Abgenix Appoints William R. Ringo as New CEO and President.

FREMONT, Calif. -- Abgenix, Inc. (Nasdaq:ABGX) today announced the appointment of William R. Ringo as CEO and President effective August 30, following Ray Withy's decision to step down. Mr. Ringo will also serve on the company's board of directors and Dr. Withy will continue as a member of Abgenix's

"Abgenix has made significant progress in its evolution into a product development company and the time is now right to bring a new leader into the company with strong operating, marketing and commercialization experience to move the company into its next phase," said R. Scott Greer, Chairman of the Board at Abgenix.

Mr. Ringo brings over 30 years of marketing and product commercialization experience as a pharmaceutical and biotechnology company executive. He joined Eli Lilly in 1973 and retired in 2001, during which time he held various commercial and product marketing positions, including president of the company's Oncology and Critical Care Product teams. Mr. Ringo also served as president of Eli Lilly's Internal Medicine Products unit and as president of its Infectious Diseases business unit. Previously, he was vice president of Sales and Marketing for Eli Lilly's U.S. pharmaceutical operations, after holding a variety of positions in general management, marketing and business planning across Eli Lilly's pharmaceutical and devices businesses.

Most recently, Mr. Ringo has served as a director on a number of biotechnology company boards and he is currently the non-executive chairman of the board of directors at InterMune, a biopharmaceutical company focused on developing and commercializing innovative therapies in pulmonology and hepatology. Mr. Ringo earned a Bachelor of Science degree in management in 1967 and a Master of Business Administration degree in 1973 from the University of Dayton.

"Abgenix has tremendous opportunity as a company that focuses on antibodies, including a lead oncology candidate, panitumumab, which is currently in late stage development and a growing pipeline," said Mr. Ringo. "I am enthusiastic to join at this important point in the company's history and to help Abgenix become a successful, profitable therapeutics company by enhancing the portfolio and continuing to transform the company into a commercial organization."

Dr. Withy has been with Abgenix since its founding and has played a key role in establishing Abgenix's network of business collaborations. As CEO and President, he has led the company's transformation from a technology licensing business to a company focused on the discovery, development and manufacture of antibodies.