FierceBiotech Designates Alder Biopharmaceuticals One of Top Private Biotechs, Member of the 2010 Fierce 15
BOTHELL, WA- September 15, 2010 – Alder Biopharmaceuticals Inc. today announced FierceBiotech has designated it one of the top private biotech companies and placed it on the annual Fierce 15. The list, published annually by FierceBiotech, highlights 15 of the top privately held biotech companies out of hundreds of nominees. The list is based on a variety of factors, such as the strength of a company’s technology, partnerships and competitive market position. A complete list of “Fierce 15” companies is available online at www.fiercebiotech.com.
“The conventional wisdom in biotech holds that startups must always gather up a group of venture backers before they start hiring a crew. But the news must never have made it to CEO Randall Schatzman and his startup team at Alder,” said John Carroll, editor of FierceBiotech. “They used their credit cards and borrowed office space to bootstrap Alder before roping in some seed capital. And they never looked back. Partnership cash has helped fund their operations into 2014 as Alder continues to build its reputation in the antibody space and they push through mid-stage development.” Randall Schatzman, Ph.D., president and CEO of Alder, added, “The events of the past 12 months have provided us many opportunities to showcase the hard work of our team, from securing a deal with Bristol-Myers Squibb for nearly $1 billion to reporting Phase 2 data for our lead asset, ALD518, in both cancer and in rheumatoid arthritis. We continue to grow our internal pipeline with highly selective antibody therapeutics and look forward to moving ahead with our clinical-stage programs, including further development on our own of ALD518 in cancer.”
About Alder Biopharmaceuticals
Alder Biopharmaceuticals Inc. uniquely identifies, develops and manufactures novel antibody therapeutics to alleviate human suffering in the autoimmune and inflammatory disease areas. Alder’s management team combines decades of industry experience with a proven track record for identifying and developing novel antibody therapeutics and enabling partners through the out-licensing of its technologies. In addition to Bristol-Myers Squibb, partners include Merck (Schering-Plough), Seattle Genetics and Genmab. For more information, visit www.alderbio.com.
About FierceBiotech
FierceBiotech is the biotech industry’s daily monitor – a free email newsletter and web resource providing the latest biotech news, articles, and resources related to clinical trials, drug discovery, FDA approval and regulation, biotech company deals and more. More than 75,000 top biotech professionals rely on FierceBiotech for an insider briefing on the day’s top stories. Sign up is free at http://www.fiercebiotech.com.