Healthcare Industry News: Compugen
News Release - February 23, 2015
Compugen Expands and Strengthens Business Development TeamFelix Karim, PhD, joins Company as Vice President Corporate & Business Development
TEL AVIV, Israel--(Healthcare Sales & Marketing Network)--Compugen Ltd. (NASDAQ: CGEN) today announced the appointment of Dr. Felix Karim as Vice President Corporate & Business Development, effective March 2, 2015. Dr. Karim, who will be based at Compugen’s South San Francisco facilities, will report to Dr. Anat Cohen-Dayag, Compugen’s President and Chief Executive Officer, and will have direct responsibility for the Company’s business development strategy and its execution.
Dr. Cohen-Dayag, President and CEO of Compugen, stated, “We are very pleased to welcome Felix to Compugen’s senior management team. Felix brings to Compugen substantial experience and accomplishments in a range of biopharma companies, from start-ups to leading public companies, initially as a senior scientist and project leader, and later as an executive with broad responsibilities in both R&D and business development. We are excited to have the benefit of his experience and capabilities as we evaluate a number of potential collaboration options to maximize the value of our attractive early stage target pipeline and our unique, broadly applicable predictive discovery capabilities.”
Dr. Karim has significant experience in the biopharmaceutical industry and has held various executive roles in business development and R&D management. His most recent position prior to joining Compugen was Head of External R&D (licensing) for the San Francisco region at Amgen. Before Amgen, Dr. Karim was Vice President of Business Development at KAI Pharmaceuticals, where he led business development and transaction activities, including the sale of KAI Pharmaceuticals to Amgen. Dr. Karim has also held various positions at Exelixis and Celera Genomics, leading multidisciplinary teams across a broad range of activities in R&D and program development, and has played an integral role in business development efforts that resulted in significant pharma partnerships. Dr. Karim holds a bachelor’s degree in biochemistry from the University of California, Berkeley, and a PhD from the Department of Human Genetics at the University of Utah Medical School.
Compugen is a leading drug discovery company focused on monoclonal antibodies and therapeutic proteins to address important unmet needs in the fields of oncology and immunology. The Company utilizes a broad and continuously growing integrated infrastructure of proprietary scientific understandings and predictive platforms, algorithms, machine learning systems and other computational biology capabilities for the in silico (by computer) prediction and selection of novel drug target candidates, which are then advanced in its Pipeline Program. The discovery and development of monoclonal antibody therapeutic candidates against selected Compugen-discovered novel target candidates is performed by Compugen’s wholly-owned U.S. subsidiary located in South San Francisco. The Company's business model includes collaborations covering the further development and commercialization of product candidates at various stages from its Pipeline Program and various forms of research and discovery agreements, in both cases providing Compugen with potential milestone payments and royalties on product sales or other forms of revenue sharing. For additional information, please visit Compugen's corporate website at http://www.cgen.com/.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of terminology such as “will,” “may,” “expects,” “anticipates,” “believes,” and “intends,” and describe opinions about future events and include statements related to potential collaboration options to maximize the value of Compugen’s attractive early stage target pipeline and its unique, broadly applicable predictive discovery capabilities. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Some of these risks are: changes in relationships with collaborators; the inability to reach mutually agreeable terms and conditions with respect to potential new collaborations; the impact of competitive products and technological changes; risks relating to the development of new products; and the ability to implement technological improvements.
These and other factors are discussed in the "Risk Factors" section of Compugen’s most recent Annual Report on Form 20-F as filed with the Securities and Exchange Commission as well as other documents that may be subsequently filed by Compugen from time to time with the Securities and Exchange Commission. In addition, any forward-looking statements represent Compugen’s views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Compugen does not assume any obligation to update any forward-looking statements unless required by law.
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