GLFD Guilford Pharmaceuticals (MM)

Guilford Pharmaceuticals Appoints William F. Spengler as Chief Financial Officer BALTIMORE, June 28 /PRNewswire-FirstCall/ -- Guilford Pharmaceuticals Inc. (NASDAQ:GLFD) today announced the appointment of William F. Spengler as Executive Vice President and Chief Financial Officer. Mr. Spengler will report to Craig R. Smith, M.D., Chairman, President and Chief Executive Officer of Guilford; his appointment is effective July 15, 2004. "We are very pleased to bring Bill on board at this important time in the Company's development," commented Dr. Smith. "Bill is an experienced financial executive with expertise in emerging, entrepreneurial companies and mature, established corporations, He brings outstanding technical expertise in finance and accounting, as well as broad management capabilities and a strategic financial perspective that will be vitally important to our strategic planning process. Bill will also work closely with me to provide a consistent and strong voice in our relationships with the investment community." "I am very enthusiastic about joining Guilford at this dynamic time in the Company's history," commented Mr. Spengler. "With two marketed products and a strong development pipeline with results from up to thirteen clinical trials expected by the end of next year, Guilford is poised for tremendous growth. I look forward to contributing to the Company's success." Mr. Spengler served fourteen years at Bristol-Myers Squibb (BMS) Corporation, where he was responsible for overseeing mergers and acquisitions and the development of joint venture relationships. Subsequently Mr. Spengler served as Vice President of Finance at The Black & Decker Corporation and was responsible for the financial management of its largest products group with $1.4 billion in annual sales. Most recently Mr. Spengler has served as President, COO and Director of Osteoimplant Technology, Inc. Mr. Spengler received his MBA degree in accounting from New York University and a BA in economics at Yale University. From time to time, Mr. Spengler has been a lecturer at Yale University Grad School of Organization and Management and the University of Pennsylvania Law School. About Guilford Guilford Pharmaceuticals Inc. is a pharmaceutical company engaged in the research, development and commercialization of products that target the hospital market. Presently, Guilford markets two commercial products, GLIADEL(R) Wafer (polifeprosan 20 with carmustine implant), for the treatment of brain cancer, and AGGRASTAT(R) Injection (tirofiban hydrochloride), a glycoprotein GP IIb/IIIa receptor antagonist used for the treatment of acute coronary syndrome (ACS). Guilford's product pipeline includes a novel anesthetic, AQUAVAN(R) Injection. For additional information about GLIADEL(R) Wafer, please visit http://www.guilfordpharm.com/ under Products / Marketed Products / GLIADEL; and for AGGRASTAT(R), please see http://www.aggrastat.com/. This press release contains forward-looking statements that involves risks and uncertainties, including those described in the section entitled "Risk Factors" contained in the Company's Annual Report on Form 10-Q filed with the SEC on May 10, 2004, and in the Company's Current Report on Form 8-K filed with the SEC on June 21, 2004, that could cause the Company's actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Among other things, there can be no assurance that the Company's clinical trials will be successful and if successful those clinical trials will result in the company's products being approved for commercial use by regulatory authorities under applicable laws. Contact: Stacey Jurchison, Director, Corporate Communications 410.631.5022 Internet Address: http://www.guilfordpharm.com/ DATASOURCE: Guilford Pharmaceuticals Inc. CONTACT: Stacey Jurchison, Director, Corporate Communications of Guilford Pharmaceuticals Inc., +1-410-631-5022 Web site: http://www.guilfordpharm.com/ http://www.aggrastat.com/ Company News On-Call: http://www.prnewswire.com/comp/112882.html

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