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8 November 2011, SEATTLE, Wa. & COLWORTH, UK - AmpliPhi Biosciences Corporation (APHB.PK), a leader in the development of bacteriophage-based anti-bacterial therapies, has announced the appointment of Philip J. Young as President and Chief Executive Officer (CEO).
Mr. Young, who is based in the US, is a long time executive in the biopharmaceuticals industry. He is the former president and CEO of Osteologix Inc., a global biopharmaceutical company, which is currently based in Ireland. He joined Osteologix in May 2007 and led the multinational company’s efforts to develop a novel therapy for osteoporosis which resulted in a global licensing deal with Servier Laboratories, a private French Pharmaceutical company. He remains on the Board of Directors of Osteologix Holdings Ltd.
Prior to joining Osteologix, Mr. Young held a number of senior executive positions with publicly traded biotechnology companies. From 2004-2007 he was with Insmed Inc., where he served as executive vice president and chief business officer. While at Insmed, Mr. Young led the successful launch and commercialization of a novel biologic growth hormone therapy and assisted the company in raising over $100 million to further the company objectives and expand the drug’s research pipeline to other diseases. Previously, Mr. Young served as president and chief operating officer at several biotechnology companies in the San Francisco Bay area. While serving as a Vice President at Neurex Pharmaceuticals, Mr. Young was a key member of the negotiating team that successfully sold Neurex to Elan for over $700 million.
Chairman of the Board Jeremy Curnock-Cook said, “Phil brings to AmpliPhi a history of significant and successful experience running multinational companies. He is a proven leader and will be an asset to the executive team and the Board, both in managing the operations of the Company and in developing a strategy that maximizes the potential of our bacteriophage-based platform technology.”
Mr. Curnock-Cook continued, "We believe that AmpliPhi is at an exciting stage of development with a pipeline of product opportunities, each having the potential to fill gaps where current antibacterial therapies fail. We believe we are well-positioned to establish the value of our technology platform through internal programs and external collaboration."
Mr. Young said, “I am very pleased to join the team at AmpliPhi and am excited by our potential to build on the Company's position as a leader in the field of phage-based therapy, specifically addressing bacterial resistance, an area of significant unmet medical need. We look forward to the next phase of development for AmpliPhi and capitalizing on new business opportunities to further expand the use and development of the Company’s bacteriophage technology.”
Edward Cappabianca, the former CEO of AmpliPhi, has left the Company and the Board of Directors to pursue other business interests. The Board wishes to thank him for his time and contribution to the Company.
AmpliPhi BioSciences Corporation, created in 2011 through the merger of Biocontrol Limited with Targeted Genetics Inc., is a biotechnology company dedicated to the development of innovative anti-bacterial solutions to improve human health through the application of its proprietary bacteriophage platform. The Company’s lead product development programs are targeting Gram-negative infections that are often resistant to existing antibiotic treatments. For more information, please visit http://www.ampliphibio.com.
This press release contains certain forward-looking statements that involve known and unknown risks, delays, uncertainties, and other factors not under the control of the AmpliPhi Biosciences Corporation. AmpliPhi Bioscience’s actual results, performance, or achievements may differ materially from those conveyed in such forward-looking statements. The factors that could cause actual results, performance or achievements to differ from the forward-looking statements include the possibility that the expected benefits from the Company’s acquisition of Biocontrol Ltd. will not be realized, or will not be realized within the anticipated time period; the risk that the combined businesses will not be integrated successfully; the risk that the Company’s current financial resources and future financial resources will be insufficient to enable the Company to fund continuing operations; and the risk that the Company and its licensee’s product development efforts will be unsuccessful. The Company is not subject to the reporting obligations of the Securities and Exchange Act of 1934 and, accordingly, is not required to file current or periodic reports with the Securities and Exchange Commission.
For further information please contact:
At the company:
Phil Young, CEO
Jeremy Curnock Cook, Chairman
Media enquires – College Hill Life Sciences
Rebecca Skye Dietrich
Melanie Toyne Sewell/Gemma Howe
+44 20 7457 2020
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