Full Press Release Details
Genetics Board of Directors Names B.G. Susan Robinson as President and
H. Stewart Parker, President and Chief Executive Officer and Barrie J. Carter,
PhD, Executive Vice President and Chief Scientific Officer Step Down -
Wash., November 10, 2008-
Targeted Genetics Corporation (NASDAQ: TGEN) announced today that H. Stewart
Parker, President, Chief Executive Officer and Barrie J. Carter, PhD, Executive
Vice President and Chief Scientific Officer have resigned effective November
2008. Ms. Parker remains on the Board of Directors. The Board of Directors
appointed B.G. Susan Robinson, as the Company's President and Chief Executive
Officer. Ms. Robinson joined Targeted Genetics in March 2000 and previously
served as Vice President of Business Development.
behalf of the Board, I would like to express our genuine thanks to and esteem
for Ms. Parker and Dr. Carter for their dedication and perseverance through
very gratifying and challenging times," said Jeremy
Curnock Cook, Chairman of the Board. "Over the past seventeen years Ms. Parker
and Dr. Carter have pioneered the development of gene transfer from the lab
bench towards commercialization, and were responsible for the first clinical
trials conducted using AAV. They have also played critical roles in the general
development of the field through their work with FDA committees and the
Biotechnology Industry Organization."
I look forward to taking on new challenges, I am honored to have worked with
some of the best and brightest people in the industry and am proud of the
scientific and clinical achievements we have made here to advance and validate
the potential of gene therapy," said Ms. Parker. "I wish the entire Targeted
Genetics team great success in continuing the important work we have achieved
of this decade, Ms. Robinson has led licensing and partnering activities
Targeted Genetics. In this role, she has been integrally involved in strategic
transaction activities, corporate development and all aspects of the strategic
planning function for the Company. "I
welcome the opportunity to work with our board, employees and collaborators
capitalize on the opportunity we have to create real value from our leading-edge
AAV technology. We will be intently focused on efforts to extend our cash
horizon in order to advance development of our innovative, robust pipeline
ultimately bring to market our exciting product opportunities," said Ms.
full confidence in Ms. Robinson and the rest of the team as we work to advance
our valuable platform and product pipeline," said Jeremy Curnock
joining Targeted Genetics, Ms. Robinson was Director, Business Development
Genzyme Molecular Oncology, part of Genzyme Corporation. In her business
development roles, she has completed multiple corporate and academic technology
licenses, sponsored research agreements, and product development collaboration
agreements. Prior to Genzyme, and over a nine-year period, Ms. Robinson held
increasingly responsible positions in corporate development and corporate
communications for Immulogic Pharmaceuticals Corporation and T-Cell Sciences,
Inc. (now Celldex). Ms. Robinson is a graduate of Yale University.
Parker managed Targeted Genetics' formation as a wholly owned subsidiary of
Immunex Corporation in 1989 and has served as Targeted Genetics' president,
chief executive officer and a director since that time. Dr. Carter served
Targeted Genetics' executive vice president since August 1992 and as Targeted
Genetics' chief scientific officer since January 2001.
Targeted Genetics Corporation
Genetics Corporation is a biotechnology company committed to the development
innovative, targeted molecular therapies for the prevention and treatment
acquired and inherited diseases with significant unmet medical need. Targeted
Genetics' proprietary Adeno-Associated Virus (AAV) technology platform allows it
to deliver genes that encode proteins to increase gene function or RNAi to
decrease or silence gene function. Targeted Genetics' product development
efforts target inflammatory arthritis, AIDS prophylaxis, congestive heart
failure, Huntington's disease and Leber's congenital amaurosis. To learn more
about Targeted Genetics, visit Targeted Genetics' website at www.targetedgenetics.com.
Harbor Statement under the Private Securities Litigation Reform Act of
release contains forward-looking statements regarding the Company's liquidity
and financial resources, its ability to fund ongoing and future operations
its business strategy and product development, including statements regarding
the Company's ability to extend its cash horizon, advance the its platform
product pipeline and create value from its product candidates and other
statements about the Company's plans, objectives, intentions and expectations.
These statements involve current expectations, forecasts of future events
other statements that are not historical facts. Inaccurate assumptions and
and unknown risks and uncertainties can affect the accuracy of forward-looking
statements. Factors that could affect actual future events or results include,
but are not limited to, the
risk that the Company will run out of cash earlier than expected, the risk
the Company will not be able to raise capital or secure other financial
resources in the near term, the risk that the Company's research and development
programs are not successful or are delayed or terminated, the risk that payments
anticipated by the Company under product development collaborations and
contracts are not earned or received when expected or at all, and the risk
the Company will not be able to maintain its listing on the NASDAQ Capital
well as other risk factors described in its filings with the Securities and
Exchange Commission (SEC), including in "Item 1A. Risk Factors" in the Company's
most recent quarterly report on Form 10-Q for the quarter ended September
2008 filed with the SEC. You should not rely unduly on these forward-looking
statements, which apply only as of the date of this release. The Company
undertakes no duty to publicly announce or report revisions to these statements
as new information becomes available that may change the Company's