|Paul Rizzo Appointed to POZEN'S Board of Directors|
CHAPEL HILL, N.C., Jul 31, 2002 (BW HealthWire) -- POZEN Inc. (Nasdaq: POZN) announced today that its board of directors appointed Paul Rizzo as a member of the board for a two-year term to expire in 2004. "Paul Rizzo is an outstanding businessman. As a senior executive and board member, he has helped grow and manage some of America's leading companies. I welcome him to our board and look forward to his input as POZEN continues its growth and development," said John R. Plachetka, Pharm.D., chairman, president and chief executive officer of POZEN.
Mr. Rizzo is chairman of the board and a partner at Franklin Street Partners, a North Carolina investment company, and serves on the board of directors of PPD, Cox Enterprises, and Maersk. He was formerly vice chairman of the board of directors and chief financial officer at IBM and more recently was the dean of Kenan-Flagler School of Business at the University of North Carolina at Chapel Hill. He previously served on the board of directors of such companies as Johnson & Johnson and Morgan Stanley.
POZEN is a pharmaceutical development company committed to building a portfolio of products with significant commercial potential in select therapeutic areas. POZEN's initial focus is on developing products for migraine therapy, a global market expected to exceed $2.8 billion this year. The company's common stock is traded on The Nasdaq Stock Market under the symbol "POZN."
Statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management's current expectations and are subject to a number of risks and uncertainties, including, but not limited to, our failure to successfully commercialize our products; costs and delays in the development and FDA approval of our products; our inability to enter into or maintain, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of our products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of our products to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events, including those discussed herein and in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2002 under "Management's Discussion and Analysis of Financial Condition and Results of Operations." We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.
POZEN is on the Internet at www.pozen.com.