News Column

Ambit Biosciences Announces Changes To Board Of Directors

June 18, 2014

By a News Reporter-Staff News Editor at Biotech Week -- Ambit Biosciences (Nasdaq: AMBI), a biopharmaceutical company focused on discovery and development of drugs targeting unmet needs in oncology, autoimmune and inflammatory disease, announced the appointment of Jeffrey S. Hatfield to its Board of Directors and the resignation of board member Steven Elms (see also Ambit Biosciences).

"Jeff has a great deal of business and pharmaceutical expertise and we are excited to welcome him to Ambit's board of directors," said Michael Martino, CEO of Ambit. "He brings with him the experience gained over many years as an organizational leader in the industry and the know-how to help drive our next stage of development as a product-focused company."

Mr. Hatfield will fill the position left by Mr. Elms, who has served as a director on the Ambit board since 2001, where he acted as chairman from July 2005 to November 2009.

"Steve has provided us with more than a decade of leadership and we truly appreciate and thank him for his contributions to Ambit's strategic growth and development over the years, and wish him well in his next endeavors," said Faheem Hasnain, Ambit Board Chairman.

Mr. Hatfield currently serves as the CEO and board member of Vitae Pharmaceuticals, a clinical-stage company building a portfolio of compounds for diseases with significant unmet medical need. Prior to joining Vitae Pharmaceuticals, Mr. Hatfield worked as a senior executive at Bristol-Myers Squibb in a variety of positions and was directly associated with the success of products like Pravachol®, Plavix®, Avapro®, Abilify®, Reyataz® and Atripla®. Mr. Hatfield holds an M.B.A. from The Wharton School, University of Pennsylvania and a bachelor's degree in Pharmacy from Purdue University, where he is a Distinguished Alumni.

"Ambit has made great progress in advancing quizartinib and its pipeline assets through clinical development and I am delighted to be joining the team as we work to achieve the goal of providing an effective treatment for patients with AML. I look forward to contributing to the Company's direction and growth at this critical juncture," said Mr. Hatfield.

Keywords for this news article include: Chemicals, Chemistry, Ambit Biosciences.

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Source: Biotech Week

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