Toronto Stock Exchange Symbol: DND
MISSISSAUGA, ON, Dec. 5 /CNW/ - Cipher Pharmaceuticals Inc. (TSX: DND)
today announced that Dr. Stefan Aigner, M.D., CFA, has been appointed to its
Board of Directors.
Dr. Aigner has more than 20 years of experience in the global healthcare
industry. He is currently the EVP, Corporate and Business Development for
Alpharma, Inc. (NYSE: ALO), a leading global specialty pharmaceutical company.
Before joining Alpharma, Dr. Aigner was co-founder and Executive Vice
President of Business Development for Reliant Pharmaceuticals, Inc., a
pharmaceutical company that specializes in the development, commercialization
and marketing of prescription therapeutic products. During his tenure with
Reliant, Dr. Aigner led the company through multiple product acquisitions and
significant in-licensing transactions and was responsible for building the
company's cardiovascular portfolio through strong partnerships with leading
U.S. and European companies. Prior to Reliant, Dr. Aigner was a consultant
with leading healthcare consulting firm The Wilkerson Group, where he focused
on development of corporate strategies, assessment of new products, and
evaluation of potential partnering candidates.
"Dr. Aigner brings a wealth of relevant experience in the U.S. specialty
pharmaceutical industry to Cipher's Board," said William Garriock, Chairman of
Cipher's Board of Directors. "His broad management expertise and deep
experience and proven track record in pharmaceutical corporate and business
development make him a valuable addition to our Board."
Dr. Aigner has also served in various medical and scientific roles within
leading medical institutions, including the University of Erlangen, Germany;
University of Birmingham, U.K.; Free University of Brussels, Belgium; and Mt.
Sinai Hospital, New York. Dr. Aigner graduated with a degree in medicine from
the University of Erlangen, Germany, and is a Chartered Financial Analyst
Dr. Aigner 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 ProEthic Pharmaceuticals
under the label Lipofen(TM). In addition, Cipher is developing formulations of
the pain reliever tramadol and the acne treatment isotretinoin.
Cipher is listed on the Toronto Stock Exchange under the symbol 'DND' and
has approximately 24 million shares outstanding. For more information, please
Statements made in this news release, other than those concerning
historical financial information, may be forward-looking and therefore subject
to various risks and uncertainties. Some forward-looking statements may be
identified by words like "may", "will", "anticipate", "estimate", "expect",
"intend", or "continue" or the negative thereof or similar variations. Certain
material factors or assumptions are applied in making forward-looking
statements and actual results may differ materially from those expressed or
implied in such statements. Factors that could cause results to vary include
those identified in the Company's Annual Information Form and other filings
with Canadian securities regulatory authorities, such as the applicability of
patents and proprietary technology; possible patent litigation; regulatory
approval of products in the Company's pipeline; changes in government
regulation or regulatory approval processes; government and third-party payer
reimbursement; dependence on strategic partnerships for product candidates and
technologies, marketing and R&D services; meeting projected drug development
timelines and goals; intensifying competition; rapid technological change in
the pharmaceutical industry; anticipated future losses; the ability to access
capital to fund R&D; and the ability to attract and retain key personnel. All
forward-looking statements presented herein should be considered in
conjunction with such filings. The Company does not undertake to update any
forward-looking statements; such statements speak only as of the date made.
For further information:
For further information: Craig Armitage, Investor Relations, The Equicom
Group, (416) 815-0700 ext 278, (416) 815-0080 fax, firstname.lastname@example.org;
Larry Andrews, President and CEO, Cipher Pharmaceuticals, (905) 602-5840 ext
324, (905) 602-0628 fax, email@example.com