Lorus Therapeutics announces election of three new Directors and appoints a new Chairman
20 September 2007 - 12:23PM
PR Newswire (US)
TORONTO, Sept. 19 /PRNewswire-FirstCall/ -- Lorus Therapeutics Inc.
(TSX: LOR; AMEX: LRP), a biopharmaceutical company specializing in
the research and development of pharmaceutical products and
technologies for the management of cancer, today announced that Dr.
Denis Burger, Ms. Susan Koppy and Dr. Mark Vincent were elected to
the Board of Directors of Lorus at the Annual General Meeting on
September 19, 2007. Dr. Burger has been unanimously elected as the
Chairman of the Board by the Board of the Directors. Other members
returning to Lorus' Board are Herbert Abramson, Chairman and CEO of
Trapeze Capital Corp.; J. Kevin Buchi, EVP and CFO of Cephalon
Inc.; Georg Ludwig, Managing Director of ConPharm Anstalt; Alan A.
Steigrod, Managing Director of Newport Healthcare Ventures; Dr. Jim
A. Wright, CEO of NuQuest Bio Inc.; and Dr. Aiping Young, President
and CEO of Lorus Therapeutics Inc. Denis R. Burger Dr. Denis R.
Burger has co-founded Trinity Biotech plc, based in Dublin, Ireland
in June 1992 and acted as Chairman from 1992 to 1995 and now serves
on the Board of Directors of the Company. Dr. Burger was the past
Chairman, Chief Executive Officer and a director of AVI Biopharma
Inc, an Oregon based biotechnology company. Dr. Burger is also a
partner in Sovereign Ventures, a healthcare consulting and funding
firm based in Portland, Oregon. He was a co-founder and, from 1981
to 1990, Chairman of Epitope Inc. In addition, Dr. Burger has held
a professorship in the Department of Microbiology and Immunology
and Surgery (Surgical Oncology) at the Oregon Health Sciences
University in Portland. Dr. Burger received his Master of Science
and PhD in Microbiology and Immunology from the University of
Arizona. Susan Koppy Susan Koppy is the senior vice president,
business and corporate development of Idenix Pharmaceuticals since
January 2006. Prior to joining Idenix, Ms. Koppy was with Applied
Biosystems, Inc. as vice president of strategy and business
development from May 2004 to July 2005. Previously, from 2001-2004,
Ms. Koppy served as director of business development for Novartis
Pharmaceuticals AG focusing on its Infectious Diseases Franchise.
Prior to that, since February 2000, Ms. Koppy was Novartis' head of
commercial and business intelligence. Mark Vincent Dr. Mark Vincent
is the co-founder and Chief Executive Officer of Sarissa, Inc.
since 2000. Dr. Vincent has extensive experience as a consultant to
Canadian and U.S. biotech and pharma companies. He served as a
Director of Drug Royalty Corporation and also sits as a member of
Scientific Advisory Board for several biotechnology companies. Dr.
Vincent is an Associate Professor of Oncology at the University of
Western Ontario and a staff medical oncologist at the London
Regional Cancer Program. "On behalf of the Board of Directors, I am
delighted to welcome these three talented and highly qualified
individuals to our Board. They all bring to Lorus an exceptional
level of knowledge and experience in the pharmaceutical industry,
which will contribute to the advancement of our drug candidates",
commented Dr. Aiping Young, President and CEO of Lorus. "The
newly-appointed Directors will provide expertise in areas of
clinical development; facilitating investment and strategic
partnering opportunities; and raising the profile of the Company
nationally and internationally. I look forward to the input of all
of our Board members and working with them, to enhance shareholder
value." About Lorus Lorus is a biopharmaceutical company focused on
the research and development of novel therapeutics in cancer.
Lorus' goal is to capitalize on its research, preclinical, clinical
and regulatory expertise by developing new drug candidates that can
be used, either alone, or in combination with other drugs, to
successfully manage cancer. Through its own discovery efforts and
an acquisition and in-licensing program, Lorus is building a
portfolio of promising anticancer drugs. Lorus has completed one
Phase II and one Phase III clinical trial. Lorus Therapeutics Inc.
is listed on the Toronto Stock Exchange under the symbol LOR, and
on the American Stock Exchange under the symbol LRP. Forward
looking statements This press release contains forward-looking
statements within the meaning of Canadian and U.S. securities laws.
Such statements include, but are not limited to, statements
relating to: financings and corporate reorganizations, the
establishment of corporate alliances, the Company's plans,
objectives, expectations and intentions and other statements
including words such as "continue", "expect", "intend", "will",
"should", "would", "may", and other similar expressions. Such
statements reflect our current views with respect to future events
and are subject to risks and uncertainties and are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by us are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors could cause our actual results,
performance, achievements or the transactions described in this
press release to be materially different from any future results,
performance, achievements transactions described in this press
release, if at all, that may be expressed or implied by such
forward-looking statements, including, among others: the progress
of negotiations; our ability to obtain regulatory, securityholder
and other approvals; our ability to obtain the capital required for
research and operations; the inherent risks in early stage drug
development including demonstrating efficacy; development time/cost
and the regulatory approval process; the progress of our clinical
trials; our ability to find and enter into agreements with
potential partners; our ability to attract and retain key
personnel; changing market conditions; and other risks detailed
from time-to-time in our ongoing quarterly filings, annual
information forms, annual reports and annual filings with Canadian
securities regulators and the United States Securities and Exchange
Commission. Should one or more of these risks or uncertainties
materialize, or should the assumptions set out in the section
entitled "Risk Factors" in our filings with Canadian securities
regulators and the United States Securities and Exchange Commission
underlying those forward-looking statements prove incorrect, actual
results may vary materially from those described herein. These
forward-looking statements are made as of the date of this press
release and we do not intend, and do not assume any obligation, to
update these forward-looking statements, except as required by law.
We cannot assure you that such statements will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Investors are cautioned that
forward-looking statements are not guarantees of future performance
and accordingly investors are cautioned not to put undue reliance
on forward-looking statements due to the inherent uncertainty
therein. Lorus Therapeutics Inc.'s recent press releases are
available through its website at http://www.lorusthera.com/.
DATASOURCE: Lorus Therapeutics Inc. CONTACT: Enquiries: Lorus
Therapeutics Inc., Dr. Saeid Babaei, (416) 798-1200 ext. 490,
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