MBX Biosciences Appoints James Cornelius to its Board of Directors

Industry veteran brings deep experience growing companies, including as chairman and CEO of Bristol Myers Squibb, and as board member and CFO of Eli Lilly

CARMEL, Ind.--(BUSINESS WIRE)--MBX Biosciences, a drug discovery company focused in rare endocrine diseases, today announced the appointment of James Cornelius to its board of directors.

“Jim Cornelius is among the most accomplished global biopharmaceutical executives, and he is recognized for decades of leadership with highly successful organizations,” said Kent Hawryluk, president and chief executive officer of MBX Biosciences. “His insight and perspective as part of our board of directors will be invaluable as we continue to build a leading rare disease company.”

Mr. Cornelius served as chairman of the board of directors of Bristol Myers Squibb (BMY) from February 2008 to May 2015, as well as BMY’s chief executive officer from September 2006 to March 2010. Under his leadership, BMY successfully completed a transformation into a leading specialty biopharmaceutical enterprise. He served as chairman of the board of Mead Johnson Nutrition from December 2009 to June 2017 when it was acquired by Reckitt Benckiser for $16 billion. Mr. Cornelius served as board chairman and chief executive officer of Guidant from November 2005 to April 2006 when it was acquired by Boston Scientific for $27 billion. He was executive chairman of the board of Guidant Corporation and its senior executive beginning in September 1994 when the company was formed within Eli Lilly (LLY). Mr. Cornelius was a member of LLY’s board of directors and its chief financial officer from 1983 until 1995. He has served on the board of directors of a dozen private and public companies, including The Chubb Corporation, The DIRECTV Group and Given Imaging. Mr. Cornelius is currently chairman of Cornelius Family Foundation and Cornelius Private Investments. He has served the United Way of Central Indiana in multiple leadership positions, and he has received several honorary doctorate degrees and achievement awards. He earned a bachelor’s degree magna cum laude and an MBA from Michigan State University.

“MBX's therapeutic programs in rare endocrine diseases address significant unmet need,” said Mr. Cornelius. “I have worked with several MBX team members previously, including Kent Hawryluk and Richard DiMarchi, and I am impressed with the team, investor syndicate and technology they have assembled. I look forward to helping realize the company’s outstanding potential.”

About MBX Biosciences

MBX Biosciences is a biotechnology company creating therapies for rare endocrine diseases. Members of MBX’s leadership team previously collaborated in the creation of highly successful endocrine drugs (Humalog®, Forteo®) and three Indiana-based companies (Marcadia, Calibrium and MB2). MBX is strengthened by world-class proprietary technology and drug candidates licensed from the DiMarchi Indiana University laboratory. The company is supported by investment from leading life science investors that include Frazier Healthcare Partners, OrbiMed, and New Enterprise Associates. For more information, please visit mbxbio.com.