FOR IMMEDIATE RELEASE
BioStratum Names Glenn C. Andrews Executive
VP and CFO
Research Triangle Park, N.C. -- August 9, 2000 -- BioStratum Incorporated
has announced the appointment
of Glenn C. Andrews as Executive Vice President of Finance and Administration
and Chief Financial Officer.
Andrews joins BioStratum with an extensive background
in financial management and business planning in
the pharmaceutical industry that includes senior level
positions with Medco Research, Inc. (acquired
by King Pharmaceuticals earlier this year), and
Burroughs Wellcome (now Glaxo Wellcome).
"Glenn has precisely the right background and
expertise to help BioStratum move to the next level",
said Dr. Claus Kühl, President and CEO of BioStratum. "His experience
in financial management and strategic planning will play a key role in
helping us achieve our strategic objectives as we position BioStratum
a publicly-traded company," Dr. Kühl added.
In his most recent position at Medco Research as Executive Vice President,
Finance and Administration, Chief Financial Officer and Treasurer, Andrews
played a key role in refocusing the company's strategic direction
and drug development activities. Medco Research was selected as the sixteenth
best small company in America by Business Week magazine in May of 1999.
Prior to that, while with Burroughs Wellcome, he was Treasurer and Director
of Business Analysis and Planning and served in a number of other senior
level financial positions.
BioStratum Incorporated is the world leader in basal lamina research.
The basal lamina is a thin membrane that separates and directs the function
of cells and tissues throughout the body, serving as the body's "biological
operating system." More than two decades of research have uncovered the
basal lamina's central role in degenerative diseases for which effective
not available. The company's lead drug candidate, Pyridorin™, is currently
advancing through clinical trials
for diabetic kidney disease. Angiocol™, its proprietary
anti-angiogenesis agent, dramatically inhibits the growth
of tumors in animal studies, and will soon begin clinical trials. Novel
therapeutic targets have also been identified
for autoimmune and kidney diseases.
In its latest round of private financing, the company raised $28 million
to fund clinical trials, expand in-house drug development capabilities,
and increase funding and staffing at its headquarters and its research
subsidiary in Stockholm, Sweden, BioStratum AB.
A fact sheet on the company is available from