– USA, CA – Vital Therapies, Inc. (Nasdaq:VTL), a biotherapeutic company developing ELAD®, a cell-based therapy targeting the treatment of acute forms of liver failure, today announced that Faheem Hasnain has been appointed to its Board of Directors, effective immediately. In conjunction with joining the board, Mr. Hasnain has made a personal investment in shares of the Company.
Mr. Hasnain served as President, CEO and as a Director of Receptos, Inc. from November 2010 to August 2015. Receptos was a public company formed in 2009 with a specific focus on immunology and metabolic disorders that was purchased by Celgene Corporation for $7.8 billion in August 2015. Prior to Receptos, Mr. Hasnain was the President and CEO and a director of Facet Biotech Corporation. He held those positions from December 2008 until Facet’s acquisition by Abbott Laboratories in April 2010.
Previously, Mr. Hasnain was President, Chief Executive Officer and a director of PDL BioPharma, Inc. from October 2008 until Facet Biotech was spun off from PDL BioPharma in December 2008. From October 2004 to September 2008, Mr. Hasnain served at Biogen Idec Inc., most recently as Executive Vice President in charge of the oncology/rheumatology strategic business unit. Prior to Biogen Idec, Mr. Hasnain held roles with Bristol-Myers Squibb, where he was President of the Oncology Therapeutics Network, and for 14 years at GlaxoSmithKline and its predecessor organizations.
Mr. Hasnain is currently chairman of Tocagen, Inc. and Sente, Inc. and also serves on the board of directors of Kura Oncology, Inc. Mr. Hasnain received a B.H.K. and B.Ed. from the University of Windsor Ontario in Canada.
“We are excited to have Faheem join the Vital Therapies board of directors,” said Muneer Satter, Co-Chairman of Vital Therapies. “Faheem’s strong track record in biotechnology drug development will be extremely valuable as we continue executing on our current phase 3 trial, VTL-308.”
“I am delighted to work with the Board and Vital Therapies’ executive team,” said Mr. Hasnain. “I believe ELAD is a promising therapy addressing an important unmet need and look forward to helping guide its development and potential commercialization.”
About Vital Therapies, Inc.
Vital Therapies, Inc. is a biotherapeutic company developing a cell-based therapy targeting the treatment of acute forms of liver failure. The Company’s ELAD System is an extracorporeal human allogeneic cellular liver therapy currently in phase 3 clinical trials. Vital Therapies, Inc. is based in San Diego, California. Vital Therapies and ELAD are trademarks of Vital Therapies, Inc.
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