OrthoLogic Appoints Dana B. Shinbaum Vice President, Business Development
24 October 2005 - 11:03PM
PR Newswire (US)
TEMPE, Ariz., Oct. 24 /PRNewswire-FirstCall/ -- OrthoLogic Corp.
(NASDAQ:OLGC) announced today the appointment of Dana B. Shinbaum
to the position of Vice President of Business Development. In this
newly created role, Mr. Shinbaum will be responsible for
identifying, evaluating and negotiating potential in-licensing
opportunities, marketing and development partners and other
possible collaborations. "We are happy to add Mr. Shinbaum's
strategic vision to the OrthoLogic Executive Management Team," said
Dr. James Pusey, Chief Executive Officer of OrthoLogic. "His
ability to identify collaboration agreements and execute strategic
business opportunities will help advance the development and
commercialization of our lead product, Chrysalin, and other
potential product candidates, and will bring long-term value to the
company and its shareholders." Mr. Shinbaum has nearly sixteen
years of experience in the pharmaceutical industry. He joins
OrthoLogic from Savient Pharmaceuticals, Inc. where he held
positions of increasing responsibility in marketing, strategic
planning and new product development, most recently as Vice
President, Product Planning & Market Analytics. While at
Savient his responsibilities included creating and developing new
business opportunities, leading global project teams and managing
product launches. He played key strategic planning roles in
Savient's acquisition of Rosemont Pharmaceuticals Ltd. and the
divestiture of Bio-Technology General Ltd., Savient's global
biologics business. Prior to joining Savient, Mr. Shinbaum was at
Wyeth-Ayerst Laboratories, where he served in a variety of market
planning and marketing roles, including Product Manager for the
PREMARIN(R) franchise. Mr. Shinbaum received a Master of Business
Administration from Drexel University in Philadelphia and a
Bachelor of Arts degree from Lafayette College in Easton,
Pennsylvania. About OrthoLogic OrthoLogic is a biotechnology
company focused on the development and commercialization of the
novel synthetic peptide Chrysalin(R) (TP508) in three lead
indications, all of which represent areas of significant unmet
medical need -- fracture repair, diabetic foot ulcer healing and
cartilage defect repair. Based on the Company's pioneering
scientific research of the natural healing cascade, OrthoLogic has
become the leading company focused on tissue and bone repair.
OrthoLogic is committed to developing a pipeline of novel peptides
and other molecules aimed at helping patients with equally
under-served conditions. The Company maintains exclusive worldwide
rights for Chrysalin. OrthoLogic's corporate headquarters are in
Tempe, Arizona. For more information, please visit the company's
Web site: http://www.orthologic.com/. Statements in this press
release or otherwise attributable to OrthoLogic regarding our
business that are not historical facts are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements, which include the
timing and acceptability of FDA filings and the efficacy and
marketability of potential products, involve risks and
uncertainties that could cause actual results to differ materially
from predicted results. These risks include: delays in obtaining or
inability to obtain FDA, institutional review board or other
regulatory approvals of preclinical or clinical testing;
unfavorable outcomes in our preclinical and clinical testing; the
development by others of competing technologies and therapeutics
that may have greater efficacy or lower cost; delays in obtaining
or inability to obtain FDA or other necessary regulatory approval
of our products; our inability to successfully and cost effectively
develop or outsource manufacturing and marketing of any products we
are able to bring to market; changes in FDA or other regulations
that affect our ability to obtain regulatory approval of our
products, increase our manufacturing costs or limit our ability to
market our products; our possible need for additional capital in
the future to fund the continued development of our Chrysalin
Product Platform; and other factors discussed in our Form 10-K for
the fiscal year ended December 31, 2004 our Form 10-Q for the
quarter ended March 30, 2005, and other documents we file with the
Securities and Exchange Commission. DATASOURCE: OrthoLogic Corp.
CONTACT: Media, Lauren Tortorete of Biosector 2, +1-212-845-5609, ,
or investors, Melanie Friedman of Stern Investor Relations,
+1-212-362-1200, both for OrthoLogic Corp. Web site:
http://www.orthologic.com/
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