Healthcare Industry News: CV Therapeutics
News Release - October 12, 2006
MAP Pharmaceuticals Appoints New Chief Financial OfficerMOUNTAIN VIEW, Calif., Oct 12 (HSMN NewsFeed) -- MAP Pharmaceuticals, Inc. a leading developer of novel drug therapies, today announced the appointment of Christopher Y. Chai to the position of Chief Financial Officer.
Mr. Chai has spent over 15 years in the healthcare and banking industries and brings with him experience in finance, strategy and operations. He will be responsible for overseeing MAP Pharmaceuticals' finance, accounting and investor relations functions.
Mr. Chai joins MAP Pharmaceuticals from CV Therapeutics, Inc. where he spent the last eight years holding positions of increasing responsibility, most recently serving as Vice President for Treasury and Investor Relations. While at CV Therapeutics, Mr. Chai played a key role in capital raising transactions, including successfully raising approximately $1.5 billion in numerous financings. In addition to raising capital, Mr. Chai contributed to the development of business strategy, executed strategic financial transactions and managed relations with the analyst and investor communities. Prior to CV Therapeutics, Mr. Chai was a healthcare investment banker at JP Morgan where he worked on capital raising, including initial public offerings, and M&A and advisory transactions for a range of healthcare clients.
"We are fortunate to have Chris join MAP Pharmaceuticals in this key position," said Timothy S. Nelson, CEO of MAP Pharmaceuticals. "Chris brings a wealth of strategic and financial experience to MAP Pharmaceuticals. Chris also has experience transitioning a company from a research and development to a commercial organization. His combination of financial management skills, strong banking background, and excellent reputation in the investment community will be particularly valuable as we continue to grow and put forth our efforts to commercialize our products."
Mr. Chai received his Bachelors of Science degree in Operations Research and Industrial Engineering from Cornell University.
About MAP Pharmaceuticals
Located in Mountain View, California, MAP Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development of novel drug therapies. MAP Pharmaceuticals has two programs in Phase 2 clinical development. The company is developing a proprietary formulation of inhaled DHE for the potential rapid treatment of migraine and a proprietary formulation of nebulized budesonide for the potential treatment of asthma in both pediatric and adult populations. Additional information about MAP Pharmaceuticals can be found at http://www.mappharma.com .
Source: MAP Pharmaceuticals
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