CAMBRIDGE, Mass., Sept. 18 /PRNewswire/ -- Peptimmune, Inc. a privately
held biotechnology company, announced that Fredric D. Price has been
appointed Executive Chairman of the Board of Directors. Mr. Price brings
more than 30 years of biotechnology and pharmaceuticals industry experience
to the company, including 13 years as CEO and/or Chairman of publicly
traded firms.
Mr. Price is currently Chairman of the Board of Directors of New York-
based Omrix Biopharmaceuticals (Nasdaq: OMRI), a member of the Board of
Directors of Pharmasset (Nasdaq: VRUS), located in Princeton, New Jersey
and a member of the Board of Directors of Enobia, a privately held
biotechnology company in Montreal, Quebec; he will continue in these
positions. Previously, Mr. Price was Chairman and CEO of BioMarin
Pharmaceutical and President and CEO of Applied Microbiology.
Thomas P. Mathers, Peptimmune's President and CEO, said, "We are
delighted to welcome Fred to lead our Board, as his extensive experience in
all aspects of management of biotech companies is an important resource for
the Company at this critical time, when we are poised to initiate our third
clinical development program using peptide therapy for the treatment of
multiple sclerosis and other autoimmune diseases."
Mr. Price added, "Being able to participate in the management of a firm
that is undertaking development of products with promise to treat patients
with multiple sclerosis is a privilege. I look forward to working with Tom,
his management team and the Board of Directors towards the common goals of
improved patient outcomes and increased shareholder value."
Board reorganization
The company also announced that the Board of Directors has been reduced
to five members: Mr. Mathers; Mr. Price; John Brooks, III, General Partner,
Prism VentureWorks; Luke Evnin, Ph.D., General Partner, MPM Capital; and M.
James Barrett, Ph.D., General Partner, New Enterprise Associates.
Mr. Mathers said, "Now that our lead product for multiple sclerosis is
entering the clinic, it is appropriate to add to the leadership team and to
restructure the Board of Directors. I want to express my sincere
appreciation to the following departed members of the Board of Directors:
independent Directors Robert Carpenter, Dr. Hugh Rienhoff, Dr. Alan Walts,
and David McLachlan; and Dr. Robert Ulrich, General Partner, Vanguard
Ventures. Their dedication and support has been important to the company as
it has emerged from a research stage enterprise to the clinical development
organization it is currently."
About Fredric D. Price
Prior to his current Board responsibilities, Fredric Price was Chairman
of the Board of Directors and CEO of BioMarin Pharmaceutical and President,
CEO and a member of the Board of Directors of Applied Microbiology. As
Chairman and/or CEO, he has raised $500 million in a variety of securities
transactions, built FDA approved facilities and had drugs approved in the
U.S. as well as in international markets. His earlier experience includes
having been Vice President of Finance and Administration and CFO of
Regeneron Pharmaceuticals, the founder of the strategy consulting firm
RxFDP, and Vice President of Pfizer Pharmaceuticals with both line and
staff responsibilities. Mr. Price is a co-inventor of 12 issued U.S.
patents and one U.S. patent application. He received a B.A. from Dartmouth
College and an M.B.A. from the Wharton School of the University of
Pennsylvania.
About Peptimmune
Peptimmune, Inc. is a privately held clinical stage biotechnology
company focused on the development of peptide therapies to improve the
management of chronic autoimmune and inflammatory disorders. The Company is
in clinical development with second-generation therapeutics that are
expected to result in safer and more effective products for multiple
sclerosis and pemphigus vulgaris. Current investors include New Enterprise
Associates, MPM Capital, Prism Venture Partners, Vanguard Ventures, Hunt
Ventures, Boston Medical Investors, Silicon Valley Bank Capital, Itochu
Corporation, and Genzyme Corporation. For additional information, access
our website at http://www.peptimmune.com.
SOURCE Peptimmune, Inc.
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Related links:
http://www.peptimmune.com
CONTACT:
Dustan Bonnin of Peptimmune, Inc., +1-617
715-8043, dustan.bonnin@peptimmune.com
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