RICHMOND, Calif., Nov. 19 /PRNewswire-FirstCall/ -- Sangamo BioSciences,
Inc. (Nasdaq: SGMO), a leader in the research and development of novel zinc
finger DNA-binding proteins (ZFPs) for therapeutic gene regulation and
modification, announced today the appointment of Paul B. Cleveland, executive
vice president, corporate development and chief financial officer of Affymax,
Inc., to its board of directors, effective November 19, 2008. Mr. Cleveland
will also serve as chair of Sangamo's audit committee.
'We are very pleased to welcome Paul to Sangamo's board,' stated Edward
Lanphier, Sangamo's president and CEO. 'His significant experience and success
in biotechnology industry finance and business development will aid us in all
aspects of our company's operations, including clinical and commercial
development of our ZFP Therapeutic(TM) programs.'
Mr. Cleveland has served as executive vice president, corporate
development and chief financial officer of Affymax, Inc. since January 2006.
In such capacity, he has responsibility for all business development,
strategic planning, finance, investor relations and legal functions. He
negotiated a worldwide collaboration with Takeda that was honored with the
'Allicense 2007 Breakthrough Alliance Award' at the Recombinant Capital
Allicense conference. Mr. Cleveland also led preparations for and execution
of Affymax's initial public offering of common stock which was characterized
as 'the strongest biotech offering of 2006' by Business Week. Together these
transactions added more than $230 million to Affymax's cash balance in one
year.
From 2004 to 2006, Mr. Cleveland served as a managing director at
Integrated Finance, Ltd., an investment bank, and from 1996 to 2003 as a
managing director and head of west coast mergers and acquisitions at J.P.
Morgan Chase and Co. (and a predecessor investment bank, Hambrecht & Quist).
From 1981 to 1996, he held positions, including partner, at several law firms
including Cooley Godward LLP, Sidley Austin LLP and Davis Polk & Wardwell. He
serves as a member of the board of directors and is chairman of the audit
committee of Anacor Pharmaceuticals, Inc. Mr. Cleveland holds a J.D. from
Northwestern University School of Law and an A.B. from Washington University
in St. Louis.
'I am excited to join the board of directors of Sangamo BioSciences at
this point in the company's development,' commented Mr. Cleveland.
