ROCKVILLE, Md., July 24 MD-Human-Genome-Board
ROCKVILLE, Md., July 24 /PRNewswire-FirstCall/ -- Human Genome Sciences,
Inc. (Nasdaq: HGSI) today announced that David P. Southwell has been appointed
to the HGS Board of Directors. He will also serve as a member of the
Company's Audit Committee. Until recently, Mr. Southwell was at Sepracor,
Inc., a research-based pharmaceutical company, where he served as Executive
Vice President and Chief Financial Officer, and also had responsibility for
Corporate Planning, Development and Licensing.
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"David Southwell brings more than twenty years of experience and
significant accomplishment to HGS in financial strategy, planning and business
development," said H. Thomas Watkins, President and Chief Executive Officer,
HGS. "We look forward to benefiting from David's experience and insight as we
continue our transformation into a fully commercial biopharmaceutical company.
We are pleased to welcome him to our Board."
During his fourteen-year tenure at Sepracor, Mr. Southwell advanced
through a series of senior management positions with increasing responsibility
in finance, corporate planning, development and licensing. He was responsible
for raising approximately $3 billion through public equity offerings and
private placements of convertible debt securities. Prior to joining Sepracor,
Mr. Southwell was Vice President, Investment Banking Division, at Lehman
Brothers in New York.
Mr. Southwell graduated from Rice University, and received his M.B.A. from
the Tuck School of Business at Dartmouth College. Mr. Southwell serves as
Chairman of the Board of Directors for BioSphere Medical, Inc. and is a member
of the Board of Directors of PTC Therapeutics, Inc. He is also Chairman of
the Tuck School of Business MBA Advisory Board and a member of the Tuck School
of Business "Investing for Excellence" Capital Campaign Steering Committee.
ABOUT HUMAN GENOME SCIENCES
The mission of HGS is to apply great science and great medicine to bring
innovative drugs to patients with unmet medical needs.
The HGS clinical development pipeline includes novel drugs to treat
hepatitis C, lupus, inhalation anthrax, cancer and other immune-mediated
diseases. The Company's primary focus is rapid progress toward the
commercialization of its two key lead drugs, Albuferon(R) (albinterferon
alfa-2b) for hepatitis C and LymphoStat-B(R) (belimumab) for lupus. Phase 3
clinical trials of both drugs are ongoing.
ABthrax(TM) (raxibacumab) is in late-stage development for the treatment
of inhalation anthrax, and the Company is on track to begin the delivery in
fall 2008 of 20,000 doses of ABthrax to the Strategic National Stockpile under
a contract entered into with the U.S. Government in June 2006. HGS also has
three drugs in clinical development for the treatment of cancer, including two
TRAIL receptor antibodies and a small-molecule antagonist of IAP (inhibitor of
apoptosis) proteins. In addition, HGS has substantial financial rights to
three products in the GSK clinical development pipeline.
For more information about HGS, please visit the Company's web site at
www.hgsi.com. Health professionals and patients interested in clinical trials
of HGS products may inquire via e-mail to clinical_trials@hgsi.com or by
calling HGS at (301) 610-5790, extension 3550.
HGS, Human Genome Sciences, ABthrax, Albuferon and LymphoStat-B are
trademarks of Human Genome Sciences, Inc.
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. The forward-looking
statements are based on Human Genome Sciences' current intent, belief and
expectations. These statements are not guarantees of future performance and
are subject to certain risks and uncertainties that are difficult to predict.
Actual results may differ materially from these forward-looking statements
because of the Company's unproven business model, its dependence on new
technologies, the uncertainty and timing of clinical trials, the Company's
ability to develop and commercialize products, its dependence on collaborators
for services and revenue, its substantial indebtedness and lease obligations,
its changing requirements and costs associated with facilities, intense
competition, the uncertainty of patent and intellectual property protection,
the Company's dependence on key management and key suppliers, the uncertainty
of regulation of products, the impact of future alliances or transactions and
other risks described in the Company's filings with the Securities and
Exchange Commission. In addition, the Company will continue to face risks
related to animal and human testing, to the manufacture of ABthrax and to FDA
concurrence that ABthrax meets the requirements of the ABthrax contract. If
the Company is unable to meet the product requirements associated with the
ABthrax contract, the U.S. government will not be required to reimburse the
Company for the costs incurred or to purchase any ABthrax doses, and we will
not receive any of the expected revenues relative to ABthrax. Existing and
prospective investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of today's date. Human Genome
Sciences undertakes no obligation to update or revise the information
contained in this announcement whether as a result of new information, future
events or circumstances or otherwise.
SOURCE Human Genome Sciences, Inc.
