Progenics Announces Promotion of Mark R. Baker to President and Appoints Him to Board of Directors

Source Press Release
Company Progenics Pharmaceuticals 
Tags Personnel
Date September 16, 2009

Tarrytown, NY -- September 16, 2009 -- Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) today announced the promotion of Mark R. 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, M.D., Ph.D., 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. With Mr. Baker's appointment, Progenics' newly expanded board now has nine members. Prior to his promotion, Mr. Baker was Executive Vice President - Corporate. He joined the company in 2005 as Senior Vice President and General Counsel.  

"Over the last four years, Mark has been the architect of our business development efforts, having negotiated our agreements with Wyeth and  Ono Pharmaceuticals," said Dr. Maddon. "He has also been a key player in building and maintaining these relationships. His appointment as President and Director not only recognizes 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."  

Mr. Baker came to Progenics with over 25 years of legal experience, including 21 years with the Dewey Ballantine law firm where he represented Progenics in its 1997 initial public offering, along with many other clients in the biotechnology field, including biotech companies, investment banks, consultants and venture capital firms. Mr. Baker's practice at Dewey Ballantine included work in capital raising, mergers and acquisitions, joint ventures, technology and product licensing, and general business counseling. During his tenure at Dewey Ballantine, he served as Partner, Chairman of the Capital Markets Group as well as the Chairman of the Legal Personnel Committee. In 1997, Mr. Baker joined Contigroup Companies, Inc. as Executive Vice President, Chief Legal Officer and Secretary, serving on an executive committee responsible for Contigroup's strategic direction. Prior to joining Progenics, he was the Chief Business Officer, Treasurer, Secretary and a Director of New York Water Taxi. He earned his J.D. at Columbia University School of Law and holds an A.B. degree in History and Biochemistry from  Columbia College.  

"It is a proud moment for me in my long involvement with Progenics to take on these leadership roles," said Mark Baker, Progenics' new President. "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." 

Source: Evaluate™
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