TARRYTOWN, N.Y., Dec. 11 /PRNewswire-FirstCall/ -- Emisphere Technologies,
Inc. (Nasdaq: EMIS) today announced that two new independent members, Stephen
K. Carter, M.D., and Michael E. Black, have been appointed to its Board of
Directors, and that Joseph R. Robinson, Ph.D., and Jere E. Goyan, Ph.D., have
resigned their board positions and have become consultants to Emisphere.
Michael M. Goldberg, M.D., Chairman and Chief Executive Officer of
Emisphere, stated, "We are very pleased to appoint two new independent members
to the Board, each of whom brings skills and experience that will be of great
value to our company. Dr. Stephen Carter's breadth of experience in
pharmaceutical research and development and pharmaceutical product licensing,
position him to provide important contributions relative to our business
strategy of maximizing the value of our current and future product candidates
for potential partnering. Michael Black, with over 30 years of expertise in
strategic planning and organizational and leadership development, and over 15
years of administrative experience in academic medicine, will bring an
important perspective on, among other matters, Company organization, processes
Dr. Stephen Carter is the former Senior Vice President, Clinical and
Regulatory Affairs, of Sugen, Inc. (ownership of Sugen has since passed to
Pfizer, Inc. as part of its acquisition of Pharmacia in April 2003). Dr.
Carter previously was the Senior Vice President, Research and Development of
Boehringer Ingelheim Pharmaceuticals, Inc., now independently owned.
Previously, he served 13 years at Bristol-Myers Squibb Co., including, as its
Senior Vice President, Worldwide Clinical Research and Development. Prior to
Bristol-Myers' acquisition of Squibb, he served as President and Senior Vice
President of the Pharmaceutical Research and Development division.
Dr. Carter is a former Deputy Director at the National Cancer Institute
(NCI)'s Division of Cancer Treatment. He received his Medical Doctorate from
New York Medical College and served his residency at Lenox Hill Hospital in
New York, New York, where he became Chief Medical Resident. He is a member of
the American Society of Clinical Oncology and other prominent cancer
organizations and has been affiliated for over 30 years with academic
journals, as a co-editor or seated on their editorial review boards. He is
currently a member of the boards of directors of Alfacell Corporation,
Achillion Pharmaceuticals, Inc., Cytogen Corporation, Sopherion Therapeutics,
Inc., and Vion Pharmaceuticals, Inc.
Mr. Michael Black is the Vice Dean for Administration and Finance at the
University of Pennsylvania School of Medicine. Prior to assuming this
position, Mr. Black was Vice Dean at Creighton University, where he also
served in other executive roles. Mr. Black was also, in succession, the Chief
Financial, Operating and Executive Officer for the United States Air Force
Health Care Administration Division. Mr. Black received his M.B.A. from
Golden Gate University in San Francisco. He is also a member of the Medical
Group Management Association, and a member of the Association of American
Dr. Goldberg stated, "We look forward to benefiting from the combined
wealth of experience that Dr. Carter and Mr. Black will bring to our Board.
We also gratefully acknowledge the contributions provided by Drs. Robinson and
Goyan in their respective five and 11 years of service on our Board of
Directors. We are pleased that both have agreed to remain involved with
Emisphere in consulting roles, so that we can continue to benefit from their
knowledge and experience."
Emisphere's Board will now consist of seven members, of whom six are
independent. To view a current list of Emisphere's Board of Directors, please
visit the overview portion of the Emisphere website: www.emisphere.com .
About Emisphere Technologies, Inc.
Emisphere Technologies, Inc. (Nasdaq: EMIS) is a biopharmaceutical company
pioneering the oral delivery of otherwise injectable or inhaled drugs. It is
in the business of licensing its proprietary eligen(TM) oral drug delivery
technology to partners who apply it directly to their marketed drugs.
Emisphere conducts proof-of-concept clinical trials and other early-stage
trials to advance the technology and increase value for potential partnering
opportunities. Emisphere's eligen(TM) technology has facilitated the oral
delivery of proteins, peptides, macromolecules and charged organics.
Emisphere and its partners have advanced oral formulations of salmon
calcitonin, heparin, insulin, parathyroid hormone, human growth hormone and
cromolyn sodium into clinical trials. Four oral drug formulations
containing EMISPHERE(R) delivery agents have been accepted for clinical
testing in the U.S. Emisphere develops pharmaceutical products for its own
portfolio and has strategic alliances with some of the world's leading
pharmaceutical and biotechnology companies. For further information, please
visit www.emisphere.com .
Safe Harbor Statement Regarding Forward-looking Statements
The statements in this release and oral statements made by representatives
of Emisphere relating to matters that are not historical facts (including
without limitation those regarding the timing or potential outcomes of
research collaborations or clinical trials, any market that might develop for
any of Emisphere's product candidates and the sufficiency of Emisphere's cash
and other capital resources) are forward-looking statements that involve risks
and uncertainties, including, but not limited to, the likelihood that future
research will prove successful, the likelihood that any product in the
research pipeline will receive regulatory approval in the United States or
abroad, the ability of Emisphere and/or its partners to develop, manufacture
and commercialize products using Emisphere's drug delivery technology,
Emisphere's ability to fund such efforts with or without partners, and other
risks and uncertainties detailed in Emisphere's filings with the Securities
and Exchange Commission, including those factors discussed under the caption
"Risk Factors" in Emisphere's Annual Report on Form 10-K (file no. 1-10615)
filed on March 31, 2003. Emisphere disclaims any responsibility to update any
of such forward-looking statements.
SOURCE Emisphere Technologies, Inc.