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Progenics Pharmaceuticals Announces A Changing Of The Guard On Its Board Of Directors

-Michael Kishbauch, former CEO of Achillion, joins Board

-Stephen Goff retires from Board following 20 years of service

TARRYTOWN, N.Y., Sept. 11, 2013 (GLOBE NEWSWIRE) -- Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX) has announced that Michael D. Kishbauch, an experienced and innovative leader in the healthcare industry, has been elected to its Board of Directors. Stephen P. Goff, Ph.D., who has served on the Board since 1993, has retired. Both are effective today. Mr. Kishbauch has held senior management positions in the life sciences industry for over 28 years, most recently as President and CEO of Achillion Pharmaceuticals.

"Our newest Board member brings a wealth of experience, expertise and enthusiasm to our team," said Peter Crowley, Chairman of the Board of Progenics.

"The Board at Progenics is instrumental in providing the vision and support needed to further our mission to become a pre-eminent oncology company. We are honored to welcome Michael to our Board as we work to address the unmet medical needs of cancer patients and their families," said Mark R. Baker, Chief Executive Officer.

Mr. Kishbauch has extensive operational, strategic, product planning, promotion, sales, marketing and product launch experience. Prior to his work at Achillion, Michael founded and served as President and Chief Executive Officer of OraPharma, Inc., which was a publicly traded, commercial-stage pharmaceutical company focused on oral health care. OraPharma was acquired by Johnson & Johnson. Michael previously held senior management positions with MedImmune, Inc.; has held board positions with several other life sciences companies; and continues to serve on Achillion's Board. He holds an M.B.A. from the Wharton School of the University of Pennsylvania and a B.A. in biology from Wesleyan University.

"I am pleased for the opportunity to help guide Progenics, and grateful to play a role in fundamentally changing the landscape for patients suffering from prostate and other cancers," said Mr. Kishbauch. "My experience in the healthcare sector helps me to appreciate the value an organization like Progenics brings in advancing innovative, yet practical, approaches to diagnosing and treating prostate and other cancers."

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