TORONTO, May 15 /CNW/ - ARIUS Research Inc. ("ARIUS") (TSX-V: ARI), is
pleased to announce the appointment of Ms. Catherine Auld, C.A., as Interim
Chief Financial Officer. Ms. Auld's mandate is to be responsible for ARIUS'
financial and regulatory matters as well as to assist in strategic and
investor relations activities. Ms. Auld will also head ARIUS' search for a
permanent Chief Financial Officer.
Ms. Auld, who will work part-time for ARIUS, brings a breadth of
knowledge in both the biotechnology and financial industries. Ms. Auld is
currently Chief Financial Officer of NeuroMedix Inc. (TSX-V: NMX), a public
biotechnology company working in the area of Alzheimer's disease and other
neuroinflammatory disorders and Chief Financial Officer of AtheroMedix Inc., a
private biotechnology company and has been a financial consultant to ARIUS for
several months. Prior to working at NeuroMedix Inc., Ms. Auld was Chief
Financial Officer of Transition Therapeutics Inc. and prior thereto, she held
various positions with KPMG LLP.
"ARIUS has achieved several significant milestones over the last few
months, including completion of a $26.2 million private placement and the
signing of licensing and research collaboration agreements," said Dr. David S.
Young, President and Chief Scientific Officer of ARIUS. "Ms. Auld will assist
in ensuring that ARIUS maintains its strong momentum while we search for a
permanent Chief Financial Officer."
In addition to Ms. Auld, the current members of ARIUS' senior management
team are Dr. David S. Young, President and Chief Scientific Officer, Ms. Helen
Findlay, Vice-President and Ms. Susan Hahn, Director of Research and
Development. The Board of Directors and Management Team thank Neil Nawaz for
his contributions to ARIUS and wish him well in his pursuit of new
opportunities. ARIUS plans to continue to strengthen its senior management and
scientific teams over the next year.
About ARIUS Research
ARIUS Research Inc. is a biotechnology company dedicated to personalizing
cancer therapy through the discovery and development of novel anticancer
monoclonal antibodies (MAbs). Established in 1999, ARIUS has built a
proprietary technology platform, FunctionFIRST(TM), that rapidly identifies
powerful MAbs targeting a variety of cancer indications. This antibody
generation engine has enabled ARIUS to assemble a growing pipeline, which is
used for commercial collaborations and in-house development. ARIUS has ongoing
partnerships with key biotechnology and drug development companies. The
company is listed on the TSX Venture Exchange under the symbol "ARI".
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this statement.
Forward-Looking Statement
Certain statements in this news release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, which involve known and unknown risks, uncertainties and other
factors that may cause our actual results to be materially different from any
future results, performance or achievements expressed or implied by such
statements. Forward-looking statements in this release include, but are not
limited to, ARIUS successfully advancing its new product programs as well as
licensing opportunities. These statements are only predictions and actual
events or results may differ materially. Factors that could cause such actual
events or results expressed or implied by such forward-looking statements to
differ materially from any future results expressed or implied by such
statements include, but are not limited to: early stage of development;
technology and product development; dependence on and management of current
and future corporate collaborations; future capital needs; uncertainty of
additional funding; no assurance of market acceptance; dependence on
proprietary technology and uncertainty of patent protection; intense
competition; manufacturing and market uncertainties; and government
regulation. These and other factors are described in detail in ARIUS' Annual
Report, forthcoming news releases and other filings with Canadian securities
regulatory authorities available at www.sedar.com. Forward-looking statements
are based on our current expectations and ARIUS is not obligated to update
such information to reflect later events or developments.
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