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LONDON, UK / ACCESSWIRE / August 4, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Compugen Ltd (NASDAQ: CGEN), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CGEN. The Company announced on August 02, 2017, that its Board of Directors has appointed Paul Sekhri as a Director and Chairman of the Board. He will take over from his predecessor Martin Gerstel, who had announced his retirement from his position in February 2017. Paul's appointment is effective from October 02, 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Commenting on his appointment as Chairman, Anat Cohen-Dayag, PhD, President and CEO of Compugen said:
"Paul brings to Compugen over 30 years of experience in the life sciences industry and a proven track record in drug development, business development, and commercial strategy as well as extensive board and capital markets expertise. I look forward to benefitting from his leadership during this next exciting chapter of our corporate development, as we aim to leverage the opportunities offered by our predictive capabilities and novel pipeline and strive to maximize the value of our assets for the benefit of patients and our shareholders."
Paul Sekhri added:
"I am honored to have been given the opportunity to lead Compugen as its new Chairman. Compugen is an extraordinary Company with highly differentiated predictive discovery capabilities and an impressive therapeutic pipeline."
Profile of Paul Sekhri
Paul is a seasoned industry veteran with over 25 years' experience in pharma, biotech industries and in the investment community in Europe and US. He has held the leadership of increasing complexity and importance with some of the leading global pharmaceutical companies.
Paul is currently a Board member of Veeva Systems Inc. and the Chairman of the Board of Supervisory Directors at Pharming N.V. and Topas Therapeutics GmbH. He was also nominated as the Chairman of the Board of Petra Pharma and is on the Board of Directors of the TB Alliance.
Paul is also currently the CEO and President of Lycera Corp. since his appointment to the position in February 2015. Before joining Lycera, Paul was with Sanofi as their Senior Vice President, Integrated Care from April 2014 till January 2015. Prior to that he was with Teva Pharmaceutical Industries, Ltd and was their Group Executive Vice President, Global Business Development, and Chief Strategy Officer. Paul was the Operating Partner and Head of the Biotechnology Operating Group with TPG Biotech, the life sciences venture capital arm of TPG Capital, for five years before he joined Teva. In the period between 2004 and 2009, Paul founded Cerimon Pharmaceuticals, Inc. and was the President and CEO. Paul was the President and Chief Business Officer of ARIAD Pharmaceuticals, Inc. before his entrepreneurial stint. Prior to joining ARIAD, Paul was with Novartis. Paul started his tenure with Novartis as Global Head, Early Commercial Development, a department which he helped establish to ensure the differential competitive advantage of Novartis' pipeline. He was also responsible for developing the Disease Area Strategy for Novartis, so that the Company could identify and focus on specific therapeutic areas. He then moved on to other executive level positions like Senior Vice President, and Head of Global Search and Evaluation, Business Development, and Licensing for Novartis Pharma AG.
Paul completed graduate work in Neuroscience at the University Of Maryland School Of Medicine and holds a Bachelor's Degree in Zoology from the same University. Paul is also a music lover and a patron of arts and is the Vice Chairman of Young Concert Artists, Inc. and is on the Board of Trustees of Caramoor Center for Music and Arts. He is also an active member of the Patrons Council of Carnegie Hall.
Compugen has been working on developing new cancer immunotherapy treatments. Some of its drug candidates are at the stage of moving into clinical testing on human candidates. At the end of July 2017, Compugen signed an agreement with Bayer AG for the collaboration on research, development, and commercialization of potential drug candidates in immuno-oncology. Paul's vast experience in the biotech and pharma industry, as well as his network in the investment community, will be of great help for developing future growth strategies for Compugen. His guidance and leadership will help the Company in expanding its capabilities and add value for its investors.
Holon, Israel based Compugen is a genomics-based drug and diagnostic discovery Company that uses broadly applicable predictive discovery infrastructure to identify novel drug targets and develop first-in-class therapeutics in the field of cancer immunotherapy. Its advanced therapeutic pipeline consists of early-stage immuno-oncology programs, aimed at harnessing the immune system to eradicate cancer. The Company has R&D facilities in both Israel and South San Francisco, California.
Last Close Stock Review
At the close of trading session on Thursday, August 03, 2017, Compugen's stock price slipped 1.37% to end the day at $3.60. A total volume of 76.30 thousand shares were exchanged during the session. At Thursday's closing price, the stock's net capitalization stands at $184.08 million.
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