Toronto
Stock Exchange Symbol: DND
MISSISSAUGA, ON,
Nov. 3
/CNW/ - Cipher Pharmaceuticals Inc. (TSX: DND) today announced that
Dr. William Claypool
, M.D., has been appointed to its Board of Directors.
Since
October 2008
,
Dr. Claypool
has been a Senior Partner at Pennmark Associates, LLC, a pharmaceutical development consulting firm. Prior to that,
Dr. Claypool
served as President, CEO and Chairman of
Phoenix
Data Systems, Inc, from
January 2001
until it was acquired by Bio-Imaging Technologies, Inc. in
March 2008
. From
January 2001
until
June 2001
, he served as President and CEO of The GI Company. From 1991 to 2001
Dr. Claypool
held a number of senior management positions with SmithKline Beecham Pharmaceuticals, including Senior Vice-President and Director of Worldwide Clinical Development and Medical Affairs.
Dr. Claypool
has served as Director of ViroPharma since
December 2003
and was a member of the Board of Directors and served on the Audit Committee of 3 Dimensional Pharmaceuticals.
Dr. Claypool
received his medical degree from the University of Connecticut School of Medicine.
"I am very pleased to welcome William to Cipher's Board," said William Garriock, Chairman of Cipher Pharmaceuticals. "He brings a wealth of clinical development expertise, having led global clinical development at SmithKline Beecham, as well as significant Board-level experience in the life sciences industry, which makes him a valuable addition to our Board of Directors."
Dr. Claypool
will serve on Cipher's Nominating and Governance, Compensation, and Audit Committees.
About Cipher Pharmaceuticals Inc.
Cipher Pharmaceuticals is a drug development company focused on commercializing novel formulations of successful, currently marketed molecules using advanced drug delivery technologies. Cipher's strategy is to in-license products that incorporate proven drug delivery technologies and advance them through the clinical development and regulatory approval stages, after which the products are out-licensed to international partners. Because Cipher's products are based on proven technology platforms applied to currently marketed drugs, they are expected to have lower approval risk, shorter development timelines and significantly lower development costs. The Company's lead compound, CIP-FENOFIBRATE, received final approval from the U.S. Food and Drug Administration and Health
Canada
in the first quarter of 2006. The product is being marketed in the
United States
by Kowa Pharmaceuticals America under the label Lipofen(R). In addition, Cipher is developing formulations of the pain reliever tramadol (tentative FDA approval in
February 2009
) and the acne treatment isotretinoin (FDA approvable letter in April 2007).
Cipher is listed on the
Toronto
Stock Exchange under the symbol 'DND' and has approximately 24 million shares outstanding. For more information, please visit www.cipherpharma.com.
%SEDAR: 00020415E
For further information: Craig Armitage, Investor Relations, The Equicom Group, (416) 815-0700 ext 278, (416) 815-0080 fax, [email protected]; Larry Andrews, President and CEO, Cipher Pharmaceuticals, (905) 602-5840 ext 324, (905) 602-0628 fax, [email protected]
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