Former Chiron Exec Joins APT Pharmaceuticals as CEO

FOSTER CITY, Calif.--(BUSINESS WIRE)--Sept. 6, 2006--APT Pharmaceuticals Inc. (http://www.aptbio.com) has named the former chief medical officer of Chiron BioPharmaceuticals, Stephen G. Dilly, M.B.B.S., Ph.D., as chief executive officer.

APT is a clinical-stage biopharmaceutical company developing products to treat pulmonary diseases. APT's lead program is examining the potential of inhaled hydroxychloroquine (HCQ), a disease-modifying antirheumatic drug (DMARD) as a steroid-alternative treatment for asthma. In March 2006, APT and Aradigm Corp. in Hayward, Calif., began a 100-patient, 21-day Phase 2 clinical trial in asthmatic patients investigating aerosolized HCQ using Aradigm's AERx(R) pulmonary delivery system.

“Stephen's vast drug-development experience, specifically with drugs to treat respiratory diseases and inflammation, make him the ideal leader for APT”

Dilly brings extensive drug development experience to APT. He previously served as senior vice president, head of development and chief medical officer for Chiron BioPharmaceuticals in Emeryville, Calif., where he was responsible for all clinical, regulatory, development and medical-marketing activities worldwide. Before joining Chiron, Dilly was vice president of development sciences and was vice president for clinical R&D and medical affairs for Genentech in South San Francisco. He also held executive positions with SmithKline Beecham and Pfizer in the United States and the United Kingdom. He has played important roles in the development and approval of numerous drugs including Kytril(R), Requip(R), Kredex(R), Paxil CR(R), Cathflo(R) Activase(R), Raptiva(R), Xolair(R), Avastin(R) and Tarceva(R). Dilly received his medical and doctoral degrees from the University of London in the United Kingdom.

Dilly's hire follows the close of a $9 million Series A financing led by Charter Life Sciences and completes APT's transition from incubation by Research Corporation Technologies (RCT), which took the company from startup through initiation of Phase II trials.

"Stephen's vast drug-development experience, specifically with drugs to treat respiratory diseases and inflammation, make him the ideal leader for APT," said Shaun Kirkpatrick, RCT president and chief executive officer.

APT investors are Charter Life Sciences in Palo Alto, Calif., and Cincinnati, Research Corporation Technologies in Tucson, Ariz., and Vivo Ventures in Palo Alto, Calif.