NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE - A SERVICE OF ITG
FOR: PROCYON BIOPHARMA INC.
TSE SYMBOL: PBP
APRIL 24, 2001 - 09:00 EDT
Gearing Up for Expansion: Procyon BioPharma Strengthens
Finance Team
MONTREAL, QUEBEC--As it prepares to broaden its product pipeline,
Procyon BioPharma Inc. announced today the appointment of Ms.
Monique Létourneau, CFA, as Executive Vice-President, Finance, and
CFO of the Company, effective June 11, 2001. Ms. Létourneau,
presently Treasurer of Power Corporation of Canada and of Power
Financial Corporation, will assume overall financial
responsibility at Procyon and will focus her efforts particularly
on financing the continuing expansion of the Company and on
working closely with institutional brokers and portfolio managers
in order to increase the institutional shareholder base. Mr.
Edward Yeats, formerly Secretary-Treasurer and CFO becomes
Vice-President, Chief Accounting Officer and Controller of the
Company responsible for the on-going control of Procyon's
finances.
Prior to joining Procyon, Ms. Létourneau spent 12 years with Power
Corporation of Canada and Power Financial Corporation, first as a
financial analyst, then as Assistant Treasurer and, since 1997, as
Treasurer. She has also worked as a financial analyst with Samson
Bélair Deloitte & Touche and with Le Groupe SGF. Ms. Létourneau
received her CFA certification in 1989 following a bachelors
degree in business administration (finance option) from the
Université de Sherbrooke and a masters degree in management
science (M.Sc. finance) from the Ecole des Hautes Etudes
Commerciales (HEC) in Montreal. Ms. Létourneau's experience
includes corporate financing on both the Canadian and
international markets, investment activities, as well as treasury
and financial risk management.
Mr. Edward Yeats has over 30 years financial experience in a
variety of business environments. Prior to joining Procyon he was
Controller and General Manager of Dean Russell Ltd., a medical
supplies company located in London, Ontario. He also served as
Vice-President, Finance, for an international soft-drink
manufacturing company. Mr. Yeats has been with Procyon since
1995.
"I believe Procyon now has one of the strongest financial teams in
the biopharmaceutical industry in Canada," said Hans J. Mader,
President & CEO of Procyon BioPharma Inc. "Their skills will help
provide us with the solid financial base necessary to bring our
products to market and to expand our pipeline," he added.
Procyon BioPharma Inc. is a publicly listed, biopharmaceutical
Company focused principally on advancing two powerful platform
technologies that have the potential to diagnose and treat cancer.
Procyon's non-pathogenic Antinuclear Autoantibodies (ANAs) bind
specifically to multiple cancer cell types strongly enhancing the
immune response to cancer cells. Prostate Secretory Protein
(PSP(94)) is a naturally occurring human protein that has the
potential to treat prostate cancer by inhibiting abnormal prostate
cell growth. In addition, the estimation of PSP(94) levels in
prostate cancer patients may have prognostic and diagnostic
applications. Procyon also has two late-stage products:
FIBROSTAT(R), a topical cream for the management of newly formed
scars following surgery or burns and COLOPATH(R), a rapid,
non-invasive screening test for colorectal cancer.
Procyon's shares trade on the Toronto Stock Exchange under the
ticker symbol, PBP.
This release contains forward-looking statements that reflect the
company's current expectation regarding future events. The
forward-looking statements involve risk 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.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Procyon BioPharma Inc.
Hans Mader
(514) 685-9283
hmader@procyonbiopharma.com
www.procyonbiopharma.com
or
NATIONAL Public Relations
Nathalie Bourque
Public Relations
(514) 843-2309
or
Renmark Financial Communications Inc.
John Stella
Investors Relations
jstella@renmarkfinancial.com |
