Intercept Expands Its Board of Directors With Appointments of Sanj K. Patel
and Glenn Sblendorio
NEW YORK, Feb. 18, 2014 (GLOBE NEWSWIRE) -- Intercept Pharmaceuticals, Inc.
(Intercept or the Company) (Nasdaq:ICPT), a clinical stage biopharmaceutical
company focused on the development and commercialization of novel bile acid
therapeutics to treat chronic liver and intestinal diseases, today announced
the appointment of Sanj K. Patel and Glenn Sblendorio to the Company's Board
of Directors, effective immediately. Patel is currently the President and
Chief Executive Officer of Synageva Biopharma Corp. (Nasdaq:GEVA) and
Sblendorio is the President and Chief Financial Officer of The Medicines
Company (Nasdaq:MDCO).With these additions, Intercept's Board of Directors is
now comprised of nine directors.
"We feel very fortunate that Sanj and Glenn are joining the Board," said Mark
Pruzanski, M.D., President and CEO of Intercept. "They both have a proven
track record as successful company builders with particular strategic depth in
drug development, commercialization and finance. We look forward to benefiting
from their combined insights as we prepare for the anticipated commercial
launch of OCA and continue to build value across the company's pipeline."
At Synageva, Patel has led the effort to build a company that is focused on
developing and commercializing novel breakthrough therapies for patients with
rare diseases. He took Synageva public on the NASDAQ Global Market in November
2011 and has raised over $600 million in capital since 2009. Patel joined
Synageva from Genzyme Corporation (1999-2008) where most recently he was the
head of U.S. Sales, Marketing and Commercial Operations for Genzyme's
Lysosomal Storage Disorder franchise and led the U.S. launch of Myozyme, in
addition to having sales and marketing responsibility for Cerezyme, Fabrazyme
and Aldurazyme. Patel was also responsible for clinical operations and
development for all cross-business Genzyme products and was instrumental in
the path to commercialization for several treatments. He obtained his BSc with
Honors in Pure and Applied Biology (Biotechnology) from the University of the
South Bank, London and completed his post-graduate business and management and
research studies at Ealing College, London, and the Wellcome Foundation,
respectively. Patel is a member of the Board of Directors for the Sarcoma
Foundation of America.
Sblendorio has helped establish The Medicines Company as a leader in the
development and worldwide commercialization of acute and intensive care
therapies. He has been instrumental in building the company's global
infrastructure, as well as the execution of a series of successful financings
and acquisitions that have fueled the company's growth.Prior to becoming
President and CFO of The Medicines Company in February 2012, Sblendorio served
as its CFO and Executive Vice President from March 2006. Previously, he was
Executive Vice President and CFO of Eyetech Pharmaceuticals, Inc. (2002 -2005)
until it was acquired by OSI Pharmaceuticals, Inc. Sblendorio's
pharmaceutical experience also includes 12 years at Hoffmann-LaRoche, Inc., a
pharmaceutical company, in a variety of senior financial positions, including
Vice President, Finance of Roche Molecular Systems and head of finance and
controller for Amgen/Roche Europe. He currently serves as a director of Amicus
Therapeutics, Inc., and Ophthotech Corporation, both public biopharmaceutical
companies. Sblendorio received his B.B.A. from Pace University and his M.B.A.
from Fairleigh Dickinson University.
"The Board is thrilled to welcome Sanj and Glenn, and we look forward to
working with Mark and the entire Intercept team to help the company continue
to build value and succeed in its development programs for PBC, NASH and other
diseases with a high unmet need," said Jonathan Silverstein, Chairman of the
Board of Directors of Intercept.
Intercept is a biopharmaceutical company focused on the development and
commercialization of novel therapeutics to treat orphan and more prevalent
liver and intestinal diseases utilizing its expertise in bile acid chemistry.
The company's lead product candidate, obeticholic acid (OCA), is a bile acid
analog and first-in-class agonist of the farnesoid X receptor (FXR). OCA is
being developed for a variety of chronic liver diseases including primary
biliary cirrhosis (PBC), nonalcoholic steatohepatitis (NASH), portal
hypertension, bile acid diarrhea and primary sclerosing cholangitis (PSC). OCA
has received orphan drug designation in both the United States and Europe for
the treatment of PBC and PSC. Intercept owns worldwide rights to OCA outside
of Japan and China, where it has out-licensed the product candidate to
Dainippon Sumitomo Pharma. For more information about Intercept, please visit
the Company's website at: www.interceptpharma.com.
CONTACT: For more information about Intercept,
please contact Barbara Duncan or Senthil Sundaram,
both of Intercept Pharmaceuticals at 1-646-747-1000
Media inquiries: email@example.com
Investor inquiries: firstname.lastname@example.org
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