Advanced Polymer Systems Announces Key Management Changes
John Barr Appointed Vice President of Research and Development
REDWOOD CITY, CA, August 2, 2000 – Advanced Polymer Systems (NASDAQ: APOS), a leader in polymer-based delivery systems and related technologies, today announced that it has appointed Gordon Sangster to chief financial officer and John Barr to post of vice president of research and development. Sangster and Barr will report directly to Michael P.J. O'Connell, who, as previously announced, assumed the office of president and chief executive officer as of August 1, 2000.
Gordon Sangster, 47, has served as Advanced Polymer Systems' vice president of finance and controller since 1993. Prior to joining Advanced Polymer Systems, Mr. Sangster spent five years in a variety of corporate and international financial roles for Raychem, Inc. Earlier, Mr. Sangster held financial positions at The Cooper Companies and at Coopervision, where he was International Controller. He also worked for Levi Strauss in Europe and in audit, accounting and consulting roles for Finnie, Ross (Chartered Accountants) in the United Kingdom. Mr. Sangster is a member of the Institute of Chartered Accountants of England and Wales.
John Barr, 40, has served as Director of Pharmaceutical Sciences for Advanced Polymer Systems since he joined the company in 1997. In this time he has played a key role in evaluating and developing the potential of the company's novel delivery systems. Prior to joining Advanced Polymer Systems, Dr. Barr worked as the Director of Biopharmaceutics for Cortech, Inc, a Denver based biotech firm focused on the development of novel anti-inflammatory agents. In that capacity he was involved with both the research and development aspects of the company's intravenous and oral programs. Dr. Barr received his Ph.D in pharmacology from the University of Glasgow in Scotland, after which he pursued post-doctoral studies at the University of Arizona.
Commenting on the appointments, O'Connell said, “These are well-deserved promotions for both Gordon and John. I have worked closely with both of them for a number of years and I'm pleased to have them join the senior management ranks at Advanced Polymer Systems. We have a solid team, going forward, and they both will play pivotal roles.
“Our research effort has had success in expanding current technologies and developing dramatically new patented delivery technologies for a number of high potential, internal prescription drug areas. With the proceeds from the sale of the cosmeceutical product lines, Advanced Polymer Systems senior management and research teams are committed to growing the business by developing these technologies to commercialization and expanding our existing relationships with pharmaceutical partners. With Advanced Polymer Systems' innovative patented technologies, we are well-positioned for success, and I look forward to establishing Advanced Polymer Systems as a leader in its field.”
Advanced Polymer Systems
Advanced Polymer Systems is a leader in polymer-based delivery systems and related technologies with a broad proprietary and intellectual property platform. The technologies are used primarily in ethical pharmaceuticals. New products and technologies under development include Microsponge® for topical and oral applications and bioerodible polymers for oral or implantable drug delivery.
Except for historical information, this news release contains certain forward-looking statements that involve risks and uncertainties, including among others, uncertainty associated with timely approval, launch and acceptance of new products, establishment of new corporate alliances and progress in research and development programs. Other risks and uncertainties associated with the Company's business and prospects are identified in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to revise these forward-looking statements to reflect events or circumstances occurring in the future.
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