ROCKVILLE, Md., June 23 /PRNewswire/ -- MacroGenics, Inc. announced today that Mr. Paulo F. Costa has been elected to the company's Board as an independent director. Mr. Costa is the former President and Chief Executive Officer of Novartis U.S. Corporation. With more than 35 years of experience in operations and commercialization in the pharmaceutical industry, Mr. Costa brings valuable expertise to the MacroGenics Board.
"We are privileged to have Mr. Costa join MacroGenics' Board of Directors. As an established leader in the pharmaceutical industry, Mr. Costa has the ideal background to work with the management team at MacroGenics as the company matures toward commercializing its pipeline of product candidates. His proven skills in operations and commercialization will be a tremendous asset to MacroGenics," commented Scott Koenig, M.D., Ph.D., President and CEO.
"I am excited to have the opportunity to work closely with such a talented management team and respected group of investors and directors at MacroGenics," said Mr. Costa. "I was drawn to the company's impressive range of fully-integrated capabilities for the development of biologics. I believe that MacroGenics has one of the best monoclonal antibody therapeutics programs, including a rich pipeline of product candidates and differentiated technology platforms."
In addition to President and Chief Executive Officer of Novartis U.S. Corporation, Mr. Costa held a number of other roles at Novartis, including Head of the Americas, and President and Chief Executive Officer of Novartis Pharmaceuticals Corporation, Novartis' largest pharmaceutical business. He was responsible for the entire General Medicine business in North and Latin America. And under Mr. Costa's leadership, the pharmaceutical business achieved compounded annual double-digit growth and gained substantial market share. Prior to joining Novartis, Mr. Costa worked at Johnson & Joh
|SOURCE MacroGenics, Inc.|
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