Cypress Bioscience Names Sabrina Martucci Johnson Interim Chief Financial Officer.Business Editors & Health/Medical Writers SAN DIEGO--(BW HealthWire)--Feb. 8, 2002 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) today announced that the company's board of directors appointed Sabrina Martucci Johnson, vice president-marketing, as the interim chief financial officer. Johnson replaces Walters-Hoffert, who has resigned to pursue other opportunities. Johnson, age 35, was appointed vice president of sales and marketing of the company in October of 2000 and the vice president of marketing in March 2001. Johnson joined the company in August of 1998 and held various positions from 1998 through 2000, including product director and executive director of marketing and sales. Johnson previously held marketing and sales positions with Clonetics and Advanced Tissue Sciences from 1993 to 1998. Johnson has an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the American Graduate School of International Management (Thunderbird thunderbird In North American Indian mythology, a powerful spirit in the form of a bird that watered the earth and made vegetation grow. Lightning was believed to flash from its eyes or beak, and the beating of its wings was thought to represent rolling thunder. ) and a MS in biochemical engineering 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 . Johnson has most recently led the effort to establish the Cypress Bioscience's Fibromyalgia fibromyalgia Chronic syndrome that is characterized by musculoskeletal pain, often at multiple sites. The cause is unknown. A significant number of persons with fibromyalgia also have mental disorders, especially depression. (FMS FMS - Flexible Manufacturing System (factory automation). ) Patient and Physician Registries as well as the related Web site, www.FMSresource.com. These programs are designed to support the company's drug development efforts toward the treatment of FMS and related disorders. "We welcome the opportunity to build on Sabrina's accomplishments to date at Cypress, and to broaden her management role," stated Jay D. Kranzler MD, PhD, chairman of the board and chief executive officer. About Cypress Bioscience Inc. Cypress is committed to be the innovator and commercial leader in providing products that improve the diagnosis and treatment of patients with FMS. In January 2001, the company began a strategic initiative focusing on FMS. In August 2001, Cypress licensed its first product for clinical development, milnacipran, to treat the widespread pain associated with FMS. In January of 2002, the company's IND was opened to commence a Phase II clinical trial Noun 1. phase II clinical trial - a clinical trial on more persons than in phase I; intended to evaluate the efficacy of a treatment for the condition it is intended to treat; possible side effects are monitored phase II to treat FMS with milnacipran in the United States. For more information about Cypress, please visit the company's Web site at www.cypressbio.com. For more information about FMS, please visit www.FMSresource.com. This press release, as well as Cypress' SEC filings and Web site at http://www.cypressbio.com, contain forward-looking statements, including among others, statements regarding the company's continued listing of the company's securities on The Nasdaq SmallCap Market, 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 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. and any subsequent SEC filings. In addition, there is the risk that we may not be able to successfully develop or market any products for the treatment of FMS under the Pierre Fabre agreement or at all; that our clinical development plan or timeline for milnacipran may be delayed, including our plan to begin treating patients in a Phase II clinical trial in early 2002; that we may encounter regulatory or other difficulties in the development of milnacipran for FMS; and that milnacipran may not significantly improve the treatment of FMS. 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. |
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