Momenta Pharmaceuticals Announces CFO Transition

CAMBRIDGE, Mass., Jan. 03, 2020 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA) (“Momenta” or the “Company”), a biotechnology company focused on discovering and developing novel biologic therapeutics to treat rare immune-mediated diseases, today announced that it is consolidating key financial and business functions under Young Kwon, Ph.D., Momenta’s Chief Business Officer. With this consolidation, Dr. Kwon has been appointed to the position of Chief Financial and Business Officer effective January 8, 2020. Dr. Kwon will add Momenta’s finance functions to his existing portfolio of investor relations, corporate and business development, banking relations, and commercial. 

“Young has demonstrated strong leadership during his 9-year tenure at Momenta, driving our business development efforts and strategic vision. His leadership of our banking and investor relations functions during our transition has resulted in renewed investor confidence as we have restructured into an innovative biotech focusing on rare immune-mediated disease,” said Craig Wheeler, President and Chief Executive Officer. “Under Young’s leadership, this consolidation of functions will allow us to continue to work to deliver value to our shareholders.”

Dr. Kwon joined Momenta in 2011 and has served in roles of increasing responsibility since that time. Prior to Momenta, he was at Biogen Idec in business and corporate development, where he completed late-stage clinical licensing transactions and other deals. Prior to that, he worked at Advanced Technology Ventures, a venture capital firm, where he identified and invested in early-stage life science companies. He has a Ph.D. in Biological Chemistry and Molecular Pharmacology from Harvard University, where he has co-authored numerous peer-reviewed publications in the area of neurobiology, and an undergraduate degree from MIT.

Momenta is reaffirming its previously announced guidance for the full year 2019, which was outlined in its third-quarter 2019 earnings press release.

About Momenta
Momenta Pharmaceuticals is a biotechnology company with a validated innovative scientific platform focused on discovering and developing novel therapeutics to treat rare, immune-mediated diseases and advancing its late stage biosimilar portfolio. The Company is headquartered in Cambridge, MA.

To receive additional information about Momenta, please visit the website at www.momentapharma.com, which does not form a part of this press release.

The Company’s logo, trademarks, and service marks are the property of Momenta Pharmaceuticals, Inc. All other trade names, trademarks, or service marks are property of their respective owners.

Forward-Looking Statements 
Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements about our future operating efficiency and guidance for full year 2019. Forward-looking statements may be identified by words such as "believe," "continue," “plan to”, "potential," "will," and other similar words or expressions, or the negative of these words or similar words or expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, including the risk of the unpredictable nature of early stage development efforts for our product candidates; safety, efficacy or tolerability problems with our product candidates; unexpected adverse clinical trial results; and those referred to under the section "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 filed with the Securities and Exchange Commission, as well as other documents that may be filed by the Company from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. The Company is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.