TARRYTOWN, N.Y., Aug. 29 /PRNewswire-FirstCall/ -- Emisphere
Technologies, Inc. (Nasdaq: EMIS) today announced that Michael R. Garone
has been appointed to the position of Chief Financial Officer (CFO). Mr.
Garone previously held the role of CFO and Interim Chief Executive Officer
of Astralis, Ltd., a biotechnology company. Mr. Garone will report directly
to Michael V. Novinski, President and Chief Executive Officer. Emisphere
Technologies, Inc. is a biopharmaceutical company that focuses on a unique
and improved delivery of therapeutic molecules and pharmaceutical compounds
using its eligen(R) technology.
"Mr. Garone has over 25 years of highly successful experience as both
CFO and CEO, with superior financial skills that promise success for
Emisphere," said Mr. Novinski. "His experience with business planning and
turn-around, cost control and customer care are among the many skills that
he brings to the Company. We are very excited to have him on our senior
management team."
At Astralis, Mr. Garone implemented a plan to keep the drug development
program on track, and created a system of controls to meet the Sarbanes
Oxley Act of 2007, Section 404 compliance objectives. He also worked
closely with the United States Securities and Exchange Commission (SEC) and
managed assets and investor relations.
Prior to that, Mr. Garone spent two decades at AT&T, where he held a
variety of positions, including CFO of AT&T Alascom. While at AT&T Alascom,
Mr. Garone managed the acquisition and engineered the business turn-around
of Alaska's largest telecommunications company, while providing strategic
planning for sales, marketing and product development.
"Joining the team at Emisphere is a terrific opportunity. It is a
company that has sound science that will impact directly on patient lives,"
said Mr. Garone. "I am eager to play my part in the growth and success of
the Company."
Mr. Garone received his MBA from Columbia University, and is a member
of Beta Gamma Sigma. He received his BA in Mathematics from Colgate
University, Hamilton, NY.
Emisphere's broad-based drug delivery technology platform, known as the
eligen(R) technology, is based on the use of proprietary, synthetic
chemical compounds, known as Emisphere(R) delivery agents, or "carriers."
Emisphere's eligen(R) technology makes it possible to deliver a therapeutic
molecule without altering its chemical form or biological integrity.
About Emisphere Technologies, Inc.
Emisphere Technologies, Inc. is a biopharmaceutical company that
focuses on a unique and improved delivery of therapeutic molecules and
pharmaceutical compounds using its eligen(R) technology. These molecules
and compounds could be currently available or are in pre-clinical or
clinical development. Such molecules or compounds usually cannot be
delivered by the oral route of administration or the benefits of these
compounds are limited due to poor bioavailability, slow on-set of action or
variable absorption. The eligen(R) technology can be applied to the oral
route of administration as well other delivery pathways, such as buccal,
per rectum, pulmonary, intra-vaginal or transdermal. The Web site is:
http://www.emisphere.com.
Safe Harbor Statement Regarding Forward-Looking Statements
The statements in this release and oral statements made by
representatives of Emisphere relating to matters that are not historical
facts (including without limitation those regarding future performance or
financial results, the timing or potential outcomes of research
collaborations or clinical trials, any market that might develop for any of
Emisphere's product candidates and the sufficiency of Emisphere's cash and
other capital resources) are forward-looking statements that involve risks
and uncertainties, including, but not limited to, the likelihood that
actual performance or results could materially differ, that future research
will prove successful, the likelihood that any product in the research
pipeline will receive regulatory approval in the United States or abroad,
the ability of Emisphere and/or its partners to develop, manufacture and
commercialize products using Emisphere's drug delivery technology, or
Emisphere's ability to fund such efforts with or without partners.
Emisphere undertakes no obligation to update any of these statements.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as to the date hereof. Accordingly any
forward-looking statements should be read in conjunction with the
additional risks and uncertainties detailed in Emisphere's filings with the
Securities and Exchange Commission, including those factors discussed under
the caption "Risk Factors" in Emisphere's Annual Report on Form 10-K (file
no. 000-17758) filed on March 6, 2007, and our Quarterly Report on Form
10-Q for the quarter ended March 31, 2007, filed on May 7, 2007 (file no.
000-17758), end for the quarter ended June 30, 2007, filed on August 7,
2007.
SOURCE Emisphere Technologies, Inc.
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Related links:
http://www.emisphere.com
CONTACT:
Bob Madison, Corporate Communications of
Emisphere Technologies, Inc., +1-914-593-8360
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