- Former President and CEO of Incyte Corporation Brings Extensive R&D
and Biotech Experience -
NEW HAVEN, Conn.--(BUSINESS WIRE)--
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced that Paul A.
Friedman, M.D. has been appointed to serve on the Company's Board of
Directors, succeeding R. Douglas Norby, who has retired as a Director
following 18 years of service to the Company. Alexion also announced
that Director Alvin S. Parven advised the Board that he does not plan to
stand for re-election at the Company's next annual meeting of
shareholders following 18 years of service as an Alexion director.
Alexion's Board of Directors has retained Spencer Stuart to conduct a
search for an additional new Director.
Dr. Friedman is a well-known and highly-respected veteran of the biotech
industry with deep experience in research, and both early and late
clinical development. Over his more than 40-year career, Dr. Friedman
has established a strong track record of building and leading R&D
organizations, successfully expanding their pipelines of assets,
overseeing the commercial development of innovative therapeutic products
across a range of areas, and building shareholder value.
Dr. Friedman served as President and Chief Executive Officer of Incyte
Corporation, a leading biopharmaceuticals company, from 2001-2014 where
he led a transformation of the business from genomics to a therapeutic
focus establishing its foundation as a leader in oncology. He continues
to serve on Incyte's Board of Directors. Currently, Dr. Friedman serves
as Chairman and Chief Executive Officer of Madrigal Pharmaceuticals,
Inc., following its merger with Synta Pharmaceuticals Corporation in
July 2016. Earlier in his career, Dr. Friedman held executive and R&D
positions with DuPont Pharmaceuticals Research Laboratories, Merck
Research Laboratories and Merck Sharp & Dohme Corporation. Dr. Friedman
received his M.D. from Harvard Medical School and his B.S. in Biology
from Princeton University.
David Brennan, Chairman of the Board, commented, "We are very pleased to
welcome Dr. Friedman to the Alexion Board of Directors. Paul's R&D
expertise, executive experience, and extensive biotech background will
be highly valuable as we continue to add directors with highly relevant
experience, and as we execute on our refocused strategy to position
Alexion for its next phase of growth under our new management team. As
we welcome Paul onto the Board, we also want to express our deep
appreciation to Doug Norby for his many contributions to Alexion during
his tenure as a director, including serving as our lead independent
director for a number of years. We also want to thank Al Parven for his
18 years of service and contributions while serving on Alexion's Board.
We wish Doug and Al all the best."
Dr. Friedman added, "Alexion is an exciting company with significant
strengths to build upon as the Company grows its rare disease business
and focuses on expanding its pipeline through both internal innovation
in complement and external R&D opportunities to deliver future growth. I
look forward to contributing to Alexion's future as a member of the
Board of Directors."
Alexion is a global biopharmaceutical company focused on developing and
delivering life-transforming therapies for patients with devastating and
rare disorders. Alexion is the global leader in complement inhibition
and has developed and commercializes the first and only approved
complement inhibitor to treat patients with paroxysmal nocturnal
hemoglobinuria (PNH), atypical hemolytic uremic syndrome (aHUS), and
refractory generalized myasthenia gravis (gMG). In addition, Alexion has
two highly innovative enzyme replacement therapies for patients with
life-threatening and ultra-rare metabolic disorders, hypophosphatasia
(HPP) and lysosomal acid lipase deficiency (LAL-D). As the leader in
complement biology for over 20 years, Alexion focuses its research
efforts on novel molecules and targets in the complement cascade, and
its development efforts on the core therapeutic areas of hematology,
nephrology, neurology, and metabolic disorders. This press release and
further information about Alexion can be found at: www.alexion.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements often include words such as "anticipate,"
"believe," "expect," "will," or similar expressions. Forward-looking
statements are subject to factors that may cause Alexion's results and
plans to differ from those expected, including the risks set forth from
time to time in Alexion's filings with the U.S. Securities and Exchange
Commission, including but not limited to the risks discussed in
Alexion's Quarterly Report on Form 10-Q for the period ended June 30,
2017 and in our other filings with the U.S. Securities and Exchange
Commission. Alexion does not intend to update any of these
forward-looking statements to reflect events or circumstances after the
date hereof, except when a duty arises under law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170914006388/en/
Executive Director, Corporate Communications
Ridloff, CFA, 475-230-3601
Vice President, Investor Relations
Director, Investor Relations
Source: Alexion Pharmaceuticals, Inc.
News Provided by Acquire Media