TARRYTOWN, N.Y., April 4, 2014 /PRNewswire/ -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced that it has elected Robert A. Ingram to its Board of Directors. Regeneron also announced that Dr. Eric Shooter, a co-founder of the Company, is retiring from the Board after nearly 26 years of service to Regeneron.
Mr. Ingram was nominated to become a member of Regeneron's Board by Sanofi. Under the terms of an investor agreement between Regeneron and Sanofi, Sanofi gained the right to nominate a single independent director to the Regeneron Board of Directors when it reached 20% ownership of Regeneron's total outstanding common stock and Class A stock. Sanofi recently reached this threshold.
"Bob Ingram is an experienced leader with a distinguished career in the pharmaceutical industry," said P. Roy Vagelos, M.D., Chairman of the Regeneron Board of Directors. "We are extremely pleased to add his expertise, which spans many decades across many senior functions within the industry, to our Board."
"I am delighted to be joining Regeneron at this exciting time in its history," said Mr. Ingram. "With three approved products, a broad pipeline of antibodies, and multiple near-term commercial opportunities, I look forward to helping Regeneron achieve its mission of delivering novel therapies to patients with unmet medical needs."
Mr. Ingram is a General Partner at Hatteras Venture Partners, a venture capital firm that invests in early stage life science companies. Prior to Hatteras, Mr. Ingram was Chief Executive Officer and Chairman of Glaxo/Wellcome. Mr. Ingram co-led the merger and integration that formed GlaxoSmithKline. Upon reaching the mandatory retirement age of 60, Mr. Ingram was asked to serve as the Vice Chairman, Pharmaceuticals at GSK. He remained in this role until January 1, 2010, at which time he became Strategic Advisor to the CEO of GlaxoSmithKline Plc. Mr. Ingram serves as the Lead Director of Valeant Pharmaceuticals and Cree, Inc. He is also a member of the Board of Directors of Edwards Lifesciences Corporation. He graduated from Eastern Illinois University with a Bachelor's degree in Business Administration.
Regeneron also announced that Dr. Eric Shooter, a co-founder of the Company, is retiring from the Board after nearly 26 years of outstanding service to Regeneron. Dr. Shooter has been a Professor at Stanford University School of Medicine since 1968 and was the founding Chairman of the Department of Neurobiology at Stanford University School of Medicine in 1975 and served as its Chairman until 1987. Dr. Shooter, a member of the National Academy of Sciences, is best known for characterizing the protein known as Nerve Growth Factor.
"Eric has been one of our longest serving non-employee directors and his dedication to Regeneron over the past 26 years has been deeply appreciated," said Dr. Vagelos. "We have valued Eric's leadership, intellect, and scientific acumen and would like to express our appreciation for his service."
About Regeneron Pharmaceuticals, Inc.
Regeneron is a leading science-based biopharmaceutical company based in Tarrytown, New York that discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions. Regeneron markets medicines for eye diseases, colorectal cancer, and a rare inflammatory condition and has product candidates in development in other areas of high unmet medical need, including hypercholesterolemia, oncology, rheumatoid arthritis, asthma and atopic dermatitis. For additional information about the company, please visit www.regeneron.com.
Regeneron Forward-Looking Statement
This news release includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron, and actual events or results may differ materially from these forward-looking statements. Words such as "anticipate," "expect," "intend," "plan," "believe," "seek," "estimate," variations of such words and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, the nature, timing, and possible success and therapeutic applications of Regeneron's products, product candidates, and research and clinical programs now underway or planned, including without limitation EYLEA® (aflibercept) Injection, sarilumab, alirocumab, and dupilumab; unforeseen safety issues resulting from the administration of products and product candidates in patients, including serious complications or side effects in connection with the use of Regeneron's product candidates in clinical trials; the likelihood and timing of possible regulatory approval and commercial launch of Regeneron's late-stage product candidates and new indications for marketed products; ongoing regulatory obligations and oversight impacting Regeneron's research and clinical programs and business, including those relating to patient privacy; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron's ability to continue to develop or commercialize Regeneron's products and product candidates; competing drugs and product candidates that may be superior to Regeneron's products and product candidates; uncertainty of market acceptance and commercial success of Regeneron's products and product candidates; the ability of Regeneron to manufacture and manage supply chains for multiple products and product candidates; coverage and reimbursement determinations by third-party payers, including Medicare and Medicaid; unanticipated expenses; the costs of developing, producing, and selling products; the ability of Regeneron to meet any of its sales or other financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license or collaboration agreement, including Regeneron's agreements with Sanofi and Bayer HealthCare, to be cancelled or terminated without any further product success; and risks associated with third party intellectual property and pending or future litigation relating thereto. A more complete description of these and other material risks can be found in Regeneron's filings with the United States Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2013. The reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update publicly any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.
SOURCE Regeneron Pharmaceuticals, Inc.