Atlantic Pharmaceuticals Announces the Appointment of Robert A. Fildes, Ph.D. as Interim President and CEO; Jon D. Lindjord Resigns.RALEIGH, N.C.--(BUSINESS WIRE)--July 14, 1998--The board of directors of Atlantic Pharmaceuticals, Inc. (Nasdaq SmallCap: ATLC ATLC Arbitrary Transmission Line Calculator ATLC Atomic Trades and Labor Council ATLC Air Transport Label Catalog ATLC Advanced Technology Licensing Company ) announced today that it has appointed Robert A. Fildes, Ph.D., currently chairman of Atlantic's board of directors, as interim president and chief executive officer. Dr. Fildes will continue to act as chairman. Yuichi Iwaki, M.D., Ph.D., and John K.A. Prendergast, Ph.D., both current directors of Atlantic, have been named to a new Executive Committee of the board and, as such, will be assisting Dr. Fildes in carrying out his duties while the Company searches for a successor. Jon D. Lindjord, president, chief executive and board member, has resigned all of his positions at Atlantic, effective immediately. "Atlantic Pharmaceuticals' diverse technologies and strong business potential convinced me to join the board last year," said Dr. Fildes. "I believe the recent worldwide licensing agreement with Bausch & Lomb for Atlantic's innovative cataract cataract, in medicine, opacity of the lens of the eye, which impairs vision. In the young, cataracts are generally congenital or hereditary; later they are usually the result of degenerative changes brought on by aging or systemic disease (diabetes). removal device validates the Company's strategy of developing promising early stage technologies to the point where a larger partner can license the technology and bring it to market. "Our job is to continue the development of existing technologies while being alert to promising new product candidates. Drs. Iwaki, Prendergast and I will be working together closely to ensure that these activities continue to progress while we search for a seasoned executive to lead Atlantic. "The rest of the board and I want to thank J.D. Lindjord for his work over the last three years in assembling an impressive portfolio of technologies, advisors and research alliances for the Company. We wish him the best in his future endeavors," Fildes concluded. Dr. Fildes was previously chairman and chief executive officer of Scotgen Biopharmaceuticals, Inc., president and chief executive officer of Cetus Corporation, and president of Biogen Inc. He has held executive research and development and operations positions at Bristol Myers Corporation and Glaxo Welcome PLC. Dr. Fildes is a founder and past board member of the Industrial Biotechnology The references in this article would be clearer with a different and/or consistent style of citation, footnoting or external linking. Industrial biotechnology (known mainly in Europe as white biotechnology Association and was formerly a consultant to the U.S. Office of Technology Assessment. Dr. Fildes was graduated with a B.Sc. in chemistry and human physiology Human physiology is the science of the mechanical, physical, and biochemical functions of humans in good health, their organs, and the cells of which they are composed. The principal level of focus of physiology is at the level of organs and systems. from the University of London For most practical purposes, ranging from admission of students to negotiating funding from the government, the 19 constituent colleges are treated as individual universities. Within the university federation they are known as Recognised Bodies , where he also received a D.C.C. in microbiology microbiology: see biology. microbiology Scientific study of microorganisms, a diverse group of simple life-forms including protozoans, algae, molds, bacteria, and viruses. and a Ph.D. in biochemical genetics. Based in Raleigh, NC, Atlantic Pharmaceuticals is a biopharmaceutical company developing pharmaceutical and biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. products for a variety of therapeutic areas. The Company's strategy, which differentiates its approach from that of many biotechnology firms, is to develop a diverse portfolio of promising and independent product candidates licensed from a variety of sources. Currently, Atlantic is developing novel, proprietary technologies in cataract removal, antisense antisense, DNA or RNA manipulated in a laboratory so that its components (nucleotides) form a complementary copy of normal, or "sense," messenger RNA (mRNA; see nucleic acid). gene therapy, prevention of restenosis restenosis /re·ste·no·sis/ (re?ste-no´sis) recurrent stenosis, especially of a cardiac valve after surgical correction of the primary condition.restenot´ic re·ste·no·sis n. following coronary angioplasty angioplasty (ăn`jēōplăs'tē), any surgical repair of a blood vessel, especially balloon angioplasty or percutaneous transluminal coronary angioplasty, a treatment of coronary artery disease. , and anti-inflammatory/analgesic drugs. This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that relate to future business, scientific and financial performance. Such statements can only be predictions and are subject to a number of factors and uncertainties, which may cause the actual events or future results to differ from those discussed herein. Such factors include those risks described in the Company's most recent reports on Forms 10-QSB and 10-KSB previously filed with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this release. For more information on Atlantic Pharmaceuticals' technologies, visit the Company's homepage at http://www.atlan.com. Atlantic's press releases are available through BusinessWire's web site at http://www.businesswire.com. The releases also are available at no charge through BusinessWire's fax-on-demand service at 888-286-8109.
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