Abgenix Announces Departure of Chief Financial Officer.Business Editors FREMONT, Calif.--(BUSINESS WIRE)--Dec. 22, 2003 Abgenix, Inc. (Nasdaq:ABGX) today announced that Kurt Leutzinger, the company's chief financial officer, has resigned, effective December 31, 2003, to relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. and be closer to his family. Barbara Riching, Abgenix's controller for nearly five years, will assume interim responsibility for financial matters. Mr. Leutzinger will continue to provide financial and strategic advice to the company in a consulting role. The company has initiated a recruiting process for a new CFO See Chief Financial Officer. . "Over the past six and a half years, Kurt has contributed to building Abgenix during its growth from its early days as a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. ," said Ray Withy with·y adj. 1. Made of or as flexible as withes; tough. 2. Wiry and agile. n. pl. with·ies 1. A rope or band made of withes. 2. a. , PhD., president and chief executive officer of Abgenix. "As Abgenix prepares for the next phase in its product development activities, we wish Kurt every success in his future endeavors." About Abgenix Abgenix is a biopharmaceutical company focused on the discovery, development and manufacturing of human therapeutic antibodies. The company's antibody development platform includes a leading technology and state-of-the-art manufacturing capabilities that enable the rapid generation, selection and production of high affinity, fully human antibody product candidates to a variety of disease targets. Abgenix leverages its leadership position in human antibody technology to build a diversified diversified (di·verˑ·s product portfolio through the establishment of collaborations with multiple pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. . For more information on Abgenix, visit the company's website at www.abgenix.com. Statements made in this press release about Abgenix's technologies, product development activities, collaborative arrangements and process science and manufacturing activities and about its projected financial results and the achievement of milestone or similar payments, other than statements of historical fact, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. and are subject to a number of uncertainties that could cause actual results to differ materially from the statements made, including risks associated with the success of clinical trials, the progress of research and product development programs, product manufacturing, regulatory approval processes, competitive products and services, future capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and the extent and breadth of Abgenix's patent portfolio. Please see Abgenix's public filings with the Securities and Exchange Commission for information about risks that may affect Abgenix. |
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