Exhibit
1
XOMA
Appoints John Varian to Board of Directors
BERKELEY,
Calif., December 11, 2008 – XOMA Ltd. (Nasdaq:XOMA), a leader in the discovery
and development of antibody therapeutics, announced today the addition of John
Varian to its Board of Directors. Varian currently serves as the Chief Operating
Officer and Chief Financial Officer of Aryx Therapeutics, a biopharmaceutical
company focused on the development of drugs designed to eliminate safety issues
with well-established, commercially successful drugs.
“John
brings over twenty-five years of finance and operations experience to XOMA’s
Board, and his experience in helping companies raise capital and negotiate
successful alliances and acquisitions will complement the background of our
other Directors,” said Steve Engle, CEO of XOMA. “We look forward to
collaborating with John as we push forward with our efforts in developing XOMA
052, creating new collaborations and license agreements and broadening our
biodefense capabilities.”
Mr.
Varian has served as Chief Operating Officer of Aryx Therapeutics since December
2003 and as its Chief Financial Officer since April 2006. Prior to
joining Aryx Therapeutics, Varian was the CFO of Genset S.A., where he was a key
member of the team negotiating the company’s sale to Serono S.A. in
2002. From October 1998 to April 2000, Varian served as Senior Vice
President, Finance and Administration of Elan Pharmaceuticals, Inc., joining the
company as part of its acquisition of Neurex Corporation. Prior to
the acquisition, he served as Neurex Corporation’s CFO from June 1997 until
October 1998. From 1991 until 1997, Varian served as the VP Finance and CFO of
Anergen Inc. Varian was an Audit Principal / Senior Manager at Ernst & Young
from 1987 until 1991 where he focused on life sciences. He is a founding member
of the Bay Area Bioscience Center and a former chairman of the Association of
Bioscience Financial Officers International Conference. Varian received a B.B.A.
degree from Western Michigan University.
About
XOMA
XOMA
discovers, develops and manufactures therapeutic antibody and other agents
designed to treat inflammatory, autoimmune, infectious and cancerous diseases.
The company's proprietary product pipeline includes XOMA 052, an anti-IL-1 beta
antibody, and XOMA 3AB, a biodefense anti-botulism antibody
candidate.
XOMA's
proprietary development pipeline is primarily funded by multiple revenue streams
resulting from the licensing of its antibody technologies, product royalties,
development collaborations and biodefense contracts. XOMA's technologies and
experienced team have contributed to the success of marketed antibody products,
including RAPTIVA(r) (efalizumab) for chronic moderate to severe plaque
psoriasis, LUCENTIS(r) (ranibizumab injection) for wet age-related macular
degeneration and CIMZIA(r) (certolizumab pegol) for Crohn's
disease.
The
company has a premier antibody discovery and development platform that
incorporates leading antibody phage display libraries and XOMA's proprietary
Human Engineering(tm) and bacterial cell expression and manufacturing
technologies. Bacterial cell expression (BCE) is a key breakthrough
biotechnology for the discovery and manufacturing of antibodies and other
proteins. As a result, more than 50 pharmaceutical and biotechnology companies
have signed BCE licenses.
In
addition to developing its own products, XOMA develops products with premier
pharmaceutical companies including Novartis AG, Schering-Plough Research
Institute and Takeda Pharmaceutical Company Limited. XOMA has a fully integrated
product development infrastructure, extending from pre-clinical science to
approval, and a team of 335 employees at its Berkeley location. For more
information, please visit http://www.xoma.com.
Certain
statements contained herein relating to product development, or that otherwise
relate to future periods, are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These statements are based on assumptions that may not
prove accurate. Actual results could differ materially from those anticipated
due to certain risks inherent in the biotechnology industry and for companies
engaged in the development of new products in a regulated market. These risks,
including those related to the results of discovery research and preclinical
testing; the timing or results of pending and future clinical trials (including
the design and progress of clinical trials; safety and efficacy of the products
being tested; action, inaction or delay by the FDA, European or other regulators
or their advisory bodies; and analysis or interpretation by, or submission to,
these entities or others of scientific data); uncertainties regarding the status
of biotechnology patents; uncertainties as to the cost of protecting
intellectual property; changes in the status of the existing collaborative and
licensing relationships; the ability of collaborators, licensees and other third
parties to meet their obligations; market demand for products; scale up and
marketing capabilities; competition; international operations; share price
volatility; XOMA's financing needs and opportunities; and risks associated with
XOMA's status as a Bermuda company, are described in more detail in XOMA's most
recent annual report on Form 10-K and in other SEC filings. Consider such risks
carefully in considering XOMA's prospects.
Contacts:
Media
& Investors Contact:
Carolyn
Hawley
Porter
Novelli Life Sciences for XOMA
619-849-5375
chawley@pnlifesciences.com