CAMBRIDGE, Mass., Sept. 18 /PRNewswire/ -- Peptimmune, Inc. a privately held biotechnology company, announced that Fredric D. Price has been appointed Executive Chairman of the Board of Directors. Mr. Price brings more than 30 years of biotechnology and pharmaceuticals industry experience to the company, including 13 years as CEO and/or Chairman of publicly traded firms.
Mr. Price is currently Chairman of the Board of Directors of New York- based Omrix Biopharmaceuticals , a member of the Board of Directors of Pharmasset , located in Princeton, New Jersey and a member of the Board of Directors of Enobia, a privately held biotechnology company in Montreal, Quebec; he will continue in these positions. Previously, Mr. Price was Chairman and CEO of BioMarin Pharmaceutical and President and CEO of Applied Microbiology.
Thomas P. Mathers, Peptimmune’s President and CEO, said, “We are delighted to welcome Fred to lead our Board, as his extensive experience in all aspects of management of biotech companies is an important resource for the Company at this critical time, when we are poised to initiate our third clinical development program using peptide therapy for the treatment of multiple sclerosis and other autoimmune diseases.”
Mr. Price added, “Being able to participate in the management of a firm that is undertaking development of products with promise to treat patients with multiple sclerosis is a privilege. I look forward to working with Tom, his management team and the Board of Directors towards the common goals of improved patient outcomes and increased shareholder value.”
Board reorganization
The company also announced that the Board of Directors has been reduced to five members: Mr. Mathers; Mr. Price; John Brooks, III, General Partner, Prism VentureWorks; Luke Evnin, Ph.D., General Partner, MPM Capital; and M. James Barrett, Ph.D., General Partner, New Enterprise Associates.
Mr. Mathers said, “Now that our lead product for multiple sclerosis is entering the clinic, it is appropriate to add to the leadership team and to restructure the Board of Directors. I want to express my sincere appreciation to the following departed members of the Board of Directors: independent Directors Robert Carpenter, Dr. Hugh Rienhoff, Dr. Alan Walts, and David McLachlan; and Dr. Robert Ulrich, General Partner, Vanguard Ventures. Their dedication and support has been important to the company as it has emerged from a research stage enterprise to the clinical development organization it is currently.”
About Fredric D. Price
Prior to his current Board responsibilities, Fredric Price was Chairman of the Board of Directors and CEO of BioMarin Pharmaceutical and President, CEO and a member of the Board of Directors of Applied Microbiology. As Chairman and/or CEO, he has raised $500 million in a variety of securities transactions, built FDA approved facilities and had drugs approved in the U.S. as well as in international markets. His earlier experience includes having been Vice President of Finance and Administration and CFO of Regeneron Pharmaceuticals, the founder of the strategy consulting firm RxFDP, and Vice President of Pfizer Pharmaceuticals with both line and staff responsibilities. Mr. Price is a co-inventor of 12 issued U.S. patents and one U.S. patent application. He received a B.A. from Dartmouth College and an M.B.A. from the Wharton School of the University of Pennsylvania.
About Peptimmune
Peptimmune, Inc. is a privately held clinical stage biotechnology company focused on the development of peptide therapies to improve the management of chronic autoimmune and inflammatory disorders. The Company is in clinical development with second-generation therapeutics that are expected to result in safer and more effective products for multiple sclerosis and pemphigus vulgaris. Current investors include New Enterprise Associates, MPM Capital, Prism Venture Partners, Vanguard Ventures, Hunt Ventures, Boston Medical Investors, Silicon Valley Bank Capital, Itochu Corporation, and Genzyme Corporation. For additional information, access our website at http://www.peptimmune.com.
Peptimmune, Inc.
CONTACT: Dustan Bonnin of Peptimmune, Inc., +1-617 715-8043,dustan.bonnin@peptimmune.com
Web site: http://www.peptimmune.com/
