NUCRYST Pharmaceuticals appoints a new director
16 Gennaio 2009 - 2:00PM
PR Newswire (US)
PRINCETON, NJ, Jan. 16 /PRNewswire-FirstCall/ -- Thomas E. Gardner,
Chairman, announced today that G. A. (Drew) Fitch has been
appointed to the NUCRYST Pharmaceuticals' Board of Directors. Mr.
Fitch is the President and Chief Executive Officer of The Westaim
Corporation ("Westaim"), NUCRYST's controlling shareholder, holding
approximately 75% of NUCRYST's outstanding common shares. Prior to
his appointment as President and Chief Executive Officer of Westaim
in 2007, Mr. Fitch had been Senior Vice President and Chief
Financial Officer of Westaim since 1997. Before joining Westaim,
Mr. Fitch was Senior Vice President and Chief Financial Officer of
Western Star Trucks Holdings Ltd., a manufacturer of city transit
buses and highway trucks, and Senior Vice President, Finance &
CFO of Canadian Airlines Corporation, an international airline
company. "The addition of Drew Fitch to the NUCRYST Board of
Directors adds a seasoned director and will help us to coordinate
our priorities with Westaim," said Tom Gardner. "On behalf of the
Board, we extend to Drew a warm welcome", added Gardner. About
NUCRYST Pharmaceuticals NUCRYST Pharmaceuticals (NASDAQ: NCST; TSX:
NCS) develops, manufactures and commercializes medical products
that fight infection and inflammation using SILCRYST(TM), its
patented atomically disordered nanocrystalline silver technology.
NUCRYST licensed world-wide rights for SILCRYST(TM) wound care
coating products to Smith & Nephew plc, which markets these
products in over 30 countries under their Acticoat(TM) trademark.
NUCRYST is also developing pharmaceutical products to address
medical conditions that are characterized by pain, infection and
inflammation. The Company has developed its proprietary
nanocrystalline silver in a powder form, referred to as NPI 32101
for use in medical devices and as an active pharmaceutical
ingredient. Acticoat(TM) is a trademark of Smith & Nephew plc
SILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp. This
news release contains forward-looking statements within the meaning
of securities legislation in the United States and Canada
(collectively "forward-looking statements"). Forward-looking
statements in this news release include, but are not limited to,
statements about the coordination of our priorities with Westaim.
With respect to the forward-looking statements contained in this
news release, readers are cautioned that numerous risks,
uncertainties and other factors could cause our actual results to
differ materially from those indicated in these statements
including, but not limited to: Westaim's stated intention to review
its alternatives for maximizing the value of its stake in NUCRYST;
the identification and pursuit of new opportunities to grow the
value of NUCRYST; performance of stock markets generally; our
ability to satisfy regulatory and stock exchange standards and
requirements to maintain our exchange listing; our future operation
results are uncertain and likely to fluctuate; our ability to
maintain our collaboration with Smith & Nephew; our reliance on
sales of Acticoat(TM) products with our SILCRYST(TM) coatings by
Smith & Nephew; and the future financial performance and
operating performance of Smith & Nephew. Although we have
attempted to identify the important risks, uncertainties and other
factors that could cause actual results or events to differ
materially from those expressed or implied in forward-looking
statements, there may be other factors that cause actual results or
events to differ from those expressed or implied in forward looking
statements. For a more thorough discussion of the risks associated
with our business, see the "Risk Factors" section in our Annual
Report on Form 10-K for the year ended December 31, 2007 and in our
Quarterly Report on Form 10-Q for the quarter ended September 30,
2008, filed with the U.S. Securities and Exchange Commission on
EDGAR at http://www.sec.gov/ and with securities authorities in
Canada on SEDAR at http://www.sedar.com/. All forward-looking
statements are expressly qualified in their entirety by this
cautionary statement and NUCRYST disclaims any intention or
obligation to revise or update any forward-looking statements
whether as a result of new information, future developments or
otherwise after the date hereof. DATASOURCE: NUCRYST
Pharmaceuticals Corp. CONTACT: David B. Holtz, Vice President and
Chief Financial Officer, NUCRYST Pharmaceuticals, (609) 228-8202;
Fern Lazar, Lazar Partners, (212) 867-1762
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