Gaithersburg, MD, December 8, 2000 -- MedImmune, Inc. (NASDAQ: MEDI) today announced the promotion of Dr. James F. Young to president, research and development and Michael Richman to senior vice president, corporate development and administration. Dr. Young will now be responsible for the integration of all product development activities across the spectrum from basic discovery to clinical research, as well as for the identification of new strategic research initiatives. Mr. Richman will be responsible for all business development, legal, intellectual property and project management activities.
"For the last 12 years, Jim has made innumerable contributions to the development of our product pipeline and he has been a key figure in the evolution of MedImmune as a leading biopharmaceutical company," said David M. Mott, MedImmune's chief executive officer. "His creativity, insight and keen intellect are among his greatest strengths, and his breadth of understanding of the biopharmaceutical industry is not easily paralleled."
James F. Young, Ph.D., has over 20 years of experience in the fields of molecular genetics, microbiology, immunology and pharmaceutical development. He joined MedImmune in 1989 as vice president, research and development. In 1995, he was promoted to senior vice president and in 1999 he was promoted to executive vice president, research and development. Throughout this period he has overseen the preclinical development of all products in MedImmune's pipeline, including the company's flagship product, Synagis® (palivizumab), which is the first and only monoclonal antibody approved for an infectious disease. Prior to MedImmune, Dr. Young was instrumental in building the department of molecular genetics at Smith Kline & French Laboratories. From 1978 to 1983, he was on the faculty of the department of microbiology at Mount Sinai School of Medicine in New York, NY. Dr. Young received his doctorate in microbiology and immunology from Baylor College of Medicine in Houston, Texas and bachelor of science degrees in biology and general science from Villanova University in Villanova, Pennsylvania.
Commenting on Mr. Richman, Mr. Mott said, "Mike has a voracious appetite for work and knowledge. He has been instrumental in our growth through his ongoing desire and ability to take on new and diverse areas of responsibility. He is one of MedImmune's key leaders with an unequaled willingness to mentor others, done with integrity and genuine interest in helping others achieve their highest potential."
For nearly two decades Michael S. Richman has been actively involved in the biotechnology industry. He joined MedImmune in 1996 as vice president, business development to help build the company's intellectual property, legal, business development and project management functions, all of which have grown to become key strategic assets of MedImmune. From 1985 to 1996, Mr. Richman held a number of leadership positions at Chiron Corporation, gaining valuable experience in a number of areas including research, intellectual property and business development. Mr. Richman started his career as a research scientist at Microgenics Corporation where he was instrumental in building a diagnostics company. Mr. Richman received his master of science degree in international business from San Francisco State University and his bachelor of science degree in genetics and molecular biology from the University of California at Davis.
Synagis® is a humanized monoclonal antibody marketed for the prevention of serious lower respiratory tract disease caused by respiratory syncytial virus in pediatric patients at high risk of RSV disease (see full prescribing information at www.medimmune.com/medimmune/products/ synagispi.htm).
MedImmune, Inc. is a fully integrated biotechnology company focused on developing and marketing products that address medical needs in areas such as infectious disease, immune regulation and cancer. Headquartered in Gaithersburg, Maryland, MedImmune has manufacturing facilities in Frederick, Maryland and Nijmegen, the Netherlands, and an oncology subsidiary in West Conshohocken, Pennsylvania. For more information on MedImmune, visit the company's website at www.medimmune.com.
This announcement may contain, in addition to historical information, certain forward-looking statements that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors, including risks and uncertainties discussed in the company's filings with the U.S. Securities and Exchange Commission. MedImmune cautions that RSV disease occurs primarily during the winter months; the company believes its operating results will reflect that seasonality for the foreseeable future. The company is also developing several products for potential future marketing. There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, even if such regulatory clearance were received, such products would ultimately achieve commercial success.