|Kenneth B. Lee, Jr. Appointed to POZEN'S Board of Directors|
CHAPEL HILL, N.C.--(BUSINESS WIRE)--Dec. 5, 2002--POZEN Inc. (Nasdaq: POZN) announced today the appointment of Kenneth B. Lee, Jr. to its board of directors.
Mr. Lee will also serve on the audit committee of the board of directors.
"We're excited to have someone of Ken Lee's stature join our board. For several decades he has helped many biotechnology and pharmaceutical companies with partnerships, financings, and other corporate activities that have substantially increased shareholder value. He'll be a great board member to help POZEN continue to make progress and grow our business," said John R. Plachetka, Pharm.D., chairman, president and chief executive officer of POZEN.
Mr. Lee is a co-founder of the National Conference on Biotechnology Venture and serves as a director of CV Therapeutics and as a special advisor to A.M. Pappas and Associates. Mr. Lee was with Ernst and Young for 29 years where he advised biotechnology and pharmaceutical companies throughout the world on a wide range of financial and strategic planning issues. He most recently served as managing director of the firm's Health Sciences Corporate Finance Group. Mr. Lee received a bachelor of arts degree from Lenoir-Rhyne College and an MBA from the University of North Carolina at Chapel Hill.
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 September 30, 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