News Release
November 13, 1997
Appoints New Director
NORTRAN PHARMACEUTICALS INC ("NRT-V;NTRDF-L")
- Appoints New Director
Michael J.A. Walker, Ph.D., Chairman of Nortran Pharmaceuticals Inc. is pleased to announce that in conjunction with its recently announced strategic alliance with the Chemical Company of Malaysia (CCM), Nortran Pharmaceuticals Inc. (the Company) Mr. Oh Kim Sun has been appointed to the Company's Board of Directors.
Mr. Oh is the Group Executive Director of the CCM Group and the Chairman of CCM Pharma, UPHA Pharmaceutical, UPHA Corporation, Ho Han Medical and Prima Health Pharmacy (Retail) Sdn Bhd. Mr. Oh, a chartered accountant, orchestrated the 1994 management buy-out of CCM from Imperial Chemical Industries Ltd. (ICI) where he had held various senior executive positions for several years.
Mr. Oh was educated in London where he qualified as a chartered accountant. He then served as an audit senior with Coopers and Lybrand in London before returning to Coopers and Lybrand in Kuala Lumpur in 1973. In 1976 he joined the Kuala Lumpur Kepong Group as Finance Director responsible for the Group's corporate secretarial role which covered 8 public companies, and was promoted to Managing Director in 1981.
Mr. Oh joined ICI in 1983 as a Financial Controller and was deeply involved in the ICI Malaysia group's restructuring which was completed in 1987. After this he was seconded to ICI headquarters in London as a Finance Manager responsible for Northern Europe and was involved in such issues as acquisitions, divestments, restructuring, and joint ventures. In 1990 he returned to Malaysia as the Finance Director of Chemical Company of Malaysia Berhad and Managing Director of CCM Fertilizers.
The alliance between Nortran and CCM will be of significant strategic importance for both companies. Nortran, a drug discovery company, will have a development partner and licensee for one of the world's largest and fastest growing pharmaceutical markets. In turn, CCM will acquire a license for Nortran's first compound, RSD921, and will gain access to Nortran's pipeline for those compounds which are particularly suited to the needs of CCM and the Asian markets. Clinical development of RSD921, a local anaesthetic and antiarrhythmic agent, is being continued in Asia, with a Phase II clinical trial to begin shortly. Nortran and CCM are collaborating to ensure fast track clinical development, regulatory approval, and market entry of RSD921.
For the Canadian biopharmaceutical sector, Nortran's alliance with CCM represents an important addition to Canada's high technology links with Asia and paves the way for other such ventures. The Asian Pacific Economic Cooperation (APEC) forum to be held shortly in Vancouver indicates the prime importance of Canada's connections at all levels with the Asian community.
CCM is a major chemical company and a leading pharmaceutical manufacturer in Malaysia with rapidly growing pharmaceutical divisions, the UPHA Group and CCM Pharma (formerly a division of Warner Lambert). It is CCM's intention to become a major player in pharmaceuticals in the ASEAN region (which includes Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam and Brunei) with a population exceeding 400 million. It is expected that by the year 2003 the Asian Free Trade Area will be established, under which it is proposed that goods produced in the member countries will flow in the region with tariffs ranging from zero to a maximum of 5%. The CCM Group is poised to take advantage of this business opportunity.
Further information about CCM may be obtained by calling the company directly at 011-60-3-291-9366. Internet information may be viewed at
klse-ris.com.my
TEL: (604) 822-2278 Nortran Pharmaceuticals Inc. FAX: (604) 822-9578 Sue Milne, Investor Relations TEL: 1-800-330-9928
Website: www.nortran.com
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