APHT Aphton (MM)

Aphton Corporation (NASDAQ:APHT) today announced the appointment of Manfred Ruediger, Ph.D. to the newly created position of Executive Vice President and Chief Operating Officer. Dr. Ruediger will focus on business development, intellectual property, manufacturing and project management. He will also be responsible for helping to develop and implement strategies recently adopted by Aphton as part of its evolution as a global oncology company. Dr. Ruediger will also serve as a member of Aphton's Board of Directors. "We are very pleased to appoint Manfred to the position of Chief Operating Officer and we look forward to his contributions to both the management team and to the board," commented Patrick Mooney, M.D. Chairman and CEO of Aphton. "With more than 15 years in academia and industry, Manfred has extensive experience in research, development and operations. He is a seasoned biotech executive with a proven ability to build and organize teams around specific development goals." Dr. Ruediger served as Chief Executive Officer and Managing Board Member of Igeneon AG ("Igeneon"), a clinical stage biopharmaceutical company located in Vienna, Austria. Aphton acquired Igeneon in March 2005 to broaden Aphton's product portfolio and create a global oncology company. Before being appointed Chief Executive Officer of Igeneon, Dr. Ruediger served as Igeneon's Chief Operating Officer. Prior to joining Igeneon, Dr. Ruediger held various executive positions at Cardion AG, a biotechnology company, including the positions of Executive Vice President, Chief Scientific Officer and acting Chief Executive Officer, where he was responsible for both in-licensing and out-licensing with leading biotech and pharma companies. Dr. Ruediger holds a Ph.D. degree in biochemistry and protein chemistry from the University of Tuebingen, Germany, and was assistant professor at Technical University of Braunschweig, Germany. Strategic Pipeline Aphton continues to focus its efforts on broadening and making progress in its research and development pipeline. An important element of this strategy is the addition of Igeneon's products, IGN101, a cancer vaccine designed to induce an immune response against EpCAM positive tumor cells, and IGN311, a fully humanized antibody against the Lewis Y antigen. Aphton also has a diverse pipeline of pre-clinical and clinical products including active and passive immunotherapies. Aphton believes that immunotherapies may have certain advantages over other targeted therapies by including specificity that may lead to better efficacy and decreased toxicities for patients. About Aphton Aphton Corporation, headquartered in Philadelphia, Pennsylvania is a clinical stage biopharmaceutical company focused on developing targeted immunotherapies for cancer. Aphton's products seek to empower the body's own immune system to fight disease. Through the acquisition of Igeneon AG in March 2005, Aphton acquired late-stage products, IGN101, a cancer vaccine designed to induce an immune response against EpCAM positive tumor cells, and IGN311, a fully humanized antibody against the Lewis Y antigen. Aphton is currently seeking partners that will support the further development of Insegia (G17DT immunogen), its immunogen targeting the hormone gastrin. Aphton has strategic alliances with sanofi-aventis for the development and commercialization of Insegia related to cancers of the gastrointestinal system and other cancers in North America and Europe; Daiichi Pure Chemicals for the development, manufacturing and commercialization of gastrin-related diagnostic kits; and Xoma for treating gastrointestinal and other gastrin-sensitive cancers using anti-gastrin monoclonal and other antibodies. For more information about Aphton or its programs please visit Aphton's website at http://www.aphton.com. Safe Harbor This press release includes forward-looking statements, including statements about: (1) Aphton's belief regarding the strength of Igeneon's product portfolio and such portfolio's ability to complement Aphton's product portfolio; (2) Aphton's intent to broaden and progress its research and development pipeline; (3) Aphton's belief that immunotherapies have certain advantages over targeted therapies; (4) Aphton's expectation regarding the purpose and effectiveness of IGN101 and IGN311; and (5) Aphton's ability to find a viable partner to financially support the further development of Insegia. These forward-looking statements may be affected by the risks and uncertainties inherent in the drug development process and in Aphton's business. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in Aphton's Securities and Exchange Commission filings, including Aphton's report on Form 10-K filed with the Commission on March 16, 2005. Aphton wishes to caution readers that certain important factors may have affected and could in the future affect Aphton's beliefs and expectations and could cause the actual results to differ materially from those expressed in any forward-looking statement made by or on behalf of Aphton. These risk factors include, but are not limited to, (1) Aphton's ability to fund the further development of its research and development, (2) Aphton's ability to successfully identify and consummate opportunities to broaden and progress its research and development pipeline, (3) scientific developments regarding immunotherapies, (4) Aphton's ability to successfully integrate Igeneon's operations and product portfolio with Aphton's operations and product portfolio, and (5) the actual design, results and timing of preclinical and clinical studies for both companies' products and product candidates.