Here's some news out, that I found today...
BW1551 JAN 23,1997 18:45 PACIFIC 21:45 EASTERN
( BW)(RECEPTAGEN-LTD)(RCG.)(RCEPF) Receptagen Ltd. - Warren Wheeler
Appointed to Additional Responsibilities as Chief Executive Officer
of Receptagen Ltd.
Business Editors
BURNABY, BRITISH COLUMBIA--(BUSINESS WIRE)--Jan. 23, 1997--
Receptagen Ltd.(TSE RCG., OTC Bulletin Board:RCEPF) Receptagen
Ltd. (TSE-RCG/OTCBB-RCEPF) announced that Albert G. Chiasson has
resigned from the Company as Chief Executive Officer and Chair of the
Board. He was previously appointed to both positions on February 7,
1996.
Warren Wheeler will assume responsibilities as the new Chief
Executive Officer and retain his current responsibilities as
President and board member of the Company. Wheeler stated,
"Receptagen has been well served by Chiasson and he will be
sorely missed by the management team. He brought the Company through
a very difficult period and helped us resolve many of the challenges
facing us last year."
Chiasson resigned from Receptagen Ltd. in order to accept a
position as President and C.E.O. of another major North American
pharmaceutical company. The vacancy left on the board level for the
chair position will be resolved when the board convenes in the very
near future.
Receptagen has been actively involved in three operations:
Receptagen Corp. in Edmonds, Washington, has been pursuing worldwide
development of proprietary "Growth Blocker" drugs to induce
apoptosis (programmed cell death) in cancer cells; Ryan
Pharmaceuticals Inc. in Edmonds, Washington, owns the exclusive
rights to U.S. commercialization of Coenzyme Q10 (CoQ10) for use in
treating AIDS symptoms; and VWD Distributors which is a wholesale
drug and durable medical equipment (DME) division in Burnaby, British
Columbia, Canada.
-0-
The Toronto Stock Exchange has neither approved nor
disapproved
of the information contained herein.
--30--CB/np*
CONTACT: Receptagen Ltd.
Warren Wheeler, 206/ 778-5260
or
Receptagen Ltd.
Joseph S. Baba, 206/ 778-5260
KEYWORD: NEW YORK
INDUSTRY KEYWORD: PHARMACEUTICAL
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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