NUCRYST appoints interim CEO
19 Janeiro 2009 - 5:31PM
PR Newswire (US)
PRINCETON, NJ, Jan. 19 /PRNewswire-FirstCall/ -- The Board of
Directors of NUCRYST Pharmaceuticals Corp. today announced the
appointment of David B. Holtz as interim President and Chief
Executive Officer of the Company and Neil Carragher as Chairman,
effective immediately. Mr. Holtz replaces Thomas E. Gardner, who
was Chairman, President and Chief Executive Officer. Mr. Carragher,
currently lead director of NUCRYST, will assume the role of
Chairman, effective immediately. Mr. Holtz will also remain as CFO.
Previously, Mr. Holtz was Vice President and Chief Financial
Officer of NUCRYST. "David's experience and skills will be
beneficial to NUCRYST as management focuses all efforts on bringing
the company to profitability," said Mr. Carragher. "We thank Tom
Gardner for his many contributions to the company and for his
dedicated service." Before joining NUCRYST, Mr. Holtz served as a
financial management consultant for various start-up companies,
including Virium Pharmaceuticals, Inc. Previously he worked in
managerial roles of increasing importance at Integra LifeSciences
Holdings Corporation from October 1993 through December 2006, most
recently as Senior Vice President Finance. While at Integra, Mr.
Holtz oversaw Integra's European operations to support the
transition of acquisitions in Europe and managed all worldwide
financial reporting and accounting functions. Prior to Integra, he
worked for Coopers & Lybrand LLP and Cono Leasing Corporation.
Mr. Holtz received a B.S. in Business Administration with an
emphasis on finance from Susquehanna University. NUCRYST
Pharmaceuticals Corp. (NASDAQ: NCST; TSX: NCS) develops,
manufactures and commercializes medical products that fight
infection and inflammation using SILCRYST(TM), its patented
atomically disordered nanocrystalline silver technology. NUCRYST
licensed world-wide rights for SILCRYST(TM) wound care coating
products to Smith & Nephew plc, which markets these products in
over 30 countries under their Acticoat(TM) trademark. NUCRYST is
also developing pharmaceutical products to address medical
conditions that are characterized by pain, infection and
inflammation. The Company has developed its proprietary
nanocrystalline silver in a powder form, referred to as NPI 32101
for use in medical devices and as an active pharmaceutical
ingredient. Acticoat(TM) is a trademark of Smith & Nephew plc
SILCRYST(TM) is a trademark of NUCRYST Pharmaceuticals Corp. This
news release contains forward-looking statements within the meaning
of securities legislation in the United States and Canada
(collectively "forward-looking statements"). Forward-looking
statements in this news release include, but are not limited to,
statements about bringing the company to profitability. With
respect to the forward-looking statements contained in this news
release, readers are cautioned that numerous risks, uncertainties
and other factors could cause our actual results to differ
materially from those indicated in these statements including, but
not limited to: Westaim's stated intention to review its
alternatives for maximizing the value of its stake in NUCRYST, the
identification and pursuit of new opportunities to grow the value
of NUCRYST; performance of stock markets generally; our ability to
satisfy regulatory and stock exchange standards and requirements to
maintain our exchange listing; our future operation results are
uncertain and likely to fluctuate; our ability to maintain our
collaboration with Smith & Nephew; our reliance on sales of
Acticoat(TM) products with our SILCRYST(TM) coatings by Smith &
Nephew; and the future financial performance and operating
performance of Smith & Nephew. Although we have attempted to
identify the important risks, uncertainties and other factors that
could cause actual results or events to differ materially from
those expressed or implied in forward-looking statements, there may
be other factors that cause actual results or events to differ from
those expressed or implied in forward looking statements. For a
more thorough discussion of the risks associated with our business,
see the "Risk Factors" section in our Annual Report on Form 10-K
for the year ended December 31, 2007 and in our Quarterly Report on
Form 10-Q for the quarter ended September 30, 2008, filed with the
U.S. Securities and Exchange Commission on EDGAR at
http://www.sec.gov/ and with securities authorities in Canada on
SEDAR at http://www.sedar.com/. All forward-looking statements are
expressly qualified in their entirety by this cautionary statement
and NUCRYST disclaims any intention or obligation to revise or
update any forward-looking statements whether as a result of new
information, future developments or otherwise after the date
hereof. DATASOURCE: NUCRYST Pharmaceuticals Corp. CONTACT: David
Wills, Investor Relations, (416) 504-8464,
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