Charles River Laboratories Adds Nancy T. Chang to Board of Directors

   "As we continue to broaden our global footprint, Dr. Chang's guidance will be invaluable. Her international view of the drug development process will assist us in anticipating the evolving needs of our multinational customers," said James C. Foster, Chairman, President and Chief Executive Officer of Charles River Laboratories.

   In her current role as Managing Director at OrbiMed Advisors, Dr. Chang is charged with seeking private investment opportunities that capitalize on the rapid growth of Asia's life sciences markets. Previously, Dr. Chang was the Co-Founder, Chief Executive Officer and Chairman of the Board at Tanox, Inc., which was created to address significant unmet medical needs in the areas of asthma, allergy, inflammation and diseases affecting the human immune system. Dr. Chang drew upon her quarter of a century experience with drug development to grow Tanox from an idea to a publicly traded company with revenue close to $70 million a year. In 2000, she took

   Tanox public raising $244 million, which was the second largest initial public offering ever for a biopharmaceutical company at that time. Under her leadership, Tanox played an instrumental role in the development and market approval of Xolair, a drug for treating patients with moderate to severe asthma. Xolair was approved by the FDA in 2003, and its worldwide sales reached nearly $500 million in 2006. Tanox was acquired by Genentech in August 2007.

   As an active member in the biopharmaceutical industry, Dr. Chang has published more than 35 papers on topics ranging from monoclonal antibodies to HIV and holds seven patents. She currently serves on the Boards of Directors of the Federal Reserve Bank in Houston, BioHouston, Center of Houston's Future and the Greater Houston Partnership.

   "There couldn't be a better time to join the Charles River Laboratories Board of Directors. As pharmaceutical and biotechnology organizations are challenged to quickly and cost effectively introduce new drugs to the marketplace, the industry is experiencing an inflection point unparalleled in history," said Dr. Nancy T. Chang. "As a result, many of these organizations are streamlining operations and creating cost efficient best practices by outsourcing their drug development process to such companies as Charles River Laboratories. As the industry leader, Charles River Laboratories is distinctly positioned to reap the benefits of the increased demand for outsourced services."

   Keywords: Bioengineering, Biopharmaceuticals, Biotechnology, Biotechnology Business, Biotechnology Company, Business, Drug Development, Monoclonal Antibody, Personnel, Tanox, Therapy, Treatment, Charles River Laboratories International Inc.

   This article was prepared by Biotech Business Week editors from staff and other reports. Copyright 2007, Biotech Business Week via NewsRx.com.

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