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 and practices." 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 Medical Colleges. 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.