Isotechnika Inc. Announces Additional Board Change
EDMONTON, Dec. 6 /PRNewswire-FirstCall/ - Isotechnika Inc. , a biopharmaceutical company focused on the discovery and development of novel immunosuppressive therapeutics, announced today that effective December 5, 2005, Mr. William Hoskins has resigned his position from its Board of Directors.
The Corporate Governance Committee regularly reviews the need for specific knowledge and skill among board members and identifies potential candidates for appointment to the Board that can satisfy identified requirements. As the Committee identifies possible candidates, the nomination process will be conducted in a timely manner. These Board changes, combined with the separation of the roles of Chairman and CEO which, announced November 3, 2005, are part of the evolution of Isotechnika and are consistent with contemporary corporate governance practices.
"We would like to thank Mr. Hoskins for his valued contributions to our Board and wish him well in his future endeavours," stated Dr. Robert Foster, Executive Chairman of Isotechnika.
Isotechnika Inc. is an international biopharmaceutical company headquartered in Edmonton, Alberta, Canada. Drawing upon its expertise in medicinal chemistry and immunology, the Company is focused on the discovery and development of novel immunosuppressive therapeutics that are safer than currently available treatments. Its entrepreneurial management and world-class team of scientists are building a pipeline of immunosuppressive drug candidates for treatment of autoimmune diseases and for use in the prevention of organ rejection in transplantation. Isotechnika looks to become the leader in development of immunosuppressant therapies.
Isotechnika's lead compound, ISA247 is an immunosuppressant currently in an extension protocol of a Canadian Phase III human clinical trial for the treatment of moderate to severe psoriasis. In addition, ISA247 has successfully completed a Phase IIa trial for kidney transplantation. The Company also has an additional immunosuppressive compound in its drug pipeline, TAFA93 which is in Phase I.
In addition to the Company's drug pipeline, Isotechnika also has a diagnostic division, which includes the Helikit(R) and Diatest(R) breath kits. The Helikit(R) a 13C urea breath test is used for the detection of H. pylori, a bacterium that infects a large portion of the population. The Diatest(R) a 13C glucose breath test is used to measure insulin resistance.
Isotechnika Inc. is a publicly traded company on the Toronto Stock Exchange under the symbol ISA. More information on Isotechnika can be found at www.isotechnika.com.
Isotechnika Inc. has a collaboration agreement with Hoffman La Roche which licensed the worldwide rights to develop and commercialize Isotechnika's novel molecule ISA247 for all transplant indications.
In addition, the Company has an exclusive worldwide licensing agreement with Atrium Medical Corporation for the use of ISA247 and TAFA93 specifically with drug eluting devices for the non-systemic treatment of vascular, cardiovascular, target vessel and tissue disorders.
This press release may contain forward-looking statements. Forward looking statements, including the Company's belief as to the potential of its products, the Company's expectations regarding the issuance of additional patents and the Company's ability to protect its intellectual property, involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the ability to economically manufacture its products, the potential of its products, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize its products, the ability of the Company to defend its patents from infringement by third parties, and the risk that the Company's patents may be subsequently shown to be invalid or infringe the patents of others. Investors should consult the Company's quarterly and annual filings with the Canadian commissions for additional information on risks and uncertainties relating to the forward- looking statements. Investors are cautioned against placing undue reliance on forward-looking statements.Isotechnika Inc.
CONTACT: Dr. Robert Foster, Executive Chairman, Isotechnika Inc., (780)487-1600 (246), (780) 484-4105 (fax), firstname.lastname@example.org; Dr. RandallYatscoff, President & CEO, Isotechnika Inc., (780) 487-1600 (246), (780)484-4105 (fax), email@example.com; Archived images on thisorganization are searchable through CNW Photo Archive website athttp://photos.newswire.ca. Images are free to accredited members of themedia. To request a free copy of this organization's annual report, pleasego to http://www.newswire.ca and click on Tools for Investors.