MARTIN D. CLEARY NAMED PRESIDENT, CEO, AND MEMBER OF BOARD OF THERAGEN, INC.
PRINCETON, N.J., July 28 /PRNewswire/ -- Theragen, Inc., a privately held gene therapy biotechnology company, announced today the appointment of Martin D. Cleary as President, Chief Executive Officer, and member of the Board of Directors, effective Sept. 1, 1993. According to Thomas S. Porter, Chairman of the Board of Theragen and founding venture capital investor, "Theragen is indeed fortunate to have attracted an executive of Mr. Cleary's calibre. His broad-based, general management, and biotechnology experience, together with a proven track record for building successful organizations, ideally positions him to make a major contribution to the development of Theragen and its programs." Prior to joining Theragen, Cleary served as Group Vice President and Chief Financial Officer of CYTOGEN Corporation, a leading biotechnology company in Princeton, as well as President and Chief Executive Officer of CYTORAD, a public corporation engaged in the research and development of antibody-based drug delivery systems. Prior to joining CYTOGEN in 1986, Cleary spent 14 years at Johnson & Johnson Company in managerial positions of increasing responsibility; most recently being Vice President of Operations for the company's Iolab Corporation, located in Claremont, Calif. Lawrence D. Poster, Managing Director of the Catalyx Group, Inc., the executive search firm handling the assignment, said, "Mr. Cleary is an ideal choice as CEO of Theragen. Martin is a seasoned leader and among the strongest fund raisers in all biotechnology. Keenly interested in the field of gene therapy, Martin brings to his new company a breadth of big and small company general management experience, high personal integrity, and a reputation for business acuity. He and Theragen appear to be extremely well matched for the business building ahead." In commenting on the appointment, Cleary said, "I am delighted to become a member of the Theragen team. The Company founders have put together an outstanding research program in gene therapy using proprietary technology licensed from five major research universities including the University of Pittsburgh and the University of Michigan. I am confident the company will become a leader in gene therapy and make a significant contribution to the future of human healthcare. The Company's Scientific Advisory Board and Board of Directors are first rate, and it is a privilege to be selected to lead this effort." Theragen was founded in 1991 in Ann Arbor, Mich. It is focusing on inherited metabolic diseases such as lysosomal storage diseases, diseases of joints and connective tissues, such as Arthritis, and nervous system diseases, such as Alzheimer's and Parkinson's disease. The Company has several corporate relationships; among them a collaboration for the development and commercialization of the gene therapy products with Parke-Davis, a division of Warner-Lambert Company. In June, Theragen received Recombinant DNA Advisory Committee (RAC) approval for a gene therapy protocol to treat Gaucher disease and is expected to begin clinical studies soon. /delval/ -0- 7/28/93 /CONTACT: Cheryl Shipley Coyle of NCI Public Relations, 609-452-0101, or Katherine B. Kaufmann, 313-769-3500, both for Theragen/
CO: Theragen, Inc.; Cytogen Corporation ST: New Jersey, Michigan IN: MTC SU: PER
LJ -- PH015 -- 6714 07/28/93 10:36 EDT
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|Date:||Jul 28, 1993|
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