Auburndale, MA — (SBWIRE) — 02/16/2012
“We are pleased to welcome Fred Frank to our company as a Special Advisor to our Board of Directors and as a member of our Business Advisory Board. He brings an unusual depth of experience as an entrepreneur, banker, and venture investor,” said Dan Poscover, CEO and Founder of PanGenX, Inc.
Fred Frank is currently Vice Chairman of Peter J Solomon, and is recognized as one of the principal “founders” of the biotechnology market. He began his investment banking career at Smith, Barney & Co. Inc., in 1958, where he attained the positions of Co-Head of Research, Vice President and Director. Subsequently, he joined Lehman Brothers, Inc. as a Partner in 1969. At Lehman, Fred Frank provided investment banking services to many of the leading companies in the pharmaceutical, biotechnology, healthcare services, medical device, and nutraceutical industries. He was involved in hundreds of financings, strategic alliances, and merger and acquisition transactions in the global healthcare industry.
“I am delighted to be a part of the PanGenX Business Advisory Board. The life sciences and health care delivery markets are at a clear inflection point as genomic data proliferates. Having a solution that can make sense of these data and provides meaningful decision-making tools to improve drug development and, ultimately, therapeutic care, will be invaluable today and long into the future,” said Fred Frank.
Fred Frank is well known for leading many of the most notable IPOs and mergers & acquisitions that have defined the biotech and pharmaceutical landscape over the past half century, including Marion Laboratories’ initial public offering and subsequent acquisition of the pharmaceutical division of Dow Chemical creating Marion Merrill Dow; Marion Merrill Dows merger with Hoechst to form Hoechst Marion Roussel, Inc; Synthelabo’s acquisition by Sanofi creating the second largest French pharmaceutical company; and Roche’s initial controlling investment in Genentech and its 1999 extension & modification.
Most recently, Fred Frank advised CV Therapeutics Inc. in its $1.4 billion sale to Gilead Sciences Inc.; BioDuro LLC, a China-based company in its sale to PPD, Inc.; TargeGen, Inc., in its sale to Sanofi-Aventis; CGI Pharmaceuticals, Inc. in its sale to Gilead Sciences, Inc. and OSI Pharmaceuticals Inc. in its sale to Astellas Pharma Inc.
Fred’s professional achievements and accolades include in 1997 receiving the Biotech Meeting at Laguna Niguel Hall of Fame Award for Special Recognition for an Individual; in 1998, being honored for Outstanding Contributions in the Field of Immunology by the Irvington Institute for Immunological Research; in 2004, receiving The Albert Einstein Award from the Weizmann Institute of Science; in 2006, receiving the Gilda’s Club of New York City Visionary Award; in 2007, being selected as the Top 100 Living Contributors to Biotechnology by Reed Elsevier; and in 2007 receiving the Award for Excellence from the American Liver Foundation.
“Fred’s unparalleled insights and expertise will undoubtedly advance PanGenX’s efforts to lead the adoption and realization of personalized medicine and pharmacogenetics,” said Dan Poscover.