Avalon Pharmaceuticals, Inc. Names C. Eric Winzer New Chief Financial Officer
May 03 2007 - 7:30AM
PR Newswire (US)
Gary Lessing Resigns to Pursue Entrepreneurial Opportunities
GERMANTOWN, Md., May 3 /PRNewswire-FirstCall/ -- Avalon
Pharmaceuticals, Inc. (NASDAQ:AVRX), today announced that C. Eric
Winzer, 50, will become the company's new Chief Financial Officer
effective July 2, 2007. Mr. Winzer will succeed Gary Lessing, who
has chosen to leave the company to pursue entrepreneurial
opportunities. Mr. Lessing, Avalon's current Executive Vice
President and CFO, has been with the company since 2001. "We would
like to thank Gary for his contributions to Avalon," said Kenneth
C. Carter, Ph.D., President and CEO of Avalon. "Gary has played an
integral role in building Avalon into the company it is today. He
was instrumental in leading numerous strategic and financial
initiatives including helping to take Avalon public and completing
several important business development collaborations. We wish Gary
well in all of his future endeavors." "We are delighted to have
Eric join the Avalon team," said Dr. Carter. "His breadth of
experience and record of accomplishments including those as the
former CFO of Invitrogen will be invaluable as Avalon continues its
growth to the next level. In particular, Eric's background and
expertise in both operations and in the investment community,
gained while working in a large public company, will be a great
benefit to our company." Mr. Winzer was most recently with
Invitrogen Corporation (NASDAQ:IVGN), a provider of life science
technologies for disease research and drug discovery, from 2000 to
2006, where he served as Senior VP and Chief Financial Officer,
Executive Sponsor for Invitrogen's ERP implementation and VP,
Finance. From 1986 to 2000, Mr. Winzer held various positions of
increasing responsibilities at Life Technologies where he was the
Chief Financial Officer, Secretary and Treasurer, Corporate
Controller, Accounting Manager and Budget Manager. From 1980 until
1986 he held various financial positions at Genex Corporation. Mr.
Winzer received his B.A. in Economics and Business Administration
from McDaniel College and an M.B.A. from Mount Saint Mary's
University. About Avalon Pharmaceuticals Avalon Pharmaceuticals is
a biopharmaceutical company using its proprietary technology,
AvalonRx(R), to discover and develop cancer therapeutics. Avalon
has a lead product in Phase I clinical development (AVN944 - IMPDH
inhibitor), as well as preclinical programs to discover inhibitors
for the beta-catenin and aurora pathways now in late stage lead
candidate optimization. Avalon also has discovery programs on
modulators of survivin function and a drug discovery program
targeting the MYC oncoprotein, one of the most important and
previously intractable cancer targets. The company has value
generating partnerships with Merck, MedImmune, Medarex, and
Novartis. Avalon Pharmaceuticals was established in 1999 and is
headquartered in Germantown, Md. Safe Harbor Statement This
announcement contains, in addition to historical information,
certain forward-looking statements that involve risks and
uncertainties, in particular, related to progress in our drug
discovery programs and our collaborations, and clinical progress in
the development of AVN944. Such statements reflect the current
views of Avalon management and are based on certain assumptions.
Actual results could differ materially from those currently
anticipated as a result of a number of factors, risks and
uncertainties including the risk that the discovery programs and
collaborations may not be successful and that AVN944 will not
progress successfully in its clinical trials, and other risks
described in our SEC filings. There can be no assurance that our
development efforts will succeed, that AVN944 will receive required
regulatory clearance or, even if such regulatory clearance is
received, that any subsequent products will ultimately achieve
commercial success. The information in this Release should be read
in conjunction with the Risk Factors set forth in our 2005 Annual
Report on Form 10-K and updates contained in subsequent filings we
make with the SEC. Contacts: Avalon Pharmaceuticals, Inc. Russo
Partners, LLC David D. Muth Wendy Lau (Media) Executive Vice
President & Chief Business Officer Tel: (212) 845-4272 Tel:
(301) 556-9900 Fax: (301) 556-9910 The Trout Group LLC Email: Chad
Rubin (Investors) Tel: (646) 378-2947 DATASOURCE: Avalon
Pharmaceuticals, Inc. CONTACT: David D. Muth, Executive Vice
President & Chief Business Officer of Avalon Pharmaceuticals,
Inc., +1-301-556-9900, fax: +1-301-556-9910, ; or Wendy Lau (Media)
of Russo Partners, LLC, +1-212-845-4272; or Chad Rubin (Investors)
of The Trout Group LLC, +1-646-378-2947
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