Toronto Stock Exchange Symbol: DND
MISSISSAUGA, ON, Nov. 3 /CNW/ - Cipher Pharmaceuticals Inc. (TSX: DND) today announced that Dr. William Claypool, M.D., has been appointed to its Board of Directors.
Since October 2008, Dr. Claypool has been a Senior Partner at Pennmark Associates, LLC, a pharmaceutical development consulting firm. Prior to that, Dr. Claypool served as President, CEO and Chairman of Phoenix Data Systems, Inc, from January 2001 until it was acquired by Bio-Imaging Technologies, Inc. in March 2008. From January 2001 until June 2001, he served as President and CEO of The GI Company. From 1991 to 2001 Dr. Claypool held a number of senior management positions with SmithKline Beecham Pharmaceuticals, including Senior Vice-President and Director of Worldwide Clinical Development and Medical Affairs. Dr. Claypool has served as Director of ViroPharma since December 2003 and was a member of the Board of Directors and served on the Audit Committee of 3 Dimensional Pharmaceuticals. Dr. Claypool received his medical degree from the University of Connecticut School of Medicine.
"I am very pleased to welcome William to Cipher's Board," said William Garriock, Chairman of Cipher Pharmaceuticals. "He brings a wealth of clinical development expertise, having led global clinical development at SmithKline Beecham, as well as significant Board-level experience in the life sciences industry, which makes him a valuable addition to our Board of Directors."
Dr. Claypool 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 Kowa Pharmaceuticals America under the label Lipofen(R). In addition, Cipher is developing formulations of the pain reliever tramadol (tentative FDA approval in February 2009) and the acne treatment isotretinoin (FDA approvable letter in April 2007).
Cipher is listed on the Toronto Stock Exchange under the symbol 'DND' and has approximately 24 million shares outstanding. For more information, please visit www.cipherpharma.com.
SOURCE Cipher Pharmaceuticals Inc.
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