Full Press Release Details
Therapeutics Announces Appointment of Larry Ellberger as Chairman of the
NEEDHAM, Mass.--(BUSINESS WIRE)--September 4, 2009--Celldex
Therapeutics, Inc. (NASDAQ: CLDX) announced today that Larry Ellberger
has been appointed Chairman of the Board of Directors, effective
September 3, 2009. Mr. Ellberger has been an independent member of the
Celldex Board of Directors since the merger in March 2008 between
Celldex and AVANT Immunotherapeutics, Inc., and was a member of the
AVANT Board since 2003. During his 30 years in the pharmaceutical and
biotechnology industries, Mr. Ellberger had served as Board member and
Chief Executive Officer of PDI, Inc., Chairman of the Board of Omrix
Biopharmaceuticals, Inc. (which was purchased by Johnson & Johnson in
2008), as well as held senior executive positions at W.R. Grace & Co.,
American Cyanamid Company and Powderject Ltd. In addition to his current
position as Founding Partner of HVA, a healthcare transaction advisory
firm, Mr. Ellberger is a Director of TransPharma Medical Ltd. and the
Jewish Children's Museum.
Charles R. Schaller will remain on the board as a director for the
remainder of his term. "Chuck has provided Celldex with tremendous
leadership over the years as its Chairman and we look forward to his
continued guidance as a member of our board," said Anthony Marucci,
President and Chief Executive Officer of Celldex. "We welcome Larry in
his new role as Chairman. As a board member, Larry has been deeply
involved in the recent growth and success of Celldex. His experience
within our industry will be critical as we advance our product
portfolio," continued Mr. Marucci.
Mr. Ellberger will remain as a member of the Audit Committee of the
Board of Directors, with George Elston becoming Chairman of the Audit
Committee as of September 3, 2009.
About Celldex Therapeutics, Inc.
Celldex Therapeutics is an integrated biopharmaceutical company that
applies its comprehensive Precision Targeted Immunotherapy Platform to
generate a pipeline of candidates to treat cancer and other
difficult-to-treat diseases. Celldex's immunotherapy platform includes a
complementary portfolio of monoclonal antibodies, antibody-targeted
vaccines and immunomodulators to create novel disease-specific drug
candidates. For more information, please visit http://www.celldextherapeutics.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: This release contains ``forward-looking
statements'' made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, including those related to the
Company's strategic focus and the future development and
commercialization of our programs and products. Forward-looking
statements reflect management's current knowledge, assumptions, judgment
and expectations regarding future performance or events. Although
management believes that the expectations reflected in such statements
are reasonable, they give no assurance that such expectations will prove
to be correct and you should be aware that actual results could differ
materially from those contained in the forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, including, but not limited to, our ability to close the
merger of our wholly-owned subsidiary with CuraGen Corporation; the
successful integration of the businesses, multiple technologies and
programs of CuraGen and Celldex; our ability to adapt APC Targeting
TechnologyTM to develop new, safe and effective vaccines
against oncology and infectious disease indications; our ability to
successfully complete product research and further development of our
programs; the uncertainties inherent in clinical testing; our ability to
manage research and development efforts for multiple products at varying
stages of development; Pfizer's and our strategy and business plans
concerning the continued development and commercialization of CDX-110;
the timing, cost and uncertainty of obtaining regulatory approvals; the
failure of the market for the Company's programs to continue to develop;
the inability to obtain additional capital; the inability to protect the
Company's intellectual property; the loss of any executive officers or
key personnel or consultants; competition; changes in the regulatory
landscape or the imposition of regulations that affect the Company's
products; and other risks detailed from time to time in the Company's
filings with the Securities and Exchange Commission, including the
Company's Form 10-K for the fiscal year ended December 31, 2008,
and its Forms 10-Q and 8-K.
Celldex Therapeutics, Inc.
Avery W. Catlin, 781-433-0771
BMC Communications Group
Matthew Driscoll, 212-477-9007