Osprey Pharmaceuticals Limited Appoints Jack M. Anthony to the Newly Created Position of Senior Vice President, Corporate Development



    MONTREAL, April 24 /CNW/ -- Osprey Pharmaceuticals Limited, a privately
held biotechnology company focused on treating chronic diseases through a
family of first-in-class therapeutic proteins, has named veteran
pharmaceutical and biotechnology industry executive Jack M. Anthony to the
newly created position of senior vice president of corporate development.
    "Jack brings a wealth of experience, an incredible track record and a
global network of contacts in marketing and business development to Osprey at
a time when the firm is rapidly advancing its preclinical programs into the
clinic," said Chief Executive Officer Phil Coggins. "We are extremely pleased
to have Jack join our executive team, particularly as Osprey makes the
transition into a full-fledged drug development company."
    Mr. Anthony most recently was chief executive officer at Pharmix Corp., a
San Francisco-based computational design drug company. Prior to Pharmix, Mr.
Anthony was responsible for creating many successful in-licensing and out-
licensing partnerships, as senior vice president of business development at
Saegis Pharmaceuticals, now part of Lundbeck of Denmark. Mr. Anthony also was
senior vice president of business development at Tularik, where he played an
instrumental role in the acquisition of Tularik by Amgen in 2004.
    Mr. Anthony has served in senior business development and marketing
positions at such innovative biotechnology firms as FibroGen, Cell
Therapeutics, and Inhale (now Nektar) Therapeutics, negotiating research,
development and commercialization deals with numerous universities, and global
biotechnology and pharmaceutical companies. Mr. Anthony began his career in
life sciences with Baxter Healthcare Corporation, where he spent more than 15
years, ultimately serving as a vice president of Baxter's Blood Therapy Group.
He earned a Bachelor of Science degree in biology from Allegheny College.
    Mr. Anthony will be forging development and commercialization deals for
key Osprey compounds in order to reach the full potential of Osprey's
Leukocyte Population Modulators (LPMs) in human disease. He and the Osprey
team will prioritize the selection of LPMs for the development of multiple
proof-of-concept trials. Osprey anticipates beginning three clinical trials
annually over the next three years in the areas of cancer, cardiovascular
disease, and immunological and neurological disorders. Its lead product
candidate, a therapeutic for treating chronic kidney disease, will enter the
clinic in the second half of this year.
    "Osprey is a business development executive's dream: It boasts a targeted
yet flexible approach to the management of leukocytes that are out of control
and causing havoc in nearly 200 distinct diseases," Mr. Anthony said. "I am
delighted to become a member of the executive team at Osprey, as we enter the
clinic with a platform that is not only powerful but scalable. This company
has the potential to truly make a difference for millions of patients
worldwide."

    About Osprey Pharmaceuticals Ltd.

    Osprey Pharmaceuticals Limited is a privately held biotechnology company
focused on commercializing a unique family of therapeutic proteins capable of
treating chronic diseases. Osprey's broad technology platform is based on the
critical insight that many common diseases are propagated by overabundant and
overactive leukocytes. The company's patented Leukocyte Population Modulators
selectively and systematically destroy these disease-related leukocytes by
infiltrating the chemokine system - a complex network of small proteins and
their receptors that regulate the movement and activity of leukocytes. The
company expects to initiate a Phase I/II trial for chronic kidney disease in
the second half of 2007.
    Osprey has developed a portfolio of 12 preclinical LPM product candidates
addressing a variety of diseases including cancer, cardiovascular disease, and
immunological and neurological disorders, and the company anticipates
initiating at least one clinical trial annually over the next three years.
Osprey minimizes the risks inherent to drug development and commercialization
by using a technology that can rapidly generate new product candidates, and
then uniformly applying standardized testing and manufacturing protocols
across its portfolio. Osprey Pharmaceuticals is based in Montreal, Canada and
can be found online at www.ospreypharma.com.

    Contacts

    Phil Coggins, PhD
    President & CEO
    coggins@ospreypharma.com
    Tel: 514-336-3118

    Robert Wagstaff
    Vice President, Finance
    wagstaff@ospreypharma.com
    Tel: 514-336-3118

    Or Susan Thomas or John Cummings from
    Burns McClellan on behalf of Osprey
    jcummings@burnsmc.com
    sthomas@burnsmc.com
    Tel: 415-352-6262




For further information:

For further information: Phil Coggins, PhD, President & CEO,
coggins@ospreypharma.com, (514) 336-3118, or Robert Wagstaff, Vice President,
Finance, wagstaff@ospreypharma.com, (514) 336-3118, both of Osprey
Pharmaceuticals Limited; or Susan Thomas, sthomas@burnsmc.com, or John
Cummings, jcummings@burnsmc.com, of Burns McClellan for Osprey, (415)
352-6262

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OSPREY PHARMACEUTICALS LIMITED

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