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CAPNIA, Inc. Appoints William G. Harris To Its Board Of Directors


6/30/2014 9:55:17 AM

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REDWOOD CITY, Calif., June 30, 2014 /PRNewswire/ -- Capnia, Inc., a privately held maker of diagnostic devices to detect analytes in exhaled breath, today announced the appointment of William G. Harris to its Board of Directors. Mr. Harris brings to Capnia more than 20 years of financial expertise and experience in the biomedical and pharmaceutical industry.

"Bill Harris has built value in multiple emerging life science companies with his skills in financial strategy, fundraising, and financial operations," stated Anish Bhatnagar, M.D., Chief Executive Officer of Capnia. "We look forward to Bill's valuable contributions as we launch the CoSense diagnostic device later this year, and develop additional future diagnostic products based on our Sensalyze technology."

"Through extensive experience as a financial executive in the life sciences, Bill understands the key elements necessary for building a successful business in our industry," said Ernest Mario, Ph.D., Chairman of the Board. "We look forward to having his perspectives as a Director, and to leveraging his expertise as Capnia transitions to a commercial company later this year."

"I believe Capnia's CoSense product and Sensalyze Technology Platform provide significant opportunities to build a diagnostics franchise over the next several years," stated Mr. Harris. "I am excited to join the Capnia's Board of Directors and look forward to contributing to the Company's future success."

Since 2001, Mr. Harris has been the Senior Vice President of Finance and Chief Financial Officer of Xenoport, Inc. From 1996 to 2001, he held several positions with Coulter Pharmaceutical, Inc., a biotechnology company which was acquired by Corixa in 2000, the most recent of which was Senior Vice President and Chief Financial Officer. Prior to Coulter Pharmaceutical, Mr. Harris held several positions at Gilead Sciences, Inc., the most recent of which was director of finance. Mr. Harris received a B.A. from the University of California, San Diego and an M.B.A. from Santa Clara University, Leavey School of Business and Administration.

About CoSense

CoSense aids in the diagnosis of hemolysis, a dangerous condition in which red blood cells degrade rapidly. Hemolysis, when it occurs in neonates, can lead to long-term developmental disability. CoSense is 510(k) cleared for sale in the U.S., and received CE Mark approval for sale in the E.U. Capnia anticipates commercializing CoSense in the second half of 2014.

About Capnia

Capnia, Inc., a privately held company headquartered in Redwood City, California, develops diagnostics based on its proprietary Sensalyze technology for precision metering of gas flow.

Forward-Looking Statements

This communication contains forward-looking statements that are subject to many risks and uncertainties. Forward looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, our ongoing and planned product development and clinical trials; the timing of, and our ability to make, regulatory filings and obtain and maintain regulatory approvals for our product candidates; our intellectual property position; the degree of clinical utility of our products, particularly in specific patient populations; our ability to develop commercial functions; expectations regarding product launch and revenue; our results of operations, cash needs, and spending of the proceeds from this offering; financial condition, liquidity, prospects, growth and strategies; the industry in which we operate; and the trends that may affect the industry or us.

We may use terms such as "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained herein, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward-looking statements contained in this presentation. As a result of these factors, we cannot assure you that the forward-looking statements in this presentation will prove to be accurate.

Capnia has filed a registration statement for an offering of securities on SEC Form S-1, which you can access at http://edgar.sec.gov. You should also read carefully the factors described in the "Risk Factors" section and other parts of any offering prospectus we may in the future distribute, in order to to better understand the risks and uncertainties inherent in our business and underlying any forward-looking statements.

Contact Information:

Antoun Nabhan
Vice President, Corporate Development
Capnia, Inc.
(650) 353-5091
anabhan@capnia.com

OR

David Pitts
Argot Partners
212-600-1902
david@argotpartners.com

SOURCE Capnia, Inc.



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