Neurocrine Biosciences Announces the Appointment of Corinne H. Lyle to its Board of Directors
Wednesday June 9, 1:12 pm ET
I always gets so surprised when I am reminded how a new director can be elected by the sitting board in the US without any involvment whatsoever from the owners (i.e. the shareholders) of a company. After all the directors are sitting on the board to represent the shareholders' interests.
Having said that, the appointment of Ms Lyle is interesting. There was no finance person on the board until now. And now when Neurocrine's finances are in better shape than those of 95 % of their collegues in biotech and small speciality pharma they bring on someone like Lyle. Who seems to be very competent and bring a lot of experience.
I suppose this is not done just because she happens to be a nice person to have around. My guess would be that NBIX now will start to look seriously into the acquisition side of their business. Something they have said in the past that they will do, but which they haven't so far.
SAN DIEGO, June 9 /PRNewswire-FirstCall/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX - News) announced today that it has elected Corinne H. Lyle to its Board of Directors effective immediately. Lyle is the current Corporate Vice President, Chief Financial Officer and Treasurer of Edwards Lifesciences Corporation.
"We are fortunate to have a person of Corinne Lyle's caliber join our Board of Directors. Corinne brings operational finance and investment banking experience to the Board having conducted multiple transactions from the biotechnology, medical device, health care services and managed care fields within the health care industry," said Joseph A. Mollica, Ph.D., Chairman of the Board of Neurocrine Biosciences and Chairman, President and Chief Executive Officer of Pharmacopeia, Inc. "Her knowledge and expertise will be a valuable resource for Neurocrine's rapid growth into commercialization."
Lyle is currently responsible for global finance, information technology and investor relations at Edwards Lifesciences Corporation, a global leader in products and technologies to treat advanced cardiovascular disease and the world's leading heart valve company. She has been a member of the Board of Directors of Edwards from 2001 to 2003 before joining Edwards as CFO and also served on the Board of Directors of Sangstat Corporation, prior to their being acquired by Genzyme Corporation. Prior to joining Edwards in 2003, Lyle was Vice President and Chief Financial Officer of Tularik Inc., a biotechnology company, where she spent five years and successfully implemented their initial public offering and two subsequent follow-on offerings as well as being directly involved in technology acquisitions, strategic planning and the establishment of various business development partnerships. Lyle has also served as executive director of the Health Care Group at Warburg Dillon Read, Senior Vice President of the Health Care Group at Paine Webber, Inc, and Vice President of the Health Care Group at Kidder Peabody Inc. executing health care investment banking transactions in biotechnology, medical devices, diagnostics, health care services and managed care. |
