Healthcare Industry News: XOMA 052
News Release - October 14, 2009
XOMA Appoints Susan Kramer, Dr. P.H. Vice President of Project and Alliance ManagementBERKELEY, Calif., Oct. 14, 2009 -- (Healthcare Sales & Marketing Network) -- XOMA, Ltd (Nasdaq:XOMA ), a leader in the discovery and development of antibody therapeutics, announced today the appointment of Susan Kramer, Dr. P.H., to the position of Vice President, Project and Alliance Management. A seasoned biopharmaceutical executive with 25 years of industry experience at Genentech and two biotechnology companies and a strong focus on product development and alliance management, she will lead and direct the program management activities for XOMA 052, both strategic and operational, from clinical development through approval. She also will provide leadership to the company's project and alliance management group.
"We believe that XOMA 052 is a potentially transformational opportunity for XOMA that can lead to multiple therapeutic approaches in major indications and bring benefits to millions of patients with cardiovascular, diabetic and other diseases. Susan's addition is a key step in strengthening the management of this unique opportunity," said Steven Engle, Chairman and Chief Executive Officer of XOMA. "Susan brings to XOMA a variety of biological project management experiences including Actimmune(R), Raptiva(R), TNF-alpha and Relaxin. She also has demonstrated repeated success in forging and managing complex product development alliances with multiple international pharmaceutical companies."
Prior to joining XOMA, Dr. Kramer served as the Vice President of Development at Anesiva, Inc. where she led the development of Adlea(TM), a non-opioid analgesic. Prior to Anesiva, Susan co-founded Corthera, Inc., and led the development of Relaxin for use in congestive heart failure, orthodontics and preeclampsia. During her eighteen years at Genentech, Dr. Kramer served in a number of management positions including Senior Director of Bioanalytical Technology where she supervised a group of more than 100 scientists. As described above, she was the project champion and manager of a number of key Genentech projects with partners like Boehringer Ingelheim GmbH, Toray Industries, Daiichi Seiyaku and Fujisawa Pharmaceuticals.
Susan holds Master and Doctor of Public Health degrees in Biomedical Sciences from the University of California, Berkeley. She also received an M.A. in Education from Central Michigan University and a B.A. in Medical Technology, College of St. Scholastica, Duluth, Minnesota.
XOMA discovers, develops and manufactures therapeutic antibodies designed to treat inflammatory, autoimmune, infectious and oncological diseases. The Company's proprietary product pipeline includes XOMA 052, an anti-IL-1 beta antibody, and XOMA 3AB, a biodefense anti-botulism antibody candidate.
XOMA has multiple revenue streams resulting from the licensing of its antibody technologies, product royalties, development collaborations, and biodefense contracts. XOMA's technologies have contributed to the success of marketed antibody products, including LUCENTIS(R) (ranibizumab injection) for wet age-related macular degeneration and CIMZIA(R) (certolizumab pegol) for rheumatoid arthritis and Crohn's disease.
The company has a premier antibody discovery and development platform that incorporates its leading capabilities in library construction, proprietary antibody humanization and affinity enhancement and Bacterial Cell Expression (BCE) technologies. BCE is a key breakthrough biotechnology for the discovery and manufacturing of antibodies and other proteins. As a result, more than 50 pharmaceutical and biotechnology companies have signed licenses to our BCE technology.
In addition to developing its own products, XOMA develops products with premier pharmaceutical companies including Novartis AG, Schering-Plough Research Institute and Takeda Pharmaceutical Company Limited. XOMA has a fully integrated product development infrastructure and a team of approximately 190 employees at its Berkeley, California location. For more information, please visit http://www.xoma.com.
Certain statements contained herein concerning product development or that otherwise relate to future periods are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions that may not prove accurate. Actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry and for companies engaged in the development of new products in a regulated market.
These risks, including those related to inability to comply with NASDAQ's continued listing requirements; the declining and generally unstable nature of current economic conditions; the results of discovery and pre-clinical testing; the timing or results of pending and future clinical trials (including the design and progress of clinical trials; safety and efficacy of the products being tested; action, inaction or delay by the FDA, European or other regulators or their advisory bodies; and analysis or interpretation by, or submission to, these entities or others of scientific data); changes in the status of existing collaborative relationships; the ability of collaborators and other partners to meet their obligations; XOMA's ability to meet the demands of the United States government agency with which it has entered into its government contracts; competition; market demands for products; scale-up and marketing capabilities; availability of additional licensing or collaboration opportunities; international operations; share price volatility; XOMA's financing needs and opportunities; uncertainties regarding the status of biotechnology patents; uncertainties as to the costs of protecting intellectual property; and risks associated with XOMA's status as a Bermuda company, are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings. Consider such risks carefully when considering XOMA's prospects.
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