RNS Number:1961H
Powderject Pharmaceuticals PLC
7 February 2003
Immediate Release 7 February 2003
POWDERJECT APPOINTS NON-EXECUTIVE CHAIRMAN & TWO WORLD LEADING VACCINE EXPERTS
AS NON-EXECUTIVE DIRECTORS
Oxford, UK, 7 February 2003 - PowderJect Pharmaceuticals Plc (PowderJect;
London: PJP) announced today with immediate effect the appointment of Dr Gerald
Moller, ex-CEO of Boehringer Mannheim and PowderJect's current Deputy Chairman,
as Non-Executive Chairman. Dr Paul Drayson will continue in his role as Chief
Executive Officer. In addition, PowderJect announced the appointment of Michel
Greco, the former Deputy CEO of Aventis Pasteur, and Dr Seth Berkley, CEO and
President of the International AIDS Vaccine Initiative, to the Company's Board
as Non-Executive Directors.
"I am extremely pleased to welcome Gerry as Chairman, and to welcome Seth and
Michel to the PowderJect Board," said Dr Paul R. Drayson, Chief Executive of
PowderJect. "Over the last few years PowderJect has transformed into a strong,
profitable business. We are delighted that we have reached a position where we
can attract such senior healthcare and vaccine specialists as Gerry, Seth and
Michel, helping to ensure we have the management strength to continue our rapid
growth. The important structural Board changes we have announced today, combine
solid experience with the entrepreneurial spirit we have already at PowderJect.
This great mix of skills will allow us to build a truly world-leading company
over the coming years."
Dr Gerald Moller - Non-Executive Chairman
Commenting on the appointment of Gerald Moller, Dr Paul R. Drayson said, "As
Deputy Chairman Gerry has contributed greatly to the transformation and growth
of the Company. His experience of running international pharmaceutical companies
combined with his foresight and industry knowledge will continue to prove
invaluable as we expand our business. Gerry and I have worked together extremely
effectively over the last 2 years, and I would like to congratulate him on his
appointment as Chairman, and look forward to continuing our strong working
relationship."
Dr Moller has 25 years' experience in the pharmaceutical and medical diagnostics
industry. As CEO of Boehringer Mannheim, he headed a world-wide organisation
with revenues of over $3.5 billion and 18,000 employees, and managed the merger
and integration of the group with Hoffmann-La Roche. Dr Moller has extensive
international experience, with senior postings in Germany, the US and Japan,
including a seat on the board of Sugen Inc prior to its $650 million acquisition
by Pharmacia & Upjohn. He served as Deputy Chairman of the German Pharmaceutical
Association (VFA). He is currently the Managing Director of HBM BioCapital
Management GmbH in Germany and serves as a Non-Executive Director on the board
of several companies in the healthcare sector.
"The last two years as a PowderJect Board member have been very exciting, as we
have transformed the Company into a profitable business and have laid the
foundations of a major force in the vaccines field. Looking forward, I am
delighted to be appointed Chairman of such a strong company with such great
prospects in a key segment of modern global healthcare. The Board changes we
have put in place today should provide us with the right blend of skills to
build on the profitable business we have created to date."
Dr Seth Berkley and Michel Greco - Non-Executive Directors
"Seth and Michel are both acknowledged as leaders in the vaccine field, and
bring great expertise and strategic vision to the Company," said Dr Paul R.
Drayson commenting on the two new Board appointments. "Michel's extensive
commercial vaccines experience, particularly in the field of global operations,
will contribute enormously to PowderJect as we continue our growth in this
rapidly expanding industry. Seth's leadership in global initiatives designed to
focus governments, non-governmental organisations (NGOs) and industry on
increasing access to vaccines will offer PowderJect strategic direction in this
increasingly important area. Together Seth and Michel will provide PowderJect
with significant knowledge and complementary skills, which should be highly
valuable as we build on our position as the world's leading independent vaccines
company."
Michel Greco has enjoyed a long and distinguished career in the vaccines
industry. Until December 2002 he was the Deputy CEO of Aventis Pasteur, one the
world's largest vaccines companies, prior to which he was the company's
President and Chief Operating Officer. From 1994 to 1998 Mr Greco was the
President of the European vaccines joint venture between Pasteur Merieux and
Merck & Co, Pasteur Merieux MSD. During this period he was also the President of
the European Vaccine Manufacturers association. In addition, he was until
recently a member of the Strategic Advisory Group of Experts which advises WHO
on immunisation policy and sat on the European Union's task force on
bioterrorism.
