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Cipher mourns passing of director Waldemar Zimmerman
Stock Exchange Symbol: DND MISSISSAUGA, ON, Sept. 10 /CNW/ - Cipher Pharmaceuticals Inc. (TSX: DND) solemnly announces the passing of Mr. Waldemar Zimmerman, Vice-Chairman and Lead Director of Cipher's Board of Directors. "It is with profound sadness that we announce the passing of Waldemar ("Wally") Zimmerman," said Dr. John Mull, Chairman of Cipher. "Wally had been a long serving member of our Board and was a valued contributor to the Company. His leadership, extensive business experience and corporate governance expertise have been invaluable to Cipher. We have lost a cherished and loyal friend and business colleague. On behalf of our Board, senior management and employees, I would like to extend our sincere condolences to Waldemar's family." Mr. Zimmerman has served on Cipher's Board since it became public in 2004. He was Chair of the Compensation Committee, and a member of the Nominating and Governance and Audit Committees. Mr. Zimmerman was the principal of Zimmerman Lawyers, Hamilton, Ontario. His areas of practice were concentrated in civil litigation and appellate advocacy including before the Supreme Court of Canada. Mr. Zimmerman also served as Chairman of CML HealthCare's Board of Directors and CML HealthCare Income Fund's Board of Trustees, as well as a director of a number of private corporations. He was a member of the Law Society of Upper Canada, Canadian Bar Association, the Hamilton Law Association, the Institute of Corporate Directors, the Canadian Club and former president of one of the major political parties in Ontario. Mr. Zimmerman received his B.A. from McMaster University in 1961 and his LL.B. from Osgoode Hall Law School in 1964. Mr. Zimmerman is survived by his wife, Rebeckah Zimmerman (nee Schnurr), his children Richard Zimmerman (Annette), Michelle Bourne (David) and Kelly Schnurr; his grandchildren Lauren, David-Dean, Robyn, Robert, Samantha and Brian. About Cipher Pharmaceuticals Inc. Cipher Pharmaceuticals is a drug development company focused on commercializing novel formulations of successful, currently marketed molecules using advanced drug delivery technologies. Cipher's strategy is to in-license products that incorporate proven drug delivery technologies and advance them through the clinical development and regulatory approval stages, after which the products are out-licensed to international partners. Because Cipher's products are based on proven technology platforms applied to currently marketed drugs, they are expected to have lower approval risk, shorter development timelines and significantly lower development costs. The Company's lead compound, CIP-FENOFIBRATE, received final approval from the U.S. Food and Drug Administration and Health Canada in the first quarter of 2006. Beginning in the fourth quarter of 2007, the product will be marketed in the United States by ProEthic Pharmaceuticals under the label Lipofen(TM). In addition, Cipher is developing formulations of the pain reliever tramadol and the acne treatment isotretinoin. Cipher is listed on the Toronto Stock Exchange under the symbol 'DND' and has approximately 24 million shares outstanding. For more information, please visit www.cipherpharma.com. Forward-Looking Statements Statements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words like "may", "will", "anticipate", "estimate", "expect", "intend", or "continue" or the negative thereof or similar variations. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include those identified in the Company's Annual Information Form and other filings with Canadian securities regulatory authorities, such as the applicability of patents and proprietary technology; possible patent litigation; regulatory approval of products in the Company's pipeline; changes in government regulation or regulatory approval processes; government and third-party payer reimbursement; dependence on strategic partnerships for product candidates and technologies, marketing and R&D services; meeting projected drug development timelines and goals; intensifying competition; rapid technological change in the pharmaceutical industry; anticipated future losses; the ability to access capital to fund R&D; and the ability to attract and retain key personnel. All forward-looking statements presented herein should be considered in conjunction with such filings. The Company does not undertake to update any forward-looking statements; such statements speak only as of the date made. %SEDAR: 00020415E
For further information:
For further information: Craig Armitage, Investor Relations, The Equicom Group, (416) 815-0700 ext 278, (416) 815-0080 fax, carmitage@equicomgroup.com; Larry Andrews, President and CEO, Cipher Pharmaceuticals, (905) 602-5840 ext 324, (905) 602-0628 fax, landrews@cipherpharma.com