Axonyx Announces Nominees to Its Board of Directors to Be Presented to Shareholders at Its Forthcoming Annual Meeting.Business Editors/Health/Medical Writers NEW YORK--(BUSINESS WIRE)--May 9, 2003 Axonyx Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AXYX) today announced that at a Board of Directors meeting on May 6, 2003, all current directors were nominated for re-election with the exception of Albert D. Angel, Chairman of the Board of Directors, and Barry E. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , a director of the Company. Both Mr. Angel and Mr. Cohen will be retiring from the Board, at their request, following the 2003 Annual Meeting of Stockholders, scheduled for July 1, 2003. Mr. Angel has served as Chairman of the Board of Axonyx since April 1997 and Barry Cohen Barry Cohen is a former Australian politician. He was the federal member for the seat of Robertson from 1969 until his retirement in 1990. During the 1980s, he was Minister for Arts, Heritage and Environment under the Labor government of Prime Minister Bob Hawke. has served as a director since May 2000. It is expected that Marvin S. Hausman, M.D., President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Axonyx, will be nominated to serve in the added role as the Chairman of the Board of Directors at the board meeting scheduled to immediately follow the Annual Meeting of Stockholders. "Albert Angel and Barry Cohen have brought a wealth of experience to our board based on their distinguished careers as pharmaceutical industry leaders and I am grateful to them for their valuable service as key members of our Board of Directors," stated Marvin S. Hausman, M.D., President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Axonyx. "Albert Angel has played a critical role in the development of Axonyx from its earliest years with his leadership, dedication, and strategic thinking. Barry Cohen has given management and the Board the benefit of his wisdom and experience which have been of incalculable value." Mr. Angel stated, "This is an exciting time for Axonyx. I am proud to have been a part of moving the Company forward to its present position. I have confidence in the skills and determination of the Board and Management to maximize shareholder value and pursue the development of the Company's portfolio". Mr. Cohen added: "I second Mr. Angel's comments and add my best wishes for Axonyx's continued success." About Axonyx Axonyx Inc. is a U.S.-based biopharmaceutical company engaged in the acquisition and development of proprietary pharmaceutical compounds and new technologies useful in the diagnosis and treatment of Alzheimer's disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. , human memory disorders and prion-based illnesses such as Mad Cow Disease mad cow disease: see prion. mad cow disease or bovine spongiform encephalopathy (BSE) Fatal neurodegenerative disease of cattle. Symptoms include behavioral changes (e.g. . This press release may contain forward-looking statements or predictions. These statements represent our judgment to date, and are subject to risks and uncertainties that could materially affect the Company including those risks and uncertainties described in the documents Axonyx files from time to time with the SEC, specifically Axonyx's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Axonyx undertakes no obligation to publicly release the result of any revisions to such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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