TORONTO, Nov. 9 /CNW/ - Fralex Therapeutics Inc. (TSX:FXI) ("Fralex" or
the "Company"), a medical technology company developing neuromodulation
therapy, announced today that David Chazanovitz has agreed to join the Board
"Dave brings more than 30 years of medical device industry experience to
our Board, having grown businesses in multiple disciplines," said Avi Grewal,
President and CEO of Fralex. "His insight will prove valuable to the Board of
Directors and Management."
Mr. Chazanovitz served as Chief Executive Officer of Cambridge Heart,
Inc. (CAMH:OTCBB) from February 2001 through October 2006 and as the President
and a director of Cambridge Heart from October 2000 through October 2006,
including service as the Chairman of the Board of Directors from July 2004 to
October 2006. Cambridge Heart is engaged in the research, development and
commercialization of products for the non-invasive diagnosis of cardiac
disease. From July 1998 to September 2000, Mr. Chazanovitz served as the
President of the Neurosciences Division of NMT Medical Inc., a medical device
firm. From June 1996 to July 1998, Mr. Chazanovitz served as the President of
the Septal Repair Division of NMT, following the merger of Innerventions, Inc.
with NMT. Mr. Chazanovitz was a founder in 1995 of Innerventions, a developer
of septal repair devices. Mr. Chazanovitz also previously served as the
President of several divisions of C.R. Bard, Inc., a medical products firm.
Mr. Chazanovitz currently serves as the Chairman of the Board of Inovise
Medical, Inc., a privately held Portland, Oregon-based company utilizing heart
sounds and electrocardiographic information as a diagnostic instrument for the
benefit of heart failure patients. Additionally, he serves as a Board member
for MedicalCV, Inc., (MCVI:OTCBB) a publicly held company based in
Minneapolis, MN, which is engaged in solutions for atrial fibrillation.
FRALEX is a medical technology company focused on developing and
commercializing Complex Neural Pulse or CNP(TM), a novel neuromodulation
therapeutic technology for chronic pain, which utilizes specifically designed,
low-frequency electromagnetic pulses. FRALEX is proceeding with its FDA and
Health Canada-approved pivotal clinical trial (the "RELIEF" trial) to evaluate
the safety and effectiveness of this technology in the treatment of chronic
pain associated with fibromyalgia. The trial is to be conducted in 2007 and
2008 at leading medical centres within the US and Canada. For more information
on FRALEX, please visit www.fralex.com; further details on the RELIEF trial
are posted on www.clinicaltrials.gov.
Certain statements contained in this release containing words like
"believe", "intend", "may", "expect", and other similar expressions, are
forward-looking statements that involve a number of risks and uncertainties.
Factors that could cause actual results to differ materially from those
projected in the Company's forward-looking statements include the following:
market acceptance of Company's technologies and products; the ability to
obtain financing; Company's financial and technical resources relative to
those of its competitors; Company's ability to keep up with rapid
technological change; government regulation of therapeutic technologies; the
Company's ability to enforce its intellectual property rights and protect its
proprietary technologies; the ability to obtain and develop partnership
opportunities; the timing of commercial product launches; the ability to
achieve key technical milestones in key products and other risk factors
identified from time to time in the Company's filings.
For further information:
For further information: Avi Grewal, President and Chief Executive
Officer, Fralex Therapeutics Inc., (416) 213-8118 ext. 210,
firstname.lastname@example.org; Christina Bessant, Investor Relations, The Equicom Group
Inc., (416) 815-0700 ext. 269, email@example.com