Inflazyme Pharmaceuticals Names John Hodgman as Chairman of Board of Directors
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 23, 2005) - Inflazyme
Pharmaceuticals Ltd. (TSX:IZP) today announced the appointment of John Hodgman
as the Chairman of the Board of Directors effective immediately. Mr. Hodgman
succeeds Dr. Walter Lovenberg who has served as Inflazyme's Chairman since 1997
and will continue to remain an active member of the Board.
"We are very excited that John has accepted the position of Chairman of our
Board of Directors," said Kevin Mullane, President and CEO of Inflazyme. "His
broad experience in leadership positions in emerging and established public
biotechnology companies will serve us well as Inflazyme continues to build its
pipeline and strengthen its position in the market. We look forward to
benefiting from his vision and strategic counsel, and his prior accomplishments
in building successful businesses."
"Inflazyme is well positioned for providing unique and novel solutions for the
treatment of inflammatory disorders," commented John Hodgman. "I believe the
Company is poised for growth as it realizes its development and clinical
strategy. I am enthusiastic about working with management as they chart a
successful course for Inflazyme."
Mr. Hodgman has over 25 years experience in finance, management and leadership
positions in public and private biotechnology, software and high technology
companies in the US. He has a proven track record with companies from early
start-up phases, including transitioning boutique research and development
companies, through to commercial operations with worldwide sales and marketing.
Mr. Hodgman has raised over US$350 million in private and public equity
financings and, in addition, he has successfully negotiated multiple M&A
transactions, license and technology agreements and divestments that have
resulted in significant value creation. He is a graduate of Brigham Young
University in Accounting and Finance, and has an MBA in Finance and Business
Law from the University of Utah.
"I am very pleased to welcome John Hodgman to our Board as Chairman," said Dr.
Lovenberg. "He brings many of the talents we need to recognize the value of our
programs. I remain fully committed to the ultimate success of our Company."
Dr. Lovenberg will continue to assist Inflazyme through his involvement on the
Board of Directors. "I'd like to acknowledge on behalf of the Board and our
employees the valuable and significant contributions of Walter Lovenberg who,
as Inflazyme's Chairman, has guided the growth of our Company from a research
operation to a product focused enterprise," said Kevin Mullane.
Corporate governance best practices are increasingly moving to even greater
independence for board members. All of Inflazyme's directors, other than the
President and CEO, are independent members of the Board. |
