Exhibit 99.1
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1180 Veterans Blvd. |
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South San Francisco, CA 94080 |
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Main Phone: 650.624.1100 |
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FAX: 650.624.1101 |
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http://www.rigel.com |
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RIGEL PHARMACEUTICALS ANNOUNCES CHANGES TO BOARD OF DIRECTORS AND APPOINTS PETER S. RINGROSE, PH.D.
South San Francisco, Calif., February 3, 2005–– Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced that Peter S. Ringrose, Ph.D., has been nominated and appointed to the company’s board of directors, effective February 2, 2005, to serve as a Class I director until Rigel’s 2007 annual stockholders’ meeting. Dr. Ringrose currently serves as the Chairman of the Biotechnology and Biological Sciences Research Council (BBSRC), Britain’s lead funding agency for academic research and training in the non-medical life sciences. Simultaneously, Dr. Dennis Henner, general partner at MPM Capital, has resigned from the company’s board of directors.
“As former Senior Vice President of Research, and a member of the Executive Committee, Product Review Committee and Research Review Committee at Genentech, Dr. Henner brought extensive experience in the pharmaceutical industry to Rigel,” said James M. Gower, Rigel’s chairman and chief executive officer. “His dedication and insight have contributed significantly to the company’s success.”
Dr. Ringrose’s experience in the pharmaceutical industry spans more than 30 years and includes key leadership positions as Senior Vice-President for Worldwide Drug Discovery and Medicinal R & D Europe at Pfizer, Inc. and Division Director of Chemotherapy, Infectious Diseases and Molecular Sciences at the Sandoz Research Institute in Vienna, Austria. In 2002, Dr. Ringrose retired from Bristol-Myers Squibb, where he served as the company’s Chief Scientific Officer, as well as President of the Pharmaceutical Research Institute.
“Dr. Ringrose is a luminary in the life sciences arena, and we are delighted to bring someone of his stature and expertise to the Rigel team,” stated Mr. Gower. “Dr. Ringrose’s vast knowledge and insight will be invaluable as we continue to advance our novel drug candidates in the clinic.”
Dr. Ringrose has served on numerous scientific, corporate and educational advisory boards, including: Cambridge Antibody Technology, Accenture Life Sciences, Merlin Biosciences, the Centre for Medicines Research International, the Center for Advanced Biotechnology and Medicine New Jersey, University of Cambridge Chemistry Advisory Board and the Association of British Pharmaceutical Industries. Dr. Ringrose also serves on the Board of Governors for the New York Academy of Sciences and is a council member of the Foundation for Science and Technology in the United Kingdom. Dr. Ringrose was awarded both his Masters and his Ph.D. by the University of Cambridge.