October 22, 1999
PALADIN LABS INC. ISSUES OPTIONS TO THOMAS WIGGANS
Paladin Labs Inc. ("Paladin") is pleased to announce that it has issued 5,000 share purchase options to Thomas Wiggans, a new member of Paladin's Board of Directors. This granting of options is consistent with Paladin's strategy of attracting and retaining directors, officers, and employees and in motivating them to advance Paladin's corporate success.
Mr. Wiggans is currently the President and CEO of Connetics Corporation, a publicly traded US-based biotechnology firm. Previously, he was President of Serono Laboratories Inc. During his career he has raised over $175 MM through R& D limited partnerships and equity financing, and managed 6 new product approvals. An active industry advocate, he is the former President of the Association of American Biotechnology Companies, and is currently on the Board of the Biotechnology Industry Organisation (BIO), as well as Chair of the Emerging Company section of BIO.
Jonathan Goodman, President of Paladin stated, "We are pleased to have Mr. Wiggans join our Board as another independent director. His proven skills in pharmaceutical marketing and sales coupled with his strong pharmaceutical network will be of tremendous value to Paladin as we execute our emerging speciality pharmaceutical strategy. With the addition of Mr. Wiggans, our board now consists of a majority of independent Directors, which we believe to be in the best interest of all shareholders."
Paladin Labs Inc. is a public company whose shares trade on the Vancouver Stock Exchange under the symbol PLB.
About Paladin Labs Inc.
Paladin Labs, headquartered in Montreal, Quebec is a Canadian developer, marketer and distributor of innovative pharmaceuticals, currently offering products in urology, dermatology, rheumatology and other specialty markets. For more information about Paladin, please visit the Paladin Web Site at www.paladin-labs.com or send e-mail to ir@paladin-labs.com.
This news release may contain forward-looking statements or predictions. These statements represent our judgement as of this date and are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed in such forward-looking statements Potential risks and uncertainties include, without limitation, those associated with product development, clinical trials, future revenues and profitability, and obtaining marketing approval. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in the projections or forward-looking statements.
PALADIN LABS INC.
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements or predictions. These statements represent our judgement as of this date and are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed in such forward-looking statements. Potential risks and uncertainties include, without limitation, those associated with product development, clinical trials, future revenues and profitability, and obtaining marketing approval.
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Paladin Labs Inc.