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Onyx Pharmaceuticals Announces Management Changes
Date:10/4/2007

EMERYVILLE, Calif., Oct. 4 /PRNewswire-FirstCall/ -- Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) today announced that Hollings C. Renton, the company's chief executive officer, plans to retire next year. Renton, 60, will remain chairman of the board of directors. As a result of his decision, the company is initiating a search for a successor. The company also announced the promotion of Laura A. Brege to the newly created position of executive vice president & chief operating officer and Randy A. Kelley to senior vice president of sales and marketing.

"With Nexavar established as an effective and well tolerated anti-cancer drug and with broad development and commercial plans in place, Onyx is poised to enter a new phase of corporate growth," said Renton. "After almost 15 years as CEO, it's the perfect time for me to relinquish my operating role so I can spend more time with my family. I am committed to the company and its continued success, and will remain closely involved until a successor is appointed, and subsequently as chairman."

Brege joined Onyx in June 2006 as executive vice president & chief business officer. In her new role as executive vice president & chief operating officer, Brege will be responsible for the sales and marketing, medical affairs, legal, business development, and compliance functions. Since arriving at Onyx, Brege has overseen the expansion of key corporate capabilities and strengthened Onyx's financial position by significantly adding to its cash reserves. Before joining Onyx, Brege was a general partner at Red Rock Management, a venture capital firm. Prior to Red Rock, she was the senior vice president and chief financial officer at COR Therapeutics. Earlier in her career, Brege
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SOURCE Onyx Pharmaceuticals, Inc.
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