SEATTLE--(BUSINESS WIRE)--Targeted Genetics Corporation (Pink Sheets:TGEN) (the “Company”) today announced that three of its outside board members, Dr. Joseph M. Davie, Ph.D., M.D., Roger J. Hawley and Dr. Nelson L. Levy, Ph.D., M.D., stepped down from their positions as directors of the Company, effective April 13, 2010. The departures are not the result of any disagreement or dispute, but, rather, are voluntary and intended solely as a means to resize the Board of Directors (“Board”) to be more in line with the Company’s current activities and cost structure. As previously reported, the Company has significantly reduced its operating expenses over the past several quarters, including significant reductions in headcount. In addition, earlier this year the Company delisted from NASDAQ and is no longer a Securities and Exchange Commission registrant. Going forward, Mr. Jeremy L. Curnock Cook and Dr. Michael S. Perry, D.V.M., Ph.D. will remain as outside directors and Ms. B.G. Susan Robinson, President and CEO of the Company, shall continue as a director.
