Dr. Robert Langer Named as Chairman of Boston Life Sciences, Inc. Newly Formed Science and Technology Committee of the Board of
March 22 2007 - 11:25AM
PR Newswire (US)
HOPKINTON, Mass., March 22 /PRNewswire-FirstCall/ -- Boston Life
Sciences, Inc. (NASDAQ:BLSI), a biotechnology company focused on
diagnostic and therapeutic products for central nervous system
disorders, announced today that the Company has formed a Science
and Technology Committee comprised of independent directors of the
Board. The committee consists of Robert Langer, Sc.D., of MIT who
will serve as chair of the committee, Henry Brem, M.D., of Johns
Hopkins University School of Medicine and Gary Frashier, of
Management Associates. "I'm looking forward to working with Henry
and Gary on BLSI's Science and Technology Committee," stated Dr.
Langer. "Our mission is to provide management and our fellow board
members with independent perspective and strategic guidance as the
company continues to rationalize and build its new product pipeline
and intellectual property estate." "We are continually assessing
the potential value of our existing and prospective programs in the
context of existing, emerging and potential competition. I believe
that Bob, Henry and Gary will provide extremely valuable insights
into and independent assessments of our strategic technology
direction. Our recent acquisition of Cethrin(R) to treat acute
spinal cord injury was an important step on the path to redefining
BLSI and its strategic vision. The unique experiences that Bob,
Henry and Gary share will enable us to further accelerate our
efforts in expanding our development pipeline and creating a
dominant position in the technology platforms we are pursuing,"
said Peter Savas, BLSI's Chairman and CEO. The role of the Science
and Technology Committee will be to assist with drug discovery and
development strategies, identify processes for evaluating and
acquiring technology, and review of the Company's R&D programs.
The Committee will also make recommendations to the Board on the
Company's major technology positions and strategies for new
therapies, trends in healthcare and changing market requirements.
The Science and Technology Committee will complement the Company's
current Audit, Compensation, and Governance Committees. Dr. Robert
Langer, Sc.D. is one of 13 Institute Professors at the
Massachusetts Institute of Technology (MIT). He has written over
900 articles and nearly 550 issued or pending patents worldwide.
His work is at the interface of biotechnology and materials
science. A major focus is the study and development of polymers to
deliver drugs, particularly genetically engineered proteins, DNA
and RNAi, continuously at controlled rates for prolonged periods of
time. Henry Brem, M.D., a nationally acclaimed neurosurgeon, has
been at Johns Hopkins University School of Medicine since 1984.
Today he serves as the Director of the Department of Neurosurgery,
Harvey Cushing Professor of Neurosurgery, Professor of
Ophthalmology, and Oncology. He is also Director of the Hunterian
Neurosurgical Research Laboratory. He is responsible for developing
Gliadel from concept through preclinical and clinical trials and
through FDA approval. Dr. Brem holds several patents for
therapeutic agents and delivery methods. Gary Frashier, through his
company Management Associates, has been a strategic consultant to
entrepreneurial companies in the life sciences field for the last
five years. He served as Chairman and Chief Executive Officer of
OSI Pharmaceuticals, Inc. His other executive positions include
Genex Corporation, Continental Water Systems, Inc., Millipore
Corporation and Waters Associates. About BLSI Boston Life Sciences,
Inc. (BLSI) is engaged in the research and clinical development of
diagnostic and therapeutic products for central nervous system
(CNS) disorders. ALTROPANE(R) molecular imaging agent is in Phase
III clinical trials for the diagnosis of Parkinson's Disease (PD)
and Phase II clinical trials for the diagnosis of Attention Deficit
Hyperactivity Disorder (ADHD). Cethrin(R), a
recombinant-protein-based drug designed to promote nerve repair
after acute spinal cord injury, has reported positive interim
results in a Phase I/IIa clinical trial. The company's research and
pre- clinical CNS programs include Inosine for the treatment of
spinal cord injury and stroke, a DAT blocker for the treatment of
Parkinson's disease, and a second generation technetium-based
molecular imaging agent for PD and ADHD. BLSI's current research
collaborations include Harvard Medical School and Children's
Hospital Boston. Safe Harbor The foregoing release contains certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward- looking
statements include statements regarding Boston Life Sciences'
future expectations, beliefs, intentions, goals, strategies, plans
or prospects regarding the future, including the development and
commercialization of ALTROPANE(R) and Cethrin, the prospects of the
Company's CNS therapeutics program, the Company's strategies to
develop and commercialize axon regeneration technologies and the
breadth of the Company's technologies and intellectual property
portfolio. Forward-looking statements can be identified by
terminology such as "anticipate," "believe," "could," "could
increase the likelihood," "estimate," "expect," "intend," "is
planned," "may," "should," "will," "will enable," "would be
expected," "look forward," "may provide," "would" or similar terms,
variations of such terms or the negative of those terms. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors including those risks,
uncertainties and factors referred to in the Company's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2006 filed
with the Securities and Exchange Commission under the section "Risk
Factors," as well as other documents that may be filed by Boston
Life Sciences from time to time with the Securities and Exchange
Commission. As a result of such risks, uncertainties and factors,
the Company's actual results may differ materially from any future
results, performance or achievements discussed in or implied by the
forward-looking statements contained herein. Boston Life Sciences
is providing the information in this press release as of this date
and assumes no obligations to update the information in this press
release. Contact: Meredith Patin -- 508-497-2360 ext 239 Boston
Life Sciences, Inc. DATASOURCE: Boston Life Sciences, Inc. CONTACT:
Meredith Patin of Boston Life Sciences, Inc., +1-508-497-2360 ext
239, Web site: http://www.bostonlifesciences.com/
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