Spectrum Pharmaceuticals Appoints Lee F. Allen, M.D., Ph.D., Industry
Veteran, as Chief Medical Officer
*Dr. Allen is a hematologist/oncologist with a strong track record in drug
*He joins Spectrum from AMAG Pharmaceuticals, Inc., where he had broad
strategic and leadership roles as Chief Medical Officer, heading clinical
development, medical affairs and regulatory efforts resulting in the
successful approval of an anemia drug in the U.S. and other countries.
*He also oversaw oncology therapeutic development at Wyeth’s largest
research site, successfully advancing a portfolio of 13 compounds.
*Previously at Pfizer, he contributed to the establishment of Oncology as a
new therapeutic area and was responsible for clinical development of
Pfizer’s small molecule oncology portfolio.
HENDERSON, Nev. -- March 18, 2013
Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully
integrated commercial and drug development operations with a primary focus in
hematology and oncology, today announced the appointment of Lee F. Allen,
M.D., Ph.D., as Chief Medical Officer. Dr. Allen will be responsible for
leading the clinical development of Spectrum’s product pipeline, including
belinostat, for which the Company anticipates an NDA filing mid-year,
apaziquone, and glycol-free formulation of melphalan for both of which the NDA
filings are expected in 2014. Dr. Allen brings over 15 years of biotech and
pharma experience, as well as over 10 years of extensive research experience
with over 40 papers published. He will report to Ken Keller, Executive Vice
President and Chief Operating Officer. Spectrum also announced today that Dr.
Steve Fruchtman, previously Chief Medical Officer at Spectrum, will take on
the new role of Senior Vice President, Hematology and Oncology R&D, as of
March 18, 2013. In this newly created position, he will report directly to Dr.
"We are pleased to announce the appointments of Lee Allen as Chief Medical
Officer and Steve Fruchtman as head of hematology and oncology R&D," said
Rajesh C. Shrotriya, M.D., Chairman, President and Chief Executive Officer of
Spectrum Pharmaceuticals, Inc. "Lee Allen has had a distinguished career in
industry, including leadership positions at both Wyeth and Pfizer where he
successfully advanced these companies’ respective oncology portfolios. He also
is a hematologist and oncologist, and will be intimately involved with the
advancement of belinostat, apaziquone and melphalan as these product
candidates near NDA filing. Steve Fruchtman has been key to our success in
advancing our focused pipeline.”
"I am very excited to join Spectrum, which I believe has a very promising
portfolio of late-stage compounds," said Dr. Allen. "The Company has the
prospect of being able to introduce two to three new anti-cancer products by
2015 or 2016, including a propylene glycol-free formulation of melphalan
recently acquired by the Company for which an NDA filing is anticipated in the
first half of 2014. I am eagerly looking forward to working with the Spectrum
team in bringing these important treatments to cancer patients as quickly as
Prior to joining Spectrum, Dr. Lee F. Allen served as Chief Medical Officer
and Executive Vice President at AMAG Pharmaceuticals, where he led the
Company's clinical development, medical affairs and regulatory activities.
Previously, he held senior leadership roles at Wyeth Pharmaceuticals, serving
as Vice President of Clinical Research and Development for the Oncology
Therapeutic Area and as the Cambridge Clinical Site Head. Before joining
Wyeth, he held positions of increasing responsibility at Pfizer and BASF's
Knoll Pharmaceuticals. Prior to entering the pharmaceutical industry, he was a
faculty member at Duke University Medical Center and at the University of
Utah’s Huntsman Cancer Institute. Dr. Allen received his Ph.D. and M.D.
degrees from the University of Medicine and Dentistry of New Jersey, and
trained as a post-doctoral fellow studying signal transduction pathways in the
laboratory of Nobel Laureate, Dr. Robert J. Lefkowitz. His work has been
published in scientific journals including the Proceedings of the National
Academy of Sciences, Nature and Science.
About Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals is a leading biotechnology company focused on
acquiring, developing, and commercializing drug products, with a primary focus
in oncology and hematology. Spectrum and its affiliates market three oncology
drugs ─ FUSILEV^® (levoleucovorin) for Injection in the U.S.; FOLOTYN^®
(pralatrexate injection), also marketed in the U.S.; and ZEVALIN^®
(ibritumomab tiuxetan) Injection for intravenous use, for which the Company
has worldwide marketing rights. Spectrum's strong track record in in-licensing
and acquiring differentiated drugs, and expertise in clinical development have
generated a robust, diversified, and growing pipeline of product candidates in
advanced-stage Phase 2 and Phase 3 studies. More information on Spectrum is
available at www.sppirx.com.
Forward-looking statement — This press release may contain forward-looking
statements regarding future events and the future performance of Spectrum
Pharmaceuticals that involve risks and uncertainties that could cause actual
results to differ materially. These statements are based on management's
current beliefs and expectations. These statements include, but are not
limited to, statements that relate to our business and its future, including
certain company milestones, Spectrum's ability to identify, acquire, develop
and commercialize a broad and diverse pipeline of late-stage clinical and
commercial products, leveraging the expertise of partners and employees around
the world to assist us in the execution of our strategy, and any statements
that relate to the intent, belief, plans or expectations of Spectrum or its
management, or that are not a statement of historical fact. Risks that could
cause actual results to differ include the possibility that our existing and
new drug candidates may not prove safe or effective, the possibility that our
existing and new applications to the FDA and other regulatory agencies may not
receive approval in a timely manner or at all, the possibility that our
existing and new drug candidates, if approved, may not be more effective,
safer or more cost efficient than competing drugs, the possibility that our
efforts to acquire or in-license and develop additional drug candidates may
fail, our lack of sustained revenue history, our limited marketing experience,
our dependence on third parties for clinical trials, manufacturing,
distribution and quality control and other risks that are described in further
detail in the Company's reports filed with the Securities and Exchange
Commission. We do not plan to update any such forward-looking statements and
expressly disclaim any duty to update the information contained in this press
release except as required by law.
SPECTRUM PHARMACEUTICALS, INC.^®, FUSILEV^®, FOLOTYN^®, and ZEVALIN^® are
registered trademarks of Spectrum Pharmaceuticals, Inc. and its affiliates.
REDEFINING CANCER CARE^™ and the Spectrum Pharmaceuticals logos are trademarks
owned by Spectrum Pharmaceuticals, Inc.
© 2013 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
Shiv Kapoor, 702-835-6300
Vice President, Strategic Planning & Investor Relations
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