CAMBRIDGE, Mass., June 25, 2015 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq:MNTA) today announced that Rick Shea has advised the Company of his intention to step down as Chief Financial Officer (CFO) once a successor is identified and appointed. Mr. Shea will remain with the Company to assist with the CFO succession and serve in a newly created role of Senior Vice President, Corporate Communications and Operations for a transition period prior to his planned retirement in 2016. Momenta has initiated a CFO search.
"For the past 12 years Rick has played a central role in Momenta's transition from a start-up R&D company into the growing product development company we are today," said Craig Wheeler, President and CEO, Momenta Pharmaceuticals. "Rick's leadership, guidance and unwavering commitment to Momenta has been a vital part of our growth as a business – and for that we thank him. I am also grateful that Rick has agreed to stay on through this transition period and thank him for his many contributions that have better positioned the Company for sustainable growth and success."
"I am very proud of what we have accomplished as a team at Momenta and am thankful that I've been able to spend the bulk of my career working with such a talented team to build this dynamic company," said, Rick Shea, Chief Financial Officer, Momenta Pharmaceuticals. "I look forward to staying on to help ensure a seamless transition of my CFO responsibilities as we continue to progress Momenta's robust product pipeline and build shareholder value."
Mr. Shea joined Momenta in October 2003 as Chief Financial Officer and Senior Vice President.
About Momenta
Momenta Pharmaceuticals is a biotechnology company specializing in the detailed structural analysis of complex drugs and is headquartered in Cambridge, MA. Momenta is applying its technology to the development of generic versions of complex drugs, biosimilar and potentially interchangeable biologics, and to the discovery and development of novel therapeutics for oncology and autoimmune indications.
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Forward Looking Statements
Statements in this press release regarding the Company's future expectations, beliefs, intentions, goals, strategies, plans or prospects, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the Company's CFO succession plan; the timing of Richard P. Shea's planned retirement; the expectation that Mr. Shea will remain with the Company to assist with the CFO succession and serve as Senior Vice President, Corporate Communications and Operations upon the appointment of a successor CFO; progression of Momenta's robust product pipeline; and building shareholder value. Forward-looking statements may be identified by words such as "anticipate," "believe," "continue," "could," "hope," "target," "project," "goal," "objective," "guidance," "plan," "potential," "predict," "might," "estimate," "expect," "intend," "may," "seek", "should," "target," "will," "would," "look forward" and other similar words or expressions, or the negative of these words or similar words or expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, including those referred to under the section "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed with the Securities and Exchange Commission, as well as other documents that may be filed by the Company from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and important factors, actual events may differ materially from any future events discussed in or implied by the forward-looking statements contained herein. The Company is providing the information in this press release as of this date and assumes no obligation to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.