Connective Therapeutics Names Raab and Ruvane to Board.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Nov. 20, 1995--Connective Therapeutics announced today the election of both G. Kirk Raab and Joseph J. Ruvane, Jr. to its board of directors. Mr. Raab was named chairman of the board of directors and will also serve as an advisor to the company's management. Mr. Raab was formerly president and chief executive officer of Genentech, which licensed products and technology to Connective at the time of its founding in 1993. Prior to joining Genentech, Inc. in 1985, Mr. Raab was 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. and a director of Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. . He also currently serves as chairman of Shaman shaman (shä`mən, shā`–, shă`–), religious practitioner in various, generally small-scale societies who is believed to be able to diagnose, cure, and sometimes cause illness because of a special relationship with, or Pharmaceuticals, Oxford Glycosystems, and is a director of Oclassen Pharmaceuticals. Mr. Raab succeeds Alexander E. Barkas, Ph.D. as chairman. Dr. Barkas, a partner at Kleiner Perkins Caufield and Byers, Connective's founding investor, was also the company's founding chief executive officer, and will remain a director. Mr. Ruvane has more than 30 years experience as an executive in the pharmaceutical industry. He was Glaxo Inc.'s president, chief executive officer and chairman from 1981 to 1988. He also served as an executive director of Glaxo Holdings P.L.C., responsible for the Group's business in North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Mr. Ruvane currently serves as chairman of the board of SyStemix in Palo Alto, CA and is a director of Intercardia in Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , NC. "Speaking on behalf of the investors and employees of Connective, we are delighted to have Kirk Raab and Joe Ruvane affiliated with the company," said Thomas G. Wiggans, president and chief executive officer of Connective Therapeutics. "Both have an outstanding record of building very successful businesses in the pharmaceutical and biotechnology industries and their vision, experience and expertise will be extremely valuable to Connective as we continue to build the company. Their experience in product development, commercial issues and strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. will help us successfully complete our product development activities and move Connective's products to the market. "We especially thank Alex Barkas for his efforts and support during Connective's first two years, and we look forward to his continued participation on the board," added Mr. Wiggans. Connective Therapeutics, founded in 1993, is a privately-held firm focused on the development of novel therapeutics for chronic connective tissue disorders. The company's therapeutic approaches are based on controlling cells that produce excessive or abnormal connective tissue, and on modulating the immune response immune response n. An integrated bodily response to an antigen, especially one mediated by lymphocytes and involving recognition of antigens by specific antibodies or previously sensitized lymphocytes. directly associated with certain connective tissue diseases connective tissue disease Autoimmune disease, collagen-vascular disease Any of the diseases affecting connective tissues, with an autoimmune component, and immunologic/inflammatory defects Clinical Arthritis, connective tissue defects, endocarditis, myositis, . Investors include Kleiner, Perkins, Caufield and Byers, Sierra Ventures, Domain Associates, Biotechnology Investments, Ltd., The Sprout Group, G.I.M.V., Sofinnova and Lease Management Services. Genentech, Inc. is a stockholder in the company, Connective is headquartered in Palo Alto, CA. CONTACT: Connective Therapeutics, Inc. Richard J. Hammel, Ph.D., 415/843-2800 Internet: Rick_Hammel@ctrx.com or StratiPoint Group, Inc. Carole Melis/Mike Jackman, 415/342-5686 or 415/388-3216 |
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