Canadian Company Press Release
SYB 1999-07-06 (provided courtesy of Canadian Corporate News.)
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SYNSORB Biotech Inc. Board of Directors Announces Executive Changes
CALGARY, ALBERTA--The Board of Directors of SYNSORB Biotech Inc.
("SYNSORB") (TSE:SYB, NASDAQ: SYBB) announced today the
resignation of Dr. Brad Thompson as an officer of the company.
Dr. Thompson will continue to be Chairman of the Board, and has
agreed to assume the position of President and CEO of Oncolytics
Biotech Inc. ("Oncolytics"), a wholly owned subsidiary of SYNSORB
established to commercialize the use of the reovirus as an
anticancer therapeutic.
"This completes the transition of executive responsibility in
SYNSORB to Dr. David Cox who was appointed CEO of SYNSORB in
February of this year." said Dr. Thompson. "I will, of course, be
actively supporting David and SYNSORB in my role as a Director of
the company, as well as concentrating on developing Oncolytics and
this important technology."
"Brad and I have worked together now for many years," said Dr.
David Cox, President and CEO of SYNSORB, "I am delighted that we
will continue to work together on the completion of our two lead
products and that Brad will play an important role in the
development of our pipeline, specifically Oncolytics."
SYNSORB is dedicated to accelerated drug development from the
acquisition of promising compounds emerging from basic research
through clinical development, and ultimately to providing channels
to market for new discoveries. Headquartered in Calgary, SYNSORB
currently has two products in late stage clinical development,
SYNSORB Pk(R) for the prevention of HUS and the treatment of
verotoxigenic E. coli (VTEC) infections (including O157:H7), and
SYNSORB Cd(R) designed to treat recurrent antibiotic-associated
diarrhea (CDAD). SYNSORB has additional compounds in pre-clinical
development, including REOSYN, a potential cancer treatment being
developed within its subsidiary company, Oncolytics, and novel
antibiotics, with inflammation and anti-virals targeted in the
Company's research and development program.
Shares of SYNSORB Biotech Inc. trade on the Toronto Stock Exchange
in Canada (symbol "SYB") and on NASDAQ in the United States
(ticker "SYBB").
This release contains certain forward-looking statements which
involve known and unknown risks, delays, uncertainties and other
factors not under the Company's control which may cause actual
results, performance or achievements of the Company to be
materially different from the results, performance or other
expectations implied by these forward-looking statements. These
factors include results of current or pending clinical trials,
actions by the FDA/HPB and those factors detailed in the Company's
registration statement on Form 20 F filed with the Securities and
Exchange Commission.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
SYNSORB Biotech Inc.
David Cox, Ph.D.
President & CEO
(403) 283-5900
(403) 283-5907 (FAX)
or
The Equicom Group
Jason Hogan
Investor Relations
(416) 815-0700 ex 222
(416) 815-0080 (FAX)
or
Oncolytics Biotech Inc.
Brad Thompson, Ph.D
President & CEO
(403) 283-5900
(403) 283-5907 (FAX)
or
SYNSORB Biotech Inc.
W. Douglas Froom
Vice President, Business Development
(403) 283-5900
(403) 283-5907 (FAX)
synsorb.com
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