 2015. Forty-nine clinical sites are now open in the USA, UK, Spain and Australia, and 38 sites have enrolled at least one subject.
About Vital Therapies, Inc.
Vital Therapies, Inc. is a biotherapeutic company developing a cell-based therapy targeting treatment of acute liver failure. The Company's lead product-candidate, the ELAD System, is an extracorporeal bio-artificial liver therapy currently in Phase 3 clinical trials. Vital Therapies, Inc. is based in San Diego, California. Vital Therapies® and ELAD® are trademarks of Vital Therapies, Inc.
Cautionary Note About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among others, statements concerning or implying our ability to undertake certain development activities such as clinical trial enrollment, the conduct of our clinical trials and the timing of data release, accomplishment of certain development goals, and expectations for the performance of our management team. Forward-looking statements are based on management's current, preliminary expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements do not constitute guarantees of future performance and you are cautioned not to place undue reliance on these forward-looking statements. Risks and uncertainties include, but are not limited to, the Company's dependence on the success of its ELAD system, its sole product candidate; the success or failure of its clinical trials and development programs; difficulty obtaining regulatory approval in the United States or Europe, in particular for a combination product; whether a single Phase 3 clinical trial is sufficient to support FDA approval and whether the FDA will require the Company to conduct additional clinical trials; the Company's limited experience in conducting pivotal clinical trials and significant issues regarding its clinical trials, including, but not limited to, the successful opening and the continued participation of clinical sites and their ongoing adherence to protocols, assumptions regarding enrollment rates, timing and availability of subjects meeting inclusion and exclusion criteria, changes to protocols or regulatory requirements, the ability to comply with and meet applicable laws and regulations, unexpected adverse events or safety issues and the sufficiency of funding. There can be no assurance that data from any of our clinical trials will be sufficient to support an application for marketing in any country or that any such application will ever be approved. These and other risks regarding our business are described in detail in our SEC filings, including in our recently filed Quarterly Report on Form 10-Q for the quarter ended June 30, 2014. These forward-looking statements speak only as of the date hereof and Vital Therapies, Inc. disclaims any obligation to update these statements except as may be required by law.