Osprey Pharmaceuticals Limited Appoints Former PDL BioPharma Executive Barbara K. Finck, M.D. as Chief Medial Officer and Senior Vice President

    MONTREAL, June 6 /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 Barbara K. Finck, M.D. as
Senior Vice President and Chief Medical Officer.  Dr. Finck will be
responsible for advancing Osprey's preclinical candidates through clinical
development, including moving the company's lead therapeutic candidate towards
a clinical trial for kidney disease later this year.
    "We are thrilled to have someone of Barbara's caliber and experience join
Osprey's management team," CEO Phil Coggins said. "Barbara's clinical
expertise in autoimmune and inflammatory diseases and her proven track record
bringing drugs to market - including the blockbuster drug Enbrel(R) - will
serve Osprey well as we move our rich pipeline of product candidates forward.
With the recent additions of Dr. Finck, and Jack Anthony as Senior Vice
President of Corporate Development, we now have all the people and resources
in place to continue our transition to a clinical-stage drug development
company and execute on our goal of initiating three clinical trials over the
next three years."
    Dr. Finck comes to Osprey from PDL BioPharma, Inc., where she served as
Vice President, Clinical Development and was responsible for the medical and
clinical operations for eight therapeutic candidates in the areas of
autoimmune diseases, oncology and cardiology. Previously, she held the
position of Vice President, Clinical Development at Eos Biotechnology, Inc.
from 2001 until PDL BioPharma purchased the company in April 2003.
    As Medical Director at Immunex Corp. for five years, Dr. Finck was
responsible for clinical development of Enbrel(R) for rheumatoid arthritis in
adults and children. Dr. Finck also served as the Clinical Program Manager and
Medical Monitor at ALZA Corp and as Assistant Professor of Medicine at the
University of California, San Francisco (UCSF). Dr. Finck earned her
bachelor's degree in Physiological Psychology from the University of
California, Santa Barbara, an M.D. from UCSF and is board certified in
internal medicine and rheumatology.
    "I am very pleased to join Osprey Pharmaceuticals and to help set and
oversee the clinical direction of compounds that are ready now to go into
patients," Dr. Finck said. "The Osprey platform of chemokine-based fusion
proteins provides a novel approach for the treatment of a wide variety of
autoimmune diseases and inflammatory conditions, and I feel fortunate to be
part of a company with so many clinical development opportunities in areas of
great unmet medical need."

    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
(LPMs) 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 is moving its lead compound towards a Phase I/II trial for kidney
disease later this year.
    Osprey has developed a portfolio of 12 preclinical LPM product candidates
addressing a variety of diseases including inflammatory and immunological
disorders, cancer, and cardiovascular disease, 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 headquartered in Montreal,
Canada; Dr. Finck and Mr. Anthony are based in the company's San Francisco,
California office. More company information can be found online at

    Phil Coggins, PhD
    President & CEO
    Tel: 514-336-3118 ext. 101

    Robert Wagstaff
    Vice President, Finance
    Tel: 514-336-3118 ext. 104

    Or John Cummings from Burns McClellan on behalf of Osprey
    Tel: 415-352-6262


For further information:

For further information: Phil Coggins, PhD, President & CEO, 
+1-514-336-3118 ext. 101, or coggins@ospreypharma.com, or Robert Wagstaff, 
Vice President, Finance, +1-514-336-3118 ext. 104, or 
wagstaff@ospreypharma.com, both of Osprey Pharmaceuticals Limited, or John 
Cummings of Burns McClellan, +1-415-352-6262, or jcummings@burnsmc.com, for 
Osprey Pharmaceuticals Limited Web Site: http://www.ospreypharma.com

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