NovaDel Names Michael Spicer Chief Financial Officer
FLEMINGTON, N.J., Dec. 22 /PRNewswire-FirstCall/ -- NovaDel Pharma, Inc. (AMEX:NVD), today announced that it has appointed Michael E. Spicer to the
position of chief financial officer. Mr. Spicer brings NovaDel over 20 years'
experience in finance, accounting and general management.
"Mike is joining NovaDel at a critical time -- our senior management team has
been greatly strengthened over the past year with the addition of highly
experienced industry executives, we have filed the first NDA from our pipeline
of compounds and we have concluded a number of important marketing
collaborations," said Gary A. Shangold, MD, NovaDel's president and chief
executive officer. "Mike's strong record of accomplishment in overseeing the
financial management of rapidly growing life sciences companies and his
successful experience in serving as the CFO of a publicly-traded firm should be
of great value to NovaDel as we enter this next phase of our development." NovaDel is developing its proprietary lingual spray (oral spray) technology as
a novel, effective drug delivery system with the potential for faster onset of
action, a favorable safety profile and improved patient compliance.
Mr. Spicer joins NovaDel from Orchid BioSciences Inc. a leading provider of
identity genetics testing services, where he was chief financial officer. At
Orchid he played a key role in the successful capital restructuring of the
company and its recent achievement of quarterly operating profitability. From
1998 to 2001, Mr. Spicer was chief financial officer for Lifecodes Corporation,
and also served as general manager for one of Lifecodes' significant operating
divisions. Lifecodes was acquired by Orchid in 2001.
Prior to joining Lifecodes, Mr. Spicer's background includes finance and
accounting positions at White River Corporation, The Chinet Company, Kraft
General Foods, and Deloitte & Touche.
Mr. Spicer is a Certified Public Accountant and holds an undergraduate degree
in Accounting from the University of Virginia and an MBA from Harvard Business
School.
About NovaDel Pharma, Inc.
NovaDel Pharma, Inc. is a specialty pharmaceutical company engaged in the
development of novel drug delivery systems for prescription and over-the-
counter drugs. The company's proprietary lingual spray technology delivery
system offers the patient the potential for (i) fast onset of action; (ii)
improved drug safety by reducing the required drug dosage and reducing side
effects; (iii) improved patient convenience and compliance; and (iv) enhanced
dosage reliability. The company plans to develop such products independently
and through collaborative arrangements with major pharmaceutical and biotech
companies. More information about NovaDel can be found on its website at
http://www.novadel.com/.
Except for historical information contained herein, this document contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements involve known and unknown risks
and uncertainties that may cause the Company's actual results or outcomes to be
materially different from those anticipated and discussed herein including, but
not limited to, the successful completion of its pilot pharmacokinetic
feasibility studies, the ability to develop products (independently and through
collaborative arrangements), the ability to commercialize and obtain FDA and
other regulatory approvals for products under development and the acceptance in
the marketplace for lingual spray products.. Further, the Company operates in
industries where securities may be volatile and may be influenced by regulatory
and other factors beyond the Company's control. Important factors that the
Company believes might cause such differences are discussed in the risk factors
detailed in the Company's most recent Annual Report and Registration
Statements, filed with the Securities and Exchange Commission. In assessing
forward-looking statements contained herein, if any, the reader is urged to
carefully read all cautionary statements contained in such filings.
Contact:
Barry C. Cohen Thomas Redington
VP Business & New Product Development 203 222-7399
908 782-3431 x2160 212 926-1733
NovaDel Pharma Inc. DATASOURCE: NovaDel Pharma, Inc.
CONTACT: Barry C. Cohen, VP Business & New Product Development of NovaDel Pharma Inc., +1-908-782-3431 ext. 2160; or Thomas Redington, +1-203-222-7399, +1-212-926-1733, , for NovaDel Pharma Inc.
Web site: http://www.novadel.com/
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