SAN DIEGO – November 12, 2007 – Verus Pharmaceuticals, Inc., a pediatric-oriented specialty pharmaceutical company, announced today that Robert W. Keith has been promoted to President & Chief Executive Officer. Prior to the promotion, Mr. Keith served as President & Chief Operating Officer. As a result of the promotion, Cam L. Garner now will serve exclusively as Executive Chairman.
“We are excited to announce this well-deserved promotion,” said Cam L. Garner. “As a co-founder of Verus, Bob has played a critical role in the development and evolution of the company from day one to the present, including our recently announced transaction with AstraZeneca.”
“I am honored to take the reins from Cam at this point in time and lead the company forward as we continue to build value in our commercial franchise and accelerate our efforts on our emerging development programs,” said Robert W. Keith.
The composition of the Board of Directors will not change with the promotion of Mr. Keith. In addition to Mr. Garner and Mr. Keith, the other current members include James C. Blair, Alex E. Barkas, Jean-Pierre Naegeli, Nicholas J. Simon, David F. Hale, and Erle T. Mast.
About Verus
Verus Pharmaceuticals is dedicated to improving the lives of children and those who care for them. Verus is building a portfolio of products for the unmet medical needs of children through acquisitions and alliances, with an initial focus on the treatment of asthma, allergies, and related diseases and conditions. Verus is differentiated by its pediatric orientation and its strong financial position and experienced management team, which allows the company to capitalize on an extensive network to build its product portfolio and pursue complementary transactions. The company’s rigorous, disciplined approach to strategic decision-making and core competencies in development and commercialization is expected to provide significant value to its partners. More information about Verus is available on the company’s corporate website at www.veruspharm.com.
Verus® is a registered trademark of Verus Pharmaceuticals, Inc.
Forward-Looking Statements
Verus Pharmaceuticals cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Verus that any of its plans will be achieved. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in Verus’ business including, without limitation, statements about: its ability to identify appropriate acquisition, licensing, or co-development and/or promotion candidates in the future or be able to take advantage of the opportunities it identifies; difficulties or delays in developing, obtaining regulatory approval, manufacturing and commercializing its products; unexpected performance or side effects of its products that could delay or prevent development or commercialization, or that could result in recalls or product liability claims; the scope and validity of patent protection for its products; competition from other pharmaceutical companies; and its ability to obtain additional financing to support its operations. All forward-looking statements are qualified in their entirety by this cautionary statement and Verus undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
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