SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported) February 14, 2002
ALTEON INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 001-16043 13-3304550
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(State or Other Juris- (Commission (I.R.S. Employer
diction of Incorporation) File Number) Identification No.)
170 Williams Drive, Ramsey, New Jersey 07446
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (201) 934-5000
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(Former Name or Former Address, If Changed Since Last Report)
Item 5. Other Events
On February 14, 2002, Alteon Inc. issued the following press release:
ALTEON ADDS PHARMA MARKETING AND LICENSING EXPERT TO SENIOR MANAGEMENT TEAM
RAMSEY, N.J., Feb 14, 2002 /PRNewswire-FirstCall via COMTEX/ -- Alteon Inc.
(Amex: ALT) announced today the appointment of pharmaceutical marketing and
licensing expert Judith S. Hedstrom as Senior Vice President, Corporate
Development. Ms. Hedstrom will be responsible for Alteon's commercial
development strategy and implementation, critical next steps for lead product
ALT-711.
Ms. Hedstrom joins Alteon from McKinsey & Company, Inc., where she was a leader
in the Pharmaceutical and Medical Products Practice, serving both large and
emerging pharma clients. With over 20 years in the health care industry, Ms.
Hedstrom's expertise is in building the interfaces between R&D, product
development and marketing. She previously served as Vice President of Business
Development at APACHE Medical Systems, and as a Senior Consultant at The
Wilkerson Group, Inc. She began her career in product development at Baxter
International. Ms. Hedstrom holds an M.B.A. in Finance and Marketing and a B.A.
in Chemistry from The University of Chicago.
"Judy Hedstrom brings to Alteon significant experience in the commercial
challenges that face an emerging company, and she provides a critical component
to our future marketing and licensing strategy," said Kenneth I. Moch, President
and Chief Executive Officer of Alteon. "She is highly regarded in her field, and
is a key addition to the Alteon leadership team as we move forward with ALT-711
and work to expand our product pipeline."
About Alteon
Alteon is developing several new classes of drugs that reverse or slow down
diseases of aging and complications of diabetes. These compounds impact a
fundamental pathological process caused by protein-glucose complexes called
Advanced Glycosylation End-products (A.G.E.s). The formation and crosslinking of
A.G.E.s are an inevitable part of the aging process that lead to a loss of
flexibility and function in body tissues, organs and vessels. The company is
initially developing therapies for cardiovascular and kidney diseases in older
or diabetic individuals.
Alteon has created a library of novel classes of compounds targeting the A.G.E.
Pathway. These include A.G.E. Crosslink Breakers, A.G.E. Formation Inhibitors
and Glucose Lowering Agents. The Company's lead A.G.E. Crosslink Breaker ALT-711
is being evaluated in the Phase IIb SAPPHIRE clinical trial focused on systolic
hypertension, and the Phase IIb SILVER trial in systolic hypertension with left
ventricular hypertrophy. The compound is also under Phase I investigation in
end-
stage renal disease patients undergoing peritoneal dialysis, a patient
population that has significant cardiovascular disease. Other A.G.E. compounds
are being evaluated for skin aging, as well as additional human and animal
health indications. For more information on Alteon, visit the company's web site
at http://www.alteonpharma.com.
Any statements contained in this press release that relate to future plans,
events or performance are forward-looking statements that involve risks and
uncertainties including, but not limited to, those relating to 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, ability to obtain financing, and other risks identified in
Alteon's filings with the Securities and Exchange Commission. 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.
* * * * * * *
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Alteon Inc.
By: /s/ Elizabeth O'Dell
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Elizabeth O'Dell
Vice President, Finance
Dated: February 19, 2002