Seasoned Pharmaceutical Manager to Lead Financial Operations
and Strategic Planning
BERKELEY HEIGHTS, NJ - September 16, 2005 -
Genta Incorporated (NASDAQ: GNTA) announced today the appointment
of Richard J. Moran, CPA, as Senior Vice-President and Chief
Financial Officer (CFO) to succeed William Keane who is resigning
his position effective September 23, 2005. Mr. Moran will also
serve as Corporate Secretary and will have reporting responsibility
for Finance, Manufacturing Operations, and Information Technology.
Mr. Keane has agreed to serve as a consultant to the Company to
ensure a smooth transition.
Dr. Raymond P. Warrell, Jr., Genta's Chairman and Chief
Executive Officer commented: "We are delighted to welcome Dick
Moran to the senior management team at Genta. The extraordinary
breadth and depth of his experience in finance, accounting,
compliance, and business development will be of enormous value to
our achieving the next series of key corporate milestones. On
behalf of the Genta Board, we are extremely grateful to Bill Keane
for his innumerable contributions to the management, growth and
strategic development of Genta, and I am very pleased that he has
agreed to provide his counsel on a continuing basis to our
Company."
Richard J. Moran, CPA
Mr. Moran brings extensive and diversified finance experience
from a long career with Johnson and Johnson (JNJ) and several of
its operating companies. He served as Chief Financial Officer, Vice
President Finance, and member of the U.S.A. Board of Ortho Biotech
from 1995 until 2002, and from 2000 to 2002 he assumed finance
responsibility for the Ortho Biotech Worldwide Board. In that role,
he was responsible for planning, preparation, management,
compliance and controls of the accounting and financial activities
of this $4.4 billion global business unit. From 2002 until his
retirement in 2004, he served as Director Special Projects at JNJ's
Corporate Headquarters, where he was charged with strategic
development and implementation of Sarbanes-Oxley Section #404
compliance requirements at more than 350 worldwide locations with
$45 billion in sales. Mr. Moran previously served as Finance Group
Controller for JNJ's International Cilag, Ortho, McNeil
Pharmaceuticals (ICOM) Group from 1989 to 1994 during the launch of
Eprex® in 50 countries and Procrit® in the U.S., and he served as a
Board member for both Cilag Europe and the ICOM Group. From 1983 to
1988, Mr. Moran was a Director of JNJ's Corporate Internal Audit
Department. Prior to his service at JNJ, Mr. Moran was a Staff
Auditor for Arthur Andersen & Co. Mr. Moran is a member of the
New Jersey Society of Certified Public Accountants, the American
Institute of Certified Public Accountants, and has served as
Chairman of the Board and Treasurer of the American Red Cross of
Somerset County, NJ.
About Genta
Genta Incorporated is a biopharmaceutical company with a
diversified product portfolio that is focused on delivering
innovative products for the treatment of patients with cancer. The
Company's research platform is anchored by two major programs that
center on oligonucleotides (RNA and DNA-based medicines) and small
molecules. Genasense® (oblimersen sodium) Injectio n, the Company's
lead compound from its oligonucleotide program is currently
undergoing late-stage, Phase 3 clinical testing. The leading drug
in Genta's small molecule program is Ganite® (gallium nitrate
injection), which the Company is exclusively marketing in the U.S.
for treatment of patients with cancer-related hypercalcemia that is
resistant to hydration. For more information about Genta, please
visit our website at:
http://www.genta.com/
.
Genta Forward Looking Statement
This press release contains forward- looking statements with
respect to business conducted by Genta Incorporated. By their
nature, forward- looking statements and forecasts involve risks
and uncertainties because they relate to events and depend on
circumstances that will occur in the future. There are a number
of factors that could cause actual results and developme nts to
differ materially. For a discussion of those risks and
uncertainties, please see the Company's Annual Report/Form 10-K
for 2004.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
SOURCE: Genta Incorporated
