SUNNYVALE, Calif., May 15 /PRNewswire-FirstCall/ --
Scios Inc. (Nasdaq: SCIO) today announced that R.J. Kirk, Managing Director of
Third Security LLC of Radford, VA, has resigned from the Company's Board of
Directors due to increasing demands on his time with respect to his broad
portfolio of investments.
Mr. Kirk, individually and through entities he controls, holds substantial
investments in the biotechnology, pharmaceutical and investment services
industries, in particular. He has informed the Company that he plans to
maintain a sizeable investment position in Scios.
"Scios is a very appealing company with what I believe to be highly
attractive growth potential," said Mr. Kirk. "Because of the tremendous
commercial success of Natrecor(R) to date and the exciting potential of its
lead pipeline product SCIO-469 aimed at the rheumatoid arthritis market, Scios
is emerging as a first-tier biotechnology company. I am very impressed with
the Company's business strategy and the quality of its management. Scios has
been creating substantial value for shareholders and I expect it to continue
to do so going forward."
Donald B. Rice, Chairman of Scios, said, "R.J. Kirk has been extremely
helpful to Scios. Following his appointment to the board two years ago, he
has provided thoughtful input to the Company's business strategy, and his
perspectives and advice have greatly benefited the Company and its
shareholders."
"R. J. has brought to the Scios Board both a clear sense of the voice of
the shareholders and a strong knowledge of the biopharmaceutical industry,"
added Richard B. Brewer, President and Chief Executive Officer of Scios. "We
look forward to maintaining our relationship with him as a large and important
shareholder in the Company and continuing to aggressively pursue the business
strategy he helped us to create."
Scios Inc.
Scios is a biopharmaceutical company developing novel treatments for
cardiovascular and inflammatory disease. The Company's disease-based
technology platform integrates expertise in protein biology with computational
and medicinal chemistry to identify novel targets and rationally design small
molecule compounds for large markets with unmet medical needs.
Forward-Looking Safe Harbor Statement
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. We generally identify such forward-looking statements
using words like "believe," "intend," "expect," "may," "should," "plan,"
"project," "contemplate," "anticipate" or similar statements. Statements
that are not historical facts are forward-looking statements based on current
assumptions that involve risks and uncertainties. These risks and
uncertainties may include the sales penetration and success of Natrecor, the
success of clinical trials of Natrecor and our pipeline products, including
SCIO-469 and inhibitors to TGF-beta, as well as other risks detailed from time
to time in the reports filed by Scios with the SEC, including the Company's
quarterly reports and annual report on Form 10-K. Actual results, performance
or achievements of Scios may differ significantly from those described in
these forward-looking statements. Scios disclaims any intention or obligation
to update or revise any financial projections or forward-looking statements,
whether as a result of new information, future events or otherwise.
SOURCE Scios, Inc.
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Related links:
http://www.sciosinc.com
CONTACT:
David Gryska of Scios Inc., +1-408-616 8303;
or Jim Weiss of WeissCom Partners, Inc., +1-415-203 0328, for
Scios, Inc.
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