WALTHAM, Mass., Feb. 3 /PRNewswire-FirstCall/ -- Arbios Systems, Inc. a biomedical device company developing proprietary liver assist devices for the treatment of liver failure, announced today that the Company has appointed Richard W. Bank, M.D. to its Board of Directors.
Dr. Bank has served as Senior Portfolio Manager, Managing Director and Senior Vice President of the LibertyView Health Sciences Fund, a division of LibertyView Capital Management -- a Lehman Brothers company -- since July 2004. He has served as President and Managing Director of First-Tier Biotechnology Partners since February of 1995. Since its inception in April 1996, Dr. Bank has also served as President and Secretary of BioVest Health Sciences, Incorporated.
During his career, Dr. Bank has consulted for numerous biotechnology companies. He was also Entrepreneur-In-Residence in Life Sciences for Tucker Anthony Sutro from 2000 through 2001. From 1998 to 1999, Dr. Bank was Senior Research Analyst Director/Biotechnology at SBC Warburg Dillon Read. Prior to that, from February 1995 through April 1996, Dr. Bank served as President and Secretary of Biomedical Sciences, Incorporated. Dr. Bank was co-founder and Medical Director of USAT Labs from December 1986 until January 1988.
Currently, Dr. Bank is Clinical Professor Emeritus in the Department of Obstetrics and Gynecology at the University of Southern California School of Medicine, where he has been on the active faculty for the last 25 years. Until 1995, Dr. Bank was also a senior attending physician at Cedars Sinai Hospital in Los Angeles. From 1980 to 1982, he was Chief of Gynecology at Century City Hospital and Beverly Hills Medical Center. He was appointed Medical Commissioner for the Los Angeles Summer Olympic Games in 1981. Dr. Bank received his B.S. from Washington & Lee University and his M.D. from Finch University of Health Sciences, The Chicago Medical School, where he was the recipient of a NIH research fellowship.
Commenting on this appointment, John Vierling, M.D., FACP. Chairman of the Board of Arbios Systems, said, "Dick's involvement with Arbios goes back several years, both as an investor and prior Board member. His strong industry expertise and entrepreneurial career in investment fund management and medicine, will allow him to play a critical role as we continue to develop our proprietary liver assist devices and move closer to commercialization. I am very pleased to welcome him back to our Board of Directors."
Arbios Systems, Inc. is a medical device and cell-based therapy company that is engaged in the discovery, acquisition and development of proprietary liver assist devices and new technologies useful in the diagnosis and treatment of liver failure. Arbios' products in development include SEPET(TM), a novel blood purification therapy and HepatAssist-2(TM), a bioartificial liver combining liver cell therapy and sorbent-based detoxification. For further information on the Company, go to http://www.arbios.com.
This press release contains forward-looking statements that involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to obtaining clinical site approvals, manufacturing SEPET(TM) cartridges, enrolling patients, compliance with regulatory requirement, the results of the clinical tests to be conducted by the company, the need for subsequent substantial additional financing to complete clinical development of its products, and Arbios' ability to successfully market its products and technologies. These statements represent the judgment of Arbios' management as of this date and are subject to risks and uncertainties that could materially affect the company. The company does not undertake any obligation to publicly release the result of any revisions to such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. SEPET(TM) and HepatAssist-2(TM) are trademarks of Arbios Technologies, Inc., the subsidiary of Arbios Systems, Inc.
Arbios Systems, Inc.CONTACT: Walter Ogier, President & CEO of Arbios, +1-781-839-7293,wogier@arbios.com, or Investors, Paula Schwartz +1-917-322-2216, or Media,Pat Garrison +1-917-322-2567, both of RX COMMUNICATIONS GROUP
Web site: http://www.arbios.com/
