Alder BioPharma (ALDR) Appoints New CFO, PAO

October 11, 2016 8:06 AM EDT

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Alder BioPharmaceuticals, Inc. (Nasdaq: ALDR) announced the promotion of Larry Benedict to the position of Executive Vice President and Principal Accounting Officer. Mr. Benedict, who has served as Senior Vice President, Finance since 2013, will continue to oversee the company's financial operations and planning.

“Larry has been an integral member of the executive team that has transformed Alder from a private research and development-focused business to a publically listed, late-clinical stage company with a lead antibody therapeutic moving toward a Biologics License Application,” said Randall C. Schatzman, Ph.D., Alder’s President and Chief Executive Officer. “As we expand our operations to support this planned BLA filing for ALD403 for migraine prevention and, ultimately, if the product is approved, its commercialization, Larry will continue to be a key part of our strategic planning process towards that success. We intend to build a company known for discovering and developing transformative antibody therapies that is viewed as one of the foundational biotech businesses in the Pacific Northwest and industrywide.”

Prior to joining Alder, Mr. Benedict served in various finance positions with Seattle Genetics, Inc., from 2000 to 2008, most recently as Director of Finance and Controller. From 1998 to 2000, he was Chief Financial Officer at Sensible Solutions, Inc., a financial software consulting company. From 1997 to 1998, Mr. Benedict served as Finance Manager at SmithKline Beecham Clinical Laboratories, now Quest Diagnostics Incorporated. Before this, he held various finance roles at Bristol-Myers Squibb Company. Mr. Benedict holds a B.S. in Accounting from Central Washington University and is an active member of the Association of Bioscience Financial Officers.

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