EDMONTON, June 25 /CNW/ - Isotechnika Pharma Inc. (TSX:ISA), announced
that, effective June 22, 2009, Mr. Jonathan Ross Goodman, has assumed the
position as Chairman of the Board of Directors. Mr. Goodman is the founder,
President & CEO of Paladin Labs Inc., a Toronto Stock Exchange listed,
specialty pharmaceutical company with a market capitalization in excess of
$300 million dollars. Paladin has achieved 13 consecutive years of record
revenues with revenues growing at a compounded annual growth rate of 111%
since the company's founding in 1996. Paladin has been recognized by the
National Post as one of Canada's 50 Best Managed Companies, by Profit Magazine
as one of Canada's fastest growing technology companies, by Deloitte as a
Canadian Technology Fast 50, and, most recently, by the Quebec Federation of
Chambers of Commerce as best Quebec company in trade and distribution
(Mercuriades). Mr. Goodman is a recipient of the Globe and Mail's Top 40 Under
40 Award and was named Quebec Entrepreneur of the Year in the Life Sciences by
the National Post and Ernst & Young. Mr. Goodman is a member of the Board of
Directors of the Canadian Chamber of Commerce, Medicago Inc., and NeurAxon
Inc. and teaches an MBA course at McGill University on pharmaceutical
entrepreneurship. Mr. Goodman holds a B.A. with Great Distinction from McGill
University and the London School of Economics with 1st Class Honors.
Additionally, Mr. Goodman holds an LL.B. and MBA from McGill University. Mr.
Goodman is a member of the Bars of New York and Massachusetts. Mr. Goodman
replaces Mr. Donald Schurman who has resigned his position as Chairman and
Director of Isotechnika Pharma Inc.
Additionally, Isotechnika Pharma is pleased to announce the addition of
new Board member, Ms. Nancy Harrison, effective June 22, 2009. Nancy is a
co-founder of MSI Methylation Sciences Inc. and is former Senior Vice
President of Ventures West Management Inc. Ms. Harrison joined Ventures West
in 1993 and focused her efforts on the life sciences sector. Ms. Harrison is
one of the most experienced biotech investors in the Canadian venture capital
industry and was instrumental in Ventures West's involvement with Angiotech
Pharmaceuticals, Inc. (TSE IPO, 1997; NASDAQ, 2000) and AnorMed, Inc. (TSE
IPO, 1999) to name a few. In addition to her role at MSI, Ms. Harrison
currently donates her time as a Director of several not for profit groups
including the Family Services of the North Shore and Providence Health Care.
She is a past winner of the Globe and Mail's Top 40 Under 40 Award, a national
program that recognizes the professional and academic achievements of
individuals under the age of 40. Ms. Harrison holds a Bachelor of Applied
Science (Honours) from Queen's University and a MBA from McGill University.
"We are pleased to welcome Nancy and Jonathan to our Board, and we look
forward to their guidance as we embark on a new direction for the company"
stated Dr. Robert Foster, President and CEO of Isotechnika Pharma. "In
addition, we would like to thank Mr. Donald Schurman for his years of
dedicated service to the company".
The company also announces the resignation of Clemens Kaiser, Executive
Vice President and Chief Marketing Officer. Mr. Kaiser has been with
Isotechnika since October of 2007 and leaves to pursue other interests.
About Isotechnika Pharma
Edmonton-based Isotechnika Pharma Inc. is a biopharmaceutical company
focused on the discovery and development of novel immunosuppressive
therapeutics that are designed to offer advantages over other currently
available treatments. There is a significant unmet medical need in the
treatment of both solid organ transplantation and autoimmune disease. It is
estimated that the market potential will exceed $4 billion annually in sales
for calcineurin inhibitors such as voclosporin by 2010.
Isotechnika Pharma Inc. is a publicly traded company on the Toronto Stock
Exchange under the symbol "ISA". More information on Isotechnika Pharma can
be found at www.isotechnika.com or www.SEDAR.com.
This press release may contain forward-looking statements. Forward
looking statements, including the Company's belief as to the potential of its
products, the Company's expectations regarding the issuance of additional
patents and the Company's ability to protect its intellectual property,
involve known and unknown risks and uncertainties, which could cause the
Company's actual results to differ materially from those in the forward
looking statements. Such risks and uncertainties include, among others, the
availability of funds and resources to pursue research and development
projects, the ability to economically manufacture its products, the potential
of its products, the success and timely completion of clinical studies and
trials, the Company's ability to successfully commercialize its products, the
ability of the Company to defend its patents from infringement by third
parties, and the risk that the Company's patents may be subsequently shown to
be invalid or infringe the patents of others. Investors should consult the
Company's quarterly and annual filings with the Canadian commissions for
additional information on risks and uncertainties relating to the
forward-looking statements. Investors are cautioned against placing undue
reliance on forward-looking statements.
For further information:
For further information: Dr. Robert Foster, President & CEO, Isotechnika
Pharma Inc., (780) 487-1600 (247), (780) 484-4105 (fax),
firstname.lastname@example.org; Mr. Dennis Bourgeault, Chief Financial Officer,
Isotechnika Pharma Inc., (780) 487-1600 (226), (780) 484-4105 (fax),