Newly Reconstituted Board, With Exemplary
Credentials and Deep IP Experience, Reflects Milestone Achievement
in Improved Corporate Governance
Acacia Research Corporation (Nasdaq: ACTG) today announced it
has appointed Isaac T. Kohlberg, Senior Associate Provost and Chief
Technology Development Officer at Harvard University, and Luis
Rinaldini, CEO of Groton Partners and former Vice Chairman and
Global Head of Telecom Mergers & Acquisitions at Credit Suisse
First Boston, to its Board of Directors (“Board”). These
appointments complete the rebuilding of Acacia’s Board and bring
its membership to six directors. C. Allen Bradley, Jr., who joined
the Board in 2018, is resigning from the Board having successfully
led the reconstitution and strengthening of Acacia’s Board. Newly
elected Chairman Maureen O’Connell said, “With a full Board now in
place, we expect to quickly build out the management team.”
Acacia Director Clifford Press said, “With Isaac and Luis’
additions the Acacia Board of Directors now has an exemplary range
of experience and expertise in IP-related disciplines, including
developing royalty agreements and other commercialization
structures.”
“Isaac Kohlberg’s distinguished career, including serving as
Chief Technology Development Officer at Harvard University, and
deep experience in the patent space make him a superb addition to
the Board,” said Acacia Director Al Tobia. “Isaac has been at the
cutting edge of the intellectual property world for many years and
he has consistently devoted his efforts to ensuring that new
inventions result in broad societal benefits. We look forward to
drawing on his expertise, especially his focus on creating mutually
beneficial royalty agreements, as we work to develop new models for
investing in IP as an asset class.”
“I look forward to partnering with Acacia on developing its
approach to investing in and commercializing IP assets,” said
Kohlberg. “Through my work at Harvard and in prior roles, I have
focused on finding ways to partner with companies to ensure that
new inventions and discoveries have the broadest possible benefit
for society as a whole.”
“We are also thrilled to have Luis Rinaldini, former Vice
Chairman of Credit Suisse and a long-time Senior Managing Director
of Lazard’s Technology, Media and Telecom group, join Acacia’s
Board,” continued Tobia. “With his impressive career and deep
experience in finance, technology and healthcare, and a particular
emphasis on pharmaceutical royalties, we know Luis will be a
valuable addition to the Board.”
“I am excited to be a part of this new chapter for Acacia as it
expands its approach to investing in and commercializing IP
assets,” said Rinaldini. “Through my work at Groton Partners and in
prior roles, I have focused on acquisitions, divestitures, joint
ventures and financing of companies that depend heavily on
innovation and intellectual property.”
Clifford Press continued, “Allen Bradley stepped into his Board
role under exigent circumstances and provided a steadying hand for
Acacia. With his help, we have recruited a new, highly experienced
and deeply relevant Board with exceptionally qualified, independent
individuals. On behalf of the Board I’d like to thank Allen for his
invaluable role in this urgent and critically important effort, and
thank him for his wise guidance and insight throughout.”
Isaac T. Kohlberg Biography
Mr. Kohlberg has had a distinguished career protecting and
commercializing IP for leading universities and research
institutions. He currently is a Senior Associate Provost and Chief
Technology Development Officer at Harvard University, where he
responsible for the strategic management and commercial development
of all technologies and intellectual property (IP) arising from
Harvard’s research enterprise. Mr. Kohlberg’s role at Harvard
University includes industry liaising and outreach, IP management,
business development, technology commercialization and the
formation of startup companies and new ventures around Harvard
technology platforms. In tandem, he is also responsible for
generating, structuring, and negotiating research alliances and
collaborations with industry and generating industry-sponsored
research funding for Harvard faculty.
Prior to joining Harvard in 2005, Isaac Kohlberg was the CEO of
Tel Aviv University’s Economic Corporation and head of Ramot, its
technology transfer organization. Prior to his role at Ramot, Mr.
