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"We are very pleased to welcome Paul to Sangamo's board," stated EdwardLanphier, Sangamo's president and CEO. "His significant experience and successin biotechnology industry finance and business development will aid us in allaspects of our company's operations, including clinical and commercialdevelopment of our ZFP Therapeutic(TM) programs."
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Mr. Cleveland has served as executive vice president, corporatedevelopment and chief financial officer of Affymax, Inc. since January 2006.In such capacity, he has responsibility for all business development,strategic planning, finance, investor relations and legal functions. Henegotiated a worldwide collaboration with Takeda that was honored with the"Allicense 2007 Breakthrough Alliance Award" at the Recombinant CapitalAllicense conference. Mr. Cleveland also led preparations for and executionof Affymax's initial public offering of common stock which was characterizedas "the strongest biotech offering of 2006" by Business Week. Together thesetransactions added more than $230 million to Affymax's cash balance in oneyear.
From 2004 to 2006, Mr. Cleveland served as a managing director atIntegrated Finance, Ltd., an investment bank, and from 1996 to 2003 as amanaging director and head of west coast mergers and acquisitions at J.P.Morgan Chase and Co. (and a predecessor investment bank, Hambrecht & Quist).From 1981 to 1996, he held positions, including partner, at several law firmsincluding Cooley Godward LLP, Sidley Austin LLP and Davis Polk & Wardwell. Heserves as a member of the board of directors and is chairman of the auditcommittee of Anacor Pharmaceuticals, Inc. Mr. Cleveland holds a J.D. fromNorthwestern University School of Law and an A.B. from Washington Universityin St. Louis.
"I am excited to join the board of directors of Sangamo BioSciences atthis point in the company's development," commented Mr. Cleveland. "Sangamohas a successful business model designed to maximize the value of its ZFPtechnology platform by partnering non-core areas of its business as well aslooking to establish new corporate partnerships in core ZFP Therapeutics. Ilook forward to contributing my experience to help position the company forcontinued growth and success."
About Sangamo
Sangamo BioSciences, Inc. is focused on the research and development ofnovel DNA-binding proteins for therapeutic gene regulation and modification.The most advanced ZFP Therapeutic(TM) development program is currently inPhase 2 clinical trials for evaluation of safety and clinical effect inpatients with diabetic neuropathy and ALS. Other therapeutic developmentprograms are focused on cancer, HIV/AIDS, neuropathic pain, nerveregeneration, Parkinson's disease and monogenic diseases. Sangamo's corecompetencies enable the engineering of a class of DNA-binding proteins knownas zinc finger DNA-binding proteins (ZFPs). By engineering ZFPs thatrecognize a specific DNA sequence Sangamo has created ZFP transcriptionfactors (ZFP TF(TM)) that can control gene expression and, consequently, cellfunction. Sangamo is also developing sequence-specific ZFP Nucleases(ZFN(TM)) for gene modification. Sangamo has established strategicpartnerships with companies outside of the human therapeutic space includingDow AgroSciences, Sigma-Aldrich Corporation and several companies applying itsZFP technology to enhance the production of protein pharmaceuticals. For moreinformation about Sangamo, visit the company's web site athttp://www.sangamo.com.
This press release contains forward-looking statements regarding Sangamo'scurrent expectations. These statements are not guarantees of futureperformance and are subject to certain risks, uncertainties and assumptionsthat are difficult to predict. Factors that could cause actual results todiffer include the early stage of ZFP Therapeutic development, uncertaintiesrelated to the timing of initiation and completion of clinical trials, andwhether clinical trial results will validate and support the safety andefficacy of ZFP Therapeutics. Further, there can be no assurance that thenecessary regulatory approvals will be obtained or that Sangamo will be ableto develop commercially viable therapeutics. Actual results may differ fromthose projected in forward-looking statements due to risks and uncertaintiesthat exist in Sangamo's operations and business environments. These risks anduncertainties are described more fully in Sangamo's' Annual Reports on Form10-K and Quarterly Reports on Form 10-Q as filed with the Securities andExchange Commission. Forward-looking statements contained in this announcementare made as of this date and will not be updated.
SOURCE Sangamo BioSciences, Inc.
