CAMBRIDGE, Mass., Dec. 12, 2013 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA) announced today that it has named Michael Franken, M.D. as President, Biosimilars Business. Dr. Franken will oversee the operational management of Momenta's biosimilars program, including its collaboration with Baxter International Inc., strategic planning, P&L responsibility, and other supporting activities. Dr. Franken will report to Craig Wheeler, Momenta's President and Chief Executive Officer, and will serve as a member of the Executive Committee.
"Momenta's biosimilars business presents an attractive opportunity for growth," said Craig Wheeler. "Michael brings more than 17 years of broad experience to the company, including a valuable combination of operations skills, market expertise and business development. With this focus, we will better align our resources and expertise to create an even stronger collaboration with Baxter to advance this core business."
Prior to joining Momenta, Dr. Franken served as Senior Vice President and Chief Business Officer of Radius Health where he was responsible for the company's commercial, business development, and strategy functions with a focus on its Phase 3 stage, innovative bone anabolic medicine to treat osteoporosis. Prior to Radius Health, he also served as Vice President and General Manager, Solid Organ Transplantation, at Genzyme Corporation, now a Sanofi Company, where his career spanned more than 10 years. At Genzyme, he was successful in building and significantly growing the transplant business to more than $260 million in revenues through focused development of the transplant products across multiple indications and expanding commercial markets globally. Also during his career at Genzyme, he held progressively senior positions in corporate development portfolio and general management. In the area of Immune Diseases and Fibrosis, he was responsible for the company's preclinical and clinical development portfolio and for business development, where he successfully identified and executed several licensing and partnering transactions. He also provided leadership in establishing and managing Genzyme Ventures, Genzyme's corporate venture arm. He received an M.D. from the University of Heidelberg, Germany and a Master in Health Policy and Management from Harvard University's School of Public Health.
Momenta Pharmaceuticals is a biotechnology company specializing in the detailed structural analysis of complex mixture drugs and is headquartered in Cambridge, MA. Momenta is applying its technology to the development of generic versions of complex drugs, biosimilar and potentially interchangeable biologics, and to the discovery and development of novel medicines.
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