Oxygen Biotherapeutics Inc., Announces the Appointment of Industry Veteran Gerald Proehl to its Board of Directors
April 04 2014 - 8:00AM
Business Wire
Oxygen Biotherapeutics, Inc., (NASDAQ: OXBT) a specialty
pharmaceutical company focused on developing and commercializing a
portfolio of products for the critical care market, announced today
that it has appointed Gerald Proehl, former President and CEO of
Santarus, Inc. as a member of the company’s Board of Directors. Mr.
Proehl’s addition is a new position on the company’s Board.
“I am truly excited to have someone of Gerry’s background and
experience join this Board” said John Kelley, CEO of Oxygen
Biotherapeutics. “His management, operational, and marketing
experience will be valuable assets to us as we look to move forward
with the development of leovsimendan, and to grow the company. On
behalf of all of the shareholders of Oxygen Biotherapeutics, Inc.,
and the Board of Directors, we welcome Gerry to our Board.
Gerald Proehl was recently the President and Chief Executive
Officer of Santarus, Inc., a company that he helped to found in
1999, and where he led the sale of Santarus to Salix
Pharmaceuticals for $2.6 billion in December of 2013. Prior to
Santarus, Mr. Proehl was with Hoechst Marion Roussel, Inc., a
global pharmaceutical company, where he served in various
capacities, including Vice President of Global Marketing. During
his career at Hoechst he worked across numerous therapeutic areas,
including CNS, cardiovascular, and gastrointestinal.
Mr. Proehl was recently appointed to the Board of Directors of
Auspex Pharmaceuticals, Inc., a Phase 3 clinical stage
biopharmaceutical company focused on developing and commercializing
novel medicines for the treatment of orphan diseases. He has also
joined the Board of Directors of Sophiris Bio Inc., a publicly
traded company developing a late-stage, targeted treatment for
benign prostatic hyperplasia. Mr. Proehl holds a B.S. in education
from the State University of New York at Cortland, an M.A. in
exercise physiology from Wake Forest University and an M.B.A. from
Rockhurst University.
About Oxygen Biotherapeutics
Oxygen Biotherapeutics, Inc. is developing medical products for
the critical care market. The company recently acquired the North
American rights to develop and commercialize levosimendan. The
United States Food and Drug Administration (FDA) has granted Fast
Track status for levosimendan for the reduction of morbidity and
mortality in cardiac surgery patients at risk for developing Low
Cardiac Output Syndrome (LCOS). In addition, the FDA has agreed to
a Phase 3 protocol design under Special Protocol Assessment (SPA),
and provided guidance that a single successful trial will be
sufficient to support approval of levosimendan in this indication.
The company also has developed a proprietary perfluorocarbon (PFC)
therapeutic oxygen carrier called Oxycyte® that is currently in
clinical and preclinical studies for intravenous delivery for
indications such as traumatic brain injury, decompression sickness
and stroke.
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by
the company that involve risks and uncertainties and reflect the
company’s judgment as of the date of this release. The
forward-looking statements are subject to a number of risks and
uncertainties, including, but not limited to, receipt of written
confirmation of the FDA’s decision to lift the clinical hold on
Oxycyte, our ability to successfully develop a protocol for human
clinical studies that satisfies the FDA, the finalization of
definitive agreements with DCRI, matters beyond the company's
control that could lead to delays in the clinical study, delays in
new product introductions and customer acceptance of these new
products, and other risks and uncertainties as described in the
company’s filings with the Securities and Exchange Commission,
including in its quarterly report on Form 10-Q filed on March 17,
2014, and annual report on Form 10-K filed on June 26, 2013, as
well as its other filings with the SEC. The company disclaims any
intent or obligation to update these forward-looking statements
beyond the date of this release. Statements in this press release
regarding management’s future expectations, beliefs, goals, plans
or prospects constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of
1995.
IRTH CommunicationsRobert Haag,
1-866-976-4784oxbt@irthcommunications.com
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