Calistoga Pharmaceuticals Appoints Andrew Guggenhime as Chief Financial Officer

SEATTLE--(BUSINESS WIRE)--Calistoga Pharmaceuticals, Inc., the leader in the development of isoform-selective phosphatidylinositol 3 kinase (PI3K) inhibitors for the treatment of cancer and inflammatory diseases, today announced the appointment of Andrew L. Guggenhime as Chief Financial Officer.

“As we move into late-stage development with CAL-101, we are expanding both our business and scientific expertise to support our continued success.”

A veteran financial executive, Mr. Guggenhime has spent the last 10 years as Chief Financial Officer for leading public companies, including biotechnology companies Facet Biotech Corporation and PDL BioPharma, Inc. Prior to his public company roles, Mr. Guggenhime served in the investment and corporate banking businesses.

“Andrew brings a broad range of experience in strategic processes, financing strategies, and financial oversight as well as relationships with the investment community that will greatly benefit Calistoga as we advance our business objectives,” said Carol Gallagher, Pharm. D., President and Chief Executive Officer. “As we move into late-stage development with CAL-101, we are expanding both our business and scientific expertise to support our continued success.”

Mr. Guggenhime joins Calistoga in this new position from Facet Biotech, an emerging biotechnology company that was focused on the development of novel therapeutics, where he served as Senior Vice President and Chief Financial Officer. Facet Biotech was acquired by Abbott Laboratories in April 2010. Mr. Guggenhime served as Senior Vice President and Chief Financial Officer of PDL BioPharma from April 2006 until Facet Biotech was spun off from PDL BioPharma in December 2008. During his tenure at Facet and PDL, he was responsible for the finance, investor relations, program management, information technology and corporate services organizations.

Prior to joining Facet, Mr. Guggenhime served as Chief Financial Officer for Neoforma, Inc. Neoforma was a provider of supply chain management solutions for the healthcare industry before it was acquired by Global Healthcare Exchange, LLC in March 2006. Prior to joining Neoforma, Mr. Guggenhime was a Vice President in the Healthcare Investment Banking group of Merrill Lynch & Co., where he specialized in working with healthcare companies on a variety of transactions, including mergers and acquisitions, initial public offerings, add-on equity offerings and debt offerings. Prior to that, he worked at Wells Fargo & Company.

Mr. Guggenhime received his B.A. in International Politics and Economics from Middlebury College and his M.M. from the J.L. Kellogg Graduate School of Management at Northwestern University.

About Calistoga Pharmaceuticals

Calistoga Pharmaceuticals is dedicated to developing targeted therapies to improve the health of patients with cancer and inflammatory diseases. Calistoga Pharmaceuticals has a portfolio of proprietary compounds selectively targeting isoforms of the PI3K pathway. Calistoga Pharmaceuticals’ lead product candidate, CAL-101, is an oral, delta-isoform-selective PI3K inhibitor. CAL-101 has demonstrated very promising single-agent anti-tumor activity in patients with hematologic malignancies. The Company is currently planning registration-enabling trials for CAL-101. In addition, Calistoga Pharmaceuticals has a pipeline of isoform-selective PI3K inhibitors that may have utility as treatments for malignant and inflammatory diseases. Calistoga is a private company headquartered in Seattle, Washington. For more information, visit the Company’s website at: www.calistogapharma.com.