Steven Arthur Kriegsman
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 RXi Pharmaceuticals (now Galena Biopharma) (NASDAQ: GALE). He also chairs RXi's Compensation and Transaction Committees.
Kriegsman grew up in the Bronx, New York with his parents Sol and Irene Kriegsman and his younger sister Rachelle. Growing up, he was influenced by his father and mother who owned their own fur processing company. His paternal grandfather was a highly successful entrepreneur. He founded and built a large manufacturing company in the fur industry in New York City.
Kriegsman began his entrepreneurial career at age 16, running a "canteen store" at Camp Saskatchewan in the Adirondacks mountains in New York State. He ended up making a larger profit than the owner of the camp. Kriegsman graduated from Christopher Columbus High School in 1959. While in high school he was the sports editor of its monthly newspaper.
A full tuition scholarship student at NYU, School of Business, he graduated second in his class from the university with a B.S. in accounting in 1964. He was then recruited by the New York office of KPMG as a junior accountant, and eventually rose to supervising senior accountant and qualified for his CPA license. In 1968, Kriegsman was recruited for the CFO position at Chyron Corporation, a NY based television-graphics pioneer, which was listed on the New York Stock Exchange. A year later, in 1969, eager to go into business for himself, Kriegsman set up a consultancy, doing tax and valuation work. After selling the business in 1974, Kriegsman retired at age 33 and moved to Los Angeles, California. In the late seventies and eighties, he became a private investor in some of the first biotech companies such as Amgen and Cetus. He also founded a successful consulting firm, Steven A. Kriegsman and Company. The firm provided business management services to famous actors, actresses, writers, producers, directors, professional athletes, and other celebrities. In 1981, he sold the company to concentrate his efforts in other fields. In 1991, after many years as a private investor, he 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-90’s, and their combined market value eventually soared 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 at the helm of CytRx was the acquisition of licensing rights for RNA interfence technology from the University of Massachusetts Medical School and the Carnegie Institute, with which he eventually co-founded RXI Pharmaceuticals with Nobel Laureate, Dr. Craig Mello.
While at NYU, Kriegsman worked as a news reporter for the Journal of Commerce, a Knight Ridder publication. 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, Inc (NYSE). The company was sold in 2008 to Nycomed, a European specialty pharma company.
Kriegsman has been a guest speaker and lecturer at various universities including the California Institute of Technology (Caltech), Brown University, and New York University. Kriegsman was an instructor at York College in Jamaica Queens. He taught entrepreneurship programs to minority students.
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.
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.
Kriegsman currently lives in Pacific Palisades California, with his wife Marina of 24 years. He has two sons, and a daughter from a previous marriage. He is an exercise and health enthusiast, who remains active in weight lifting, biking, hiking and eating healthy. Mr. Kriegsman also served during the Vietnam War in the U.S. Army from 1963–1969.
The Kriegsman's garden is featured in an 18-page article in "Latticework & Roses: California Garden," published in Traditional Home. The article, written by Rebecca Christian and photographed by Mark Lohman, follows the transformation of the garden into "the jewel of the canyon." http://www.traditionalhome.com/gardens_outdoorliving/outdoorliving/latticework-roses_ss1.html