Rockville, MD. September 26, 2007. MacroGenics, Inc. announced today that Mr. Jeffrey H. Buchalter has been elected as Chairman of the company’s Board of Directors. With more than 20 years of experience in product development and commercialization in the pharmaceutical and biotechnology industry, Mr. Buchalter is well poised to work with the management team at MacroGenics as the company matures toward commercializing its pipeline.
“We are honored that Mr. Buchalter, an established leader in the biotechnology and pharmaceutical industry, has joined the MacroGenics Board of Directors as Chairman. His proven skills in building and transitioning research and development-based organizations into commercial enterprises will be a tremendous asset to MacroGenics,” commented Scott Koenig, M.D., Ph.D., President and CEO.
“I am excited to have an opportunity to work closely with such a talented management team and esteemed group of investors and directors at MacroGenics,” said Mr. Buchalter. “The company has done a terrific job in creating one of the best programs in monoclonal antibody therapeutics with its rich pipeline, platforms, and product development capabilities.”
Mr. Buchalter currently serves as President, CEO and Chairman of the Board of Enzon Pharmaceuticals, Inc. (NASDAQ: ENZN), a biopharmaceutical company dedicated to the development and commercialization of therapeutics for cancer and other life-threatening diseases. Prior to joining Enzon, Mr. Buchalter was President and Chief Executive Officer of ILEX Oncology, Inc., where he led the company’s evolution from a contract research organization to a product-driven pharmaceutical company, with a high quality oncology franchise and established commercialization expertise. During Mr. Buchalter’s tenure at ILEX, the company was acquired by Genzyme Corporation for $1.1 billion.
Mr. Buchalter also has held leadership roles at Pharmacia Corporation, Wyeth and Schering-Plough Corporation and has received awards for his commitment to the field of cancer research and development. In particular, he received the American Cancer Society’s Joseph F. Buckley Memorial Award and was invited by former President George Bush to serve as a collaborating partner in the National Dialogue on Cancer. Mr. Buchalter received his B.S. in finance from Seton Hall University and a MBA in marketing from Temple University.
About MacroGenics, Inc.
Founded in 2000, MacroGenics is a private, venture-backed biotechnology company headquartered in Rockville, Maryland that focuses on the development, manufacture, and commercialization of immunotherapeutics for autoimmune disorders, cancer and infectious diseases. The company recently began Phase 3 clinical development of teplizumab with its Protégé study (www.protegediabetes.org) to evaluate the potential of the monoclonal antibody to treat patients with new-onset juvenile diabetes and Phase 1 clinical development of another antibody to treat West Nile virus infections. The company’s proprietary Fc engineering technology offers means to improve antibody function, such as enhancing the antibody’s ability to eliminate cancer cells, cells that contribute to autoimmune disorders, or those infected with certain pathogens. For more information about MacroGenics, please visit www.macrogenics.com.
Statements made in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 as a result of new information, future events or developments, except as required by law.