Advancis Pharmaceutical Appoints New Board Member
April 23 2007 - 2:48PM
PR Newswire (US)
GERMANTOWN, Md., April 23 /PRNewswire-FirstCall/ -- Advancis
Pharmaceutical Corporation (NASDAQ:AVNC), a pharmaceutical company
focused on developing and commercializing novel anti-infective
products, today announced that it has appointed Martin Vogelbaum to
join the Advancis Board of Directors, expanding the size of its
board to seven directors. Mr. Vogelbaum is a partner with Rho
Ventures, a venture capital firm focused on investing in technology
and healthcare companies through all stages of capital formation.
Prior to joining Rho Ventures, Mr. Vogelbaum spent five years as a
general partner of Apple Tree Partners, a life sciences venture
capital firm, where he founded several biotechnology companies.
Previously, he was a general partner of Oxford Bioscience Partners,
which he joined in 1993. Mr. Vogelbaum currently serves on the
Board of Directors of several privately- held companies, including
Chairman of Gloucester Pharmaceuticals. Mr. Vogelbaum received his
AB in biology and history from Columbia University. "We are
delighted to have Martin join our Board of Directors, as he brings
a great deal of experience and additional perspective that will be
an asset to Advancis as we continue to implement our current
initiatives," said Dr. Edward Rudnic, Advancis president and CEO.
"I know the entire board joins me in welcoming Martin to our Board
of Directors and we look forward to his contributions to our
Company." "I am pleased to be joining the Advancis board,"
commented Mr. Vogelbaum. "We have been long standing investors in
Advancis so I look forward to helping the company achieve its full
potential as it moves into its next stage of development." About
Rho Ventures: Rho has been backing venture-stage companies in the
U.S. since its inception in 1981. Venture capital funds under
management currently exceed $1 billion. Rho Ventures has invested
in over 165 venture stage companies and helped build market leaders
across many high growth industries. Previous investments include
Ciena Corporation, Commerce One, Compaq Computer Corporation,
Diversa Corporation, Human Genome Sciences, Inc., iVillage,
Leukosite (currently part of Millennium Pharmaceuticals),
MedImmune, Inc., NitroMed, Senomyx, Tercica, Tripod (currently part
of Lycos), Vanda Pharmaceuticals and Vicuron. More information on
Rho can be found at http://www.rho.com/ . About Advancis
Pharmaceutical Corporation: Advancis Pharmaceutical Corporation
(NASDAQ:AVNC) is a pharmaceutical company focused on the
development and commercialization of pulsatile drug products that
fulfill substantial unmet medical needs in the treatment of
infectious disease. The Company is developing anti-infective drugs
based on its novel biological finding that bacteria exposed to
antibiotics in front- loaded staccato bursts, or "pulses," are
killed more efficiently than those under standard treatment
regimens. Based on this finding, Advancis has developed a
proprietary, once-a-day pulsatile delivery technology called
PULSYSTM. By examining the resistance patterns of bacteria and
applying its delivery technologies, Advancis has the potential to
redefine infectious disease therapy and significantly improve drug
efficacy, shorten length of therapy, and reduce drug resistance
versus currently available antibacterial products. For more on
Advancis, please visit http://www.advancispharm.com/ . This
announcement contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These statements are based on Advancis' current expectations and
assumptions. These statements are not guarantees of future
performance and are subject to a number of risks and uncertainties
that would cause actual results to differ materially from those
anticipated. The words, "believe," "expect," "intend,"
"anticipate," and variations of such words, and similar expressions
identify forward-looking statements, but their absence does not
mean that the statement is not forward- looking. Completion of the
financing described in this news release is subject to customary
closing conditions. If any of the conditions to closing are not
satisfied, the closing may not be completed. The actual results
realized by Advancis could differ materially from these
forward-looking statements, depending in particular upon the risks
and uncertainties described in the Company's filings with the
Securities and Exchange Commission. These include, without
limitation, risks and uncertainties relating to the Company's
financial results and the ability of the Company to (1) raise
additional capital and continue as an ongoing concern, (2) increase
Keflex 750mg capsules sales, (3) obtain FDA approval for its
Amoxicillin PULSYS product candidate, (4) successfully reduce
costs, (5) maintain compliance with its outstanding credit facility
with Merrill Lynch Capital, (6) reach profitability, (7) prove that
the preliminary findings for its product candidates are valid, (8)
receive required regulatory approvals, (9) successfully conduct
clinical trials in a timely manner, (10) establish its competitive
position for its products, (11) develop and commercialize products
that are superior to existing or newly developed competitor
products, (12) develop products without any defects, (13) have
sufficient capital resources to fund its operations, (14) protect
its intellectual property rights and patents, (15) implement its
sales and marketing strategy, (16) successfully attract and retain
collaborative partners, (17) successfully commercialize and gain
market acceptance for its Keflex products, (18) successfully obtain
sufficient manufactured quantities of its drug products at
acceptable rates, and (19) retain its senior management and other
personnel. Existing and prospective investors are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of today's date. Advancis undertakes no obligation to
update or revise the information in this announcement, whether as a
result of new information, future events or circumstances or
otherwise. DATASOURCE: Advancis Pharmaceutical Corporation CONTACT:
Robert Bannon, Vice President, Investor Relations, Advancis
Pharmaceutical Corp, +1-301-944-6710, Web site:
http://www.advancispharm.com/ http://www.rho.com/
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