MARKHAM, ON, Oct. 3, 2011 /PRNewswire/ - Cytochroma today announced the appointment of Ms. Lily Lam to its Board of Directors. Ms. Lam replaces Dr. Cynthia Lavoie of VG Partners (part of VenGrowth Private Equity Partners Inc) and VenGrowth Advanced Life Sciences Fund Inc. This appointment follows the acquisition of the Vengrowth Advanced Life Sciences Fund Inc. by the Covington Fund II Inc.
"We are delighted to welcome Covington as a new investor in Cytochroma and Lily Lam to the Board," said Dr. Alan J. Lewis, Chairman. "The Company is poised to enter late stage development with a strong product portfolio and will benefit from Lily's business and financial savvy. We are grateful for Cynthia Lavoie's advice over the years, both on and off the board, and wish her well."
Ms. Lam is Vice President, Investments at Covington Capital, having joined the firm in November 2000. Her responsibilities include assessing new business opportunities, negotiating and structuring transactions and actively advising investee companies in a variety of sectors including healthcare, media, software and service. Prior to joining Covington, Lily held various research and management positions within several early-stage healthcare companies where she provided expertise in finance, operations and strategic direction. Lily holds an MBA from York University with a specialization in Strategic Management. She also holds a Master of Science from the Department of Immunology at the University of Toronto.
Lily currently sits as a Director on the Boards of BTE Technologies Inc., Interface Biologics Inc., Trillium Therapeutics Inc., Cytochroma Inc., Zelos Therapeutics Inc. and Bedlam Games Inc. as well as holding an observer position on the Boards of Adventus Remediation Technologies, Neuraxon Inc., Natrix Separations Inc., iStopover Inc., and Affinium Pharmaceuticals Inc.
Cytochroma is a clinical stage specialty pharmaceutical company focused on developing and commercializing proprietary products to treat and prevent the clinical consequences of vitamin D insufficiency and secondary hyperparathyroidism associated with chronic kidney disease (CKD). The Company specializes in developing new therapies which are designed to safely and effectively treat patients with stage 3, 4 or 5 CKD. Cytochroma also has a portfolio CYP24 and phosphate-uptake inhibitors in early stage development.
For more information about Cytochroma, please visit www.cytochroma.com.