Corinne H. Lyle Joins SangStat Board of Directors.Business Editors/Health & Medical Writers SangStat (Nasdaq: SANG) announced today that Corinne H. Lyle has joined its Board of Directors. Ms. Lyle has served as the Vice President and Chief Financial Officer of Tularik Inc., a leading biotechnology company, since 1998. Prior to joining Tularik, Ms. Lyle had established a successful track record of healthcare financial transactions while serving in various positions of leadership within large investment banking institutions. "Ms. Lyle's diverse experience from both investment banking and the biotech industry brings significant expertise to our board," said Jean-Jacques Bienaime, Chairman, President and 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. of SangStat. "As SangStat expands its business, we will benefit tremendously from Ms. Lyle's broad knowledge of investment financing within entrepreneurial biotech organizations." While at Tularik, Ms. Lyle was directly responsible for the Company's successful initial public offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) in 1999, as well as its follow-on offering Follow-On Offering An offering of additional shares after a company has had an initial public offering. Notes: This sometimes means the company is strapped for cash. So they need to issue more shares to pay bills or finance a new project. in 2000 with total proceeds of $187 million. Prior to joining Tularik, Ms. Lyle was Executive Director for the West Coast Healthcare Group at Warburg Dillon Read Investment bank created by the 1997 merger of S.G. Warburg & Co. and Dillon, Read & Co. Subsequently renamed UBS Warburg and now part of UBS AG, where the Warburg name was eventually dropped. from 1996 to 1998. From 1994 to 1996, Ms. Lyle was a Senior Vice President of the Healthcare Group at PaineWebber, Inc., and she was Vice President of Healthcare at Kidder, Peabody & Co., Inc. from 1988 to 1994. During her career in banking, Ms. Lyle executed $2 billion of healthcare transactions ranging from IPOs and follow-on offerings to private placements, divestitures and spin-offs. Ms. Lyle is a member of the board of directors for Edwards Lifesciences Corporation, and she earned an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. . SangStat SangStat is a fully integrated global biotechnology company focused on immunology and working to discover, develop and market high value therapeutic products in the autoimmune, hematology/oncology and immunosuppression immunosuppression Suppression of immunity with drugs, usually to prevent rejection of an organ transplant. Its aim is to allow the recipient to accept the organ permanently with no unpleasant side effects. areas. SangStat's U.S. headquarters are in Fremont, California. SangStat also maintains a strong European presence, including direct sales and marketing forces in France, Germany, Italy, Spain, and the UK, and distributors throughout the rest of the world. SangStat's stock is traded on the Nasdaq under the symbol "SANG." The company's web site is located at www.sangstat.com. This press release contains "forward-looking" statements. For this purpose, any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," "intends" and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause results to differ materially from those indicated by these forward-looking statements. For a discussion of these and other factors that might result in different outcomes, see "Risk Factors" in SangStat's 2001 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. , its 2002 quarterly reports on Form 10-Q Form 10-Q See 10-Q. , and other documents filed with the Securities and Exchange Commission. SangStat assumes no obligation to update any such forward-looking statements, risks or reasons why actual results might differ. |
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