VALENCIA, Calif., Feb. 26, 2016 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today reported with deep sadness the passing of Alfred E. Mann, age 90, the company’s Chairman Emeritus. Mr. Mann was the Chairman of the Board of MannKind from 2001 until February 2016 and, from November 2003 until January 2015, was its Chief Executive Officer. Mr. Mann founded and largely funded 14 companies in his career. Nine of these companies were acquired at an overall total of almost $8 billion, and three companies became publicly traded, MannKind being one of them. For nearly six decades, Alfred Mann was a revolutionary voice and thinker in aerospace, medical technology and biopharmaceuticals, and has led development of many products to fill unmet and poorly met medical needs. Our thoughts and condolences go out to Al's wife, Claude, his children, and loved ones.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6d87a8dd-77bc-4068-a3a2-bafd43e79228
“Al has been a wonderful inspiration, not only to me, but to all the employees of MannKind. His kindness, generosity, and business acumen have influenced all of us with whom he has done business and charitable work over the years. He will be terribly missed by many, including the countless patients around the world with diabetes and other serious illnesses, whose lives he improved. I am thankful to have had a close relationship with Al, and will reflect on his counsel and guidance in the years to come. Our resolve is now stronger than ever to continue Al's legacy of medical innovation, as a tribute to this remarkable man, who did so much to help mankind,” said Matthew Pfeffer, Chief Executive Officer of MannKind Corporation.
“Al's contribution to the diabetes field is unparalleled, and he truly represents an iconic influence in the philanthropic and business arena for our generation. I'm honored to have worked for so many years with Al, and am proud to have called him my friend,” said Kent Kresa, Chairman of the Board of MannKind Corporation. No changes are anticipated in the company’s day-to-day business activities. The company’s loan agreement with The Mann Group is unaffected by the passing of Mr. Mann.
JDRF Los Angeles tribute video: https://youtu.be/Rs1BMRFlmqw
AMI-USC tribute video: https://youtu.be/SJg1hSfB7GQ
About MannKind Corporation
MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at http://www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website.