Coronado Biosciences (CNDO) Names Lindsay A. Rosenwald as CEO

December 20, 2013 7:09 AM EST
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Coronado Biosciences (Nasdaq: CNDO) announced that Dr. Lindsay A. Rosenwald has been appointed Chairman, President, and Chief Executive Officer (CEO) of the Company, effective yesterday. Additionally, Mr. Michael S. Weiss has been appointed a director and Co-Vice Chairman of the Company's Board of Directors. Dr. Rosenwald, founder of the Company and a director since October 2009, has resigned as a member of the Board's Compensation Committee and Nominating and Corporate Governance Committee.

The Company also announced today the departure of Harlan F. Weisman, M.D., who served as a director of the Company since August 2012 and as its Chairman and CEO since December 2012. "We thank Harlan on behalf of the Company for his efforts and leadership and wish him much success in his future endeavors," said Dr. Rosenwald.

About Lindsay A. Rosenwald, MD

Dr. Rosenwald has served as a member of the Board since October 2009. Since 2009, Dr. Rosenwald has served as Co-Portfolio Manager and Partner of Opus Point Partners, LLC ("Opus"), an asset management firm in the life sciences industry. Prior to that, from 1991 to 2008, he served as the Chairman of Paramount BioCapital, Inc. Over the last 23 years, Dr. Rosenwald has acted as a biotechnology entrepreneur and been instrumental in the founding and recapitalization of numerous public and private biotechnology and life sciences companies. Dr. Rosenwald received his B.S. in finance from Pennsylvania State University and his M.D. from Temple University School of Medicine.

About Michael S. Weiss

Since 2009, Michael S. Weiss has served as Co-Portfolio Manager and Partner of Opus. In 2011, Mr. Weiss co-founded TG Therapeutics, Inc. (Nasdaq: TGTX), a publicly-traded biotechnology company focused on acquiring, developing and commercializing drugs for the treatment of b-cell malignancies. Mr. Weiss currently serves as TG's Executive Chairman, Interim CEO and President. Prior to 2009, Mr. Weiss was Chairman and CEO of Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) where he helped the company acquire and develop its lead drug Zerenex as well as executed a $100MM+ strategic alliance for Zerenex with JT Tobacco, Inc. and Torii Pharmaceutical Co., Ltd. Mr. Weiss began his professional career as a lawyer with Cravath, Swaine & Moore LLP in NYC. Mr. Weiss earned his J.D. from Columbia Law School and his B.S. in Finance from The University at Albany.

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