Healthcare Industry News: GSK
News Release - November 15, 2006
ARIUS appoints Warren Whitehead as Chief Financial OfficerDr. David S. Young appointed to President and Chief Executive Officer
TORONTO, Nov. 15 (Healthcare Sales & Marketing Network) - ARIUS Research Inc. ("ARIUS") (TSX: ARI ), today announced the appointment of Warren Whitehead as Chief Financial Officer.
"We are very pleased to welcome Mr. Whitehead to ARIUS. He brings both a wealth of capital markets experience and an extensive knowledge of the biotechnology sector," said Dr. David S. Young, President and Chief Executive Officer of ARIUS. "Warren will be a great addition to the leadership team as we build on our strong momentum and move ARIUS to the next phase of growth."
Mr. Whitehead has held a number of senior financial management roles in the industry, most recently as Chief Financial Officer of Labopharm Inc., where he lead several rounds of financing including a cross-border NASDAQ offering. He held prior positions with Resolution Pharmaceuticals Inc. and Glaxo Canada (now GSK). Mr. Whitehead is a Certified Management Accountant and holds an MBA from the University of Windsor.
Catherine Auld who has been ARIUS' Interim Chief Financial Officer on a part-time basis since May 2006 will continue to consult for the Company during a transition phase.
"We would like to thank Ms. Auld for her considerable and invaluable contributions to ARIUS during these past months, including leading our graduation to the Toronto Stock Exchange," said Dr. Young.
In addition to Warren's appointment, the Board is very pleased to announce the appointment of Dr. David S. Young, the founder of ARIUS, and the Company's President and Chief Scientific Officer since inception, to President and Chief Executive Officer.
"David has been instrumental in making ARIUS the company it is today and we believe he is the right leader to take ARIUS through its next stage of growth," said Dr. Carl Gordon, a member of the ARIUS Board of Directors.
ARIUS Research Inc. is a biotechnology company dedicated to personalizing cancer therapy through the discovery and development of novel anticancer monoclonal antibodies (MAbs). Established in 1999, ARIUS has built a proprietary technology platform, FunctionFIRST(TM), that rapidly identifies powerful MAbs targeting a variety of cancer indications. This antibody generation engine has enabled ARIUS to assemble a growing pipeline, which is used for commercial collaborations and in-house development. ARIUS has ongoing partnerships with key biotechnology and drug development companies. The Company is listed on the TSX under the symbol "ARI".
Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements in this release include, but are not limited to, ARIUS successfully advancing its new product programs as well as licensing opportunities. These statements are only predictions and actual events or results may differ materially. Factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements include, but are not limited to: early stage of development; technology and product development; dependence on and management of current and future corporate collaborations; future capital needs; uncertainty of additional funding; no assurance of market acceptance; dependence on proprietary technology and uncertainty of patent protection; intense competition; manufacturing and market uncertainties; and government regulation. These and other factors are described in detail in ARIUS' Annual Report, forthcoming news releases and other filings with Canadian securities regulatory authorities available at www.sedar.com. Forward-looking statements are based on our current expectations and ARIUS is not obligated to update such information to reflect later events or developments.
Source: ARIUS Research
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