NEWS RELEASE for October 2, 2003
at 7:35 AM EDT
Contact: Allen & Caron Inc CLOSURE
Medical Corp
Joe Allen (investors) Len Hall (media) Benny Ward, CFO
(212) 691-8087 (949)
474-4300 (919) 876-7800
joe@allencaron.com len@allencaron.com
STEPHEN I. SHAPIRO JOINS BOARD OF
CLOSURE MEDICAL CORPORATION
RALEIGH, NC (October 2, 2003) …
CLOSURE Medical Corporation (Nasdaq:CLSR), a global leader in medical
adhesives, announced today that it has expanded the Board of Directors with the
appointment of Stephen I. Shapiro.
Shapiro, 58, has over 25 years of experience in the healthcare industry,
especially in medical devices.
Currently,
Shapiro serves as a technology partner at Advanced Technology Ventures and an
advisor at Galen Associates. From 1982-1999,
Shapiro was a Managing Director of The Wilkerson Group, a leading management
consultancy to pharmaceutical, medical device and diagnostic companies. Mr. Shapiro was one of four directors that
grew the company from 10 to 100 consultants prior to its acquisition by IBM in
1996. Prior to 1982, Shapiro held a
variety of technical management and strategic planning positions with Becton
Dickinson and Company and Union Carbide Clinical Diagnostics. Shapiro currently serves on the
Board of Directors of Novoste Corporation, a NASDAQ listed company, which is
the worldwide leader in vascular brachytherapy.
“We are
extremely pleased to have Steve join our Board of Directors. His vast experience, leadership and
strategic management skills within the medical device and healthcare industries
provide significant value to the Company.
I am very pleased to welcome him as a member and look
forward to having Steve as an additional resource,” said Daniel A. Pelak,
President and Chief Executive Officer.
Shapiro
holds a B.S. in Chemical Engineering from the Massachusetts Institute of
Technology and an M.S. in Chemical Engineering from the University of
California at Berkeley.
“I am
excited to join an organization with such growth and tremendous opportunity as
Closure Medical. The Company has a
proven technology platform and products and I look forward to being a part of
its future success as it continues to expand its portfolio and overall
business,” said Shapiro.
About CLOSURE Medical Corporation
CLOSURE Medical Corporation is a
global leader in the development, manufacture, and commercialization of medical
adhesives based on its proprietary medical grade cyanoacrylate technology.
CLOSURE's proprietary technology has customized the physical and chemical
properties of cyanoacrylates to develop medical adhesive formulations to close
and seal topical skin wounds and incisions.
For additional information on CLOSURE Medical visit its website at www.closuremed.com or visit the "Clients" section of the Allen & Caron website at www.allencaron.com.
This release contains certain
forward-looking statements which involve known and unknown risks, delays,
uncertainties or other factors not under the Company's control which may cause
actual results, performance or achievements of the Company to be materially
different from the results, performance, or other expectations implied by these
forward-looking statements. These factors include, but are not limited to the
early stage of commercialization of the Company’s products; the progress of its
research and development programs for future products; the need for regulatory
approval and effects of governmental regulation; technological uncertainties;
the satisfactory conclusion of negotiations with, and dependence on marketing
partners, and dependence on patents and trade secrets, as well as those
detailed in the Company's Annual Report on Form 10-K for the year ended
December 31, 2002, filed with the Securities and Exchange Commission. Although
the Company believes that the expectations in the forward-looking statements
are reasonable, the Company cannot guarantee such results. The Company
undertakes no obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date hereof.
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