Idenix Pharmaceuticals, Inc. Says CEO Resigns, Promotes CFO

CAMBRIDGE, Mass., Oct. 28 /PRNewswire-FirstCall/ -- Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX), announced today that Ronald C. Renaud, Jr. has been elected as President, Chief Executive Officer and a member of the board of directors of the company. Mr. Renaud has served as the company's Chief Financial Officer and Treasurer since June 2007 and Chief Business Officer since June 2010. Prior to joining Idenix in 2007, Mr. Renaud served as Senior Vice President and Chief Financial Officer of Keryx Biopharmaceuticals. Prior to his position at Keryx, he spent several years as a biotechnology analyst for leading investment banks including Bear Stearns, Schwab Soundview and JPMorgan. Mr. Renaud also spent more than 5 years at Amgen, where he held positions in clinical research, investor relations and finance. Mr. Renaud holds a B.A. from St. Anselm College and an M.B.A. from the Marshall School of Business at the University of Southern California.

Jean-Pierre Sommadossi, Ph.D., has resigned as President, Chief Executive Officer and Chairman and a member of the board of directors of the company, in order to pursue other interests in the biotechnology field. Dr. Sommadossi was the principal founder of Idenix and had served as the chairman of the board of directors since its inception in 1998. Dr. Sommadossi had served as President and Chief Executive Officer since November 2000.

"Jean-Pierre has guided development of Idenix since inception and the company has made considerable progress under his leadership," said Thomas R. Hodgson, lead director of the board of directors of the company. "We wish Jean-Pierre every success in his future endeavors. We are extremely pleased to have Ron Renaud, an experienced and capable executive who has worked closely with the board of directors, move into the position of President and CEO. The board of directors believes Ron is uniquely qualified to advance Idenix into the next phase of its evolution."

About Idenix

Idenix Pharmaceuticals, Inc., headquartered in Cambridge, Massachusetts, is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases. Idenix's current focus is on the treatment of hepatitis C virus.

SOURCE Idenix Pharmaceuticals, Inc.