Fred Hassan, Former CEO of Schering-Plough and Former Chairman of Bausch & Lomb, Joins Prometheus Biosciences Board
May 17 2021 - 8:00AM
Prometheus Biosciences, Inc. (Nasdaq: RXDX), a clinical-stage
biotechnology company pioneering a precision medicine approach for
the discovery, development, and commercialization of novel
therapeutic and companion diagnostic products for the treatment of
immune-mediated diseases, starting first with inflammatory bowel
disease (IBD), today announced the appointment of Fred Hassan to
its Board of Directors.
“We’re honored to have a highly accomplished industry titan like
Fred join our Board at this pivotal time,” said Mark McKenna,
President and CEO of Prometheus. “Fred’s wealth of experience over
the last thirty years as an investor, board member, and executive
of global pharmaceutical corporations, will strengthen our board as
we advance our pipeline of precision therapies for immune-mediated
diseases. On behalf of the Board, I welcome Fred and we are eager
to benefit from his insights and acumen.”
Mr. Hassan joined Warburg Pincus LLC, a global private equity
investment institution, in 2009 and currently serves as Director.
Previously, Mr. Hassan served as Chairman and Chief Executive
Officer of Schering-Plough from 2003 to 2009. Before assuming these
roles, from 2001 to 2003, Mr. Hassan was Chairman and Chief
Executive Officer of Pharmacia Corporation, a company formed
through the merger of Monsanto Company and Pharmacia & Upjohn,
Inc. He joined Pharmacia & Upjohn, Inc. as Chief Executive
Officer in 1997.
Mr. Hassan has been a director of Amgen, Inc. since 2015 and of
Precigen Corporation, a synthetic biology company, since 2016. He
was a director of Time Warner Inc. from 2009 until its acquisition
by AT&T Inc. in 2018 and a director of Avon Products, Inc. from
1999 until 2013, where he served as Chairman of the Board between
January and April 2013. He was Chairman of the Board of
Bausch & Lomb from 2010 until its acquisition by Valeant
Pharmaceuticals International, Inc. in 2013 and served on the board
of Valeant Pharmaceuticals from 2013 to 2014. Mr. Hassan
received an undergraduate degree from Imperial College of Science
and Technology, University of London and a master’s degree in
business administration from Harvard Business School.
Mr. Hassan added, “Prometheus has great potential to disrupt the
immune-mediated disease space and industry as a whole. I’m
impressed with their clinical-stage pipeline, the Prometheus360TM
platform, as well as their strong financial position following
their recent IPO. I look forward to working closely with the
Prometheus leadership and board as they transform patients’ lives
by applying their precision approach to IBD and beyond.”
About Prometheus Biosciences
Prometheus Biosciences, Inc. is a clinical-stage biotechnology
company pioneering a precision medicine approach for the discovery,
development, and commercialization of novel therapeutic and
companion diagnostic products for the treatment and diagnosis of
immune-mediated diseases, starting first with IBD. The Company’s
precision medicine platform, Prometheus360TM, combines proprietary
bioinformatics discovery methods with one of the world’s largest
gastrointestinal bioinformatics databases to identify novel
therapeutic targets and develop therapeutic candidates to engage
those targets. Prometheus is headquartered in San Diego, CA.
Forward Looking Statements
Prometheus cautions readers that statements contained in this
press release regarding matters that are not historical facts are
forward-looking statements. These statements are based on the
company’s current beliefs and expectations. Such forward-looking
statements include, but are not limited to statements regarding
Prometheus’ pipeline, the Prometheus360 platform, and the company’s
potential in IBD and the broader immune-mediated disease space. The
inclusion of forward-looking statements should not be regarded as a
representation by Prometheus that any of its plans will be
achieved. Actual results may differ from those set forth in this
press release due to the risks and uncertainties inherent in our
business, including, without limitation: Prometheus’ approach to
the discovery and development of precision medicines based on
Prometheus360 is unproven; Prometheus’ ability to develop companion
diagnostics for its therapeutic product candidates; potential
delays in the commencement, enrollment and completion of clinical
trials and preclinical studies; Prometheus’ dependence on third
parties in connection with product manufacturing, research and
preclinical and clinical testing; unexpected adverse side effects
or inadequate efficacy of its product candidates that may limit
their development; Prometheus’ ability to maintain undisrupted
business operations due to the COVID-19 pandemic, including
delaying or otherwise disrupting its clinical trials, manufacturing
and supply chain; and other risks described in the company’s
prior press releases and filings with the Securities and
Exchange Commission (SEC), including under the heading “Risk
Factors” in Prometheus’ most recent quarterly report on Form 10-Q
and any subsequent filings with the SEC. You are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date hereof, and Prometheus undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date hereof. All
forward-looking statements are qualified in their entirety by this
cautionary statement, which is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
Investors:Noel KurdiVP Investor Relations and
Communications(646) 241-4400nkurdi@prometheusbiosciences.com
Media:Juniper PointAmy Conrad(858)
914-1962media@prometheusbiosciences.com
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