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Polaris Group Appoints Robert E. Hoffman as Chief Financial Officer
Date:3/15/2011

SAN DIEGO, March 15, 2011 /PRNewswire/ -- Polaris Group today announced the appointment of Robert E. Hoffman as chief financial officer.

Hoffman has joined Polaris from Arena Pharmaceuticals Inc., where he held senior financial positions for more than 13 years. Most recently, Hoffman was vice president of finance and chief financial officer. In his leadership roles, Hoffman contributed to the success of Arena's initial public offering in 2000 and other equity, debt and collaborative  transactions that totaled nearly $1.5 billion as Arena built a pipeline of drug candidates and completed a Phase 3 pivotal program for its lead candidate.

"Robert brings extensive financial management experience from a public, late-stage development company to Polaris Group at a pivotal time," said Bor-Wen Wu, Ph.D., president and chief executive officer of Polaris Group. "We are moving our lead project, ADI-PEG 20, into a Phase 3 trial in hepatocellular carcinoma as well as advancing multiple Phase 2 trials in other cancer types. In line with our clinical progress, we are expanding our management team as Polaris transforms into a late-stage clinical development company."

Hoffman currently serves as a member of the Financial Accounting Standards Board's small business advisory committee and the steering committee of the Association of Bioscience Financial Officers. In addition, he is a member and former president of the San Diego chapter of Financial Executives International and a director of the charitable organization Day For Change. Hoffman earned a bachelor's degree in business administration from St. Bonaventure University.

"I am excited about the opportunity to participate in Polaris' transformation into a late-stage company," said Hoffman. "Lead project ADI-PEG 20 represents a significant opportunity in the treatment of many cancer types. I look forward to working with the Polaris team to advance this promising drug candidate through its final
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SOURCE Polaris Group
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