Healthcare Industry News: Roche
News Release - October 21, 2009
NGM Biopharmaceuticals Appoints Dr. Arthur D. Levinson, Former Genentech CEO, to its Board of DirectorsSOUTH SAN FRANCISCO, Calif., Oct. 21 -- (Healthcare Sales & Marketing Network) -- NGM Biopharmaceuticals, Inc. (NGM), a private company dedicated to the discovery and development of novel biotherapeutics for the treatment of Type 2 diabetes and other metabolic diseases, today announced that Arthur D. Levinson, Ph.D., the Chairman of Genentech's Board of Directors, has been appointed to NGM's Board of Directors. Under Dr. Levinson's leadership as Chairman and Chief Executive Officer from 1995 to 2009, Genentech became a leading global therapeutics company that was widely recognized as the most innovative biotechnology company in the industry.
Founded in 2008, NGM has created a proprietary discovery platform and pipeline based on biological insights into the relationship between bariatric gastric bypass surgery and post-surgical resolution of Type 2 diabetes and other metabolic disorders. Dr. Levinson will join other distinguished advisors in guiding the Company's research, development and business strategies.
"NGM has the attributes and values that I believe are fundamental to building an innovative and sustainable biotechnology company," said Dr. Levinson. "The company's creative approach to scientific research should provide new insights into disease processes, and support the discovery of differentiated, clinically important medicines."
"Art's accomplishments and leadership during his thirty years at Genentech are legendary," said David V. Goeddel, Ph.D., NGM's Chairman and Chief Executive Officer. "His scientific and business acumen will be invaluable in shaping NGM's continued progress."
Dr. Levinson is currently the chairman of Genentech's Board of Directors, an advisor to Genentech's Research and Early Development center and a member of Roche's Scientific Resource Board. In addition, he will be nominated to the Board of Directors of Roche Holding Ltd. in March 2010. Among his significant commitments are his memberships on the Board of Directors of the Broad Institute of the Massachusetts Institute of Technology and the Board of Scientific Consultants of Memorial Sloan-Kettering Cancer Center.
Dr. Levinson is the recipient of numerous awards and honors, including the Irvington Institute's 1999 Corporate Leadership Award in Science, the National Breast Cancer Coalition's Corporate Leadership Award, Institutional Investor's Best Biotech CEO award, Princeton University's James Madison Medal for a distinguished career in scientific research and in biotechnology, Barron's designation as one of "The World's Most Respected CEOs" and the Best Practice Institute's "25 Top CEOs." Dr. Levinson also serves on the board of directors of Apple Inc.
About NGM Biopharmaceuticals
NGM Biopharmaceuticals, Inc. is a privately held drug discovery and development company dedicated to developing transformational medicines that significantly improve human health. NGM has devised a novel discovery platform, relying on human clinical and genetic observations, to identify and validate targets that impact the underlying etiology of disease. The Company's strategy is to focus on mining the complex biological interactions within the neuroendocrine gastrointestinal environment to elucidate the roles of previously unidentified or unexplored hormones, receptors and other metabolic factors that are involved in the systemic regulation of glucose homeostasis and that play causative roles in diseases.
NGM is generating a rich pipeline of new targets that the Company is using to develop novel treatments for metabolic diseases, such as obesity, muscle wasting and cardiovascular disease in addition to diabetes. Founded in 2008, NGM has world-class scientists and an accomplished executive team with broad experience in building and managing biotechnology companies. NGM is headquartered in South San Francisco, California. For more information, please visit the Company's website at http://www.ngmbio.com.
Source: NGM Biopharmaceuticals
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