Five Prime Therapeutics Appoints Aron Knickerbocker to Its Board of Directors and Marc Belsky to Chief Financial Officer

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| Source: Five Prime Therapeutics, Inc.

SOUTH SAN FRANCISCO, Calif., Oct. 23, 2013 (GLOBE NEWSWIRE) -- Five Prime Therapeutics, Inc. (Nasdaq:FPRX) (Five Prime), a clinical-stage biotechnology company focused on discovering and developing novel protein therapeutics for cancer and inflammatory diseases, today announced the appointment of Aron Knickerbocker, Senior Vice President and Chief Business Officer of Five Prime, to the company's Board of Directors and the appointment of Marc Belsky to the position of Chief Financial Officer.

"Aron's appointment to our Board of Directors reflects our Board's confidence in Aron's judgment and the value he adds to the leadership of Five Prime," said Lewis T. "Rusty" Williams, MD, PhD, Founder, President and Chief Executive Officer of Five Prime. "Aron's extensive knowledge and insight in biotechnology business will be valuable contributions to the Board as we continue our transition into a more development-focused public company. Aron will continue to be an important member of our management team. His leadership as Chief Business Officer, as well as his strategic business input will be increasingly important during the next phase of Five Prime's growth."

"Marc has been an effective leader within Five Prime. His promotion to the role of Chief Financial Officer reflects our confidence in Marc's judgment and ability to improve our operations as we mature as a public company," said Dr. Williams. "Marc has been instrumental in the development of our finance operations and in the planning for and execution of our initial public offering."

Mr. Knickerbocker has worked in the biopharmaceutical industry for over 20 years, including the last 14 years in business and corporate development roles. Prior to joining Five Prime in 2009, Mr. Knickerbocker was at Genentech, Inc. where he most recently was Senior Director, Business Development, leading Genentech's oncology business development team, which was responsible for evaluating and negotiating multiple strategic alliances. Prior to Genentech, Mr. Knickerbocker was at ALZA Corporation, where he negotiated and closed in-licensing and co-promotion transactions as Director of Commercial Development, and held sales, market research, marketing, and corporate development positions at Amgen, Inc. He began his career in the biopharmaceutical industry in research as a scientist at Bristol-Myers Squibb. Aron received his A.B. degree in biology from Washington University in St. Louis, and his M.B.A. degree from the University of Michigan.

Mr. Belsky has over 30 years of finance and accounting experience, including seven in the biotechnology industry. Prior to joining Five Prime in 2009, Mr. Belsky served as Vice President, Finance, and Chief Accounting Officer of Cell Genesys, Inc. Prior to serving at Cell Genesys, Mr. Belsky served as Vice President, Global Visa Commerce, at Visa International, as Chief Financial Officer at Active Aero Group and as Chief Financial Officer at DataWave Systems Inc. Prior to these positions, he served for 15 years at Michigan National Corporation and National Australia Bank, which acquired Michigan National Corporation, in positions of increasing responsibility most recently as Senior Vice President, U.S. Payment Products and Services. Mr. Belsky started his career as an auditor with Coopers & Lybrand. Mr. Belsky received a B.S. degree in Accounting from Wayne State University and an M.B.A. from the University of Michigan. Mr. Belsky is a certified public accountant and a certified treasury professional. 

Cautionary Note on Forward-looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Five Prime, they are forward-looking statements reflecting Five Prime's current beliefs and expectations and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will," "continue," and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Factors that may cause Five Prime's actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Five Prime's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" section of Five Prime's Prospectus filed pursuant to Rule 424(b)(4) on September 18, 2013 with the U.S. Securities and Exchange Commission. Except as required by law, Five Prime assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

About Five Prime

Five Prime is a clinical-stage biotechnology company focused on discovering and developing novel protein therapeutics for cancer and inflammatory diseases. Five Prime has developed a library of more than 5,600 human extracellular proteins. Five Prime screens this comprehensive library with its proprietary high-throughput protein screening technologies to identify new targets for protein therapeutics. Additional information can be found at the company's website: www.fiveprime.com.

Company Contact:
Amy Kendall
Corporate Communications
415-365-5776