November 18, 1999
PALADIN LABS INC. HIRES DR. KATIA BETITO AS ITS NEW EXECUTIVE DIRECTOR OF SCIENTIFIC AFFAIRS
Montreal, PQ- November 18, 1999 - Paladin Labs Inc. ("Paladin") (VSE:PLB) is pleased to announce the appointment of Katia Betito, Ph.D. to the position of Executive Director Scientific Affairs. In addition, Paladin has agreed to issue 2,500 options to Dr. Betito at the average closing price of Paladin for the previous 5 days.
Dr. Betito has extensive Canadian regulatory experience having led the regulatory affairs department at a major Canadian pharmaceutical manufacturer and distributor. Dr. Betito holds a doctorate degree in pharmacology from McGill University.
In her new role, Dr. Betito will champion Paladin's efforts to bring its eight products in Phase III development to market in Canada. In addition, Dr. Betito will assist in the evaluation of new business development opportunities.
Jonathan Goodman, President of Paladin stated, "Dr. Betito adds extensive scientific expertise to our management team. She has a demonstrated ability to complete complex regulatory assignments on time and within tight budget constraints. With eight products in Phase III trials, we needed to add someone of Dr. Betito's experience to push these products from the clinic into the market. With the addition of Dr. Betito, our management team is now running on all cylinders."
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.
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Paladin Labs Inc.