HomeNewsLatest PharmaFrontiers Corp Elects Brooks Boveroux as Chairman
PharmaFrontiers Corp Elects Brooks Boveroux as Chairman
Tuesday, 08 November 2005
PharmaFrontiers Corp Elects Brooks Boveroux as Chairman
THE WOODLANDS, TX, (NAMC) - PharmaFrontiers Corp. (OTCBB:PFTR) announced today that Brooks Boveroux has been unanimously elected as chairman of the board, effective immediately. Mr. Boveroux, age 62, previously served as interim chairman. In addition to his duties as chairman, Mr. Boveroux will assume primary responsibility in leading the Company in its finance and capital-raising activities as well as its efforts in the public markets. This builds upon Mr. Boveroux's significant and proven expertise in guiding the finance activities of companies in the biotechnology industry. Mr. Boveroux previously served as VP of finance and CFO for companies such as Biogen, ImClone Systems and The Liposome Company, all of which grew to become significant Nasdaq listed companies. Mr. Boveroux also serves as chairman of the audit committee.
PharmaFrontiers also announced that, as a result of the FDA's approval to commence Phase IIb human clinical trials for Tovaxin(TM) in Multiple Sclerosis and Mr. Boveroux's oversight of the finance efforts, the Company's CEO, David McWilliams, will now be able to focus substantially all of his efforts on the internal implementation of the Company's programs to complete successfully this clinical study and its other partnering and scientific programs.
"Having recently joined the board, I believe we have a significant opportunity to develop the Company's operations and financial position," said Mr. Boveroux. "All of our independent directors are new, having served in their positions for less than one year, and this new board is dedicated to the challenges ahead. The Company is facing a significant and exciting stage of clinical development as it implements the upcoming Phase IIb trials. We are encouraged from the results of our earlier studies, which demonstrated a 92% reduction in annual relapse rates for Multiple Sclerosis as outlined in our October 3rd press release and the power of this technology to treat this devastating disease."
Mr. Boveroux's career in the health care industry has spanned over two decades of senior level financial positions with public and private companies, both in the research stage and those marketing approved products. In addition to his senior financial positions with biotechnology companies, Mr. Boveroux earlier in his career held financial positions of increasing responsibility and diversity in companies including PepsiCo, Inc. and Allied-Signal (now Honeywell).
About PharmaFrontiers Corp
PharmaFrontiers' is developing and commercializing cell therapies to treat several major disease areas led by Tovaxin(TM) to treat Multiple Sclerosis as well as cardiac and pancreatic conditions. PharmaFrontiers owns patented and proprietary individualized cell therapies that are employed in treating MS. The company also holds the exclusive worldwide license from the University of Chicago, through its relationship with Argonne National Laboratory, for patents relating to the use of adult pluripotent stem cells derived from patients' own circulating blood.
Safe Harbor Statement
This press release contains "forward-looking statements," including statements about PharmaFrontiers' growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. These forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to PharmaFrontiers' ability to obtain additional funding, develop its stem cell technologies, achieve its operational objectives and obtain patent protection for its discoveries, that may cause PharmaFrontiers' actual results to be materially different from any future results expressed or implied by such forward-looking statements. PharmaFrontiers undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: PharmaFrontiers Corp. C. William Rouse 281-775-0608 or Lippert/Heilshorn & Associates Investor Relations Contacts: Kim Sutton Golodetz 212-838-3777 Bruce Voss, 310-691-7100 or Media Relations Contact: Mark Stuart 310-691-7100