LORUS
THERAPEUTICS ANNOUNCES ELECTION OF THREE NEW DIRECTORS
AND
APPOINTS A NEW CHAIRMAN
TORONTO,
Canada, September 19, 2007 - Lorus Therapeutics Inc. (TSX: LOR; AMEX:
LRP), a biopharmaceutical company specializing in the research and development
of pharmaceutical products and technologies for the management of cancer,
today
announced that Dr. Denis Burger, Ms. Susan Koppy and Dr. Mark Vincent were
elected to the Board of Directors of Lorus at the Annual General Meeting
on
September 19, 2007. Dr. Burger has been unanimously elected as the Chairman
of
the Board by the Board of the Directors.
Other
members returning to Lorus’ Board are Herbert
Abramson, Chairman and CEO of Trapeze Capital Corp.; J.
Kevin Buchi, EVP and CFO of Cephalon Inc.; Georg
Ludwig, Managing Director of ConPharm Anstalt; Alan A.
Steigrod, Managing Director of Newport Healthcare
Ventures; Dr. Jim A. Wright, CEO of NuQuest Bio Inc.; and Dr. Aiping Young,
President and CEO of Lorus Therapeutics Inc.
Denis
R. Burger
Dr.
Denis R. Burger has co-founded Trinity Biotech plc, based in Dublin, Ireland
in
June 1992 and acted as Chairman from 1992 to 1995 and now serves on the Board
of
Directors of the Company. Dr. Burger was the past Chairman, Chief Executive
Officer and a director of AVI Biopharma Inc, an Oregon based biotechnology
company. Dr. Burger is also a partner in Sovereign Ventures, a healthcare
consulting and funding firm based in Portland, Oregon. He was a co-founder
and,
from 1981 to 1990, Chairman of Epitope Inc. In addition, Dr. Burger has held
a
professorship in the Department of Microbiology and Immunology and Surgery
(Surgical Oncology) at the Oregon Health Sciences University in Portland.
Dr.
Burger received his Master of Science and PhD in Microbiology and Immunology
from the University of Arizona.
Susan
Koppy
Susan
Koppy is the senior vice president, business and corporate development of
Idenix
Pharmaceuticals since January 2006. Prior to joining Idenix, Ms. Koppy was
with
Applied Biosystems, Inc. as vice president of strategy and business development
from May 2004 to July 2005. Previously, from 2001-2004, Ms. Koppy served
as
director of business development for Novartis Pharmaceuticals AG focusing
on its
Infectious Diseases Franchise. Prior to that, since February 2000, Ms. Koppy
was
Novartis’ head of commercial and business intelligence.
Mark
Vincent
Dr.
Mark Vincent is the co-founder and Chief Executive Officer of Sarissa, Inc.
since 2000. Dr. Vincent has extensive experience as a consultant to Canadian
and
U.S. biotech and pharma companies. He served as a Director of Drug Royalty
Corporation and also sits as a member of Scientific Advisory Board for several
biotechnology companies. Dr. Vincent is an Associate Professor of Oncology
at
the University of Western Ontario and a staff medical oncologist at the London
Regional Cancer Program.
“On
behalf of the Board of Directors, I am delighted to welcome these three talented
and highly qualified individuals to our Board. They all bring to Lorus an
exceptional level of knowledge and experience in the pharmaceutical industry,
which will contribute to the advancement of our drug candidates”, commented Dr.
Aiping Young, President and CEO of Lorus. “The newly-appointed Directors will
provide expertise in areas of clinical development; facilitating investment
and
strategic partnering opportunities; and raising the profile of the Company
nationally and internationally. I look forward to the input of all of our
Board
members and working with them, to enhance shareholder value."
About
Lorus
Lorus
is a biopharmaceutical company focused on the research and development of
novel
therapeutics in cancer. Lorus’ goal is to capitalize on its research,
preclinical, clinical and regulatory expertise by developing new drug candidates
that can be used, either alone, or in combination with other drugs, to
successfully manage cancer. Through its own discovery efforts and an
acquisition and in-licensing program, Lorus is building a portfolio of promising
anticancer drugs. Lorus has completed one Phase II and one Phase III
clinical trial. Lorus Therapeutics Inc. is listed on the Toronto Stock Exchange
under the symbol LOR, and on the American Stock Exchange under the symbol
LRP.
Forward
looking statements
This
press release contains forward-looking statements within the meaning of Canadian
and U.S. securities laws. Such statements include, but are not limited to,
statements relating to: financings and corporate reorganizations, the
establishment of corporate alliances, the Company’s plans, objectives,
expectations and intentions and other statements including words such as
“continue”, “expect”, “intend”, “will”, “should”, “would”, “may”, and other
similar expressions. Such statements reflect our current views with
respect to future events and are subject to risks and uncertainties and are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable by us are inherently subject to significant business,
economic, competitive, political and social uncertainties and
contingencies. Many factors could cause our actual results,
performance, achievements or the transactions described in this press release
to
be materially different from any future results, performance, achievements
transactions described in this press release, if at all, that may be expressed
or implied by such forward-looking statements, including, among others: the
progress of negotiations; our ability to obtain regulatory, securityholder
and
other approvals; our ability to obtain the capital required for research
and
operations; the inherent risks in early stage drug development including
demonstrating efficacy; development time/cost and the regulatory approval
process; the progress of our clinical trials; our ability to find and enter
into
agreements with potential partners; our ability to attract and retain key
personnel; changing market conditions; and other risks detailed from
time-to-time in our ongoing quarterly filings, annual information forms,
annual
reports and annual filings with Canadian securities regulators and the United
States Securities and Exchange Commission.
Should
one or more of these risks or uncertainties materialize, or should the
assumptions set out in the section entitled “Risk Factors” in our filings with
Canadian securities regulators and the United States Securities and Exchange
Commission underlying those forward-looking statements prove incorrect, actual
results may vary materially from those described herein. These
forward-looking statements are made as of the date of this press release
and we
do not intend, and do not assume any obligation, to update these forward-looking
statements, except as required by law. We cannot assure you that such
statements will prove to be accurate as actual results and future events
could
differ materially from those anticipated in such
statements. Investors are cautioned that forward-looking statements
are not guarantees of future performance and accordingly investors are cautioned
not to put undue reliance on forward-looking statements due to the inherent
uncertainty therein.
Lorus
Therapeutics Inc.’s recent press releases are available through its website at
www.lorusthera.com.
Enquiries:
For
further information, please contact:
Lorus
Therapeutics Inc.
Dr.
Saeid Babaei, 1-416-798-1200 ext. 490
ir@lorusthera.com