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Pulmo BioTech Announces Appointment of Professor John Wallwork as Chairman


3/17/2009 10:44:17 AM

NEW YORK, March 17 /PRNewswire-FirstCall/ -- Pulmo BioTech Inc. is pleased to announce the appointment of Professor John Wallwork to the Board of the company as non-exec Chairman.

Commenting on the appointment, Garry McCann, Pulmo BioTech's CEO, said "we are delighted that Professor Wallwork has agreed to join the Board of Pulmo BioTech. The Professor's depth of experience and knowledge will be of great benefit to the company as we move towards Phase II Human Trials for our PulmoBind product candidate for the Molecular Imaging of the vascular system of the lungs."

Professor Wallwork will also be chairing the company's Scientific Advisory Board where his knowledge and background in Pulmonary Hypertension as well as his experience in the management of research and development will be of great benefit.

Biographical Details

JOHN WALLWORK, Bsc, MBChB, FRCS(E), FRCS, FRCP(E), FRCP(London), FMedSci, MA

Professor John Wallwork is currently Professor of Cardiothoracic Surgery and Director of Research & Development at Papworth Hospital NHS Foundation Trust, Cambridge.

Before being appointed as a Consultant at Papworth Hospital in 1981, he was Chief Resident at Stanford University Hospital, Palo Alto, California, for nearly 2 years, where he first became involved in heart and heart-lung transplantation and has played a major role in the development of heart-lung transplantation at Papworth Hospital.

He performed Europe's first successful heart-lung transplant in 1984 and, with Professor Sir Roy Calne, the world's first heart-lung and liver transplant in 1986. During this period he and his colleague, Professor Tim Higenbottam, were the first to introduce the use of long-term Prostacycline for Primary Pulmonary Hypertension.

He was Director of the Transplant Service from 1989 to 2006, chaired the UK Transplant Cardiothoracic Advisory Group from 1994 to 2006 and was Medical Director of Papworth Hospital from 1997 to 2002. On October 1, 2002 the University of Cambridge awarded him an honorary Chair in Cardiothoracic Surgery.

About Pulmo BioTech Inc.

Pulmo BioTech Inc. specializes in the development and marketing of medical technology and research. Our proven strengths combine extensive commercial experience and academic credentials. The principal staff members are acknowledged experts in their specialized fields, and work with a broad range of investment institutions. Our mission is to utilize scientific imagination and drive, together with managerial and financial acumen, to bring innovative and profitable products to the marketplace to the benefit of all stock holders.

About PulmoScience Inc.

PulmoScience Inc. was established in 2006, and is currently developing a non-invasive Molecular Imaging technique for the diagnosis of Pulmonary Embolism, Pulmonary Hypertension and Lung Inflammatory diseases under the trade name PulmoBind.

PulmoScience was conceived within the Montreal Heart Institute "MHI" (a world renowned hospital and educational facility). Jointly owned by MHI subsidiary Innovacor as the technical and operational partner, Dr Jocelyn Dupuis (the scientific director and originator of the PulmoBind Molecular Imaging technology), and by Pulmo BioTech Inc. as the funding partner, PulmoScience Inc. aims to develop this unique and exciting technology, to fund necessary trials, and to bring the products to market.

PulmoScience believes that the market for its product candidates is worth in excess of $500 million per annum and that, provided Regulatory Approval is achieved, the safety and efficacy of its products could allow it to dominate that market.

About PulmoBind

PulmoBind uses an intravenously delivered radionuclide tagged molecule which specifically bonds to the inner walls of the circulatory system in the lungs, and by the use of an external Gamma Camera allows an image of the integrity of the blood vessels throughout the lungs to be seen by a diagnostic clinician. PulmoScience is currently undertaking Regulatory Approval for Phase I Human Trials, and, while subsequent results from additional tests might not corroborate the current results, PulmoScience believes that PulmoBind has the potential to dominate the market for the diagnosis of Pulmonary Embolism. In particular, this belief is driven by PulmoScience's expectations of the improved safety and efficacy that PulmoBind will offer when compared to the current incumbent nuclear medicine based technology for the diagnosis of Pulmonary Embolism. In addition, early indications are that PulmoBind could be highly effective in the early stage diagnosis of Pulmonary Hypertension, a condition for which there is no current front line diagnostic test. The addressable market for the product candidates being developed by PulmoScience is believed by the company to be worth in excess of $500 million per annum.

Forward-Looking Statements

Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. All statements regarding future performance, earnings projections, regulatory approval, events or developments are forward-looking statements. It is possible that the future performance of the company may differ materially from current expectations, depending on economic conditions and the uncertainty of regulatory approval. A change in economic conditions may have a particularly volatile effect on results. Among the other factors which may affect future performance are: competitive market conditions and resulting effects on sales and pricing; increases in raw-material costs that cannot be recovered in product pricing; and global economic factors, including difficulties entering new markets and general economic conditions such as inflation, interest rates and credit availability. The company makes these statements as of the date of this disclosure, and undertakes no obligation to update them.

CONTACT: Peter B. Hirshfield, Esq., of Hirshfield Law, +1-646-827-9362,
for Pulmo BioTech Inc.



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