TKT Also Announces Promotions in Quality, Business Development, and
Manufacturing
CAMBRIDGE, Mass., Sept. 22 /PRNewswire-FirstCall/ -- Transkaryotic
Therapies, Inc. (Nasdaq: TKTX) announced today that David D. Pendergast, Ph.D.
has been promoted from Executive Vice President, Operations to Executive Vice
President and Chief Operating Officer of TKT. In this newly created position,
Dr. Pendergast will have overall responsibility for TKT's research, product
development, manufacturing, and quality functions.
Commenting on the promotion of Dr. Pendergast, Michael J. Astrue,
President and Chief Executive Officer of TKT said, "David has been
instrumental in leading many important changes at TKT including redefining,
rebuilding and implementing new procedures in a wide range of functions. He
projects the drive and ambition we need at TKT, and I know that he will
continue to add great value in all areas of the business in this new role. I
have had the pleasure of working with and knowing David for many years, and it
is an honor for me to have him in this critical position at TKT."
David Pendergast has over 25 years of pharmaceutical and biotechnology
experience. Prior to joining TKT in 2002, he served as Vice President of
Product Development and Quality at Biogen, Inc. Before that he held senior
positions in product development, regulatory affairs and quality at Fisons
Ltd. Pharmaceutical Division and The Upjohn Company. Dr. Pendergast received
a B.A. from Western Michigan University and an M.S. and Ph.D. from the
University of Wisconsin.
TKT also announced today three additional promotions within its quality,
business development, and manufacturing functions. TKT promoted Mr. William
Ciambrone to Vice President, Quality, Ms. Kerry A. Flynn to Vice President,
Business Development, and Mr. Adi Mohanty to Vice President, Manufacturing.
"Each of these talented employees has exhibited integrity and strong
leadership in their functions, and I am delighted to recognize their
achievements at TKT with these promotions," said Mr. Astrue. "Bill, Kerry,
and Adi have each made significant accomplishments at TKT and we look forward
to the contributions they will make in their new roles."
In the position Vice President, Quality, William Ciambrone will be
responsible for the quality organization including the management of quality
assurance, quality control, validation, environmental health and safety, and
quality systems. This promotion recognizes his many contributions in building
a superior quality department and fully integrating the function into TKT's
business operations. Mr. Ciambrone has nearly 15 years experience in quality
assurance for FDA regulated manufacturing as well as pharmaceutical process
controls and validation. Prior to joining TKT in 2001, Mr. Ciambrone was
Director of Quality at North Safety Products, an international health and
safety products manufacturer, where he developed and implemented the corporate
quality system and managed the quality function. Before that he held a quality
assurance and quality control positions at Mallinckrodt Medical. He has a
B.A. in Biology from St. Anselm College.
Kerry Flynn has been promoted from Senior Director, Business Development
to Vice President, Business Development. Ms. Flynn has been instrumental in
the establishment of the business development function within TKT since
joining the company in 2002. She will have overall responsibility for
evaluating strategic business opportunities including out-licensing products
developed using the company's proprietary gene activation and gene therapy
technologies as well as evaluating potential opportunities for in-licensing
products and technologies. Prior to joining TKT, Ms. Flynn was Chief
Intellectual Property Counsel at Cubist Pharmaceuticals, Inc. and Associate
General Counsel at Biogen, Inc. She was also an Intellectual Property
Associate at the law firm of Testa, Hurwitz and Thibeault and the law firm of
Finnegan, Henderson, Farabow, Garrett & Dunner. She is Chair of the Greater
Boston Chapter of the Licensing Executives Society, and an Adjunct Professor
of Law at Boston University Law School. Ms. Flynn has a J.D. from Western New
England College School of Law and a B.A. in Biology from Smith College.
Adi Mohanty joined TKT in 2002 as Senior Director of Manufacturing, where
he played a role in obtaining approval from the European Commission of TKT's
manufacturing facility in Cambridge, Massachusetts in July of this year,
representing the company's first cGMP manufacturing facility. In his new role
as Vice President, Manufacturing, he will have overall responsibility for
TKT's manufacturing operations, which includes the expansion of TKT's
manufacturing plant into a multi-product facility. Before joining TKT, Mr.
Mohanty worked at Baxter Bioscience for twelve years where he held a variety
of engineering and manufacturing positions of increasing responsibility, most
recently as Plant Manager for two cGMP manufacturing facilities. Mr. Mohanty
has a bachelors degree in Chemical Engineering from REC Trichy in India, a
M.S. in Chemical Engineering from Clarkson University and an MBA from St.
Mary's College.
About TKT
TKT is a biopharmaceutical company developing therapeutics for the
treatment of rare genetic diseases caused by protein deficiencies. The company
currently markets one product, Replagal(TM) (agalsidase alfa) for the
treatment of Fabry disease in the European Union and certain other countries.
TKT is headquartered in Cambridge, Massachusetts and has a majority-owned
subsidiary in Sweden, TKT Europe-5S AB, which is responsible for European
sales and marketing activities of Replagal. Additional information on TKT is
available on the company's website at http://www.tktx.com.
This press release contains forward-looking information regarding TKT's
management structure, as well as statements containing the words "believes,"
"anticipates," "plans," "expects," "will," and similar expressions. There are
a number of important factors that could cause the company's actual results to
differ materially from those indicated by such forward-looking statements,
including whether TKT will successfully manage its operations including the
business development, quality and manufacturing functions, and other factors
set forth under the caption "Certain Factors That May Affect Future Results"
in the company's Annual Report on Form 10-Q for the quarter ended June 30,
2003, which is on file with the Securities and Exchange Commission and are
incorporated herein by reference. The company does not undertake any
obligation to update any forward-looking statements.
Replagal(TM) is a trademark of Transkaryotic Therapies, Inc.
CONTACT:
Justine E. Koenigsberg
Director, Corporate Communications
(617) 349-0271
SOURCE Transkaryotic Therapies, Inc.
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http://www.tktx.com
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CONTACT:
Justine E. Koenigsberg, Director, Corporate
Communications of Transkaryotic Therapies, Inc., +1-617-349-0271
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