LAVAL, QC, Nov. 15 /PRNewswire-FirstCall/ - Labopharm Inc. (TSX: DDS)
today announced that Mr. R. Ian Lennox has been appointed to the Company's
Board of Directors and will become a member of the Human Resources and
Corporate Governance Committee.
"With significant experience leading both drug discovery and
pharmaceutical businesses, Mr. Lennox is a strong addition to our Board," said
James R. Howard-Tripp, President and Chief Executive Officer, Labopharm Inc.
"We look forward to his guidance and counsel as we prepare for commercial
launch of our first product."
Mr. Lennox is a Director of KBSH Capital Management Inc., Chairman of the
Board of Stressgen Biotechnologies Corporation (TSX:SSB) and a Director of
Cedara Software Corp. (TSX:CDE, NASDAQ: CDSW). From 2000 to 2004, Mr. Lennox
held leadership positions at MDS Inc. (TSX:MDS, NYSE: MDZ), first as President
and Chief Executive Officer, Drug Discovery and Development and later as
President and Chief Executive Officer, Pharmaceutical & Biotechnology Markets.
Prior to joining MDS, he was President and Chief Executive Officer of Phoenix
International Life Sciences (TSE:PHX, NASDAQ: PHXI) and Chairman and Chief
Executive Officer of Drug Royalty Corporation (TSE:DRI). From 1978 to 1997,
Mr. Lennox held progressively senior managerial positions at Monsanto Company
(NYSE: MTC), including six years as President and Chief Executive Officer,
Monsanto Canada, based in Toronto.
Mr. Lennox has also served as Director of a number of life sciences
companies in North America.
Labopharm also announced that Messrs. James MacDonald and Percy Skuy have
retired from the Company's Board of Directors.
"On behalf of the senior management team and the rest of the Board, I
would like to thank Messrs. MacDonald and Skuy for their considerable
contributions during a critical period in Labopharm's development," said
Mr. Howard-Tripp. "Their expertise and guidance has been invaluable as
Labopharm has evolved from an emerging drug development company to an
international pharmaceutical organization on the verge of commercializing its
Mr. James S. Scibetta will replace Mr. MacDonald as a member of the Audit
Committee and Mr. Robert Raich will replace Mr. Skuy as a member of the Human
Resources and Corporate Governance Committee.
About Labopharm Inc.
Labopharm Inc. (TSX:DDS) is an international specialty pharmaceutical
company focused on the development of drugs incorporating the Company's
proprietary advanced controlled-release technology, Contramid(R). Contramid(R)
can be applied to a wide variety of drugs in solid oral dosage form, improving
their oral administration and performance, and is used to develop products
that are either bio-equivalent to existing, branded products, or are new
branded products. The Company's pipeline includes a combination of both
in-house and partnered programs with products both in clinical trials and in
preclinical development. Labopharm is also developing novel polymeric
nano-delivery systems for delivery of water-insoluble and poorly bio-available
drugs. For more information, please visit www.labopharm.com.
This press release contains forward-looking statements, which reflect the
Corporation's current expectations regarding future events. The
forward-looking statements involve risks and uncertainties. Actual events
could differ materially from those projected herein and depend on a number of
factors, including the successful and timely completion of clinical studies,
the uncertainties related to the regulatory process and the commercialization
of the drug thereafter. Investors should consult the Corporation's ongoing
quarterly filings and annual reports for additional information on risks and
uncertainties relating to these forward-looking statements. The reader is
cautioned not to rely on these forward-looking statements. The Corporation
disclaims any obligation to update these forward-looking statements.
SOURCE Labopharm Inc.