EDMONTON, Jan. 5, 2012 /CNW/ - Compass Biotechnologies, Inc. (COBIE:OB or "Compass"), previously headquartered in Edmonton, Alberta Canada is relocating
their headquarters to Phoenix, Arizona. Compass is a publically-traded specialty pharmaceutical company focused on
building value in several key market areas - women's health, anti-viral
drugs and prophylactic vaccines against hepatitis, recombinant protein
therapeutics called "biobetters", and a cytokine reagents and growth
factor supplements business servicing the cell culture and biotech
The relocation of business operations to Phoenix also comes with the
appointment of Mr. Garth Likes to Chairman of the Board, and the
subsequent appointment of Dr. Joseph Sinkule as CEO and President. "The
move to Phoenix at this time stems from the previously announced
restructuring of various operational business units of the Company in
which we will have four complimentary but somewhat distinctive
operational initiatives, and it is felt that the day to day operations
of these units can be better handled from new headquarters in Phoenix"
stated Mr. Likes.
"The Board will recruit new management to oversee each business unit
operation with offices based in the U.S., Europe, and Asia with a
common vision to take the company to a new level." stated Dr. Sinkule,
the new CEO of Compass. Dr. Sinkule continues, "The Board is recruiting
a management team that will help Compass to develop a culture of product commercialization. The Compass management team will oversee all "front office" and "back office"
activities of each business unit. By keeping the team small, frugal and
efficient, we will advance our products with passion and persistence,
and attempt to execute better than other companies with larger
Compass recently announced that it has restructured itself internally to form
several franchises or business units working in different therapeutic
areas but using a common, versatile, core management team overseeing
all aspects of business, finance, and product development going on in
each franchise. The Company is working on the commercialization of
certain generic products that will generate revenue near-term, as well
as patented, proprietary products that have a significant return on
investment but have a longer development time.
ABOUT COMPASS BIOTECHNOLOGIES INC.
Compass Biotechnologies, Inc. is a publically-traded specialty pharmaceutical company (COBI:OB)
focused on building value in several key market areas - women's health,
hepatitis anti-viral drugs and prophylactic vaccines, recombinant
protein therapeutics called "biobetters", and cytokine reagents and
growth factor supplements for the cell culture and biotech
manufacturing industries. Products in these areas are being developed
within business units or franchises with majority ownership held by Compass Biotechnologies, Inc.
Forward Looking Statements
This news release contains "forward-looking statements", as that term is
defined in Section 27A of the United States Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Statements in this
current report which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results could
differ from those projected in any forward-looking statements due to
numerous factors. Such factors include, among others, the inherent
uncertainty of financial estimates and projections, the competitive and
regulatory environments, stock market conditions, unforeseen technical
difficulties and our ongoing ability to operate a business and obtain
financing. These forward-looking statements are made as of the date of
this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual results
could differ from those projected in the forward-looking statements. Although we believe that our beliefs, plans, expectations and intentions
contained in this current report are reasonable, there can be no
assurance that such beliefs, plans, expectations or intentions will
prove to be accurate. Investors should consult all of the information
set forth herein and should also refer to the risk factors disclosure
outlined in our quarterly reports on Form 10-Q and our other periodic
reports filed from time-to-time with the Securities and Exchange
Commission pursuant to the Securities Exchange Act.
SOURCE Compass Biotechnologies Inc.
For further information:
Compass Biotechnologies, Inc.
Dr. Joseph Sinkule
CEO and President
4105 N. 20th Street
Phoenix, AZ 85106 USA