Isotechnika Inc. Appoints Franklin M. Berger To Its Board Of Directors
EDMONTON, Feb. 22 /PRNewswire-FirstCall/ - Isotechnika Inc. announced today the appointment of Franklin M. Berger, CFA, to its Board of Directors. Mr. Berger, who is an independent biotechnology research analyst, currently serves as a Director of several biotechnology companies including VaxGen Inc. (VXGN; NASDAQ), Seattle Genetics Inc. (SGEN; NASDAQ) and ViroChem Pharma Inc. (private).
Mr. Berger was Managing Director in the U.S. Equity Research Department of J.P. Morgan Securities Inc., from May 1998 to March 2003, where he was Senior Biotechnology Analyst on the Global Health Care Research team. During his five years at J. P. Morgan Securities Inc., he was involved with the issuance of over $13 billion in biotechnology company equity or equity-linked securities. He was associated with several notable financings in the biotechnology sector including the Genentech IPO, the largest biotechnology financing ever executed.
The Wall Street Journal ranked Mr. Berger as the number 1 biotechnology analyst in its All-Star Analyst Survey in 1997 and ranked him number 2 in the 2000 Survey. In 2002, Institutional Investor Magazine ranked him in 3rd-place on its All-Star Research Team for biotechnology
"We are extremely pleased that Mr. Berger has agreed to join the Board of Isotechnika Inc. His extensive industry and Wall Street experience are very useful additions to Isotechnika, as the Company moves toward pivotal trials and ultimate commercialization of its lead product, ISA247. We have been looking for an individual with broad biotechnology expertise and experience in the U.S. capital markets. Mr. Berger fits our requirements perfectly," states Dr. Robert Foster, Executive Chairman of Isotechnika Inc.
Mr. Berger stated, "Isotechnika is at the forefront of advancing new drugs into clinical usage for improved outcomes in organ transplantation and auto-immune diseases. I look forward to an exciting period of activity and growth over the next years both in drug development and commercial operations."
Mr. Berger received his MBA from the Harvard Business School and earned both MA and BA degrees from the Johns Hopkins University. He began his career as a sell-side analyst at Josephthal & Co. in 1991, subsequently moving to Salomon Smith Barney in 1997 serving as Director, Equity Research and Senior Biotechnology Analyst. From 1985 to 1991, he worked at Pantagruel Partners, a seed venture capital company in New York, focusing exclusively on biotechnology investments. In 2000, he became a Founding Fellow of the Biotechnology Study Center at New York University School of Medicine.
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.
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.