BioTransplant Appoints Donald B. Hawthorne President & Chief Executive Officer; Elliot Lebowitz Appointed Chairman of the Board.Business Editors & Health/Medical Writers CHARLESTOWN, Mass.--(BUSINESS WIRE)--July 22, 2002 BioTransplant Incorporated (Nasdaq: BTRN) announced today that its Board of Directors has elected Donald B. Hawthorne to the position of President & Chief Executive Officer of the Company. He succeeds Elliot Lebowitz, who has been elected Chairman of the Board. Mr. Hawthorne has 19 years of leadership experience in the healthcare industry. He has led transformations of six businesses into financial viability or greater profitability, supported five product launches, negotiated numerous business development deals, and been instrumental in three acquisitions and divestitures. He also has experience closing numerous public and private financings, raising in excess of $280 million. For the last three years, Mr. Hawthorne served as President of Hawk & Associates, Inc., a provider of general management services to the healthcare industry. Recent assignments include serving as Acting General Manager of the Custom Primers Division of Invitrogen Corporation 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. & Director of Quick Study Radiology. Previously, he served as a Partner at Ampersand The ampersand (&) normally means "and" as in Jones & Company. However, in the computer world, it is used in various ways. In Windows, it is used as a code to precede an underlined character. Ventures. Mr. Hawthorne received his MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from Stanford Graduate School of Business The Stanford Graduate School of Business (also known as Stanford Business School or Stanford GSB) is one of the professional schools of Stanford University, in Stanford, California. It is one of the leading business schools in the United States. . "I am very excited to join BioTransplant at this point in the Company's development," said Mr. Hawthorne. "The Company has a pipeline of promising therapeutics, and I look forward to building BioTransplant's business. Elliot and I are looking forward to working closely with one another and drawing on each others' respective expertise moving forward." "I am confident that Don's significant business development and operational experience will serve BioTransplant well as we continue to make clinical and operational progress across all therapeutic areas," commented Elliot Lebowitz. "I look forward to continuing to serve BioTransplant as a working Chairman of the Board with a focus on new technology opportunities." About BioTransplant BioTransplant Incorporated, headquartered in Charlestown, Massachusetts Charlestown is a part of the city of Boston, Massachusetts located on a peninsula north of Boston proper. , is developing a portfolio of products for application in a range of medical conditions, including treatment of cancer and autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause , organ and tissue transplantation, for which current therapies are inadequate. Siplizumab (MEDI-507), a lead product the Company exclusively licensed to MedImmune, is in Phase II clinical trials for the treatment of psoriasis. In addition, the Company is developing the AlloMune System, which is designed to treat a variety of hematologic malignancies, and its distribution partner Gambro BCT BCT Brigade Combat Team BCT Basic Combat Training BCT Best Conventional Pollutant Control Technology (EPA) BCT Business Cards Tomorrow BCT Banque Centrale de Tunisie (Central Bank of Tunisia) markets the Eligix family of cell separation products in Europe for use in bone marrow, stem cell stem cell In living organisms, an undifferentiated cell that can produce other cells that eventually make up specialized tissues and organs. There are two major types of stem cells, embryonic and adult. and donor leukocyte leukocyte (l  `kəsīt'): see blood. leukocyte or white blood cell or white corpuscle transplants. This news release contains forward-looking statements about BioTransplant that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors. Important factors that could cause future results to differ materially from such forward-looking statements include, but are not limited to: BioTransplant's ability to secure the additional funding required for its operations and research and development programs; BioTransplant's and its third party collaborators' ability to successfully discover, develop and commercialize its products, obtain and maintain required regulatory approvals in a timely fashion, and overcome other difficulties inherent in developing and commercializing therapeutics, therapeutic devices and therapeutic regimens; market acceptance and penetration of BioTransplant's Eligix(TM) HDM HDM - SPECIAL Cell Separation Systems in the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community ; BioTransplant's ability to obtain and enforce the patent protection required for its products; and BioTransplant's ability to maintain collaborations and distribution arrangements with third parties. For a detailed discussion of these and other factors, see the section entitled "Business -- Factors Which May Affect Results" in BioTransplant's current annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , as filed with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this news release. BioTransplant does not intend to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. |
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