SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
_____________________________
Date of report (Date of earliest event reported) June 11, 1997
ALTEON INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-19529 13-3304550
(State or Other Juris- (Commission (I.R.S. Employer
diction of Incorporation) File Number) Identification No.)
170 Williams Drive, Ramsey, New Jersey 07446
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (201) 934-5000
(Former Name or Former Address, If Changed Since Last Report)
Item 5. Other Events.
A. On June 11, 1997 Alteon Inc. issued the following press
release relating to the election to its Board of Directors of
David McCurdy:
Alteon Appoints Dave McCurdy to Board of Directors
RAMSEY, N.J., June 11/PRNewswire/ -- Alteon Inc. (Nasdaq:
ALTN) announced today the appointment of David McCurdy to the
Company's Board of Directors, filling a vacancy created by the
retirement of Louis Fernandez, Ph.D., and bringing the number of
board members to eight. Mr. McCurdy is currently Chairman of the
McCurdy Group LLC, a business consulting and investment firm
focused on high-growth companies in the fields of healthcare, high
technology and international business. Prior to forming the
McCurdy Group, he served for fourteen years in the US House of
Representatives from the fourth district of Oklahoma.
Elected to Congress in 1980, Mr. McCurdy held a series of
senior positions in a number of committees and congressional
forums, including: Chairman of the House Intelligence Committee,
Chairman of the Military Installations and Facilities subcommittee
of the House Armed Services Committee, and Chairman of the
Transportation, Aviation and Materials subcommittee of the Science
and Space Committee. He was the youngest person to ever chair a
full committee -- the House Intelligence Committee. He was also a
co-founder and the national chairman of the Democratic Leadership
Council and remains both an active member of the DLC and its policy
formation group, the Progressive Policy Institute. He also chaired
the Mainstream Forum, the Congressional Sunbelt Caucus and founded
the Congressional Army Caucus. In recognition of his outstanding
leadership qualities he was selected as one of the Ten Outstanding
Young Men in America and received the highest awards from the Air
Force Association and the Association of the United States Army.
McCurdy has an extensive background in healthcare and
technology policy. In addition to serving as a consultant to over
a dozen healthcare and high technology companies, Mr. McCurdy is a
partner in the Switzer Group, an organization that invests in, owns
and operates medical and healthcare facilities in the U.S. and Asia.
"Dave McCurdy is a proven strategic thinker. He also brings
to Alteon an in-depth knowledge of the political and public policy
arenas as well as insights into healthcare business on both the
domestic and international fronts," said James J. Mauzey, Chairman
and Chief Executive Officer. "We are extremely pleased to appoint
him to our Board of Directors."
"I am pleased to join the board of a company committed to the
discovery and development of products for the treatment of the
complications of the widespread, debilitating and costly disease of
diabetes," said Mr. McCurdy. "Alteon's products have the potential
to improve the lives of millions of people. I have found the team
at Alteon to be highly motivated, ethical and caring professionals."
Alteon is a leader in the discovery and development of
pharmaceutical products for the treatment of the complications of
diabetes and age-related diseases. The Company is actively
developing its lead first-in-class compound, pimagedine, to inhibit
or block abnormal glucose/protein complexes that lead to diabetic
complications such as kidney disease and dyslipidemia. Three
clinical trials evaluating pimagedine for complications of diabetes
are ongoing, including the two pivotal Phase III ACTION trials for
diabetic kidney disease. These ACTION trials are being conducted
at more than 100 North American clinical sites and involve over
1,200 patients. In addition, Alteon is pursuing potential
indications of pimagedine for the treatment of various inflammatory
conditions, and is continuing its research on A.G.E. cross-link
breakers and the glucose lowering agent (GLA) series of compounds.
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, regulatory
approval processes, intellectual property rights and litigation,
competitive products, ability to obtain financing and other risks
identified in the company's filings with the Securities and
Exchange Commission. Actual results, events or performances may
differ materially. The company undertakes no obligation to
publicly release the results of any revisions 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.
B. On June 18, 1997 Alteon Inc. and IDEXX Laboratories, Inc. issued
the following press release relating to an animal health agreement
entered into by the two companies:
Alteon and IDEXX Sign Animal Health Agreement
RAMSEY, N.J. and WESTBROOK, Maine, June 18 /PRNewswire/ --
Alteon Inc. (Nasdaq: ALTN) and IDEXX Laboratories, Inc. (Nasdaq:
IDXX) announced today that they have entered into an agreement to
license to IDEXX Alteon's lead compound, pimagedine, as a potential
therapeutic in companion animals (dogs, cats, horses). IDEXX has
also licensed Alteon's A.G.E. diagnostics technology for companion
animal use.
Pimagedine, a compound believed to inhibit the chemical events
leading to the complications of diabetes and aging, is currently in
its fourth year of human testing as a potential treatment for
kidney disease in diabetic patients. Pimagedine has also shown
preclinical activity as an anti-inflammatory agent.
IDEXX will initially focus on the development of oral
pimagedine as a therapeutic for the complications of diabetes
and/or aging in companion animals, and the development of topical
pimagedine for use in the treatment of dermatitis. Diagnostic
products for use in companion animal applications will also be
developed.
Under the agreement, IDEXX will be responsible for the
development, licensing and marketing of pimagedine and A.G.E.
diagnostics for such use on a worldwide basis. Alteon will receive
milestone payments and royalties on sales of the licensed
products.
"This new relationship with Alteon is another important step
in our veterinary pharmaceutical effort which was initiated last
year. We believe pimagedine has significant market potential and
we will be initiating development efforts shortly. We are also
exploring a number of other pharmaceutical opportunities targeted
primarily at the companion animal market," said David Shaw, IDEXX
Chairman and Chief Executive Officer.
"We are pleased to enter into this association with IDEXX, and
to expand pimagedine's potential use to an entirely new market,"
said James J. Mauzey, Alteon Chairman and Chief Executive Officer.
IDEXX Laboratories, Inc. is a world leader in diagnostic and
detection systems for veterinary, food and environmental applications.
The Company also operates an international network of veterinary laboratories
and is a leader in the veterinary practice management software market.
Headquartered in Westbrook, Maine, IDEXX employs more than 1,500 people and
offers over 350 products to customers in more than 50 countries.
Alteon is a leader in the discovery and development of
pharmaceutical products for the treatment of the complications of
diabetes and age-related diseases. The Company is actively
developing its lead first-in-class compound, pimagedine, to inhibit
or block abnormal glucose/protein complexes that lead to diabetic
complications such as kidney disease and dyslipidemia. Three
clinical trials evaluating pimagedine for complications of diabetes
are ongoing, including the two pivotal Phase III ACTION Trials for
diabetic kidney disease. These ACTION trials are being conducted
at more than 100 North American clinical sites and involve over
1,200 patients. In addition, Alteon is pursuing potential
indications of pimagedine for the treatment of various inflammatory
conditions, and is continuing its research on A.G.E. cross-link
breakers and the glucose lowering agent (GLA) series of compounds.
Any statements contained in this press release that relate to
IDEXX's or Alteon's 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, regulatory approval processes, intellectual
property rights and litigation, competitive products, ability to
obtain financing and other risks identified in the Companies'
filings with the Securities and Exchange Commission. Actual
results, events or performances may differ materially. The
Companies undertake no obligation to publicly release the result of
any revisions 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.
SIGNATURE
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/ James J. Mauzey
-----------------------
James J. Mauzey
Chairman and
Chief Executive Officer
Date: June 23, 1997
