Healthcare Industry News: Inex Pharmaceuticals
News Release - June 14, 2006
Chromos appoints new Vice President, Finance and Chief Financial OfficerBURNABY, BC, June 14 (HSMN NewsFeed) - Chromos Molecular Systems Inc. ("Chromos"; TSX: CHR) announced today the appointment of Mr. Jeff Charpentier, CA as the Company's Vice President, Finance and Chief Financial Officer.
Prior to his current position with Sierra Wireless, Inc., Mr. Charpentier held the role of Vice President, Finance and Chief Financial Officer with Inex Pharmaceuticals Corporation from 1999-2004. During his tenure with Inex, Mr. Charpentier was instrumental in leading successful equity financings that raised in excess of $120 million to fund the development of a number of drug candidates. He also played an integral role in securing several development and commercialization agreements for product candidates with multi-national pharmaceutical companies. A Chartered Accountant, Mr. Charpentier holds a Bachelor of Commerce from the University of British Columbia. His professional experience also includes roles with KPMG Chartered Accountants and Teck Corporation.
Mr. Charpentier will be assuming his duties in early July. The Company's former Vice President of Finance, Ms. Kathryn Hayashi, has left the Company to pursue other interests. The Company wishes to thank Ms. Hayashi for her contribution s to the development of the Company for these past few years.
Chromos is a biopharmaceutical company with two drug development programs focused on inflammatory diseases and thrombotic disorders. The Company's lead program, CHR-1103, is a humanized monoclonal antibody being developed as a treatment for acute relapses associated with relapsing forms of multiple sclerosis (MS). Chromos generates revenue from its proprietary platforms - the ACE System and REM technology - to support its drug development programs. For more information visit our website at www.chromos.com.
Risks and Uncertainties
Certain of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Chromos (the "Company"), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
To the extent possible, management implements strategies to reduce or mitigate the risks and uncertainties associated with the Company's operations. Operating risks include (i) the continued availability of capital to finance the Company's activities; (ii) the Company's limited cash position, (iii) the ability to successfully obtain proof of the effectiveness of the Company's technology (iv) the ability to complete and maintain corporate alliances relating to the development and commercialization of the Company's technology; (v) the ability to obtain and enforce patent and other intellectual property protection for the Company's technology; (vi) market acceptance of the Company's technology; (vii) the competitive environment and impact of technological change; (viii) the Company's ability to attract and retain employees to carry out its business plans and (ix) the timely development and commercialization of any technology or products that are contingent on the completion and maintenance of corporate alliances with third parties. Further details on Chromos' operating risks can be found in the Company's Quarterly and Annual Reports to Shareholders.
Source: Chromos Molecular Systems
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