ContraFect Names Sol Barer Chairman of the Board

YONKERS, NY -- (MARKET WIRE) -- 03/08/12 -- ContraFect Corporation announced today that Sol Barer, Ph.D. has been named the company's Chairman of the Board. Dr. Barer has been a director of ContraFect since 2011, and is taking over the role from Robert Nowinski, the company's founder and CEO.

"Sol agreeing to take on this additional responsibility is a big win for ContraFect," said Nowinski. "With Sol as our Chairman, ContraFect has a remarkable strategic leader who brings a wealth of experience regarding product development, scientific strategy and business strategy associated with building an international healthcare company."

Dr. Barer was 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 $32 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.

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 130 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.

About ContraFect:
ContraFect Corporation is a biotechnology company pioneering the use of Lysins and Monoclonal Antibodies 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 monotherapy to a combinatorial approach using multi-therapy antibody and Lysin treatments
  • 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.

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For more information, contact:
Barry Kappel, Ph.D., MBA
VP Business Development
Tel: 914-207-2300
E-Mail: Email Contact
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Source: ContraFect Corporation