FOR IMMEDIATE RELEASE
BIOSTRATUM ELECTS NEW BOARD MEMBERS
Research Triangle Park, NC, November 15, 2000- BioStratum Incorporated announced the appointment of two new members of BioStratum's Board on Tuesday, Chairman of the Nobel Prize Committee and Nobel Laureate, Bengt Samuelsson, M.D., Ph.D. and Helgi Kristbjarnarson, M.D., Ph.D.
Dr. Samuelsson was awarded the Nobel Prize in Physiology or Medicine in 1982 for his discovery of prostanoids and leukotrienes. He is a professor of Physiological Chemistry at the Karolinska Institute in Stockholm, Sweden.
Dr. Kristbjarnarson is chief executive officer of Flaga hf., a medical device company that develops and manufactures sleep disorder diagnostics. He received the 1999 Award for Entrepreneurship from the Federation of Icelandic Industries.
"A measure of the strength of a company is the caliber and diversity of its Board. Bengt Samuelson and Helgi Kristbjarnarson are excellent additions to BioStratum's Board of Directors and we welcome their knowledge and experience," said Dr. Claus Kuhl, president and chief executive officer of BioStratum.
Other members of the Board include: J. William Freytag, chairman of the Board of BioStratum Incorporated and president and chief executive officer of Myogen, Incorporated, Claus Kuhl, M.D., Ph.D., president and chief executive officer of BioStratum Incorporated, J. Wesley Fox, Ph.D. cofounder and executive vice president, research of BioStratum, Incorporated, Albert J. Montano, cofounder of BioStratum and president of Ventana Financial Resources, Bjorn Odlander, M.D.,Ph.D., president and a managing director of Odlander, Freidrikson & Co AB, and Peder Fredrikson, a managing director of Odlander, Freidrikson & Co AB.
BioStratum 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 tissue's "biological operating system". More than two decades of research have uncovered the basal lamina's central role in diseases for which effective treatments are not currently available.
The Company's lead drug candidate, Pyridorin™, is currently advancing through clinical trials for diabetic kidney disease. Angiocol™, its proprietary anti-angiogenesis drug candidate, dramatically inhibits the growth of tumors in animal models of cancer, and will begin clinical trials in 2001. Novel therapeutic targets have also been identified for autoimmune and kidney diseases.
In its most recent 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 subsidiary in Stockholm, Sweden, BioStratum AB.
Headquartered in Research Triangle Park, North Carolina, BioStratum's research and development operations are further expanded through corporate sponsored research programs. These programs are conducted with institutions that are centers of excellence in the basal lamina field, such as the Karolinska Institute in Stockholm, Sweden and the University of Kansas Medical Center, Kansas City, Kansas.