Emergent BioSolutions Inc.: Emergent BioSolutions Announces Composition of Board of Directors of New Spin-Off Company Aptevo Therapeutics

Tickers: EBS
, (GLOBE NEWSWIRE) -- (NYSE:EBS) today announced the anticipated composition of the board of directors of , which is the name of Emergent's biosciences business proposed to be spun off into a separate, stand-alone, publicly-traded company. The directors would be appointed to their respective positions immediately prior to the planned tax-free spin-off, which is anticipated to be completed in mid-2016.

The Aptevo Therapeutics Board of Directors is intended to be comprised of seven directors, four of whom are expected to qualify as independent directors upon the spin-off:

  • , Ph.D.
  • , M.D.
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'The selection of the board of directors for Aptevo Therapeutics is an important milestone as we advance towards completing our separation into two independent, publicly-traded companies,' said , President and Chief Executive Officer of . 'Aptevo Therapeutics will benefit from the expertise of continuing board members as well as the fresh perspectives that the new directors will bring to pursue Aptevo's mission of providing novel oncology and hematology therapeutics to meaningfully improve patients' lives.'

Individual Biographies

The following are brief biographies of individuals who will serve on the Aptevo Therapeutics Board of Directors:

Mr. El-Hibri is the founder and Executive Chairman of the Board of Directors of . He served as Emergent's Chief Executive Officer since its inception in 1998 until 2012. For over two decades, Mr. El-Hibri served as Chairman of , a venture capital and business consulting firm. Mr. El-Hibri is the . He also serves on the boards of the and the as well as on the advisory board of the .

Mr. White will lead Aptevo Therapeutics as Chief Executive Officer. Mr. White is currently a member of Emergent BioSolutions' Board of Directors. He is the former Chief Financial Officer of St. Vincent's Health, a multi-hospital health system. Mr. White previously served as Executive Director and CFO of , a subsidiary of , and held other positions in corporate finance at . He serves on the boards of , , and

Mr. Abdun-Nabi is the President and Chief Executive Officer of , a position he has held since 2012 after serving in progressive executive leadership positions since joining the company in 2004. Mr. life sciences career began more than two decades ago, including serving as and its successor , and as SVP, Legal Affairs, General Counsel and Secretary of Mr. Abdun-Nabi serves on the board of directors of and

Mr. Grant is the VP of Medical Sales for , a global leader in pediatric nutrition that develops, manufactures, markets and distributes products in over 50 countries. He has held this position since 2011, preceded by 30 years of service at , and is responsible for Sales Force Operations, Professional Services, and . Mr. Grant is a board member of and , and has held previous board positions with and the .

Dr. Harsanyi has served on the board of since . He has previously served as Chairman of , CEO and Chairman of Exponential Biotherapies, and President of . Dr. Harsanyi is a founder of . Dr. Harsanyi directed the first assessment of biotechnology for the U.S. Congress' , served as a consultant to the President's in Medicine and and was on the faculties of Microbiology and Genetics at .

Ms. Kunz is currently the Global Chief Executive of DIA and is responsible for the leadership and oversight of global operations focused on driving innovation to improve the health of people worldwide. Previously, she has served as President of Health and Life Sciences at Battelle, Senior VP/GM for Thermo Fisher Scientific's Biosciences Business, and has led ICI/Uniqema's regional business. Ms. Kunz has held various board positions, including at , BioOhio, International Scientific Standards, Levitronix, and POCARED. She has served on the inaugural board of the and as a trustee of Nationwide Children's and Children's .

  • , M.D.
Dr. Niederhuber is the founder, Executive Vice President, and Chief Executive Officer of the . Previously, Dr. Niederhuber served as Director of the , where he also served as Chief Operating Officer and Chair of the . Dr. Niederhuber has dedicated his four-decade career to the treatment and study of cancer, with a clinical focus on gastrointestinal, hepatobiliary, and breast cancer. He is an Adjunct Professor of Oncology and Surgery at the and Director of the Johns Hopkins Clinical Research Network. Dr. Niederhuber has served as a director of since 2010.

About
is a global specialty biopharmaceutical company dedicated to one simple mission-to protect and enhance life. We develop, manufacture, and deliver a portfolio of medical countermeasures for biological and chemical threats as well as emerging infectious diseases. We also develop and commercialize therapeutics and other specialty products for hospitals and clinics in the areas of hematology/oncology, transplantation, infectious diseases and autoimmune disorders. Through our work, we envision protecting and enhancing 50 million lives with our products by 2025. Additional information about the company may be found at www.emergentbiosolutions.com. Follow us @emergentbiosolu.

Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including, without limitation, statements regarding the planned spin-off of our biosciences business, the timing of any such spin-off, the expected appointments of the spin-off company board of directors, and any other statements containing the words 'believes', 'expects', 'anticipates', 'intends', 'plans', 'forecasts', 'estimates' and similar expressions are forward-looking statements. These forward-looking statements are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.

There are a number of important factors that could cause the company's actual results to differ materially from those indicated by such forward-looking statements, including whether the planned spin-off of the biosciences business is completed, as expected or at all, and the timing of any such spin-off; whether the conditions to the spin-off can be satisfied; and general market and economic conditions. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the , when evaluating our forward-looking statements.

Investor Contact:

Vice President, Investor Relations
240-631-3280
BurrowsR@ebsi.com

Media Contact:

Vice President, Global Public Affairs
and Corporate Responsibility
240-631-3394
SchmittT@ebsi.com

Emergent BioSolutions Inc. issued this content on 2015-12-22 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-22 21:22:36 UTC

Original Document: http://investors.emergentbiosolutions.com/phoenix.zhtml?c=202582&p=irol-newsArticle&ID=2124792