Navidea Announces Rick Gonzalez as New Chief Executive Officer
October 15 2014 - 8:00AM
Business Wire
Navidea Biopharmaceuticals, Inc. (NYSE MKT:NAVB), a
biopharmaceutical company focused on precision diagnostic
radiopharmaceuticals, today announced that Rick Gonzalez has been
appointed Chief Executive Officer effective October 13, 2014. Mr.
Gonzalez has more than 20 years of experience in the pharmaceutical
industry, and most recently served as Vice President, Global
Operations at Spectrum Pharmaceuticals, a biotechnology company
focused in oncology and hematology.
Rick Gonzalez, Navidea
Biopharmaceuticals' CEO (Photo: Business Wire)
“It is with great pleasure that Navidea welcomes Rick Gonzalez
as the new Chief Executive Officer,” said Gordon Troup, Chairman of
the Board of Navidea. “Rick brings an impressive depth of global
commercial, operational and leadership experience in the
biotechnology field including oncology and radiotherapy, which are
highly relevant to Lymphoseek®. His extensive expertise across all
aspects of product commercialization together with his proven track
record of success will be invaluable to the growth of the Company
as we continue to advance the commercialization of Lymphoseek and
demonstrate the value of our pipeline. On behalf of the Board, we
would also like to thank Michael Goldberg for his efforts as
Interim CEO during this time of transition.”
“I am delighted to join the Navidea team and am committed to its
growth by focusing on the achievement of our corporate goals,"
commented Rick Gonzalez. “Together, with our dedicated and talented
team, we will strive to expand the global commercial opportunity
for Lymphoseek and its ground-breaking label for use in all solid
tumors; further explore and pursue exciting Manocept™ platform
prospects; and advance the important neuroimaging tracer programs
through strategic partnerships. I look forward to the challenge at
this important time in the Company’s evolution.”
At Spectrum Pharmaceuticals, Mr. Gonzalez had increasing
responsibilities leading teams in the U.S. and abroad and played an
active role in the evolution of the organization from a product
development company to a global commercial enterprise. Most
recently he was responsible for designing and leading the
globalization and commercialization strategy for international
markets including Europe, Asia, Middle East and Latin America. Of
Mr. Gonzalez’s over 20 years of experience in the pharmaceutical
industry, 14 years have been focused in specialty markets,
including HIV/AIDS, Hematology and Oncology. Rick’s prior
experience includes roles in all aspects of product
commercialization including sales, marketing, operations,
distribution, managed markets, contracting, reimbursement, pricing
and government affairs with several companies including Abraxis
Oncology, Genzyme, Ligand Pharmaceuticals, Roche Laboratories and
GlaxoSmithKline. Mr. Gonzalez earned his Bachelor of Science in
Business Logistics from Penn State University.
In connection with his appointment, Navidea entered into an
employment agreement with Mr. Gonzalez and made an inducement grant
to him of equity compensation. Mr. Gonzalez was granted options to
purchase 1,000,000 shares of Navidea’s common stock at an exercise
price of $1.26 per share, the closing market price on October 10,
2014. The options vest and become exercisable in three tranches,
subject to Mr. Gonzalez’s continued employment by Navidea. The
first tranche of 300,000 shares vests on the first anniversary of
grant. The second tranche of 300,000 shares vests on or after the
second anniversary of the date of grant, provided that this tranche
would not be exercisable unless and until the average closing price
per share of Navidea’s common stock for the ten trading days prior
to exercise equals or exceeds $2.50 per share. The third tranche of
400,000 shares vests on the third anniversary of the grant date,
provided that this tranche would not be exercisable unless and
until the average closing price per share of Navidea’s common stock
for the ten trading days prior to exercise equals or exceeds $3.50
per share.
Navidea's Compensation Committee and the independent members of
the Board of Directors approved the employment inducement award in
reliance on an employment inducement exception to NYSE shareholder
approval governance rules. These options were awarded as an
inducement grant pursuant to NYSE MKT Rule 711, which requires an
immediate public announcement in connection with any inducement
grant. This press release is intended to comply with that
requirement.
About Navidea Biopharmaceuticals Inc.
Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB) is a
biopharmaceutical company focused on the development and
commercialization of precision diagnostics and radiopharmaceutical
agents. Navidea is developing multiple precision diagnostic
products and platforms including Manocept™, NAV4694, NAV5001, and
NAV1800 (RIGScan™), to help identify the sites and pathways of
undetected disease and enable better diagnostic accuracy, clinical
decision-making and, ultimately, patient care. Lymphoseek®
(technetium Tc 99m tilmanocept) injection, Navidea’s first
commercial product from the Manocept platform, was approved by the
FDA in March 2013. Navidea’s strategy is to deliver superior growth
and shareholder return by bringing to market novel
radiopharmaceutical agents and advancing the Company’s pipeline
through selective acquisitions, global partnering and
commercialization efforts. For more information, please visit
www.navidea.com.
The Private Securities Litigation Reform Act of 1995 (the Act)
provides a safe harbor for forward-looking statements made by or on
behalf of the Company. Statements in this news release, which
relate to other than strictly historical facts, such as statements
about the Company’s plans and strategies, expectations for future
financial performance, new and existing products and technologies,
anticipated clinical and regulatory pathways, and markets for the
Company’s products are forward-looking statements within the
meaning of the Act. The words “believe,” “expect,” “anticipate,”
“estimate,” “project,” and similar expressions identify
forward-looking statements that speak only as of the date hereof.
Investors are cautioned that such statements involve risks and
uncertainties that could cause actual results to differ materially
from historical or anticipated results due to many factors
including, but not limited to, the Company’s continuing operating
losses, uncertainty of market acceptance of its products, reliance
on third party manufacturers, accumulated deficit, future capital
needs, uncertainty of capital funding, dependence on limited
product line and distribution channels, competition, limited
marketing and manufacturing experience, risks of development of new
products, regulatory risks and other risks detailed in the
Company’s most recent Annual Report on Form 10-K and other
Securities and Exchange Commission filings. The Company undertakes
no obligation to publicly update or revise any forward-looking
statements.
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Navidea BiopharmaceuticalsBrent Larson, 614-822-2330Executive VP
& CFOorSharon Correia, 978-655-2686Associate Director,
Corporate Communications
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