Mascoma Appoints David Arkowitz as Chief Financial Officer

LEBANON, N.H.--(EON: Enhanced Online News)--Mascoma Corporation, an innovative biofuels company, announced the appointment of David Arkowitz as its new Chief Financial Officer (CFO). Mr. Arkowitz, who joins Mascoma at the end of the month, will be responsible for the company’s finance and investor relations areas, and assume a key role in the company’s general management and governance.

“I look forward to joining Mascoma as the Chief Financial Officer and becoming a part of the exceptional executive team.”

Mr. Arkowitz, age 49, has over two decades of finance leadership experience in the healthcare and life sciences industries. For the past seven years, he served as the CFO of two public biopharmaceutical companies AMAG Pharmaceuticals, Inc and Idenix Pharmaceuticals, Inc. As CFO, Mr. Arkowitz was instrumental in securing approximately $600 million in initial public and follow-on offerings, and transitioning both organizations from development stage to commercial entities.

“David brings outstanding financial and analytical acumen, strong leadership skills, and an execution-based management style to Mascoma,” stated Bill Brady, President and CEO of Mascoma. “David’s unique experience building the critical infrastructure to successfully transition to commercialization, and assessing and implementing growth strategies will be great assets to Mascoma as we execute our vision of producing and commercializing environmentally sustainable, low-cost, low-carbon biofuels from cellulosic biomass.”

Mr. Arkowitz joins Mascoma from AMAG Pharmaceuticals where he served as Executive Vice President, CFO and Chief Business Officer. At AMAG, a commercial stage biopharmaceutical company, he had a broad range of operational and general management responsibilities.

“There is a critical global need to reduce dependence on fossil fuels and reduce carbon emissions, and I believe that Mascoma, with its proven and proprietary technology, is well positioned to be a leader in providing a biofuels solution,” stated David Arkowitz. “I look forward to joining Mascoma as the Chief Financial Officer and becoming a part of the exceptional executive team.”

Prior to joining AMAG Pharmaceuticals, Mr. Arkowitz served as CFO and Treasurer at Idenix Pharmaceuticals, a public biopharmaceutical company. Prior to his tenure at Idenix, Mr. Arkowitz was with Merck & Co. Inc., a public pharmaceutical company, for over thirteen years, where he served as Vice President and Controller of the U.S. sales and marketing division, Controller of the global research and development division, and as Vice President of Finance and Business Development of the Canadian subsidiary of Merck & Co. Mr. Arkowitz holds a B.A. in Mathematics from Brandeis University and an M.B.A. from Columbia University.

About Mascoma

Mascoma Corporation is an innovative biofuels company committed to developing environmentally sustainable, low cost, low carbon biofuels from cellulosic biomass. The company’s Consolidated Bioprocessing method converts non-food biomass feedstocks into cellulosic ethanol through the use of a patented process that eliminates the need for costly enzymes and additives. The company’s corporate office and R&D laboratories are based in Lebanon, New Hampshire. Mascoma is producing cellulosic ethanol on a demonstration scale at its facility in Rome, New York. Its affiliate, Frontier Renewable Resources, is developing a commercial scale production facility in Kinross, Michigan. Mascoma acquired SunOpta Bioprocess Inc. on September 1, 2010 (now Mascoma Canada). This acquisition brings together the leading fiber preparation and pretreatment technologies of SBI and the world-leading consolidated bioprocess technology of Mascoma, to create a company with comprehensive capabilities for converting non-food cellulose into ethanol and high value co-products.