Healthcare Industry News: Osiris Therapeutics
News Release - November 23, 2007
Osiris Therapeutics Announces Management Change
COLUMBIA, Md.--(HSMN NewsFeed)--Osiris Therapeutics (Nasdaq: OSIR ) announced today that Cary J. Claiborne, Chief Financial Officer, has left the Company effective today, to pursue new professional opportunities. Mr. Claiborne will be available to provide transition assistance to Osiris through March 31, 2008.Phil Jacoby, Corporate Controller and Assistant Secretary, will serve as interim CFO and Corporate Secretary until Mr. Claiborne’s successor is named. Mr. Jacoby joined the Company in April 2005 in preparation for our initial public offering. He is responsible for all financial and SEC reporting matters and is deeply involved in contract negotiations and budgets. Mr. Jacoby has over twenty years of experience in public company finance. Previously, he was Vice President and Corporate Controller at FTI Consulting, Inc., a global business financial and economic consulting firm. He began his career with Arthur Andersen & Co. and earned his undergraduate degree in business and public administration from the University of Maryland.
About Osiris Therapeutics
Osiris Therapeutics, Inc. is a leading stem cell therapeutic company focused on developing and marketing products to treat medical conditions in the inflammatory, orthopedic and cardiovascular areas. Osiris currently markets and sells Osteocel® for regenerating bone in orthopedic indications. Prochymal™ is in Phase III clinical trials for both Graft versus Host Disease and Crohn's disease and is the only stem cell therapeutic currently designated by FDA as both an Orphan Drug and Fast Track product. Osiris has also partnered with Genzyme Corporation to develop Prochymal™ as a medical countermeasure to nuclear terrorism and other radiological emergencies. The Company’s pipeline of internally developed biologic drug candidates under evaluation also includes Chondrogen™ for arthritis in the knee, and Provacel™, for repairing heart tissue following a heart attack. Osiris is a fully integrated company, having developed capabilities in research, development, manufacturing, marketing and distribution of stem cell products. Osiris has developed an extensive intellectual property portfolio to protect the company's technology in the United States and a number of foreign countries including 47 U.S. and 215 foreign patents owned or licensed. More information can be found on the company's website, www.Osiris.com. (OSIR-G)
Forward-Looking Statements
This press release may contain forward-looking statements. These forward-looking statements may generally be identified by the use of the words "may," "will," "expects," "anticipates," "believes," "estimates," and similar expressions, and involve a number of risks and uncertainties. For a variety of reasons, actual results may differ materially from those described in or contemplated by any such forward-looking statement. Consequently, the reader is cautioned to consider all forward-looking statements in light of the risks to which they are subject.
Source: Osiris Therapeutics
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