Sophiris Bio Announces an Addition to its Board of Directors
SAN DIEGO, CA and VANCOUVER, July 15, 2013 /PRNewswire/ - Sophiris Bio Inc. (Sophiris, TSX: SHS) (the "Company" or "Sophiris"), a biopharmaceutical company developing a clinical-stage, targeted treatment for the symptoms of benign prostatic hyperplasia (BPH or enlarged prostate), today announced the appointment of Joseph Turner to its Board of Directors effective and contingent upon the closing of the Company's proposed initial U.S. public offering of its common shares and listing on The NASDAQ Stock Market LLC.
Mr. Turner has more than 25 years of financial management experience in the biotech and pharmaceutical industries. Mr. Turner currently serves on the Boards of Directors and is the chair of the audit committees of three publicly-traded pharmaceutical companies: Kythera Biopharmaceuticals (NASDAQ: KYTH), Alexza Pharmaceuticals, Inc. (NASDAQ: ALXA) and Corcept Therapeutics, Inc. (NASDAQ: CORT). From 1999 to 2006, Mr. Turner spent seven years as Chief Financial Officer at Myogen, Inc., until the sale of the company to Gilead Sciences. Prior to Myogen, from 1997 to 1999, Mr. Turner served as Vice President of Finance at Centaur Pharmaceuticals, a pharmaceutical company, and from 1992 to 1997, Mr. Turner served as Vice President of Finance at Cortech, Inc., a biopharmaceutical company. Mr. Turner received an M.B.A. from the University of North Carolina at Chapel Hill, an M.A. in Molecular Biology from the University of Colorado, and a B.A. in chemistry from Swarthmore College.
"Joe brings extensive experience to our Board of Directors in strategic planning, finance, investment banking and investor relations in the biotech industry," said Randall Woods, President and Chief Executive Officer of Sophiris. "We look forward to Joe joining our board and contributing to the long-term finance strategy for the Company."
Sophiris Bio Inc. is a biopharmaceutical company developing a clinical-stage, targeted treatment for the symptoms of benign prostatic hyperplasia (BPH or enlarged prostate), which it believes is an unsatisfied market with significant market potential. Sophiris' lead candidate for BPH, PRX302, is designed to be as efficacious as pharmaceuticals, less invasive than the surgical interventions, and without the sexual side effects seen with existing treatments. Sophiris is planning to begin a Phase 3 clinical trial of PRX302 in the second half of 2013 subject to raising additional capital. For more information, please visit www.sophirisbio.com.
Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Sophiris' current beliefs as well as assumptions made by and information currently available to Sophiris and relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by Sophiris in its public securities filings; actual events may differ materially from current expectations. Sophiris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
SOURCE Sophiris Bio, Inc.