Progenics Pharmaceuticals Announces Appointment of Bryce V. Tenbarge as Vice President of Commercial

NEW YORK, Sept. 07, 2016 -- Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX), an oncology company developing innovative medicines and other products for targeting and treating cancer, today announced the appointment of Bryce V. Tenbarge as Vice President of Commercial, effective August 22, 2016. In this newly created role, Mr. Tenbarge will report to Mark Baker, Chief Executive Officer of Progenics, and will be responsible for leading all of the Company’s commercial activities. Mr. Tenbarge brings over fifteen years of experience in biopharmaceutical marketing, most recently as Vice President of Marketing and Commercialization at Celldex Therapeutics.

“Bryce is a tenured biopharmaceutical marketing executive with particular expertise in oncology,” said Mark Baker, Chief Executive Officer of Progenics. “His proven ability to design and implement commercial infrastructure, support highly-specialized product launches, and work in close collaboration with sales organizations will prove invaluable as we prepare for the potential commercial launch of our ultra-orphan radiopharmaceutical candidate, AZEDRA^®, and further advance our late-stage prostate cancer imaging and therapeutics pipeline.”

“Progenics is emerging as a leader in the development of novel oncology imaging agents and therapeutics, and I am pleased to be joining the team at this important time,” said Mr. Tenbarge. “AZEDRA represents a potential breakthrough in the treatment of malignant pheochromocytomas and paragangliomas, rare neuroendocrine cancers for which there are currently no approved therapies, and the Company’s promising pipeline has the potential to transform how prostate cancer is diagnosed, monitored and treated. I look forward to working with the Progenics leadership team to bring these innovative therapies to patients in need.”

Mr. Tenbarge joins Progenics from Celldex Therapeutics, where he served as Vice President of Marketing and Commercialization since 2013. From 2012 to 2013, he was Senior Director of Oncology Marketing at Teva Pharmaceuticals. Prior to Teva, he held several marketing positions of increasing responsibility at Bristol-Myers Squibb including Sales, Business Intelligence, Payer and Professional Marketing. Mr. Tenbarge received his MBA from The Ross School of Business at the University of Michigan.

About Progenics

Progenics Pharmaceuticals, Inc. is developing innovative medicines and other products for targeting and treating cancer, with a pipeline that includes several product candidates in later-stage clinical development. These products in development include therapeutic agents designed to precisely target cancer (AZEDRA^® and 1095), and PSMA-targeted imaging agents for prostate cancer (1404 and PyL™) intended to enable clinicians and patients to accurately visualize and manage their disease. Progenics recently entered into an agreement with a subsidiary of Bayer AG granting Bayer exclusive worldwide rights to develop and commercialize products using our PSMA antibody technology in combination with alpha-emitting radionuclides.  In addition, in late 2015 Progenics acquired EXINI Diagnostics AB, a leader in the development of advanced artificial intelligence-based imaging analysis tools and solutions for medical decision support. The acquisition of EXINI complements Progenics' strategy to support its imaging and therapeutic agents with sophisticated analytical tools and other technologies to help physicians and patients visualize, understand, target and treat cancer.  Progenics' first commercial product, RELISTOR^® (methylnaltrexone bromide) for opioid-induced constipation, is partnered with and marketed by Valeant Pharmaceuticals International, Inc.

This press release may contain projections and other "forward-looking statements" regarding future events. Statements contained in this communication that refer to Progenics' estimated or anticipated future results or other non-historical facts are forward-looking statements that reflect Progenics' current perspective of existing trends and information as of the date of this communication. Forward looking statements generally will be accompanied by words such as "anticipate," "believe," "plan," "could," "should," "estimate," "expect," "forecast," "outlook," "guidance," "intend," "may," "might," "will," "possible," "potential," "predict," "project," or other similar words, phrases or expressions. Such statements are predictions only, and are subject to risks and uncertainties that could cause actual events or results to differ materially. These risks and uncertainties include, among others, the cost, timing and unpredictability of results of clinical trials and other development activities and collaborations, such as the Phase 3 clinical program for 1404; our ability to successfully integrate EXINI Diagnostics AB and to develop and commercialize its products; the unpredictability of the duration and results of regulatory review of New Drug Applications and Investigational NDAs; market acceptance for approved products; the effectiveness of the efforts of our partners to market and sell products on which we collaborate and the royalty revenue generated thereby; generic and other competition; the possible impairment of, inability to obtain and costs of obtaining intellectual property rights; possible product safety or efficacy concerns, general business, financial and accounting matters, litigation and other risks. More information concerning Progenics and such risks and uncertainties is available on its website, and in its press releases and reports it files with the U.S. Securities and Exchange Commission. Progenics is providing the information in this press release as of its date and, except as expressly required by law, Progenics disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or circumstances or otherwise.

Additional information concerning Progenics and its business may be available in press releases or other public announcements and public filings made after this release. For more information, please visit www.progenics.com. Please follow us on LinkedIn^®. Information on or accessed through our website or social media sites is not included in the company's SEC filings.

(PGNX-F)

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Melissa Downs
Investor Relations
(646) 975-2533
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