"Having been in the vaccine industry for many years, I am impressed by the rapid
emergence of PowderJect as a major player in the field. I believe the Company's
pure focus on vaccines and immunotherapeutics is a great strategic advantage,
and I am very excited at the prospect of helping PowderJect pursue its strategy
to become one of the world's leading companies in the field," said Mr Greco.
Dr Berkley, a qualified medical doctor specialising in infectious disease
epidemiology, has more than 20 years' experience in international healthcare. As
an epidemiologist for the Carter Center in Uganda in the mid 1980s, Dr Berkley
set up the country's first surveillance system for HIV infection. Following work
at the US Centers for Disease Control and Prevention (CDC) and almost a decade
at the Rockefeller Foundation, where he was responsible for immunisation and
other public health programmes, he founded the International AIDS Vaccine
Initiative (IAVI), one of the world's first public-private health partnerships,
in 1996. As President and CEO he has raised over $280 million to invest in
developing AIDS vaccines and through a global advocacy programme gained the
commitment of the scientific community, UN agencies and governments. As a result
IAVI now has six novel vaccine approaches in development.
Commenting on his appointment Dr Berkley said, "I am honoured to serve on the
Board of the world's leading independent vaccine company. PowderJect is not only
a leader in vaccine science but is also committed to helping improve health
globally. Both PowderJect and I share the view that the public and private
sectors must develop new ways of working together to solve the world's health
problems, and therefore I am very pleased to be joining a company that can play
an active role in making that dream a reality."
Other Board changes
Concurrent with these new appointments, PowderJect also announced that Professor
John Bell who has served on the Board since 1993 is to retire as a Non-Executive
Director. Commenting on Prof Bell's retirement, Dr Paul R. Drayson said, "I
would like to thank John for the great contribution he has made over the past
ten years in helping transform PowderJect from a loss-making start-up company
into one of the world's leading vaccines companies. Through his involvement in a
number of Oxford University spin-out companies, as well as PowderJect, John has
a made a major contribution to the development of a strong biotechnology
industry in the UK."
In addition, PowderJect announced today that Executive Director Larry Ellberger,
Senior Vice President Corporate Development, will become a Non-Executive
Director. Mr Ellberger, who led PowderJect's corporate development team during
the acquisition of Evans Vaccines and SBL Vaccin, will continue to advise the
company on strategic development.
Notes for Editors:
There are no disclosures under section 16.4b of the Listing Rules relating to
these appointments. In addition, Dr Berkley has no disclosable public company
Directorships.
Summary of Directorships of public companies held by Mr Greco:
Present: ID Biomedical Corporation, VaxGen Inc.
PowderJect is the world's leading independent vaccine company. The company's
headquarters are located in Oxford, UK, and it has facilities located in Europe
and the US. With a range of products sold under its Evans Vaccines and SBL
Vaccines brands, PowderJect is one of the world's largest vaccines companies.
PowderJect's portfolio of products includes vaccines for influenza, yellow
fever, travel diarrhoea (ETEC), cholera, tuberculosis, polio and tetanus. The
company's biologicals manufacturing facilities are amongst the largest in
Europe, and have approvals from both the US and European regulatory authorities.
PowderJect's technology focus is on the needle-free powder injection of
vaccines, a field in which it leads the world. The company is developing a broad
range of vaccines based upon this proprietary delivery technology. PowderJect is
also the world leader in the field of DNA vaccines, a revolutionary new method
of vaccination that offers the potential to protect against and treat diseases
such as hepatitis B and HIV.
For further information contact:
Dr. Paul Drayson Tim Anderson
Chief Executive Officer Buchanan Communications
PowderJect Pharmaceuticals Plc Tel: +44 (0)207 466 5000
Tel: +44 (0)1865 332600
Rob Budge
Director Corporate Communications
PowderJect Pharmaceuticals Plc
Tel: +44 (0)1865 332600
www.powderject.com
This information is provided by RNS
The company news service from the London Stock Exchange
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