pSivida Strengthens Board with Appointment of CFO of US Based Indevus as a Non-Executive Director; Strong Finance and Investment Banking Focus
This is the second US based Non-executive Director appointment made this month by pSivida and reflects the increasing visibility of pSivida in the world's largest healthcare and financial market and follows the company's NASDAQ National market listing earlier this year.
“Michael is a seasoned investment banker and CFO who has focused on biotech and healthcare throughout most of his professional career. pSivida will greatly benefit from his experience”
As Executive Vice-President, Chief Financial Officer and Treasurer of Indevus Pharmaceuticals Incorporated, Mr. Rogers brings his significant financing, acquisition, investment banking, and partnering experience relating to pharma and biotech companies to the pSivida Board. Mr. Rogers will chair the pSivida Audit Committee and will be designated the "financial expert" on the Board.
Indevus Pharmaceuticals is a biopharmaceutical company based in Lexington, MA. and is engaged in the acquisition, development and commercialization of products targeting certain medical specialty areas, including urology and infectious diseases. The company currently markets SANCTURA, a leading treatment for overactive bladders.
Mr. Rogers was previously Executive Vice President, Chief Financial Officer and Corporate Development Officer at Advanced Health Corporation and Vice President, Chief Financial Officer and Treasurer of AutoImmune, Inc. Mr. Rogers has also served as Vice President, Investment Banking, at Lehman Brothers, Inc. and as Vice President, Investment Banking Division, at PaineWebber, Inc. He received an MBA from the Darden School of Business, University of Virginia and a BA, Political Science from Union College.
"Michael is a seasoned investment banker and CFO who has focused on biotech and healthcare throughout most of his professional career. pSivida will greatly benefit from his experience," said Mr. Gavin Rezos, Managing Director, pSivida Limited.
The pSivida Board engaged Tamara P. Davis, Managing Director, Corporate Governance Practice at Levin & Company, Inc. Boston, MA to assist in this important Board Director recruitment.
NOTES TO EDITORS:
pSivida is a global nanotechnology company committed to the biomedical sector and the development of products in healthcare. The company's focus is the development and commercialization of a modified form of silicon (porosified or nano-structured silicon) known as BioSilicon(TM). As a new and exciting biocompatible material, BioSilicon(TM) offers multiple potential applications across the high growth healthcare sector, including controlled release drug delivery, targeted cancer therapies (including brachytherapy and localized chemotherapy), tissue engineering and orthopedics. Potential diagnostics applications are being developed through its subsidiary AION Diagnostics Limited.
pSivida owns the intellectual property rights to BioSilicon(TM) for use in or on humans and animals. The IP portfolio consists of 26 patent families, 29 granted patents and over 80 patent applications. The core patent, which recognises BioSilicon(TM) as a biomaterial was granted in the UK in 2000 and in the US in 2001.
The Company's strategic partner and largest shareholder is the QinetiQ group, the largest science and technology company in Europe. QinetiQ is the former UK government Defence Evaluation Research Agency and was instrumental in discovering BioSilicon(TM). pSivida enjoys a strong relationship with QinetiQ having access to its cutting edge research and development facilities. For more information on QinetiQ visit www.qinetiq.com.
For more information visit www.psivida.com
This document contains forward-looking statements that involve risks and uncertainties. Although we believe that the expectations reflected in such forward-looking statements are reasonable at this time, we can give no assurance that such expectations will prove to be correct. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements due to many important factors including: our failure to develop applications for BioSilicon(TM) due to regulatory, scientific or other issues. Other reasons are contained in cautionary statements in the Registration Statement on Form 20-F filed with the U.S. Securities and Exchange Commission, including, without limitation, under Item 3.D, "Risk Factors" therein. We do not undertake to update any oral or written forward-looking statements that may be made by or on behalf of pSivida.