Acasti Pharma Inc. to Welcome Dr. Harlan Waksal
21 July 2011 - 10:00PM
Acasti Pharma Inc. (Acasti) (TSX-V:APO), a subsidiary of Neptune
Technologies & Bioressources Inc., is pleased to announce the
nomination of Harlan Waksal M.D. as Executive Vice-President,
Business & Scientific Affairs.
Dr. Harlan Waksal will be involved in the execution of the
strategic development plan, especially in the clinical development
program which will lead to an Investigational New Drug (IND)
application with the Food and Drug Administration (FDA) of the
United States. Dr. Harlan Waksal will also be involved in other
scientific operations as well as in business development.
Dr. Harlan Waksal is a physician, co-founder of ImClone System
Incorporated and from 1987 to 2003 he held various positions at the
company which included serving on the ImClone Board of Directors,
Chief Operating Officer and Executive Vice-President, the President
and Chief Executive Officer. At ImClone System Dr. Harlan Waksal
was instrumental in guiding the development and obtaining FDA
approval for a new targeted biologic cancer therapy known as
Erbitux. ImClone Systems was acquired by Eli Lily for $6.5 B US in
October 2008. Dr. Harlan Waksal currently serves on the Board of
Directors of Oberlin College and Senesco Technologies, Inc. He is
the author of over 50 scientific publications and has been the
inventor of multiple patents and patent applications.
"I'm very enthusiastic to join the Acasti management team.
Acasti is a dynamic and very promising company with amazing
potential and I'm looking forward to contribute to its success,"
stated Dr. Harlan Waksal. "Dr. Harlan Waksal
represents a significant addition to the Acasti team; his
knowledge, experience, successes and credibility in the
pharmaceutical field as well as his credentials in the financial
world will contribute to improve, among others, Acasti US presence,
US program and to maximize shareholders' value," stated Henri
Harland, CEO. "We are very pleased with Harlan's commitment to
Acasti," he added.
On the other hand, in compliance with Canadian securities laws,
Acasti and its parent company, Neptune Technologies &
Bioressources Inc. will be releasing their first quarter financial
results under International Financial Reporting Standards (IFRS) on
or before August 15, 2011. Under Canadian securities laws, public
companies are entitled to use an additional 30 days period to
produce their first set of financial statements under IFRS. "Acasti
and Neptune results for the three-month period ended May 31st,
2011 are in line with their financial forecasts, and both
companies have decided to utilize the extended period allowed for
the publication of their financial statements under IFRS because of
the additional work load resulting from a transition to new
reporting accounting standards," stated Xavier Harland, CFO.
About Acasti Pharma Inc.
Acasti Pharma is developing a product portfolio of proprietary
novel long-chain omega-3 phospholipids. Phospholipids are the
major component of cell membranes and are essential for all vital
cell processes. They are one of the principal constituents of High
Density Lipoprotein (good cholesterol) and, as such, play an
important role in modulating cholesterol efflux. Acasti Pharma's
proprietary novel phospholipids carry and functionalize the
polyunsaturated omega-3 fatty acids EPA and DHA, which have been
shown to have substantial health benefits and which are stabilized
by potent antioxidants. Acasti Pharma is focusing initially on
treatments for chronic cardiovascular conditions within the
over-the-counter, medical food and prescription drug markets.
About Neptune Technologies & Bioressources
Inc.
Neptune (Nasdaq:NEPT) (TSX-V:NTB) is an industry-recognized
leader in the innovation, production and formulation of
science-based and clinically proven novel phospholipid products for
the nutraceutical and pharmaceutical markets. The Company focuses
on growing consumer health markets including cardiovascular,
inflammatory and neurological diseases driven by consumers taking a
more proactive approach to managing health and preventing disease.
The Company sponsors clinical trials aimed to demonstrate its
product health benefits and to obtain regulatory approval for label
health claims. Neptune is continuously expanding its intellectual
property portfolio as well as clinical studies and regulatory
approvals. Neptune's products are marketed and distributed in over
20 countries worldwide. Neptune is the mother company of Acasti and
NeuroBioPharm.
"Neither Nasdaq nor the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995 and Canadian securities laws. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other unknown factors that could cause the
actual results of the Company to be materially different from
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are
urged to consider statements labeled with the terms "believes,"
"belief," "expects," "intends," "anticipates," "will," or
"plans" to be uncertain and forward-looking. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in the
Company's reports filed with the Securities and Exchange Commission
and the Canadian securities commissions.
CONTACT: Acasti Contact:
Tina Sampalis
President
+1 450.686.4555
t.sampalis@acastipharma.com
www.acastipharma.com
Xavier Harland
Chief Financial Officer
+1.450.687.2262
x.harland@acastipharma.com
www.acastipharma.com
Howard Group Contact:
Bob Beaty
(888) 221-0915
bob@howardgroupinc.com
www.howardgroupinc.com
New Tymbal Resources (TSXV:NTB)
Historical Stock Chart
From Jun 2024 to Jul 2024
New Tymbal Resources (TSXV:NTB)
Historical Stock Chart
From Jul 2023 to Jul 2024