Healthcare Industry News: integrase inhibitor
News Release - June 13, 2007
Ambrilia Appoints a New ChairmanMONTREAL, QUEBEC--(Healthcare Sales & Marketing Network)--Jun 13, 2007 -- The Board of Directors of Ambrilia Biopharma Inc. (Toronto:AMB.TO ) announced today that Mr. Frederic Porte, a director of the Company since January 2007, was appointed as Chairman, effective immediately. Mr. Stephen G. Sudovar has stepped down as a member of the Board and as its Executive Chairman, as well as interim Chief Executive Officer of the Company, for personal reasons. The search for a new President and Chief Executive Officer is still ongoing. Ambrilia's day-to-day operations continue to be managed, as usual, by the current Executive Committee.
"We thank Stephen for his valuable counsel and his contribution over the last year to Ambrilia's development. We wish him the best of luck in his future endeavors", said Frederic Porte, Chairman of Ambrilia.
The Annual General and Special Meeting of Ambrilia will be held Thursday, June 14th, 10:30 AM at the Maxwell-Cummings Auditorium of The Montreal Museum of Fine Arts, 1379 Sherbrooke Street W. Mr. Frederic Porte will chair the meeting which will be followed by a review of Ambrilia's R&D projects and recent developments, and future outlook. Mr. Porte will be joined by the Company's Executive Committee. The meeting will start at 10:30 AM and will be followed by a session with the media at approximately 11:45 AM.
Ambrilia's forward-looking statements
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including, but not limited to, changing market conditions, successful and timely completion of clinical studies, uncertainties related to the regulatory approval process, establishment of corporate alliances and other risks detailed from time to time in the Company's filings. We refer you to the Risk Factors section of the Company's Management's Discussion & Analysis of Financial Condition and Results of Operations which contain a more exhaustive analysis of the risks and uncertainties that are generally connected to the business of the Company. Such statements are also based on various assumptions, including the successful and timely completion of clinical studies on Ambrilia's products demonstrating efficacy and safety for human use, their successful commercialization within the forecasted timelines and the attainment of the forecasted milestone payments and other revenues. While Ambrilia anticipates that subsequent events and developments may cause Ambrilia's views to change, Ambrilia specifically disclaims any obligation to update these forward looking statements.
ABOUT MR. FREDERIC PORTE
Mr. Porte is a seasoned entrepreneur and businessman with more than 25 years of experience in the life sciences industry. During his career, Mr. Porte has founded 3 successful companies. He is currently the President and Founder of Medipress Management Inc., a firm offering financial and strategic services to healthcare and venture capital organizations for the evaluation of M&A and strategic alliances. Prior to that, he founded in 1987 Clinidata, a software and communication company which was acquired in 1994 by the pharmaceutical company Hoechst Marion Roussel. In 1980, he created and managed L'Actualite Medicale, a leading Canadian medical publishing company which was later acquired by MacLean Hunter. Mr. Porte has a degree in Business Administration and Finance from l'Ecole Superieure de Commerce de Lyon (France) and a D.E.A. in Information Sciences from the University of Sorbonne (France). Mr. Porte is a member of the Board of Directors of Labopharm Inc. He is also a director of Angelus Investment Corporation.
ABOUT AMBRILIA BIOPHARMA
Ambrilia Biopharma Inc. (Toronto:AMB.TO ) is a biopharmaceutical company developing novel small molecules and peptides to treat infectious diseases and cancer. Ambrilia's product portfolio includes promising anti-HIV treatments (PPL-100 and an HIV integrase inhibitor Program), two new formulations of existing drugs developed with a patented technology (Octreotide and Goserelin), an anti-cancer therapeutic peptide (PCK3145), a tumor and tumor-vasculature targeting (TVT) technology platform, as well as other anti-virals and immunomodulators. Exclusive worldwide rights to PPL-100 and its related compounds have been granted to Merck & Co., Inc. in return for a $US 17 million upfront payment, potential milestones that could reach $US 212 million, and royalties. Ambrilia's head office, research and development and manufacturing facilities are located in Montreal with a regional office in France. For more information, please visit the Company's web site: www.ambrilia.com
Source: Ambrilia Biopharma
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