Osprey Pharmaceuticals Names Jack M. Anthony as CEO



    
    Co-Founder Phil Coggins to Continue as President and CSO
    

    MONTREAL and SAN FRANCISCO, Sept. 26 /CNW/ -- Osprey Pharmaceuticals,
Ltd., a privately held biotechnology company developing first-in-class
Leukocyte Population Modulators (LPMs) for serious, chronic diseases,
announced today the appointment of Jack M. Anthony to Chief Executive Officer.
 Dr. Philip Coggins, who previously held the position of CEO will continue as
President and assume the new role of Chief Scientific Officer.  Mr. Anthony
will be based in San Francisco, where Osprey has located most administrative
functions, while concentrating its laboratory and R&D operations in Montreal,
Canada.
    "I am pleased to announce that Jack will take the helm of Osprey
Pharmaceuticals and assume additional responsibilities as CEO," said Philip
Coggins, President and co-founder of Osprey.  "Looking at the powerhouse of
talent assembled at Osprey, this transition is a 'no-brainer,' and as a
neurochemist I'm qualified to say that.  With Jack as CEO and with the recent
addition of Dr. Barbara Finck as Chief Medical Officer, we have the key
individuals in place to take Osprey to the next level."
    "These changes will best leverage the extensive experience and track
record of the senior management team at Osprey," said Janice LeCocq, Chairman
of the Board.  "This time next year we expect to have the first clinical proof
of concept of our LPMs in the treatment of renal disease (glomerulonephritis,
or GN).   By validating a new treatment modality, we expect to open up a broad
array of other clinical targets, building towards clinical and commercial
success."
    Mr. Anthony began his career in healthcare with Baxter Healthcare and
served the company for over 16 years, rising through the ranks to become Vice
President in the Blood Therapy Group.  In the 20 years since Baxter, he has
held various senior executive positions in a number of biotechnology companies
including Applied Immune Sciences (now part of Sanofi-Aventis), Inhale (now
Nektar), FibroGen and Tularik (acquired by Amgen).  Mr. Anthony was also CEO
of Pharmix, a computational chemistry company in the San Francisco area.  Most
recently, Mr. Anthony served as Osprey's Senior Vice President, Corporate
Development.
    "This is an exciting time for us as we plan to enter clinical testing
with our first product early next year and forge key partnerships around
specific fusion proteins emerging from our LPM platform," said Mr. Anthony. 
"I believe we are in an incredibly strong position to manage multiple clinical
trials as we advance our development pipeline and to engage experienced
partners where a strategic collaboration is the best means to achieve
late-stage development and commercialization."
    
    About Osprey Pharmaceuticals Ltd.
    
    Osprey Pharmaceuticals is a privately held biotechnology company focused
on developing and commercializing a first-in-class family of therapeutic
proteins (Leukocyte Population Modulators) 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 proprietary LPMs selectively and systematically
destroy disease-related leukocytes by infiltrating the chemokine system that
regulates the movement and activity of leukocytes.  The company expects to
initiate its first Phase Ib trial for chronic kidney disease in early 2008.
    Osprey has a highly productive R&D engine and has developed a portfolio
of 12 preclinical product candidates addressing a variety of diseases
including cancer, cardiovascular disease, and neurological disorders.  The
company anticipates initiating at least one clinical trial annually over the
next three years.  Osprey minimizes the risks inherent in drug development by
using a technology with the capability to address immune system dysfunction
system- wide, 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:
    Jack M. Anthony
    CEO
    anthony@ospreypharma.com
    

    
    Justin Jackson or John Cummings of Burns McClellan on behalf of Osprey
    jjackson@burnsmc.com
    jcummings@burnsmc.com
    Tel: 212-213-0006
    

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




For further information:

For further information: Jack M. Anthony, CEO of Osprey Pharmaceuticals,
 Ltd., anthony@ospreypharma.com; or Justin Jackson, jjackson@burnsmc.com,  or
John Cummings, jcummings@burnsmc.com, both of Burns McClellan for Osprey 
Pharmaceuticals, Ltd., +1-212-213-0006; or Robert Wagstaff, Vice President, 
Finance, of Osprey Pharmaceuticals, Ltd., +1-514-336-3118, 
wagstaff@ospreypharma.com Web Site: http://www.ospreypharma.com

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OSPREY PHARMACEUTICALS LIMITED

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