Kohlberg held various roles at New York University (NYU), including
Vice Provost, Vice President for Industrial Liaison (NYU’s
technology transfer program) and headed the Office of Science and
Technology Administration at NYU School of Medicine. During his
time at NYU, the institution entered into a major licensing
agreement to develop Remicade, a humanized monoclonal antibody used
in the treatment of Crohn's Disease and other autoimmune diseases,
which led to one of the largest royalty revenue streams generated
by any university worldwide.
Before NYU, Mr. Kohlberg was the CEO of YEDA, the commercial arm
of the Weizmann Institute of Science in Israel. While at YEDA,
Kohlberg negotiated and concluded major royalty-bearing license
agreements. Mr. Kohlberg has served as a Director at Anchiano
Therapeutics Ltd (TLV: ANCN, NASDAQ: ANCN), a pivotal-stage
biopharmaceutical company, since 2017 and as a Director at Clal
Biotechnology Industries Ltd. (TLV: CBI), a life sciences
investment company, since 2015. Mr. Kohlberg received his M.B.A.
from INSEAD and LL.B. from Tel Aviv University.
Luis Rinaldini Biography
Luis E. Rinaldini has been CEO of Groton Partners since he
founded the firm in 2003. At Groton Partners, Mr. Rinaldini has
advised Royalty Pharma in over $1.5 billion of recapitalization
transactions and numerous royalty acquisitions. From 2001 to 2002,
he was Vice Chairman and Global Head of Telecom Mergers &
Acquisitions at Credit Suisse First Boston, based in London.
Mr. Rinaldini joined Credit Suisse First Boston from Lazard
Frères, where he served on the Executive Committee and was the
Senior Managing Director in charge of Telecom, within the Media,
Technology and Telecom Group as well as the firm’s Latin American
practice.
ABOUT ACACIA RESEARCH CORPORATION
Founded in 1993, Acacia Research Corporation (NASDAQ:ACTG) is an
industry leader in patent licensing and partners with inventors and
patent owners to unlock the financial value in their patented
inventions. Acacia bridges the gap between invention and
application, facilitating efficiency and delivering monetary
rewards to the patent owner.
Information about Acacia and its subsidiaries is available at
www.acaciaresearch.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This news release contains forward-looking statements within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based upon our
current expectations and speak only as of the date hereof. Our
actual results may differ materially and adversely from those
expressed in any forward-looking statements as a result of various
factors and uncertainties, including the contributions of newly
appointed director, the appointment of additional directors, the
ability to successfully develop licensing programs and attract new
business, rapid technological change in relevant markets,
changes in demand for current and future intellectual property
rights, legislative, regulatory and competitive developments
addressing licensing and enforcement of patents and/or intellectual
property in general, general economic conditions and the success of
our investments. Our Annual Report on Form 10-K, recent and
forthcoming Quarterly Reports on Form 10-Q, recent Current Reports
on Form 8-K, and any amendments to the forgoing, and other SEC
filings discuss some of the important risk factors that may affect
our business, results of operations and financial
condition. We undertake no obligation to revise or update
publicly any forward-looking statements for any reason. The results
achieved in the most recent quarter are not necessarily indicative
of the results to be achieved by us in any subsequent quarters, as
it is currently anticipated that Acacia Research Corporation’s
financial results will vary, and may vary significantly, from
quarter to quarter. This variance is expected to result from a
number of factors, including risk factors affecting our results of
operations and financial condition referenced above, and the
particular structure of our licensing transactions, which may
impact the amount of inventor royalties and contingent legal
fees expenses we incur period to period.
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version on businesswire.com: https://www.businesswire.com/news/home/20190509005899/en/
Investors:Hayden IRRob Fink,
646-415-8972ACTG@HaydenIR.com
Media:Sloane & CompanyJoe Germani / Kristen Duarte,
212-486-9500jgermani@sloanepr.com / kduarte@sloanepr.com
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