EntreMed, Inc. (ENMD) Announces Appointment of New CEO and Changes to Board of Directors

EntreMed, a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer, recently announced that two new directors, James Huang and Y. Alexander Wu, Ph.D, have been appointed by the Board of Directors.

James Huang currently serves as Managing Partner of Kleiner Perkins Caufield Byers China and General Partner of KPCB China Fund II, LP, which invested in EntreMed’s previously announced registered direct financing that closed in March 2013. Mr. Huang was Managing Partner at Vivo Ventures LLC, a venture capital firm specializing in life science investments prior to Kleiner Perkins. With over 20 years of experience in the pharmaceutical and biopharmaceutical industry, Mr. Huang has held senior roles in business development, sales, marketing, and R&D with Anesiva, Inc., Tularik Inc., GlaxoSmithKline LLC, Bristol-Meyers Squibb, and ALZA Corp. He obtained a B.S. degree in chemical engineering from the University of California, Berkley, and a M.B.A. from the Stanford Graduate School of Business.

Y. Alexander Wu, Ph.D. is CEO and co-founder of Bioscience, Inc., a drug discovery and preclinical research organization in the oncology sector with over 300 employees. Prior to co-founding CVrown Biosceince, Alex served as Chief Business Officer of Starvax International Inc., a biopharmaceutical R&D company focusing on the development of novel therapeutic drugs for the treatment of infectious disease and cancer. Previously, he was the Head of Asian Operations with Burrill & Company, a life science venture capital and merchant bank. Additionally, Dr. Wu also co-founded and served as Chief Operating Officer of Unimicro Technologies, a life science instrumentation company. Beginning his career with Hoffmann-La Roche, he worked as Manager of Business Development and Strategic Planning. Dr. Wu obtained his B.S. in biochemistry from Fudan University, China, a M.S. in Biochemistry from the University of Illinois, and a Ph.D. in molecular cell biology and MBA from the University of California, Berkeley.

Wei-Wu He, Ph.D., EntreMed’s Executive Chairman of the Board, discussed the appointments, “We are excited about James and Alex joining our Board of Directors and look forward to their guidance and contribution as we continue to execute on our global clinical development strategy. James’ vast experience with portfolio companies at Kleiner and extensive business development experience in the biopharmaceutical industry in both the U.S. and China will support EntreMed’s expanding presence in China and overall global presence in the marketplace. Alex’s 17 plus years of experience in the biopharmaceutical industry and research in the oncology and small molecule areas, coupled with his practical experience as a senior executive, complements the background and skills of the Board and will serve the Company and our shareholders well at this important juncture in our development and growth.”

It was also announced that Mark C. M. Randall has resigned from its Board of Directors. Dr. He stated, “We would like to recognize Mark’s many years of service and contributions. As a member of our governing body since the Company’s beginning years, Mark has served as a director and at various times as a member of every committee of the Board. We sincerely wish Mark all the best in the future and thank him very much for his service to our Company.”

Further announcements indicated that Ken K. Ren, Ph.D. has been appointed Chief Executive Officer, after having completed his one-year term as interim CEO. Dr. He commented, “Over the past year, Ken has been instrumental in developing and executing the Company’s strategy and has demonstrated executive leadership and navigated development of our ENMD-2076 program to create value for our shareholders. We are thrilled that Ken will continue to lead the Company into a promising future.”

For more information on EntreMed, please visit www.entremed.com

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