GPC Biotech Restructures

GPC Biotech AG is restructuring and will reduce its U.S. staff by 46 employees (approximately 15%) with reductions in the commercialization, drug development and general and administrative groups. The company also announced that Martine George, M.D. will succeed Marcel Rozencweig, M.D. as senior vice president, drug development and chief medical officer and will assume leadership of the company’s drug development team. Dr. Rozencweig will assume the position of senior vice president, clinical science and drug evaluation to focus on new drug development in-licensing opportunities.

Bernd R. Seizinger, M.D., Ph.D., chief executive officer, said, “The decision to reduce staff has been a very difficult one to make, particularly since we have been able to build and grow such stellar teams. However, these decisions were necessary as we focus on moving the company forward and planning for our future.”

Dr. Seizinger remarked that GPC will “intensify efforts to in-license promising compounds” and also plans to re-file its NDA for cancer treatment satraplatin.

Dr. George joined the company as senior vice president, clinical development in the spring of 2006 with more than 15 years of experience at major pharmaceutical companies, as well as several years in an academic position as a medical oncologist. Prior to joining the company, Dr. George was senior vice president, head of oncology at Johnson & Johnson Pharmaceutical Research and Development. Previously, she held a number of executive positions in the areas of clinical and medical affairs, including at Rhone-Poulenc Rorer (now part of Sanofi-Aventis), Sandoz Pharmaceuticals (now Novartis) and American Cyanamid (now Wyeth).

The company plans to reduce certain ongoing activities and will halt further financial commitments to its 1D09C3 monoclonal antibody and cell cycle inhibitors programs. The company plans to continue ongoing satraplatin trials, including the SPERA expanded access program.