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Cypress Bioscience Appoints Sheldon Drobny to Board of Directors.


Business Editors and Health/Medical Writers

SAN DIEGO--(BW HealthWire)--June 28, 2001

Cypress Bioscience 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
:CYPB) Thursday announced the appointment of Sheldon Drobny to its board of directors.

Drobny, age 55, currently serves as chairman, principal and managing director of the Paradigm Group LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 (Paradigm), an investment firm focused on venture capital and investment banking services for multiple industries with an emphasis on technology-based companies. Paradigm has invested nearly $200 million in over 40 companies. He is and has been a board member of numerous Paradigm Group portfolio companies and is also a partner in the Northbrook, Ill.-based accounting firm of Adler Drobny Fischer.

Drobny is a certified public accountant Certified Public Accountant (CPA)

An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state.
 and winner of the Elijah Watts Sells award. Prior to entering public accounting, Drobny held various positions with the Internal Revenue Service including supervisor of the Technical Review Staff. Drobny specializes in business and tax matters and is one of less than 200 people since 1942 to be admitted to practice before the U.S. Tax Court as a non-attorney. He is a member of the American Institute of Certified Public Accountants With over 330,525 CPA members (in August 2006), the American Institute of Certified Public Accountants (AICPA) is the largest professional organization of Certified Public Accountants (CPAs) in the United States of America.  and a University of Illinois University of Illinois may refer to:
  • University of Illinois at Urbana-Champaign (flagship campus)
  • University of Illinois at Chicago
  • University of Illinois at Springfield
  • University of Illinois system
It can also refer to:
 Foundation member since 1998. Drobny received a bachelor of science Noun 1. Bachelor of Science - a bachelor's degree in science
BS, SB

bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies
 degree in accounting from Roosevelt University. He has lectured at New York University's Advanced Taxes Study Group and at various tax seminars and review courses. Drobny has authored a number of articles concerning taxation and accounting.

"Mr. Drobny brings to Cypress savvy and practical business expertise from his role as a director to multiple technology-based companies," said Jay D. Kranzler, M.D., Ph.D., chairman of the board and chief executive officer of Cypress. "His knowledge and input on financing companies for growth will be invaluable to us."

Cypress is focused on the development of novel therapeutic agents for the treatment of rheumatologic and blood platelet disorders. In January 2001, the company began a strategic initiative into the treatment of fibromyalgia syndrome ("FMS FMS - Flexible Manufacturing System (factory automation). "). The formation of the research collaboration with Georgetown University Medical School in April 2001 was an important early step in the process.

FMS is estimated to affect 2-4 percent of the population and is the second most commonly diagnosed rheumatological disorder after osteoarthritis. Current treatment options are limited as there are no drugs specifically approved by the U.S. Food and Drug Administration for the treatment of FMS. The symptoms of FMS are severely debilitating de·bil·i·tat·ing
adj.
Causing a loss of strength or energy.


Debilitating
Weakening, or reducing the strength of.

Mentioned in: Stress Reduction
 and are characterized by chronic and widespread pain and stiffness throughout the body accompanied by severe fatigue, poor sleep and headache. Patients with FMS have at least comparable disability, more pain and lower quality of life than patients with rheumatoid arthritis or osteoarthritis.

About Cypress Bioscience Inc.

Cypress is engaged in the development of novel therapeutic agents for the treatment of rheumatologic and blood platelet disorders. In addition, to its FMS program, Cypress is the developer of the PROSORBA(R) column, an approved therapeutic medical device which is used for treatment of rheumatoid arthritis and idiopathic thrombocytopenic purpura Idiopathic Thrombocytopenic Purpura Definition

Idiopathic thrombocytopenic purpura, or ITP, is a bleeding disorder caused by an abnormally low level of platelets in the patient's blood.
 ("ITP ITP - Intent to Package "). Fresenius HemoCare Inc. is solely responsible for on-going clinical trials, regulatory support, sales and marketing of the PROSORBA column. Cypress is collaborating with the Sanquin Blood Supply Foundation, CLB CLB Club
CLB Columbus Blue Jackets (NHL hockey)
CLB Combat Logistics Battalion (US Marine Corps)
CLB Configurable Logic Block (microchip technology) 
 Division, formerly known as the Dutch Red Cross Blood Transfusion Service on Cyplex(TM), a potential alternative to traditional platelet transfusions. For more information about Cypress, visit the company's Web site at www.cypressbio.com.

This press release, as well as Cypress' SEC filings and Web site at http://www.cypressbio.com, contain 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. Actual results could vary materially from those described as a result of a number of factors, including those set forth in Cypress Annual Report on Form 10-K and any subsequent SEC filings. In addition, there is the risk that Cypress may not be able to successfully develop or market any products for the treatment for FMS; or that Cypress and the CLB will not be able to successfully develop, improve the manufacturing of, or receive regulatory clearance for Cyplex on a timely basis, or at all; or that even if approved, that Cyplex will become a significant product within the blood products markets; and that Fresenius HemoCare may not successfully market the PROSORBA column. Cypress undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jun 28, 2001
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