CAMBRIDGE, Mass., Sept. 6 /PRNewswire-FirstCall/ -- Biopure Corporation
(Nasdaq: BPUR) announced today that company co-founder Carl W. Rausch has
resigned from the board of directors and as chief technology officer,
effective immediately. The board now consists of six independent directors
and Biopure President and Chief Executive Officer Zafiris G. Zafirelis.
"Carl has been a pioneer in the field of oxygen therapeutics," said
Biopure Chairman Dr. Charles A. Sanders. "We're grateful for his leadership
and contributions to the company during the past 21 years."
Rausch served as chairman of the board and chief executive officer of
Biopure from the company's founding in 1984 until mid 2002 when he became vice
chairman and chief technology officer. During his tenure, Biopure developed
patented purification and molecular cross-linking techniques that are core to
the company's proprietary manufacturing technology and obtained U.S.
regulatory approval of Oxyglobin(R) for veterinary use and South Africa
regulatory approval of Hemopure(R) for human use. Rausch brought the company
public in 1999 after 15 years of private, venture and corporate funding.
"I continue to support Biopure and believe it is only a matter of time
before oxygen therapeutics make a major contribution to medical science," said
Rausch. For the next few months, Rausch will be available to Biopure in a
consulting capacity as technical activities associated with the former CTO
position transition to the company's scientific and engineering staff.
Biopure Corporation develops and manufactures intravenously administered
pharmaceuticals, called oxygen therapeutics, that deliver oxygen to the body's
tissues. The company is developing Hemopure(R) [hemoglobin glutamer - 250
(bovine)], or HBOC-201, for a potential indication in cardiovascular ischemia
and, in collaboration with the U.S. Naval Medical Research Center, for an out-
of-hospital trauma indication. The product is approved in South Africa for
treating surgery patients who are acutely anemic and for eliminating, delaying
or reducing allogeneic red blood cell transfusions in these patients. Hemopure
has not been approved for sale in any other jurisdictions, including the
United States or the European Union. Biopure's veterinary product
Oxyglobin(R) [hemoglobin glutamer - 200 (bovine)], or HBOC-301, the only
oxygen therapeutic approved by the U.S. Food and Drug Administration and the
European Commission, is indicated for the treatment of anemia in dogs.
Statements in this press release that are not strictly historical may be
forward-looking statements. Actual results may differ materially from those
projected in these forward-looking statements due to risks and uncertainties
regarding the company's operations and business environment. These risks
include, without limitation, uncertainties regarding the company's ability to
be able to begin clinical trials when anticipated (if ever), the outcome of
any clinical trials of Hemopure, cash requirements, unexpected costs and
expenses, insurance coverage, and possible delays and unforeseen costs related
to clinical trials, regulatory approvals and marketing and distribution of the
company's products. The company undertakes no obligation to release publicly
the results of any revisions to these forward- looking statements to reflect
events or circumstances arising after the date hereof. A full discussion of
the company's operations and financial condition, and specific factors that
could cause the company's actual performance to differ from current
expectations, can be found in the company's filings with the U.S. Securities
and Exchange Commission, including the Form 10-Q filed on June 9, 2005, which
can be accessed in the EDGAR database at the SEC Web site, http://www.sec.gov,
or through the Investor Relations section of Biopure's website,
http://www.biopure.com. The content of this press release does not
necessarily reflect the position or the policy of the U.S. Government or the
Department of Defense, and no official endorsement should be inferred.
SOURCE Biopure Corporation
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Related links:
http://www.biopure.com
Company News On-Call:
http://www.prnewswire.com/comp/131224.html
CONTACT:
Douglas Sayles of Biopure Corporation,
617-234-6826, or IR@biopure.com
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