SAN DIEGO, CA and VANCOUVER, July 15, 2013 /PRNewswire/ - Sophiris Bio Inc.
(Sophiris, TSX: SHS) (the "Company" or "Sophiris"), a biopharmaceutical
company developing a clinical-stage, targeted treatment for the
symptoms of benign prostatic hyperplasia (BPH or enlarged prostate),
today announced the appointment of Joseph Turner to its Board of
Directors effective and contingent upon the closing of the Company's
proposed initial U.S. public offering of its common shares and listing
on The NASDAQ Stock Market LLC.
Mr. Turner has more than 25 years of financial management experience in
the biotech and pharmaceutical industries. Mr. Turner currently serves
on the Boards of Directors and is the chair of the audit committees of
three publicly-traded pharmaceutical companies: Kythera
Biopharmaceuticals (NASDAQ: KYTH), Alexza Pharmaceuticals, Inc.
(NASDAQ: ALXA) and Corcept Therapeutics, Inc. (NASDAQ: CORT). From 1999
to 2006, Mr. Turner spent seven years as Chief Financial Officer at
Myogen, Inc., until the sale of the company to Gilead Sciences. Prior
to Myogen, from 1997 to 1999, Mr. Turner served as Vice President of
Finance at Centaur Pharmaceuticals, a pharmaceutical company, and from
1992 to 1997, Mr. Turner served as Vice President of Finance at
Cortech, Inc., a biopharmaceutical company. Mr. Turner received an
M.B.A. from the University of North Carolina at Chapel Hill, an M.A. in
Molecular Biology from the University of Colorado, and a B.A. in
chemistry from Swarthmore College.
"Joe brings extensive experience to our Board of Directors in strategic
planning, finance, investment banking and investor relations in the
biotech industry," said Randall Woods, President and Chief Executive
Officer of Sophiris. "We look forward to Joe joining our board and
contributing to the long-term finance strategy for the Company."
Sophiris Bio Inc. is a biopharmaceutical company developing a
clinical-stage, targeted treatment for the symptoms of benign prostatic
hyperplasia (BPH or enlarged prostate), which it believes is an
unsatisfied market with significant market potential. Sophiris' lead
candidate for BPH, PRX302, is designed to be as efficacious as
pharmaceuticals, less invasive than the surgical interventions, and
without the sexual side effects seen with existing treatments. Sophiris
is planning to begin a Phase 3 clinical trial of PRX302 in the second
half of 2013 subject to raising additional capital. For more
information, please visit www.sophirisbio.com.
Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those
implied by such statements, and therefore these statements should not
be read as guarantees of future performance or results. All
forward-looking statements are based on Sophiris' current beliefs as
well as assumptions made by and information currently available to
Sophiris and relate to, among other things, anticipated financial
performance, business prospects, strategies, regulatory developments,
market acceptance and future commitments. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Due to risks and
uncertainties, including the risks and uncertainties identified by
Sophiris in its public securities filings; actual events may differ
materially from current expectations. Sophiris disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
This release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
SOURCE Sophiris Bio, Inc.