Alexion Adds Paul A. Friedman, M.D. to Its Board of Directors
September 14 2017 - 4:30PM
Business Wire
- Former President and CEO of Incyte
Corporation Brings Extensive R&D and Biotech Experience -
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.”
About Alexion
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.
[ALXN-G]
Forward-Looking Statements
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.
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Alexion:MediaKim
Diamond, 475-230-3775Executive Director, Corporate
CommunicationsorInvestorsElena Ridloff, CFA,
475-230-3601Vice President, Investor RelationsorCatherine Hu,
475-230-3599Director, Investor Relations
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