Rockville, Maryland. May 6, 2008. MacroGenics Inc, a private biotechnology company focused on the development of products to treat autoimmune disorders, cancers, and infectious diseases, today announced the appointments of Dr. Jean-Christophe Tellier as Executive Vice President and Chief Commercial Officer and Mr. James Karrels as Vice President and Chief Financial Officer. "We are very fortunate to attract two exceptionally talented professionals to the executive management team at MacroGenics," said Dr. Scott Koenig, President and CEO. "Both Jean-Christophe and Jim exhibit personal qualities and experiences that are among the best in the biotechnology and pharmaceutical industry, and they will complement the skills of our already extraordinary management group, as we position our company for growth and advance our pipeline towards commercialization."
Dr. Tellier joins MacroGenics after a distinguished 20 year career in commercial development at Novartis. Since February 2007, he served as Chairman and CEO of Novartis Pharma France and Novartis Group France. The Group comprises 2,800 employees with sales at Novartis Pharma France of about €1 billion, including marketed brand name products in cardiovascular, oncology, neurosciences, respiratory, dermatology, transplant/immunology, infectious diseases, and ophthalmology. Prior to this, Dr. Tellier was Head of the Global Business Franchise for Arthritis, Bone, and Muscle Disease headquartered in Basel. From January 2003 through September 2006, Dr. Tellier served as CEO of Novartis Pharma Belgium and Country President where he was responsible for all business units and support services and coordination of all product sectors including OTC, generics, and Ciba Vision. During this tenure, he became President of the Board of the Belgian Pharma Trade association (Pharma.be), the first non-Belgium citizen to be elected to this position. Dr. Tellier received his MD from the University of Reims Champagne-Ardenne and a post-graduate degree in rheumatology from the University of Paris V. In addition, he completed executive business programs at Harvard and INSEAD.
"Jean-Christophe's depth and breadth of international business experiences in leadership positions at Novartis and in the pharmaceutical industry add a new dimension to our organization," stated Dr. Koenig. "As a trained rheumatologist and expert in drug development and marketing, Dr. Tellier brings an unusual combination of skills to MacroGenics that will enhance our ability to advance the lead product in autoimmunity to the marketplace."
Mr. James Karrels brings a wealth of financial and analytical experience to MacroGenics. He has been at Jazz Pharmaceuticals, Inc. since 2005, most recently serving as Executive Director of Finance. While at Jazz Pharmaceuticals, he was responsible for the company's financial planning and analysis and investor relations activities. He began his career as an analyst at Merrill Lynch & Co. in 1989 and advanced to the position of Director in the Healthcare Investment Banking Group. During his tenure there, he participated in more than 30 sole or lead-managed transactions, representing over $25 billion in aggregate transaction value. His activities included the marketing, structuring, and execution of IPOs, equity and convertible debt financings, mergers and acquisitions, spin-offs and other transactions. Mr. Karrels holds an M.B.A. from Stanford University and a B.B.A. from the University of Notre Dame.
"Jim joins us at an important juncture of the company’s development. His combined experience in operations, finance and investment banking are especially important as we plan and execute on the growth of our business and advance to become a publicly-traded company," stated Dr. Koenig.
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. In October 2007, Eli Lilly and Company (NYSE:LLY) and MacroGenics, Inc. announced a global strategic alliance to develop and commercialize teplizumab, a humanized anti-CD3 monoclonal antibody, as well as other potential next generation anti-CD3 molecules for use in the treatment of autoimmune diseases. Teplizumab is currently being studied in the PROTÉGÉ trial, a global pivotal Phase II/III clinical trial for individuals with recent-onset type 1 diabetes. The company’s proprietary DART (Dual Affinity Re-Targeting) and Fc engineering technologies offer ways to improve the function of antibodies and similar molecules. 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.