SOURCE: ContraFect Corporation

ContraFect Corporation

November 21, 2013 15:30 ET

ContraFect Announces Management Team Changes

Office of the Chief Executive With Julia P. Gregory, Newly Appointed Chief Executive Officer, and Sol Barer, the Current Chairman

YONKERS, NY--(Marketwired - Nov 21, 2013) -  ContraFect Corporation announced that Ms. Julia P. Gregory was appointed interim Chief Executive Officer, succeeding Dr. Robert Nowinski, the founder of the Company, who has departed for medical reasons. The Company said its Board of Directors will undertake a search for a new Chief Executive Officer.

Ms. Gregory joins Dr. Sol Barer, Chairman of ContraFect Corporation, in a newly formed office of The Chief Executive. "I am delighted to have the opportunity to work more closely with Julia during this transitional period," said Dr. Barer. "Julia and the executive leadership team of ContraFect are well positioned to develop the Company's exciting and expanding discovery platform of antibody and protein therapeutics for infectious disease."

Ms. Gregory had been the Company's Executive Vice President and Chief Financial Officer since July 2012. Prior to joining ContraFect, Ms. Gregory was President and Chief Executive Officer of Five Prime Therapeutics, Inc., a clinical-stage biotechnology company discovering and developing innovative protein and antibody therapeutics. Before Five Prime, Ms. Gregory was Executive Vice President, Corporate Development and Chief Financial Officer of Lexicon Pharmaceuticals, Inc. She currently serves as a Director on the board of Clinipace, Inc. a dCRO, and on the board of The Global TB Alliance for Drug Development. Ms. Gregory received her B.A. from George Washington University's Elliott School of International Affairs, where she was elected to Phi Beta Kappa, and her M.B.A. from the Wharton School of the University of Pennsylvania.

Dr. Barer has served as a member of ContraFect's Board of Directors since April 2011 and Chairman of the Board of Directors since March 2012. Dr. Barer is the Managing Director of SJ Barer Consulting, LLC. He served as Chairman of Celgene Corporation ("Celgene") from January 2011 to June 2011 and as Executive Chairman from June 2010 to January 2011. Prior to that time, he served as Chief Executive Officer of Celgene from January 2006 to June 2010, as Chairman from January 2007 to June 2010, as President in 1993 and Chief Operating Officer and director in 1994. Dr. Barer serves on the boards of directors of Aegerion Pharmaceuticals, Inc., InspireMD Inc. (Chair), and Medgenics Inc. (Chair). He has previously served as Commissioner of the New Jersey Commission on Science and Technology and as Chairman of the University of Medicine and Dentistry of New Jersey Governor's Advisory Committee. Dr. Barer received a Ph.D. in organic chemistry from Rutgers University. 

About ContraFect
ContraFect Corporation is an IND-stage biotechnology company focused on development and commercialization of protein and antibody products for life threatening bacterial and viral infectious diseases, particularly those used in hospital-based settings. ContraFect's initial products include new agents to treat antibiotic-resistant infections such as MRSA (drug-resistant staphylococcus bacteria) and influenza. Its scientific and clinical strategy focuses on the use of combination therapies, where it believes that the Company's products will overcome high rates of mutation and resistance observed in microbes.

Safe Harbor Statement
This release contains forward-looking statements, and any statements other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events that involve risks and uncertainties. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including those associated with our ability to obtain additional funds, obtain and maintain all necessary patents and licenses, meet applicable regulatory standards and receive required regulatory approvals, manufacture or commercialize our products at reasonable costs and compete with other products and market our products in a profitable manner. We assume no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

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