Critical Therapeutics Appoints Pharmaceutical Industry Veteran Robert Zeiger as Independent Director.LEXINGTON, Mass. -- Critical Therapeutics, Inc. (Nasdaq: CRTX), a biopharmaceutical company focused on the discovery, development and commercialization of products for respiratory, inflammatory and critical care diseases, today announced the appointment of Robert H. Zeiger as an independent director of the Company's board of directors. Zeiger, age 60, served as chief executive officer of Viragen, Inc. (AMEX AMEX See: American Stock Exchange : VRA VRA Visual Resources Association VRA Voting Rights Act of 1965 VRA Volta River Authority VRA Veterans Recruitment Appointment VRA Virginia Recycling Association VRA Volunteer Rescue Association ( Australia) VRA Voice Risk Analysis ), a Plantation, Florida-based biopharmaceutical company, from 1995 to 1998 and as vice chairman of Viragen's board of directors until his retirement in 2002. Before joining Viragen, Zeiger worked for nine years at Glaxo, Inc. of Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C., most recently as general manager of Glaxo Pharmaceuticals. Under his leadership, sales of Glaxo's ulcer drug, Zantac(R), increased significantly and Zantac(R) became the nation's most prescribed pharmaceutical. In addition to Zantac(R), Zeiger's division was responsible for the launch of Imitrex(R), a treatment for migraine headaches Migraine Headache Definition Migraine is a type of headache marked by severe head pain lasting several hours or more. Description Migraine is an intense and often debilitating type of headache. , and Zofran(R), a drug to treat chemotherapy-induced emesis chemotherapy-induced emesis Chemotherapy-induced nausea & vomiting Oncology A side effect of many chemotherapeutic agents which, while often the most anxiety-provoking of the toxic effects of chemotherapy, is self-limited and rarely life-threatening Highly and post-operative nausea. From 1988 to 1991, Zeiger was general manager of Glaxo's Allen & Hansburys division, which was responsible for respiratory and cardiovascular products and oral antibiotics. The division launched several FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approved products during his tenure, including Ceftin(R), an oral antibiotic. "Robert Zeiger's appointment reflects our commitment to a strong and independent board that will effectively represent the interests of our stockholders," said Paul Rubin, M.D., Critical Therapeutics' president and chief executive officer. "Bob brings 33 years of pharmaceutical and biotechnology experience to the board, so his industry perspective and insights will be invaluable as we execute our product sales and marketing strategy, beginning with the planned launch of Zyflo(R) (zileuton zileuton /zi·leu·ton/ (zi-loo´ton) an inhibitor of leukotriene formation, used as an antiasthmatic. Zileuton (Zyflo) tablets) for the asthma market in mid-2005." "I am excited about the opportunity to join Critical Therapeutics as a director," said Zeiger, who becomes the eighth member of the board. "This is a dynamic young company anchored by a broad pipeline of candidates and an FDA approved product. I look forward to working with the other members of the board and the management team as we strive to continually build on our success." About Critical Therapeutics Critical Therapeutics, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of products for respiratory, inflammatory and critical care diseases. The Company is developing a sales and marketing infrastructure in connection with its in-licensed product, Zyflo(R), a tablet formulation of zileuton. Critical Therapeutics also is developing treatments directed toward the severe inflammatory response in acute diseases and conditions that lead to admission to the emergency room or intensive care unit, and acute exacerbations of other chronic diseases that frequently lead to hospitalization hospitalization /hos·pi·tal·iza·tion/ (hos?pi-t'l-i-za´shun) 1. the placing of a patient in a hospital for treatment. 2. the term of confinement in a hospital. . For more information, please visit www.criticaltherapeutics.com. 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. Statements in this press release that are not strictly historical in nature are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements, which include statements with respect to the progress and timing of our drug development programs and related trials and the efficacy of our drug candidates, are subject to numerous risks and uncertainties that may cause actual events or results to differ materially from those set forth in the statements. No forward-looking statements can be guaranteed, and actual results may differ materially from those projected as a result of various important factors, including risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc : the results of preclinical studies preclinical studies, n.pl a term used to describe research done before a clinical study. May be laboratory or epidemiologic research. and clinical trials with respect to our products under development and whether such results will be indicative of results obtained in later clinical trials; the timing and success of submission, acceptance and approval of our regulatory filings; our heavy dependence on the commercial success of Zyflo(R) tablets and the controlled-release formulation of zileuton; our ability to obtain the substantial additional funding required to conduct our research, development and commercialization activities; our dependence on our strategic collaboration with MedImmune, Inc.; and our ability to obtain, maintain and enforce patent and other intellectual property protection for drug candidates and our discoveries. These and other risks are described in greater detail in the "Factors That May Affect Future Results" section of our most recent Report on Form 10-Q Form 10-Q See 10-Q. and other filings that we periodically file with the Securities and Exchange Commission. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. All forward-looking statements reflect our beliefs and expectations as of the date of this release and should not be relied upon as representing our views as of any subsequent date. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements publicly at some point in the future, we specifically disclaim dis·claim v. dis·claimed, dis·claim·ing, dis·claims v.tr. 1. To deny or renounce any claim to or connection with; disown. 2. To deny the validity of; repudiate. 3. any obligation to do so, whether as a result of new information, future events or otherwise. |
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