Five Prime Therapeutics Announces Resignation of Dr. Lewis T. “Rusty” Williams From Board of Directors
December 26 2019 - 4:05PM
Business Wire
Five Prime Therapeutics, Inc. (NASDAQ: FPRX), a clinical-stage
biotechnology company focused on developing immune modulators and
precision therapies for solid tumor cancers, today announced that
the company’s founder, Lewis T. "Rusty" Williams, M.D., Ph.D., has
resigned as a member of the Five Prime Board of Directors to focus
on his role as Chief Executive Officer of Walking Fish
Therapeutics, a start-up company that he co-founded, and other
activities supporting life science start-up companies.
“On behalf of the Executive Team and the company, we thank Rusty
for the integral role he played in founding and building Five
Prime,” said William Ringo, Chairman and interim Chief Executive
Officer of Five Prime Therapeutics. “He made countless
contributions to the company, establishing our reputation for world
class innovative research and leading to a strong pipeline with
five programs in the clinic. We wish him continued success in his
future endeavors.”
In addition to establishing Five Prime, Dr. Williams served in a
variety of leadership roles, including as President and Chief
Executive Officer, Executive Chairman of the Board, and member of
the Board. Under his leadership, Five Prime transitioned from being
a private company to a publicly traded company with multiple global
pharmaceutical partnerships.
Following Dr. Williams' departure, the Five Prime Board will be
comprised of seven members, including six independent directors. In
mid-2019, the company appointed two new independent directors to
its Board, Carol Schafer and Lori Lyons-Williams. Ms. Schafer has
more than 25 years of investment banking and equity capital markets
experience in the biotechnology sector and Ms. Lyons-Williams has
20 years of experience launching and commercializing innovative
pharmaceutical products.
About Five Prime Therapeutics
Five Prime Therapeutics, Inc. develops innovative protein
therapeutics to improve the lives of patients with cancer. The
company focuses on developing immune modulators and precision
therapies for solid tumor cancers paired with companion diagnostics
to identify patients who are most likely to benefit from treatment
with Five Prime’s product candidates. The company’s product
candidates have innovative mechanisms of action and address patient
populations in need of better therapies. Five Prime has entered
into strategic collaborations with leading global pharmaceutical
companies and has promising product candidates in clinical and
preclinical development. For more information, please visit
www.fiveprime.com.
Five Prime Therapeutics Cautionary Note on Forward-looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as "may," "will," "expect," "plan," "anticipate,"
"estimate," "intend" and similar expressions (as well as other
words or expressions referencing future events, conditions or
circumstances) are intended to identify forward-looking statements.
These forward-looking statements are based on Five Prime's
expectations and assumptions as of the date of this press release.
Each of these forward-looking statements involves risks and
uncertainties. Actual results may differ materially from these
forward-looking statements. Factors that may cause actual results
to differ from those expressed or implied in the forward-looking
statements in this press release are discussed in Five Prime’s
filings with the U.S. Securities and Exchange Commission, including
the “Risk Factors” contained therein. Except as required by law,
Five Prime assumes no obligation to update any forward-looking
statements contained herein to reflect any change in expectations,
even as new information becomes available.
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version on businesswire.com: https://www.businesswire.com/news/home/20191226005026/en/
Media and Investor Contact Martin Forrest VP, Investor
Relations & Corporate Communications Five Prime Therapeutics,
Inc. 415-365-5625 martin.forrest@fiveprime.com
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