- Expands Staff to Continue Record of Investment Success -
GAITHERSBURG, Md., Jan. 7 /PRNewswire/ -- MedImmune, the operationally
independent worldwide biologics unit of AstraZeneca plc (LSE: AZN.L,
NYSE: AZN), today announced that its highly successful venture capital fund,
MedImmune Ventures, will broaden its focus to include areas of strategic
interest to both organizations by adding the therapeutic areas of
cardiovascular and metabolic disease, pain and central nervous system
disorders and gastrointestinal disease. Traditionally, MedImmune Ventures has
focused its efforts on the areas of infectious disease, oncology and
inflammatory disease. Since its inception in 2002, MedImmune Ventures has
invested in 22 companies.
"We look forward to making meaningful investments in these additional
therapeutic areas," said Edward T. Mathers, executive vice president,
corporate development and venture, MedImmune. "Now that we are more fully
aligned with AstraZeneca's core areas of interest, we are able to help both
MedImmune and AstraZeneca to stay at the forefront of novel science with a
direct window to the most innovative start-ups in the biotechnology industry."
Mr. Mathers and MedImmune President & CEO David M. Mott currently lead
MedImmune Ventures. To accommodate the broader disease area focus, MedImmune
Ventures has added Maggie Flanagan LeFlore, Ph.D. and Eva M. Jack as managing
directors to its team of experts that oversee the assessment of all new
investment opportunities. Previously, Dr. LeFlore was on assignment from
AstraZeneca to the healthcare and life science venture investment team at
Advent International, and Ms. Jack was director, business development at
MedImmune. Also, Joseph L. Amprey, M.D., Ph.D. was promoted to managing
director of MedImmune Ventures following the June 2007 retirement of its
president, Wayne T. Hockmeyer, Ph.D. Franklin H. Top, M.D., who has been with
MedImmune since 1988 and is the company's former medical director/head of
clinical development, rounds out the MedImmune Ventures team as senior vice
About MedImmune Ventures
MedImmune Ventures is a corporate venture capital fund with $300 million
under management that invests in early-to late-stage, public or private
biopharmaceutical companies focused on discovering and developing human
therapeutics. The primary strategic areas of interest are antibodies and
peptides/proteins, other various biologics, small molecules and vaccines.
MedImmune Ventures will also examine investment opportunities related to new
technologies and programs related to translational sciences, and the
intersection between diagnostics and drug development. Investments range from
seed funding through public investments in private equity.
Created to promote entrepreneurship and to give MedImmune early access to
the newest companies and discoveries, MedImmune Ventures leverages a broad
base of internal resources with expertise ranging from R&D to marketing of
biologics and small molecules, which closely guide its investment strategies.
The fund has provided MedImmune with early exposure to new technologies and
therapeutic approaches and the opportunity to establish relationships that
have eventually led to R&D collaborations and acquisitions. Now as a part of
AstraZeneca, the fund will seek to continue implementing its investment plan
while broadening its investment interests and leveraging the parent company's
internal resources as well as its relationships with academic institutions,
other biotechnology companies and worldwide venture capital firms.
Parties interested in seeking funding should direct inquiries to
MedImmune strives to provide better medicines to patients, new medical
options for physicians and rewarding careers to employees. With approximately
3,000 employees worldwide and headquarters in Maryland, MedImmune is dedicated
to advancing science and medicine to help people live better lives and is
wholly owned by AstraZeneca plc (LSE: AZN.L, NYSE: AZN). For more information,
visit MedImmune's website at http://www.medimmune.com.
Forward Looking Statements
This press release contains certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995, with
respect to the operations, performance and financial condition of MedImmune, a
member of the AstraZeneca Group. These forward-looking statements reflect
management's current views and are based on current expectations and involve
risks and uncertainties and may be influenced by factors that could cause
actual outcomes and results to be materially different from those predicted.
The risks and uncertainties associated with the business of the AstraZeneca
Group are described in the reports and other documents filed by AstraZeneca
plc with the Securities and Exchange Commission. These forward-looking
statements are based on information currently available to AstraZeneca and
AstraZeneca undertakes no obligation to update any such forward-looking
statements included herein, except as otherwise may be required by applicable
law or regulation.
CONTACT: Media: Jamie Lacey, +1-301-398-4035; or Investors: Peter Vozzo,