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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) July 14, 1999
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ALTEON INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-19529 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)
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Item 5. Other Events.
On July 14, 1999, Alteon Inc. issued the following press
release:
"ALTEON ANNOUNCES THE APPOINTMENT OF
KEN ANDREWS AS SENIOR VICE PRESIDENT OF OPERATIONS
"Ramsey, New Jersey, July 14, 1999 - Alteon Inc. (Nasdaq: ALTN)
announced today the appointment of F. Ken Andrews as Senior Vice
President, Operations. Mr. Andrews has been serving as a consultant
to Alteon in the areas of strategy and business development since
January 1999.
"Prior to joining Alteon, Mr. Andrews was Senior Vice President,
Marketing and Business Development at Ergo Science, a biotechnology
company focused in the fields of diabetes and cardiovascular
medicine. He previously served as Vice President of Marketing and
Sales at Genzyme Corporation, as Senior Vice President of U.S.
Operations at Seikagaku Corporation, and as Vice President of Sales
at Centocor.
"'Ken Andrews is a seasoned pharmaceutical executive with
significant experience in the clinical development, sales,
marketing and business development challenges that face an emerging
biotech company.' said Kenneth I. Moch, President and Chief
Executive Officer of Alteon. 'His skills are invaluable to Alteon's
moving forward with pimagedine and ALT-711, the most advanced
compounds based on our A.G.E. technology. Additionally, Ken's
expertise adds great value to ongoing discussions with potential
corporate partners for these compounds.'
"Alteon is a leader in the discovery and development of
pharmaceutical products for the treatment of the complications of
diabetes and age-related diseases. Alteon's proprietary technology
focuses on Advanced Glycosylation End-products, or A.G.E.s, formed
as a result of circulating blood glucose reacting with proteins.
A.G.E.s have been shown to be a causative factor in many of the
complications of diabetes and age-related diseases, including
kidney disease, nerve damage, atherosclerosis and retinopathy.
Alteon's approach is to inhibit or break A.G.E.s or their chemical
crosslinks, thereby potentially impacting such disease states. The
company is seeking a corporate partner to help fund the continued
development of its A.G.E.-formation inhibitor, pimagedine, based on
the results of the Phase III trial of pimagedine in Type 1 diabetic
patients with progressive kidney disease. Alteon's lead A.G.E.
crosslink breaker, ALT-711, has completed a series of Phase I human
clinical trials and is expected to enter Phase II trials in 1999.
Alteon is also pursuing the development of a novel series of
glucose lowering agent (GLA) 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 Alteon's filings with the Securities and Exchange
Commission. Actual results, events or performances 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.
"This press release is also available at
http://www.alteonpharma.com
"'Safe Harbor' Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding
Alteon Inc.'s business which are not historical facts are 'forward-looking
statements' that involve risks and uncertainties. For a
discussion of such risks and uncertainties, which could cause
actual results to differ from those contained in the forward-looking
statements, see 'Risk Factors' in the Company's Annual
Report or Form 10-K for the most recently ended fiscal year."
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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/ Kenneth I. Moch
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Kenneth I. Moch
President and
Chief Executive Officer
Date: July 20, 1999
