Biodel Announces Appointment of Dr. Brian J.G. Pereira as Board Chairman; Dr. Charles A. Sanders to Remain on Board

Mar 30, 2011, 06:59 ET from Biodel Inc.

DANBURY, Conn., March 30, 2011 /PRNewswire/ -- Biodel Inc. (Nasdaq: BIOD) announced today the appointment of Dr. Brian J.G. Pereira as board chairman effective immediately.  Dr. Pereira has served on the board since November 2007.  Dr. Charles A. Sanders, who served as chairman since March 2010 after joining the board in August 2006, will continue to serve as a board member pending his return from medical leave.  

Dr. Sanders stated: "The board and I welcome Dr. Pereira as chairman.  We are confident his leadership, experience and continued commitment will ensure the future success of our company."

Dr. Pereira stated: "I thank the board for their confidence in me as Biodel makes important steps forward in its development program.  I join the board in thanking Dr. Sanders for his guidance and leadership."

About Biodel Inc.

Biodel Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes that may be safer, more effective and more convenient for patients.  We develop our product candidates by applying our proprietary formulation technologies to existing drugs in order to improve their therapeutic profiles.  For further information regarding Biodel, please visit the company's website at www.biodel.com.

Safe-Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements include statements about future activities related to the clinical development plans for the company's drug candidates, including the potential timing, design and outcomes of clinical trials; and the company's ability to develop and commercialize product candidates.  Forward-looking statements represent our management's judgment regarding future events.  All statements, other than statements of historical facts, including statements regarding our strategy, future operations, future clinical trial results, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements.  The words "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.  The company's forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results, performance or achievements to differ materially from those described or implied in the forward-looking statements, including, but not limited to, our ability to respond to the complete response letter regarding our new drug application for Linjeta™ in a timely manner and the possibility that information we provide in response to the letter may not be accepted by the FDA; our ability to secure FDA approval for Linjeta™ and our other product candidates under Section 505(b)(2) of the Federal Food, Drug, and Cosmetic Act; our ability to market, commercialize and achieve market acceptance for product candidates developed using our VIAdel™ technology; the progress or success of our research, development and clinical programs and the initiation and completion of our clinical trials; the possibility that patients taking Linjeta™ may experience more injection site discomfort than they experience with competing products; unexpected data that may result from our clinical trials and our research and development activities; our ability to protect our intellectual property and operate our business without infringing upon the intellectual property rights of others; our estimates of future performance; our ability to enter into collaboration arrangements for the commercialization of our product candidates and the success or failure of those collaborations after consummation, if consummated; the rate and degree of market acceptance and clinical utility of our products; our commercialization, marketing and manufacturing capabilities and strategy; our estimates regarding anticipated operating losses, future revenues, capital requirements and our needs for additional financing; and other factors identified in our most recent annual report on Form 10-Q for the quarter ended December 31, 2010.  The company disclaims any obligation to update any forward-looking statements as a result of events occurring after the date of this press release.

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CONTACT: Seth Lewis, +1-646-378-2952

SOURCE Biodel Inc.



RELATED LINKS

http://www.biodel.com