StemCells Elects Eric H. Bjerkholt to Board of Directors
PALO ALTO, Calif., March 3 /PRNewswire-FirstCall/ --
StemCells, Inc., (Nasdaq: STEM - News) elected Eric H. Bjerkholt to its Board of Directors.
The appointment increases the number of directors on the company's board from
five to six. Mr. Bjerkholt brings several years of experience and expertise in
the healthcare financing arena.
Currently, Mr. Bjerkholt is Senior
Vice President and CFO of Sunesis Pharmaceuticals, Inc. At Sunesis, he leads
the financial operations, public and investor relations, and treasury
activities of the South San Francisco
small molecule biopharmaceutical company.
Before joining Sunesis, Mr. Bjerkholt
served as Senior Vice President and CFO of IntraBiotics Pharmaceuticals, Inc.,
where he completed multiple financings. Earlier in his career, Mr. Bjerkholt
co-founded LifeSpring Nutrition, Inc., a privately held nutraceutical company.
From 1990 to 1997, Mr. Bjerkholt was an investment banker at J.P. Morgan &
Co., Inc., where he founded its Western U.S. Healthcare Investment Banking
Practice, leading many equity and financing transactions for biotechnology and
other healthcare and life sciences companies. Mr. Bjerkholt holds an M.B.A.
from Harvard Business School
and a Cand. Oecon degree in economics and econometrics from the University of
Oslo, Norway.
"Eric's profound knowledge of
the investment banking and financial dynamics of the biotech industry is
exactly what the company needs at this time of growth. The Board is looking
forward to working with him and we anticipate his valuable insights and
contributions to help us define the best approaches for creating shareholder
value," said Martin McGlynn, President & CEO of StemCells, Inc.
"I am pleased to be associated
with an enterprise with so much promise in areas of much need. I look forward
to serving on the Board of StemCells at this exciting time in the company's
history as it moves toward its first clinical trial," said Mr. Bjerkholt.
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