MedImmune Founder Steps Down

MedImmune founder Wayne T. Hockmeyer steps down as chairman as AstraZeneca competes its tender offer for the Gaithersburg biotech firm.

He's also retiring as president of MedImmune Ventures, Inc.

In a statement, Hockmeyer said: "I am honored to have been a part of building one of the most successful biotechnology companies in the world. The last 19 years at MedImmune have been exciting, professionally stimulating and remarkably productive. I believe the company, now as a part of AstraZeneca, will continue to be successful in developing new and promising therapies that improve healthcare. I also expect MedImmune to continue to grow as one of the premier biotech companies, adding new jobs, playing an important leadership role in the scientific community, and continuing its involvement as a dedicated corporate citizen."

By Dan Beyers  |  June 19, 2007; 1:49 PM ET
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