TORONTO, Dec. 6 /PRNewswire-FirstCall/ - ARIUS Research Inc., , a biotechnology company discovering and developing the next wave of antibody therapeutics, today announced that Mr. James Rae has been appointed to the Company's Board of Directors.
"As CEO of Viron Therapeutics, a former CEO of other Canadian biotechnology companies including Cangene, and a current director on several boards, Mr. Rae will be a valuable addition to the ARIUS Board of Directors," said Dr. David Young, President and Chief Executive Officer of ARIUS. "Furthermore, his experience in strategic value creation and sector transactions will provide ARIUS with knowledgeable counsel as we advance towards our first human clinical trials, planned for 2008."
Mr. Rae brings to the ARIUS Board more than 30 years of experience in manufacturing, marketing, finance and research & development for pharmaceutical and biotechnology firms. He is currently the President and CEO of Viron Therapeutics, a clinical stage biopharmaceutical company developing a new class of anti-inflammatory therapeutics to treat and prevent human inflammatory disorders. He is also the President and founder of Remedis, a consultancy specializing in the restructuring and financing of healthcare businesses. Prior to establishing Remedis, Mr. Rae was President and CEO of Cangene, a publicly-listed biotech company. Most recently, he served as the CEO of Cytochroma Inc., a Markham-based biotechnology company, which he transitioned over an 18-month period from a research entity to a company with advanced clinical development programs and a diversified product base. Mr. Rae is presently Chairman of Aegera Therapeutics, Montreal, Chairman of Queen's Scientific Breakthrough Fund and holds directorships in a number of Canadian biotech companies.
The Company also announced today that Diane Kalina has resigned from the Board of Directors but will remain available to provide counsel to ARIUS as a Consultant to the Board. Ms. Kalina is President of BioCatalyst Yorkton Ltd., a licensing and strategic alliance consulting company, and has recently been named President and CEO of the biotech start-up company, Pharmaceutical Development Corporation. "We would like to thank Diane for her contributions to the ARIUS Board," said Dr. Young. "Her guidance was of great assistance to the development of our business."
About ARIUS
ARIUS is a biotechnology company discovering and developing the next wave of antibody therapeutics. Established in 1999, ARIUS has built a proprietary technology platform, FunctionFIRST(TM), that rapidly identifies and selects antibodies based on their functional ability to affect disease. This antibody generation engine has enabled ARIUS to assemble a portfolio of more than 500 antibody candidates. In addition to the antibodies it is developing in-house, ARIUS has ongoing partnerships with key biotechnology and drug development companies. ARIUS is listed on the TSX under the symbol "ARI". For further information, visit www.ariusresearch.com
Forward-Looking Statements
Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements in this release include, but are not limited to, ARIUS successfully advancing its new product programs as well as licensing opportunities. These statements are only predictions and actual events or results may differ materially. Factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements include, but are not limited to: early stage of development; technology and product development; dependence on and management of current and future corporate collaborations; future capital needs; uncertainty of additional funding; no assurance of market acceptance; dependence on proprietary technology and uncertainty of patent protection; intense competition; manufacturing and market uncertainties; and government regulation. These and other factors are described in detail in ARIUS' Annual Report, forthcoming news releases and other filings with Canadian securities regulatory authorities available at www.sedar.com. Forward-looking statements are based on our current expectations and ARIUS is not obligated to update such information to reflect later events or developments.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this statement.
CONTACT: Warren Whitehead, C.M.A., Chief Financial Officer, ARIUS Research
Inc., (416) 862-2323 ext. 214, wwhitehead@ariusresearch.com,
contact@ariusresearch.com; James Smith, Investor Relations, (416) 815-0700
ext. 229, jsmith@equicomgroup.com
