ROCKVILLE, Md., April 30, 2014 (GLOBE NEWSWIRE) -- MacroGenics, Inc. (Nasdaq:MGNX), a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases, today announced that it has appointed Atul Saran as Senior Vice President and General Counsel. Mr. Saran most recently held a leadership role at AstraZeneca as Vice President, Corporate Development and Ventures, and also chaired the MedImmune Ventures Investment Committee.
"Atul represents a terrific addition to MacroGenics' team, and we welcome his blend of legal, strategic and industry business expertise," said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. "His years of experience are well-suited to his new role as we continue to advance our suite of proprietary antibody-based platform technologies that our company has successfully leveraged into a rich pipeline of both MacroGenics-owned and partnered product candidates. Atul's legal and business expertise will help in the evaluation and execution of other opportunities to advance our company. Atul will be an extremely valuable member of our team moving forward and we are thrilled to have him join us at such an exciting time."
Prior to joining MacroGenics, Mr. Saran spent over a decade at AstraZeneca and MedImmune. Most recently, he was Vice President, Corporate Development and Ventures for AstraZeneca where he was responsible for strategy development, search, and evaluation of large-scale M&A, cross‐industry alliances and new ventures. He also had oversight responsibility for MedImmune Ventures and chaired its Investment Committee. Before that, he held several positions at MedImmune, including Senior Vice President, Corporate Development and Ventures, as well as Vice President and Deputy General Counsel. Notable highlights from his time at AstraZeneca/MedImmune include leading during MedImmune's response to the 2009 H1N1 influenza pandemic, engaging in the sale of MedImmune to AstraZeneca, raising an additional $100 million for MedImmune Ventures, and spearheading the strategy and execution for acquiring the programs that formed the core of MedImmune's pipeline, particularly its oncology immunotherapy and inflammation programs. Before joining MedImmune, Mr. Saran was a practicing attorney in the private equity/emerging business group at Hogan & Hartson, LLP in Washington, D.C.
Mr. Saran holds a J.D. from the University of Illinois College of Law and a B.S. in biological sciences from Stanford University. He is a member of the bar in the State of California and in the District of Columbia.
About MacroGenics, Inc.
MacroGenics is a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases. The Company generates its pipeline of product candidates from its proprietary suite of next-generation antibody technology platforms, which it believes improve the performance of monoclonal antibodies and antibody-derived molecules. The Company creates both differentiated molecules that are directed to novel cancer targets, as well as "bio-betters," which are drugs designed to improve upon marketed medicines. The combination of MacroGenics' technology platforms and antibody engineering expertise has allowed the Company to generate promising product candidates and enter into several strategic collaborations with global pharmaceutical and biotechnology companies. www.macrogenics.com
Cautionary Note on Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for the Company, including statements about the Company's strategy, future operations, clinical development of the Company's therapeutic candidates, milestone or opt-in payments from the Company's collaborators, the Company's anticipated milestones and future expectations and plans and prospects for the Company and other statements containing the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation and enrollment of future clinical trials, expectations of expanding ongoing clinical trials, availability and timing of data from ongoing clinical trials, expectations for regulatory approvals, other matters that could affect the availability or commercial potential of the Company's product candidates and other risk factors described in the Company's filings with the Securities and Exchange Commission, including those discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 20, 2014. In addition, the forward-looking statements included in this press release represent the Company's views as of the date hereof. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.
CONTACT: Jim Karrels, Vice President, CFO MacroGenics, Inc. 1-301-251-5172, firstname.lastname@example.org Karen Sharma, Vice President MacDougall Biomedical Communications 1-781-235-3060, email@example.com