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Five Prime Therapeutics Appoints Carol Schafer to its Board of Directors

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--

Five Prime Therapeutics, Inc. (FPRX), a clinical-stage biotechnology company focused on discovering and developing innovative immuno-oncology protein therapeutics, today announced the appointment of Carol Schafer to its Board of Directors. Ms. Schafer is an industry leader with more than 25 years of investment banking and equity capital markets experience in the biotechnology sector.

“We welcome Carol to our board and look forward to her contributions as we continue to build Five Prime by advancing our differentiated clinical pipeline, leveraging our discovery platform, and collaborating with our strategic alliance partners,” said Aron Knickerbocker, Chief Executive Officer of Five Prime Therapeutics. “Carol has a long-standing track record as a trusted strategic and financial advisor to the leadership teams of many biotech companies, and we are delighted to have her join our board.”

"I am impressed by the breadth of the pipeline, the management team and the progress Five Prime has made in executing on its clinical trials,” said Ms. Schafer. “I am delighted to be joining this dedicated and experienced team at such an exciting juncture in the life of the company.”

In addition to serving as a board member and the audit committee chair at Idera Pharmaceuticals, Ms. Schafer has built a diverse and successful career spanning executive leadership, finance and operations. In 2018, she retired from Wells Fargo Securities as Vice Chair of Equity Capital Markets where she helped to enhance the firm’s presence and brand in healthcare equity financing by overseeing 220 transactions that raised nearly $90 billion in proceeds. Prior to Wells Fargo Securities, Ms. Schafer was Vice President of Finance and Business Development at Lexicon Pharmaceuticals. Before joining Lexicon, Ms. Schafer was a Managing Director in Equity Capital Markets at JPMorgan where she was responsible for the origination and execution of primary and secondary equity offerings and other financings for healthcare, consumer and retail clients. Ms. Schafer received her B.A. from Boston College and her M.B.A. from the Stern Graduate School of Business of New York University.

About Five Prime

Five Prime Therapeutics, Inc. discovers and develops innovative protein therapeutics to improve the lives of patients with serious diseases. Five Prime’s product candidates have innovative mechanisms of action and address patient populations in need of better therapies. The company focuses on researching and developing immuno-oncology and targeted cancer therapies paired with companion diagnostics to identify patients who are most likely to benefit from treatment with Five Prime’s product candidates. Five Prime has entered into strategic collaborations with leading global pharmaceutical companies and has promising product candidates in clinical and preclinical development. For more information, please visit www.fiveprime.com or follow us on LinkedInTwitter and Facebook.

Cautionary Note on Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Five Prime's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Five Prime’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” contained therein. Except as required by law, Five Prime assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

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