Progenics Makes Management Changes

Progenics Pharmaceuticals has announced the promotion of Mark Baker to the newly created position of president. Mr Baker was also appointed to the Board of Directors. He will continue to report to Paul J Maddon, Progenics’ founder, chief executive officer and chief science officer. In his new role, Mr Baker will be responsible for overseeing the company’s commercial development, strategic planning, business development, investor relations, corporate communications, finance and accounting, operations and legal affairs.

Dr Maddon, said: “Over the last four years, Mark has been the architect of our business development efforts, having negotiated our agreements with Wyeth and Ono Pharmaceuticals. He has also been a key player in building and maintaining these relationships. His appointment as president and director not only recognises the significant contributions he has made to Progenics, but calls upon him to provide direction and leadership in developing the Company’s business and commercial capabilities.”

Mark Baker, new president of Progenics, said: “It is a proud moment for me in my long involvement with Progenics to take on these leadership roles. I hope that my business skills in negotiating and completing transactions, guiding corporate collaborations and managing organizations will help the people of Progenics achieve our goal of enhancing value for all of our shareholders.”