MacroGenics, Inc.' Board of Directors Elects Paulo F. Costa as Chairman
Published: Sep 19, 2013
ROCKVILLE, Md., Sept. 19, 2013 /PRNewswire/ -- MacroGenics, Inc. today announced its Board of Directors has elected Paulo F. Costa as its new Chairman. The company also announced that Dr. David C. Stump is joining its Board of Directors, both effective September 18, 2013.
Paulo Costa has served on MacroGenics' Board as a Director since 2009. Mr. Costa was the former Chairman of the Board of Amylin Pharmaceuticals, Inc. and is the former President and Chief Executive Officer of Novartis U.S. Corporation. While at Novartis, he held a number of other roles including Head of the Americas, and President and Chief Executive Officer of Novartis Pharmaceuticals Corporation, Novartis' largest pharmaceutical business. He was responsible for the entire General Medicine business in North and Latin America. Prior to joining Novartis, Mr. Costa worked at Johnson & Johnson for 30 years, where he served as President of Janssen Pharmaceutica, Executive Vice President, Global Franchise Development, and was a member of Johnson & Johnson's Pharmaceutical Group Operating Committee. He has more than 25 years of general management experience, having launched over 10 pharmaceutical products in various therapeutic areas in the U.S. market. Mr. Costa earned his M.B.A. from Harvard Business School and is a graduate of the Sao Paulo School of Business Administration, in Brazil. He is currently a member of the Board of Directors of Purdue Pharma Inc., Helsinn Therapeutics Inc. and Oncology Trials Insights.
"Over the past several years, I have had the great opportunity to work closely with Paulo and have been impressed with his leadership and the depth and breadth of his industry knowledge," said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. "We are very pleased to welcome Paulo as the new Chair of our Board of Directors. His proven skills in operations and commercialization are vital assets to MacroGenics."
Dr. David Stump was most recently Executive Vice President, Research and Development at Human Genome Sciences, Inc., (HGS) and joined the company in 1999. Prior to joining HGS, he held roles of increasing responsibility at Genentech, Inc., from 1989 to 1999, most recently as Vice President, Clinical Research and Genentech Fellow. Prior to joining Genentech, Dr. Stump was an Associate Professor of Medicine and Biochemistry at the University of Vermont. He earned an A.B. from Earlham College and an M.D. at Indiana University, followed by residency and fellowship training in internal medicine, hematology, oncology and biochemistry at the University of Iowa. He is currently a member of the Board of Directors of Sunesis Pharmaceuticals, Inc. and Dendreon Corp. as well as of the Board of Trustees of Earlham College.
"We welcome David to the Board of Directors of MacroGenics. His extensive leadership experience in clinical research and R&D and strong track record in the healthcare industry, make him an essential addition to the Board," said Scott Koenig.
Dr. Stump is replacing Board member Michael Steinmetz, Ph.D., Managing Director of Clarus Ventures, LLC.
"We want to thank Michael for his dedicated service and his contributions to MacroGenics' Board of Directors," added Scott Koenig. "It has been a real pleasure working with Michael over the last 13 years."
About MacroGenics, Inc.
MacroGenics is a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases. The company generates its pipeline of product candidates from its proprietary suite of next-generation antibody technology platforms, which it believes improve the performance of monoclonal antibodies and antibody-derived molecules. The company creates both differentiated molecules that are directed to novel cancer targets, as well as "bio-betters," which are drugs designed to improve upon marketed medicines. The combination of MacroGenics' technology platforms and antibody engineering expertise has allowed the company to generate promising product candidates and enter into several strategic collaborations with global pharmaceutical and biotechnology companies. www.macrogenics.com
Statements made in this press release that are not historical facts are forward-looking statements. Words such as "expects," "believes," "intends," and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as the Company's ability to raise additional capital, and risks related to the Company's ability to initiate, and enroll patients in, planned clinical trials. You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements
SOURCE MacroGenics, Inc.
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