Name Steven Kriegsman | ||
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Steven Kriegsman (born February 22, 1942 in the Bronx, NY) is the President and CEO of CytRx Corporation which is a biotechnology company specializing in the development of oncology drugs. He is also a member of the CytRx Board of Directors. Kriegsman is also a director of Galena Biopharma) (NASDAQ: GALE) where he chairs the Compensation and 'Ad Hoc' (Strategy, Pricing, etc) committees.
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Career
In 1991, after many years as a private investor, Kriegsman founded the Kriegsman Group, a boutique healthcare investment and merchant bank. He financed equity offerings of Novoste, Closure Medical and Advanced Tissue Sciences in the mid-1990, and their combined market value eventually rose to over $1 billion.
In 2000, he invested several million dollars in LA based Global Genomics. Two years later, that firm was acquired by CytRx Corporation. Kriegsman became the interim CEO of CytRx in 2002 and the full-time CEO in 2003.
CytRx Corporation, located in Los Angeles, California, is a biopharmaceutical research and development company specializing in oncology. The CytRx drug development pipeline includes programs in clinical trials for seven cancer indications. Kriegsman's first transaction as CEO of CytRx was the acquisition of licensing rights for RNA interference technology from the University of Massachusetts Medical School and the Carnegie Institution for Science, with which he eventually co-founded RXI Pharmaceuticals with Nobel Laureate, Dr. Craig Mello in 2006. RXI Pharmaceuticals became Galena Biopharma in 2011.
While at NYU, Kriegsman worked as a news reporter for the Journal of Commerce. He wrote business news and also specialized in the oil and gas industry.
He served as a Director and is the former Chairman of the Audit Committee of Bradley Pharmaceuticals. The company was sold in 2008 to Nycomed, a European specialty pharma company.
Kriegsman has been a guest speaker and lecturer at the California Institute of Technology (Caltech), Brown University, and New York University. He was an instructor at York College, City University of New York, where he taught entrepreneurship programs to minority students.
Awards and recognition
In February 2006, Kriegsman received the Corporate Philanthropist of the Year Award from the Greater Los Angeles Chapter of the ALS Association. In October 2006, he received the Lou Gehrig Memorial Corporate Award from the Muscular Dystrophy Association.
Philanthropy
He has been active in various charitable organizations including the Biotechnology Industry Organization, the ALS Association, the Los Angeles Venture Association, the Southern California Biomedical Council, the California Health Initiative, the American Association of Dance Companies, and the Palisades–Malibu YMCA.
Personal life
Kriegsman currently lives in Pacific Palisades, Los Angeles, California, with his wife Marina. He has two sons, and a daughter from a previous marriage. He is an exercise and health enthusiast. Kriegsman also served during the Vietnam War in the U.S. Army from 1963–1969.
His garden was featured in an 18-page article in "Latticework & Roses: California Garden," published in Traditional Home magazine.