AidsVax
fiasco ends as Dr Donald Francis quits VaxGen
"to start nonprofit body"
The failure of
AidsVax to prevent infection with HIV - in
clinical trial results published in 2003 -
triggered an intense debate about the
controversial product and its manufacturer,
VaxGen Inc of Brisbane, California. Mail to this
website, maintained by Brian Deer, shows that existing material on a
VaxGen-AidsVax index is read by significant
numbers. This page seeks to further inform the
discussion
VaxGen Announces Changes to
Management and Board
Tuesday January 20 2004, 5:00 pm ET
Executives to Pursue Foundation for HIV
Vaccine Development; Director Resigns After
Accepting Position at Amgen
BRISBANE, Calif., Jan. 20 2004
/PRNewswire-FirstCall/ -- VaxGen, Inc.
(Nasdaq: VXGN - News) announced today that
three of its senior executives will be
leaving the company to pursue the formation
of a not-for-profit foundation for the
advancement of HIV vaccine research and
development. VaxGen was formed in 1995 to
develop an HIV vaccine but has more recently
shifted its focus to other biologic products,
particularly biodefense vaccines.
Donald P. Francis, M.D., D.Sc., president,
and Phillip Berman, Ph.D., senior vice
president of Research and Development, will
leave the company as of February 1, 2004.
Francis and Berman are also stepping down
from the company's board of directors. Both
will remain as consultants to the company.
Carter A. Lee, senior vice president, Finance
and Administration, will join Francis and
Berman in pursuing the HIV vaccine foundation
but will stay with VaxGen long enough to
oversee the preparation of the company's 2003
financial statements and to provide an
orderly transition for an incoming chief
financial officer.A search for replacements
for Berman and Lee is underway.
"The departures of Don, Phil and Carter
are in keeping with their commitments to
develop an HIV vaccine and reflect the
evolution of VaxGen from an HIV vaccine
company to one with a broader product
portfolio and focus," said Lance K.
Gordon, Ph.D., chief executive officer.
"All of them made significant
contributions to VaxGen and leave the company
with our blessing and hopes for continued
success."
Francis said: "Developing an effective
HIV vaccine is an expensive and lengthy
process fraught with immense scientific
challenges. But given our experience with HIV
and the lessons we have learned during the
many years we have spent in vaccine
development, Phil, Carter and I believe that
we can make an important contribution to the
field. Our goal is to form a not-for-profit
foundation to fund the most promising HIV
vaccine candidates for developing countries
where the disease takes a disproportionate
toll on human life."
Separately, VaxGen announced that David W.
Beier, a member of the company's board of
directors since November 2001, has resigned.
Beier was required to relinquish his position
with VaxGen after recently accepting the
position of senior vice president, Global
Government Affairs, with Amgen, Inc. VaxGen
is undertaking a search for his
replacement."David was a valuable member
of our board and will be missed," Gordon
said. "We wish him well in his new
endeavor at Amgen."
About VaxGen
VaxGen, Inc. is a biopharmaceutical company
engaged in the development, manufacture and
commercialization of biologic products for
the prevention and treatment of human
infectious diseases. Based in Brisbane,
Calif., the company is developing preventive
vaccines against anthrax, smallpox and
plague. The company also is the largest
shareholder in Celltrion, Inc., a joint
venture formed to build operations for the
manufacture of biopharmaceutical products,
including VaxGen's product candidates.
Although the company is continuing to conduct
research on its HIV vaccine candidate,
AIDSVAX®, all such work is funded by
government grants, and the company does not
plan to undertake additional work on the
vaccine unless it is funded by similar means.
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