Alteon Announces New Independent Registered Public Accounting Firm
August 31 2004 - 3:00PM
PR Newswire (US)
Alteon Announces New Independent Registered Public Accounting Firm
PARSIPPANY, N.J., Aug. 31 /PRNewswire-FirstCall/ -- Alteon Inc.
(AMEX:ALT) today announced the hiring of J.H. Cohn LLP as its new
independent registered public accounting firm and auditors,
effective August 26, 2004. Founded in 1919, J.H. Cohn is the 13th
largest accounting firm in the United States and the largest
regional firm in the Northeast, as well as the 4th largest
accounting firm in New Jersey based on the number of professionals.
The firm has over 90 partners and a staff of over 600 individuals
located in offices in New York, New Jersey and California. "J.H.
Cohn has a strong reputation within the accounting profession, and
we are pleased to be entering into a relationship with them," said
Kenneth I. Moch, Alteon's President and CEO. About Alteon Alteon is
developing several new classes of drugs that reverse or slow down
diseases of aging and complications of diabetes. These compounds
have an impact on a fundamental pathological process caused by
protein-glucose complexes called Advanced Glycation End-products
(A.G.E.s). The formation and crosslinking of A.G.E.s lead to a loss
of flexibility and function in body tissues, organs and vessels and
have been shown to be a causative factor in many age-related
diseases and diabetic complications. Alteon has created a library
of novel classes of compounds targeting the A.G.E. Pathway.
Alteon's lead compound alagebrium chloride (formerly ALT-711), the
only A.G.E. Crosslink Breaker in advanced human testing, has
demonstrated safety and efficacy in several Phase 2 trials and is
actively being developed for systolic hypertension and heart
failure. Ongoing clinical trials include SPECTRA (Systolic Pressure
Efficacy and Safety Trial of Alagebrium) and PEDESTAL (Patients
with Impaired Ejection Fraction and Diastolic Dysfunction: Efficacy
and Safety Trial of ALagebrium). For more information on Alteon,
visit the company's website at http://www.alteon.com/. 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 (including the
possibility that early clinical trial results may not be predictive
of results that will be obtained in large-scale testing or that any
clinical trials will not demonstrate sufficient safety and efficacy
to obtain requisite approvals or will not result in marketable
products), 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. The information contained in
this press release is accurate as of the date indicated. Actual
results, events or performance 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. DATASOURCE: Alteon Inc.
CONTACT: Susan M. Pietropaolo, Director, Corporate Communications
& Investor Relations of Alteon, +1-201-818-5537 Web site:
http://www.alteon.com/
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