Chemaphor Inc. (TSXV:CFR)
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OTTAWA, Oct 1 /CNW/ --
Listing: TSX Venture ExchangeSymbol: CFR
OTTAWA, Oct 1 /CNW/ - Chemaphor Inc. (TSX Venture: CFR) today announced
that it will rename its wholly owned subsidiary, 7552882 Canada Inc.,
"Avivagen Animal Health Inc." to focus on the commercialization of
Chemaphor's companion animal health products, including the recently
in-licensed Vet-Stem stem cell treatment and Chemaphor's own Oximunol™
Chewables for dogs. Chemaphor is now in the final stages of planning the
launch of the first product entries into the companion animal
marketplace, currently expected to occur later this fall.
This announcement officially marks the transition of Chemaphor's focus
from that of a late-stage R&D operation into a commercial enterprise. In
keeping with the progress of Chemaphor from an R&D-focused company into
one emphasizing sales and revenue generation, Chemaphor is also
announcing certain senior management changes.
Mr. David Hankinson, currently Co-Chairman of the Chemaphor board of
directors, is vacating that role to become the CEO of both Avivagen and
Chemaphor. David Hankinson brings extensive marketing and sales
experience gained in the pharmaceutical sector and has successfully
managed several start-up companies. Notably, he successfully built
Solvay Pharma (Canada) into a profitable company with major sales.
Mr. Hankinson replaces current Chemaphor CEO, Dr. Paul Dick, who will
also step down as a member of the Chemaphor board of directors. Dr. Dick
joined Chemaphor two years ago with a mandate to guide the company from
a late stage research and development focus to commercialization. With
the successful completion of that goal, Dr. Dick is expected to remain
associated with Chemaphor as an advisor while he engages in other,
independent consulting opportunities and assignments.
Mr. Amin Khalifa, currently Co-Chairman of the board, takes over as
Chairman. Mr. Khalifa has been on the board of directors of PetSmart
Inc. for approximately six years. He also brings significant commercial
and financial experience from his past tenure as CFO for three US listed
companies; Beckman Coulter, Apria Healthcare and Leap Wireless.
Mr. Khalifa commented; "I want to wish Paul Dick all the best in his
future endeavors. He has been instrumental in helping Chemaphor develop
its products and in building strong relationships with both our
commercial and research partners. Chemaphor's focus now will be on
taking to market products of Chemaphor research and acquired products,
targeting both animal and human wellness."
The board of directors of Chemaphor wishes to thank Dr. Dick for his
vision and guidance during the transition of Chemaphor into a commercial
enterprise.
About Chemaphor
Chemaphor, a wellness company, is committed to developing and delivering
products to humans and animals to assist in optimizing health and daily
quality of life. From this platform Chemaphor is advancing product
candidates for the food animal market, companion animal market and
various, potential human applications. More information can be found at www.chemaphor.com
Forward Looking StatementsThis news release includes
certain forward-looking statements that are based upon current
expectations, which involve risks and uncertainties associated with
Chemaphor's business and the environment in which the business operates.
Any statements contained herein that are not statements of historical
facts may be deemed to be forward-looking, including those identified by
the expressions "anticipate", "believe", "plan", "estimate", "expect",
"intend", and similar expressions to the extent they relate to Chemaphor
or its management. The forward-looking statements are not historical
facts, but reflect Chemaphor's current expectations regarding future
results or events. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results or
events to differ materially from current expectations. Chemaphor assumes
no obligation to update the forward-looking statements, or to update the
reasons why actual results could differ from those reflected in the
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
table valign="top" border="0"trtd valign="top" align="left"bChemaphor Inc.br//bGraham Burtonbr/613-990-0969br/a href="mailto:g.burton@chemaphor.com"g.burton@chemaphor.combr/br//a/td td align="right" /td td align="right" /td td valign="top" align="left"bInvestor Relations br//bSylvain Archambault br/President br/Evolution Group Inc.br/Tel.: 1-866-703-4887 br/a href="mailto:s.archambault@evolutiongrp.com"s.archambault@evolutiongrp.combr//a/td/tr/table