NRGN deal yesterday reminded me that nrgn had upgraded ceo's in 2001.
Neurogen Selects William Koster to Be Chief Executive Officer
BRANFORD, Conn., Sep 10, 2001 /PRNewswire/ --
- Has Comprehensive Scientific Background with 30 Years Experience -
Neurogen Corporation (Nasdaq: NRGN), one of the nation's leading drug discovery and development companies, today announced that its board of directors has appointed Dr. William H. Koster, a veteran pharmaceutical executive, to be its Chief Executive Officer. Koster, 57, succeeds Harry Penner, 56, who previously announced that he would retire when a successor was named. Koster's appointment is effective immediately.
Dr. Koster has more than 30 years experience developing and commercializing drugs with Bristol-Myers Squibb Company (BMS) and E.R. Squibb & Sons, Inc., which merged with Bristol-Myers in 1989. In his most recent position, Dr. Koster was Bristol-Myers' Senior Vice President for Science and Technology Strategy and Acquisition heading up the company's external science and technology, scientific intelligence, intellectual property strategy and science policy functions. He was based at Bristol-Myers' headquarters in Princeton, N.J.
Previously, Koster served as Senior Vice President for Drug Discovery for Bristol-Myers with worldwide responsibility for the discovery and advancement of Bristol-Myers' internal pipeline of drug candidates entering development. Significant accomplishments included more than doubling the output of drug discovery, while incorporating the most promising advances from emerging technologies such as genomics, informatics, high-throughput screening, and automated chemistry.
Frank C. Carlucci, Neurogen's board chairman, said that Koster's appointment marks a new chapter of growth for the company. "With two drug candidates in Phase II human testing and a burgeoning pipeline of new drug programs, Neurogen's fundamentals have never been better. The time is right for Koster, who brings the broad scientific knowledge and leadership strengths to propel Neurogen forward," he said.
Julian C. Baker and Barry M. Bloom, Ph.D, both members of Neurogen's Board of Directors, headed the CEO search. Baker, chairman of Neurogen's Executive Committee, is a managing partner of Baker/Tisch Investments, which represents Neurogen's largest shareholder. Bloom is former Executive Vice President, Research & Development, of Pfizer Inc.
Baker said of the appointment, "Bill Koster has distinguished himself over a long career as a scientist, pharmaceutical executive, team builder and leader. Bill brings the background we were searching for and comes to Neurogen at a critical time as several preclinical unpartnered programs are maturing."
Koster received a Ph.D in organic chemistry from Tufts University. He received a Bachelor of Arts degree in chemistry from Colby College.
Separately, Neurogen announced the promotion of Stephen R. Davis to Executive Vice President and Chief Business Officer. Mr. Davis, who joined Neurogen in 1994, was previously a senior vice president. Dr. Koster and Mr. Davis were also appointed to Neurogen's Board of Directors. |
