Kosan's Board of Directors Appoints Helen S. Kim as Chief Executive Officer
18 Marzo 2008 - 2:00PM
PR Newswire (US)
HAYWARD, Calif., March 18 /PRNewswire-FirstCall/ -- Kosan
Biosciences Incorporated (NASDAQ:KOSN) today announced that its
Board of Directors has appointed Helen S. Kim as Chief Executive
Officer, effectively immediately. Ms. Kim joined Kosan in January
2008 as Senior Vice President and Chief Business Officer, and was
appointed President in late February. Peter Davis, PhD., Kosan's
Chairman of the Board, commented: "We believe that Helen possesses
the breadth of business management and commercial experience,
demonstrated leadership and commitment to Kosan to ensure that our
company can operate at the highest levels of efficiency,
productivity and teamwork and advance our key products toward the
market. Helen has the full support of the Board and the senior
management team, and we are confident that under her direction,
Kosan can realize its potential as a product-focused, market-driven
organization." In addition to her extensive experience in business
and corporate development, Ms. Kim's biotechnology expertise also
includes corporate finance and strategic marketing. Ms. Kim's
industry credentials include senior positions at Affymax, Onyx
Pharmaceuticals, Protein Design Labs and Chiron Corporation. At
Affymax, she served as Chief Business Officer where she created and
implemented a new business model and was responsible for portfolio
prioritization, licensing and capital formation. At Onyx, Ms. Kim
established and managed corporate collaborations and had oversight
for project management, strategic marketing and investor relations.
At Protein Design Labs, she originated the company's marketing and
research and development project management functions and was
responsible for strategic marketing. At Chiron, she led the global
strategic marketing function for Chiron's therapeutics and vaccines
businesses including new product launches and established multiple
external collaborations including licensing, co-development and
joint venture transactions. Ms. Kim most recently served as Chief
Program Officer for the Gordon and Betty Moore Foundation where she
successfully developed initiatives to transform healthcare delivery
practices in acute care hospitals. Ms. Kim received a B.S. in
Chemical Engineering from Northwestern University and a M.B.A. from
the University of Chicago. About Kosan Kosan Biosciences is a
biotechnology company advancing two new classes of anticancer
agents through clinical development -- a Hsp90 (heat shock protein
90) inhibitor and an epothilone. Hsp90 inhibitors have a novel
mechanism of action targeting multiple pathways involved in cancer
cell growth and survival. Tanespimycin (KOS-953) is being tested in
combination with Velcade(R) (bortezomib) in patients with multiple
myeloma in a clinical program called TIME. Tanespimycin is also
being studied in HER2-positive metastatic breast cancer in
combination with Herceptin(R) (trastuzumab). Epothilones inhibit
cell division with a mechanism of action similar to taxanes, one of
the most successful classes of anti-tumor agents. KOS-1584 is in
Phase trials in solid tumors. Kosan's motilin agonist compound,
KOS-2187, licensed to Pfizer, is in a Phase 1 trial in
gastroesophageal reflux disease (GERD). For additional information
on Kosan Biosciences, please visit the company's website at
http://www.kosan.com/. This press release contains forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995 (the "Act").
Such forward-looking statements include but are not limited to
statements regarding the further development and potential safety,
efficacy, regulatory status, commercial potential and other
characteristics of Kosan's product candidates; the continuation of
current clinical trials; the initiation of additional clinical
trials and the timing thereof and the use of Kosan's financial
resources. Words such as "will," "expect," "believe," "may,"
"intend," "plan," "potential" and similar expressions are intended
to identify forward-looking statements. Any statements contained in
this press release that are not statements of historical fact may
be deemed to be forward-looking statements. These forward-looking
statements are based upon Kosan's current expectations.
Forward-looking statements involve risks and uncertainties. Kosan's
actual results and the timing of events could differ materially
from those anticipated in such forward-looking statements as a
result of these risks and uncertainties, which include, without
limitation, risks related to the uncertain progress and results of
Kosan's preclinical and clinical testing, including the risks that
studies and trials may not demonstrate safety and efficacy
sufficient to initiate clinical trials on the timing currently
anticipated, or at all, continue clinical development, obtain the
requisite regulatory approvals or result in a marketable product;
the conduct of clinical trials; manufacturing; regulatory approval
requirements and process; the effort and expense necessary for
further development of Kosan's product candidates, including the
costs of bortezomib; intellectual property matters, including
Kosan's ability to obtain valid and enforceable patents covering
its product candidates; Kosan's dependence on its collaboration
with Pfizer for development of its motilin agonist product
candidate; Kosan's need for additional financing and Kosan's
strategy to enter into partnering or licensing arrangements. These
and other risk factors are discussed under "Risk Factors" in
Kosan's Annual Report on Form 10-K for the year ended December 31,
2007 and other periodic filings with the SEC. Kosan expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein. Velcade(R) (bortezomib) is a registered trademark of
Millennium Pharmaceuticals, Inc. Herceptin(R) (trastuzumab) is a
registered trademark of Genentech, Inc. DATASOURCE: Kosan
Biosciences Incorporated CONTACT: Jane Green, VP, Corporate
Communications, office, +1-510-731-5335, mobile, +1-415-652-4819, ,
or Helen S. Kim, Chief Executive Officer, office, +1-510-731-5270,
mobile, +1-510-853-1314, , both of Kosan Biosciences Incorporated
Web site: http://www.kosan.com/
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