Healthcare Industry News: tretinoin
News Release - June 23, 2006
Cipher appoints Vice President of Scientific Affairs
Company also announces appointment of new directorMISSISSAUGA, ON, June 23 (Healthcare Sales & Marketing Network) - Cipher Pharmaceuticals Inc. (TSX: DND ) today announced the appointment of Dr. Jason A. Gross as Vice President, Scientific Affairs. In this newly created position, Dr. Gross will be responsible for leading the regulatory, scientific and medical activities of the Company and providing overall strategic direction for its research and development programs.
Dr. Gross has been in the pharmaceutical industry for more than 14 years, most recently as a Venture Partner and Vice President of Scientific Affairs at MDS Capital Corporation. During his tenure with MDS Capital, Dr. Gross served as interim management of investee companies, coordinated and conducted scientific due diligence, and provided scientific guidance to MDS Capital's investee companies.
"Dr. Gross brings a unique combination of operational experience and strategic advisory expertise in the pharmaceutical industry, both in the United States and Canada," said Larry Andrews, President of Cipher Pharmaceuticals. "The addition of Dr. Gross strengthens our regulatory and clinical capabilities, and will help ensure our products are developed as efficiently and rapidly as possible."
Previously, Dr. Gross was Vice President of Regulatory Affairs and Quality Assurance for DrugAbuse Sciences. He has also served as the Director of State, Federal and International Regulatory Affairs at Zenith/Goldline Pharmaceuticals, a subsidiary of IVAX Corporation. Prior to his transition into the private sector, he was an officer in the Public Health Service assigned to the U.S. Food and Drug Administration (FDA), Center for Drug Evaluation and Research. He served in various regulatory capacities at the FDA, including Chief Consumer Safety Officer for the Office of Generic Drugs, Division of Bioequivalence, and Manager of the Domestic Pre-approval Inspection Process. Dr. Gross is a recognized speaker on due diligence and program facilitation for drug licensing and commercialization of pharmaceutical products.
Dr. Gross studied marketing and management prior to receiving his Doctor of Pharmacy from the University of Arizona, after which he completed a postdoctoral specialized residency in Ambulatory Care at the National Institutes of Health.
New Director
Cipher also announced that Steven W. Chepa, C.A., has been appointed to its Board of Directors. Mr. Chepa is the Founder and President of Norstone Financial Corporation, a merchant banking company. He is a Trustee of CML Healthcare Income Fund and has also acted as a director of a number of other public and private issuers, including Glendale Corporation, BIOSCRIPT Inc., and Disys Corporation. Mr. Chepa has an Honours Bachelor of Commerce degree from McMaster University and is a Chartered Accountant.
"Steven is a seasoned executive who brings valuable capital markets, operating and board-level management experience to Cipher," said Dr. John Mull, Chief Executive Officer of Cipher. "We look forward to his counsel as we execute our growth strategy."
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. Cipher currently has three late-stage drugs in its pipeline. 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. In addition, Cipher is developing formulations of the pain reliever tramadol and the acne treatment isotretinoin.
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.
Statements made in this news release, other than those concerning historical financial information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are based on management's beliefs and assumptions regarding the information currently available. The Company's actual results could differ materially from those expressed in the forward-looking statements. Factors that could cause results to vary include, among other things, those expressed in the Company's filings with Canadian securities regulatory authorities. All information presented herein should be read in conjunction with such filings.
Source: Cipher Pharmaceuticals
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