Dr. Andrew N. Schiff and Steven A. Elms Resign from Bioenvision Board of Directors
July 16 2007 - 9:00AM
Business Wire
Bioenvision, Inc. (Nasdaq:BIVN) today announced that Dr. Andrew N.
Schiff and Mr. Steven A. Elms have resigned from the Company�s
Board of Directors effective as of July 13, 2007. These departures
were anticipated following the closing of the tender offer
contemplated by the agreement and plan of merger entered into on
May 29, 2007 by the Company, Genzyme Corporation (Nasdaq: GENZ) and
Wichita Bio Corporation, a wholly-owned subsidiary of Genzyme. Dr.
Christopher B. Wood, Chairman and CEO of Bioenvision, stated, �We
sincerely thank Drew and Steve for their dedication to our company
over the past 5+ years. Their support, hard work, and insights have
contributed substantially to the value we have created within
Bioenvision. The significant corporate and drug developments we
have achieved would not have been possible without their direct
contributions, for which we are grateful.� About Bioenvision
Bioenvision's primary focus is the acquisition, development and
marketing of compounds and technologies for the treatment of
cancer. Bioenvision has a broad pipeline of products for the
treatment of cancer, including: Evoltra�, Modrenal� (for which
Bioenvision has obtained regulatory approval for marketing in the
United Kingdom for the treatment of post-menopausal breast cancer
following relapse to initial hormone therapy), and other products.
Bioenvision is also developing Suvus� which is currently in
clinical development for refractory chronic hepatitis C infection.
For more information on Bioenvision please visit our website at
www.bioenvision.com. Certain statements contained in this press
release are "forward-looking" statements, including express or
implied statements regarding the future approval by Bioenvision�s
stockholders of the pending agreement and plan of merger with
Genzyme. Because these statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements.
Specifically, factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements include, but are not limited to: risks associated with
whether the merger of Wichita Bio Corporation with and into
Bioenvision will be approved by the stockholders of Bioenvision;
risks associated with the uncertainty as to whether such merger
will in fact occur, risks associated with disruptions from the
proposed merger transaction which may harm relationships with
customers, employees, suppliers and partners; risks associated with
the outcome of litigation and regulatory proceedings to which we
are currently a party and may become a party in the future; risks
associated with preclinical and clinical developments in the
biopharmaceutical industry in general and in Bioenvision's
compounds under development in particular; the potential failure of
Bioenvision's compounds under development to prove safe and
effective for treatment of disease; uncertainties inherent in the
early stage of Bioenvision's compounds under development; failure
to successfully implement or complete clinical trials; failure to
receive marketing clearance from regulatory agencies for our
compounds under development; acquisitions, divestitures, mergers,
licenses or strategic initiatives that change Bioenvision's
business, structure or projections; the development of competing
products; uncertainties related to Bioenvision's dependence on
third parties and partners; and those risks described in
Bioenvision's filings with the SEC. Bioenvision assumes no
obligation to update any forward-looking statements as a result of
new information or future events or developments, except as
required by law and the statements contained in this press release
are current as of the date of this release only.
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