Exhibit
1
XOMA
Appoints Fred Kurland as Chief Financial Officer
BERKELEY,
Calif., Jan 5, 2009 (GlobeNewswire via COMTEX News Network) -- XOMA, Ltd.
(Nasdaq:XOMA), a leader in the discovery and development of antibody
therapeutics, announced today the appointment of Fred Kurland to the position of
Vice President, Finance and Chief Financial Officer (CFO). In that position, Mr.
Kurland will be responsible for directing XOMA's financial strategy, accounting,
financial planning and investor relations functions.
"Fred is
a seasoned financial executive with over 30 years of experience in biotechnology
and pharmaceutical companies including Aviron/MedImmune, Protein Design Labs and
Syntex/Roche," noted Steve Engle, Chairman and CEO of XOMA. "He will be a very
valuable addition to XOMA's executive team, particularly as our anti-IL-1 beta
blocker XOMA 052 advances into Phase 2 trials."
Prior to
joining XOMA, Mr. Kurland served as CFO of Bayhill Therapeutics, Inc., Corcept
Therapeutics Incorporated and Genitope Corporation. From 1998 to 2002, Mr.
Kurland served as Senior Vice President and CFO of Aviron, acquired by MedImmune
for $1.5 billion in 2001 and developer of FluMist. From 1996 to 1998, he was
Vice President and CFO of Protein Design Labs, Inc., an antibody design company,
and from 1995 to 1996, he served as Vice President and CFO of Applied Immune
Sciences, Inc.
Mr.
Kurland held a number of financial management positions at Syntex Corporation, a
$2.1 billion pharmaceutical company acquired for $5.3 billion by Roche,
including Vice President and Controller between 1991 and 1995. He received his
J.D. and M.B.A. degrees from the University of Chicago and his B.S. degree from
Lehigh 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.
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Novelli
Life Sciences for XOMA
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Media
& Investors Contact:
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Carolyn
Hawley
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619-849-5375
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chawley@pnlifesciences.com
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