Agios Pharmaceuticals Appoints Paul J. Clancy to Its Board of Directors
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Agios Pharmaceuticals, Inc. (NAS: AGIO) , today announced the addition of Paul J. Clancy, executive vice president and chief financial officer at Biogen Idec, to the company's board of directors.
"As the CFO of a fully integrated, large cap biotechnology company, Paul brings invaluable experience to Agios following our successful IPO," said David Schenkein, M.D., chief executive officer at Agios. "We expect that his unique perspective and relevant industry experience will be immediately beneficial to our team, and we believe his insights as an independent director will be particularly valuable as we continue to mature as a company."
Mr. Clancy has more than 20 years of experience in financial management and strategic business planning. Mr. Clancy has served as the executive vice president and chief financial officer at Biogen Idec since August 2007. He also served as senior vice president of finance, with responsibilities for leading the treasury, tax, investor relations and business planning groups. Prior to the merger of Biogen and Idec, Mr. Clancy was the vice president of portfolio management at Biogen Inc. He joined the company in 2001 as vice president of U.S. marketing. Before Biogen Inc., Mr. Clancy spent 13 years at PepsiCo, serving in a variety of financial and general management positions, including vice president and general manager of their Great West Business Unit. Mr. Clancy has an MBA from Columbia Business School in New York City and received his B.S. in business administration from Babson College in Wellesley, Mass.
"Agios is seeking to build a truly differentiated company focused on promising research in cellular metabolism with potential to transform the lives of patients," said Mr. Clancy. "I am looking forward to working with David and the rest of the board and management team as they continue in their efforts to grow and advance their programs in cancer metabolism and inborn errors of metabolism."
About Agios Pharmaceuticals, Inc.
Agios Pharmaceuticals is focused on discovering and developing novel drugs to treat cancer and rare metabolic genetic diseases (known as inborn errors of metabolism or IEMs) through scientific leadership in the field of cellular metabolism. In addition to an active research and discovery pipeline across both therapeutic areas, Agios has multiple first-in-class lead product candidates in cancer metabolism and IEMs in clinical and preclinical development. All Agios programs focus on genetically identified patient populations leveraging our knowledge of metabolism, biology and genomics. For more information, please visit our website at www.agios.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding the expected benefits of Mr. Clancy's service on the Board of Directors of Agios and the Company's plans for growth and advancement of its programs. The words "believe," "expect" "could," "should," "will," "may" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such statements are subject to important risks and uncertainties that may cause actual events or results to differ materially from Agios' current expectations and beliefs, including the risks described under the caption "Risk Factors" in Agios' Quarterly Report on Form 10-Q for the quarter ended June 30, 2013 which is on file with the Securities and Exchange Commission (SEC), and other filings that Agios may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and Agios expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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