ContraFect Announces Appointment of Sol Barer to Board of Directors
NEW YORK, NY -- (MARKET WIRE) -- 02/22/11 -- ContraFect Corporation announced today that Sol Barer, Ph.D. has joined the company's Board of Directors. Dr. Barer has been the principal executive of Celgene Corporation, who over the past 25 years, has led Celgene to become the 3rd largest independent biotechnology company in the world and a member of the S&P500 with a current market capitalization exceeding $25 billion.
Celgene was spun out of Celanese Corporation in 1986, went public in 1987 and Dr. Barer assumed the Presidency in 1993. Subsequently, he became CEO in 2006 and Chairman of the Board of Directors in 2007. He assumed the position of Executive Chairman of the Corporation in June 2010 and as of January 2011 he returned to his present role as Chairman of the Board.
"Sol brings to ContraFect a wealth of experience regarding product development, scientific and business strategy, manufacturing, marketing and the building of an international company," said Robert Nowinski, CEO and Chairman of ContraFect. "With Sol, ContraFect acquires a remarkable strategic leader who shares common values that focus on the patient and the development of therapies for life threatening diseases."
The Board of Directors of ContraFect consists of Robert Nowinski, Ph.D., Sol Barer, Ph.D., Isaac Blech, Cary Sucoff, and David A. Scheinberg, MD, Ph.D. ContraFect is unique in that the five-member Board collectively has over 126 years of experience in the biotechnology industry, starting from its infancy. On an interpersonal level, many of the relationships between Board members have exceeded 25 years. In recruiting Dr. Barer to the Board of Directors, ContraFect used the team of Solit Tessler & Company.
ContraFect Corporation is a biotechnology company pioneering the use of monoclonal antibodies and lysins to treat life-threatening infectious diseases. Contrafect's initial products include agents to treat diseases such as MRSA (drug resistant staphylococcus bacteria), other serious bacterial infections, and influenza.
Our scientific approach is based on the following principles:
- Monoclonal antibodies for the treatment of life threatening bacterial and viral diseases
- Lysins for the treatment of drug-resistant gram positive bacteria, such as staphylococcus (MRSA), streptococcus and intestinal infections
- Transition from conventional mono-therapy to a combinatorial approach using multi-therapy antibody and Lysin treatments
- Address the growing challenge of drug resistance and therapy escape mechanisms used by pathogens
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein that do not describe historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward looking statements. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
For more information, contact: Barry Kappel, Ph.D., MBA VP Business Development Tel: 212-359-9552 E-Mail: Email Contact or visit: www.contrafect.com
Source: ContraFect Corporation
Released February 22, 2011