Abgenix Announces Raymond Withy, Ph.D. as Chief Executive Officer.Medical & Health Writers/Business Editors FREMONT, Calif.--(BW HealthWire)--April 25, 2002 Abgenix, Inc. (Nasdaq: ABGX) announced that its board of directors at a meeting today have set May 1, 2002 as the effective date for the previously announced succession of Raymond 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. , Ph.D. to the position of chief executive officer of the company. R. Scott Greer, the company's current CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , will remain as chairman of the board. Dr. Withy, currently the company's president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , has been an officer of Abgenix since its founding in 1996. In his previous roles as chief business officer, and vice president, Corporate Development, he and his team were instrumental in forming corporate collaborations with more than 30 biotechnology and pharmaceutical companies. Dr. Withy was involved in the formation of Abgenix as a subsidiary of Cell Genesys, while serving as director, Business Development of Cell Genesys. Dr. Withy, 47, has over 16 years experience in the biotechnology industry. Prior to Abgenix and Cell Genesys, Dr. Withy held various research and development positions at Genzyme Corporation and Integrated Genetics, Inc. Dr. Withy received his Ph.D. in Biochemistry from the University of Nottingham The University of Nottingham is a leading research and teaching university in the city of Nottingham, in the East Midlands of England. It is a member of the Russell Group, and of Universitas 21, an international network of research-led universities. in the U.K. and was a post-doctoral fellow at the California Institute of Technology California Institute of Technology, at Pasadena, Calif.; originally for men, became coeducational in 1970; founded 1891 as Throop Polytechnic Institute; called Throop College of Technology, 1913–20. . Abgenix is a biopharmaceutical company focused on the development and commercialization of human monoclonal antibody therapies Monoclonal antibody therapy is the use of monoclonal antibodies (or Mab) to specifically target cells. The main objective is stimulating the patient's immune system to attack the malignant tumor cells and the prevention of tumor growth by blocking specific cell receptors. for a variety of diseases. The company's antibody technology platform, which includes XenoMouse(R) and XenoMax(TM) technology, enables the rapid generation and selection of high affinity, fully human antibody product candidates to disease targets appropriate for antibody therapy antibody therapy Clinical immunology Any therapeutic intervention in which a monoclonal or other concentrated antibody is used to manage a condition–eg, cancer or severe infection . Abgenix leverages its leadership position in human antibody technology by building a large and diversified product portfolio through the establishment of licensing arrangements with multiple pharmaceutical, biotechnology and genomics companies and through the development of its own internal proprietary products. 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 and collaborative arrangements other than statements of historical fact, are forward looking statements 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, the regulatory approval process, competitive products, 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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