Healthcare Industry News: ALTROPANE
News Release - March 22, 2007
Dr. Robert Langer Named as Chairman of Boston Life Sciences, Inc. Newly Formed Science and Technology Committee of the Board of DirectorsHOPKINTON, Mass., March 22 (HSMN NewsFeed) -- Boston Life Sciences, Inc. (Nasdaq: BLSI ), a biotechnology company focused on diagnostic and therapeutic products for central nervous system disorders, announced today that the Company has formed a Science and Technology Committee comprised of independent directors of the Board. The committee consists of Robert Langer, Sc.D., of MIT who will serve as chair of the committee, Henry Brem, M.D., of Johns Hopkins University School of Medicine and Gary Frashier, of Management Associates.
"I'm looking forward to working with Henry and Gary on BLSI's Science and Technology Committee," stated Dr. Langer. "Our mission is to provide management and our fellow board members with independent perspective and strategic guidance as the company continues to rationalize and build its new product pipeline and intellectual property estate."
"We are continually assessing the potential value of our existing and prospective programs in the context of existing, emerging and potential competition. I believe that Bob, Henry and Gary will provide extremely valuable insights into and independent assessments of our strategic technology direction. Our recent acquisition of Cethrin® to treat acute spinal cord injury was an important step on the path to redefining BLSI and its strategic vision. The unique experiences that Bob, Henry and Gary share will enable us to further accelerate our efforts in expanding our development pipeline and creating a dominant position in the technology platforms we are pursuing," said Peter Savas, BLSI's Chairman and CEO.
The role of the Science and Technology Committee will be to assist with drug discovery and development strategies, identify processes for evaluating and acquiring technology, and review of the Company's R&D programs. The Committee will also make recommendations to the Board on the Company's major technology positions and strategies for new therapies, trends in healthcare and changing market requirements. The Science and Technology Committee will complement the Company's current Audit, Compensation, and Governance Committees.
Dr. Robert Langer, Sc.D. is one of 13 Institute Professors at the Massachusetts Institute of Technology (MIT). He has written over 900 articles and nearly 550 issued or pending patents worldwide. His work is at the interface of biotechnology and materials science. A major focus is the study and development of polymers to deliver drugs, particularly genetically engineered proteins, DNA and RNAi, continuously at controlled rates for prolonged periods of time. Henry Brem, M.D., a nationally acclaimed neurosurgeon, has been at Johns Hopkins University School of Medicine since 1984. Today he serves as the Director of the Department of Neurosurgery, Harvey Cushing Professor of Neurosurgery, Professor of Ophthalmology, and Oncology. He is also Director of the Hunterian Neurosurgical Research Laboratory. He is responsible for developing Gliadel from concept through preclinical and clinical trials and through FDA approval. Dr. Brem holds several patents for therapeutic agents and delivery methods. Gary Frashier, through his company Management Associates, has been a strategic consultant to entrepreneurial companies in the life sciences field for the last five years. He served as Chairman and Chief Executive Officer of OSI Pharmaceuticals, Inc. His other executive positions include Genex Corporation, Continental Water Systems, Inc., Millipore Corporation and Waters Associates.
Boston Life Sciences, Inc. (BLSI) is engaged in the research and clinical development of diagnostic and therapeutic products for central nervous system (CNS) disorders. ALTROPANE® molecular imaging agent is in Phase III clinical trials for the diagnosis of Parkinson's Disease (PD) and Phase II clinical trials for the diagnosis of Attention Deficit Hyperactivity Disorder (ADHD). Cethrin®, a recombinant-protein-based drug designed to promote nerve repair after acute spinal cord injury, has reported positive interim results in a Phase I/IIa clinical trial. The company's research and pre- clinical CNS programs include Inosine for the treatment of spinal cord injury and stroke, a DAT blocker for the treatment of Parkinson's disease, and a second generation technetium-based molecular imaging agent for PD and ADHD. BLSI's current research collaborations include Harvard Medical School and Children's Hospital Boston.
The foregoing release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements include statements regarding Boston Life Sciences' future expectations, beliefs, intentions, goals, strategies, plans or prospects regarding the future, including the development and commercialization of ALTROPANE® and Cethrin, the prospects of the Company's CNS therapeutics program, the Company's strategies to develop and commercialize axon regeneration technologies and the breadth of the Company's technologies and intellectual property portfolio. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2006 filed with the Securities and Exchange Commission under the section "Risk Factors," as well as other documents that may be filed by Boston Life Sciences from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Boston Life Sciences is providing the information in this press release as of this date and assumes no obligations to update the information in this press release.
Source: Boston Life Sciences
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