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AMBRILIA ANNOUNCES BOARD APPOINTMENTS
Joseph J. Krivulka and Stephen G. Sudovar join Board of Directors
Montreal, May 9, 2006 Ambrilia Biopharma Inc. (TSX:AMB), a biopharmaceutical company developing innovative therapeutics in the fields of cancer and infectious diseases, announced today the appointment of two new members to its Board of Directors. Joining the Board are Mr. Joseph J. Krivulka, President and Chief Executive Officer of Triax Pharmaceuticals LLC (U.S.) and a former executive at Mylan Laboratories (U.S.), and Mr. Stephen G. Sudovar, former President and Chief Executive Officer of Elusys Therapeutics Inc. (U.S.) and former President of Roche Laboratories (U.S.).
“We are delighted that highly respected senior executives with impressive track records such as Mr. Krivulka and Mr. Sudovar have agreed to join Ambrilia’s Board,” said Hans J. Mäder, President and Chief Executive Officer of Ambrilia Biopharma Inc. “I believe their broad experience in strategic planning, mergers and acquisitions, business development and financing respectively in the global pharmaceutical and the health care products and services industry, will greatly benefit the Company in executing its growth strategy,” he continued. “I also wish to take this opportunity to reiterate my appreciation to recently departed Board members Dr. Phil Gold, Dr. Chandra J. Panchal, Mr. Hans C. Fluehler and Mr. Roger Samson,” he concluded.
The members of the 2006 Ambrilia Board of Directors are: Dr. Max Link, Chairman, Professional Director and former pharmaceutical executive; Mr. Hans J. Mäder, President and Chief Executive Officer, Ambrilia; Dr. Bonabes de Rougé, Senior Executive Vice-President and Chief Scientific Officer, Ambrilia; Mr. Bernard Coupal, Ph.D., President, Gestion T2C2/Bio Inc.; Dr. François Lombard, Chief Executive Officer, Turenne Capital Partenaire LLC (France); Dr. Philip S. Tabbiner, Chief Operating Officer, Theragenex LLC (U.S.); Mr. Joseph J. Krivulka, President and Chief Executive Officer, Triax Pharmaceuticals LLC (U.S.); and Mr. Stephen G. Sudovar, former President and Chief Executive Officer of Elusys Therapeutics Inc. (U.S.).
MR. JOSEPH J. KRIVULKA
Mr. Krivulka has extensive experience in monetizing market conditions, developing strategic alliances and penetrating new markets as well as building teams and orchestrating complex multidiscipline plans. He is currently the President and CEO of Triax Pharmaceuticals where he manages all aspects of operations, strategic planning, business development and financial management. Prior to joining Triax, Mr. Krivulka was the President and co-founder of Reliant Pharmaceuticals Inc. which he created in 1999 and grew to over US$1.0 billion in value. During his tenure at Reliant, he closed over US$650 million in venture capital financing, including the largest private equity round in 2003 totaling approximately US$370 million. He oversaw numerous acquisitions and access to leading brand products from companies such as Novartis, Abbott and Lilly & Co. and built a specialty pharmaceutical sales force in the U.S. of over 1,000 reps. In business development, he negotiated strategic co-promotion partnerships with Biovail Corp. and Amylin Pharmaceuticals. In 1991, he was Corporate Vice-President at Mylan Laboratories where his mandate was to establish a new strategic direction to have the company enter the branded pharmaceutical marketplace. His role was to identify target companies, products and new chemical/pharmaceutical entitles to create Bertek Pharmaceutical of which he was President and Chief Executive Officer and added US$2 billion in market capitalization for Mylan Labs. His experience also includes strategic business management executive positions with the Janssen Pharmaceutical division of Johnson & Johnson and Sandoz Pharmaceuticals. Mr. Krivulka is a member of the Board of Aleous Pharmaceuticals Inc. and of Nektar Therapeutics. He holds a B.Sc. from West Virginia Wesleyan College and continued his education at Temple University in Physiology.
MR. STEPHEN G. SUDOVAR
Former President and Chief Executive Officer of Elusys Therapeutics, a U.S. Biotechnology Company, Mr. Sudovar has thirty years of accomplishments in driving business growth in the health care products and services industry. He held senior management and related cross functional positions at Hoffmann La Roche, including President of its Roche Laboratories division from 1988 to 1999. During his tenure at Roche Labs, he more than tripled U.S. revenues, consistently increased divisional profit contribution, increased the company’s U.S. market share, prepared the organization for the launch of many large products as well as integrated the Syntex and Boehringer Mannheim U.S. operations into Roche. Member of the Pharmaceutical Leadership Board and Chairman of the Roche Business Operating Committee, he was also responsible for the U.S. related therapeutic area planning for drug discovery and portfolio management for drug development. During his tenure with Roche, he gained significant global experience as an expatriate in Europe. Also, Mr. Sudovar headed two successful start-up companies, Pracon Incorporated and Elusys Therapeutics. In 1997, he founded Pracon, a healthcare consulting and communications firm, where he directed the company’s activities in support of a highly diverse health care client base, which included all of the major agencies of the federal health establishment, in addition to many of the largest private sector health care companies. As Chairman of the Board and CEO, Mr. Sudovar managed the Pracon business for 10 consecutive years of profitable growth, ultimately leading to the sale of the operations to Reed Elsivere, a large global communications company. Mr. Sudovar is a member of the Board of Nabi Pharmaceuticals and Aastrom Biosciences. He was also Chairman of the National Pharmaceutical Council (NPC) and of the Marketing Section of the Pharmaceutical Research and Manufacturing Association (PhRMA). He holds a B.S. in Marketing from St Peter’s College and an MBA from Fairleigh Dickinson University. He is an Adjunct Professor of Management at Montclair State University.
ABOUT AMBRILIA BIOPHARMA
Ambrilia Biopharma Inc. (TSX:AMB) is a biopharmaceutical company developing innovative therapeutics in the fields of oncology and infectious diseases. Ambrilia’s product portfolio includes proprietary mid to early-stage products; an anti-cancer therapeutic peptide (PCK3145), promising anti-HIV treatments (PPL-100, SPC3), a tumor vasculature targeting technology (TVT-Dox) and two specialty generics (Octreotide, Goserelin), the first of which is late-stage and value-added. Ambrilia’s product candidates address unmet medical needs in oncology and infectious diseases where safe and effective therapies are needed, and which represent large market opportunities. Ambrilia’s head office, Research and Development and Manufacturing facilities are located in Montreal with a regional office in France. For more information, please visit the Company’s web site: www.ambrilia.com
Forward-looking statements
This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including, but not limited to, changing market conditions, successful and timely completion of clinical studies, uncertainties related to the regulatory approval process, establishment of corporate alliances and other risks detailed from time to time in the Company’s filings. Such statements are also based on various assumptions, including the successful and timely completion of clinical studies on Ambrilia’s products demonstrating efficacy and safety for human use, their successful commercialization within the forecasted timelines and the attainment of the forecasted milestone payments and other revenues. While Ambrilia anticipates that subsequent events and developments may cause Ambrilia’s views to change, Ambrilia specifically disclaims any obligation to update these forward looking statements.
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INFORMATION:
Ambrilia Biopharma Inc.
Julie M. Thibodeau
Director, Communications
jthibodeau@ambrilia.com
ir@ambrilia.com
Tel.: (514) 751-2003 ext 235
www.ambrilia.com
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