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Osprey Pharmaceuticals Names Jack M. Anthony as CEO
Date:9/26/2007

Co-Founder Phil Coggins to Continue as President and CSO

MONTREAL and SAN FRANCISCO, Sept. 26 /PRNewswire/ -- Osprey Pharmaceuticals, Ltd., a privately held biotechnology company developing first-in-class Leukocyte Population Modulators (LPMs) for serious, chronic diseases, announced today the appointment of Jack M. Anthony to Chief Executive Officer. Dr. Philip Coggins, who previously held the position of CEO will continue as President and assume the new role of Chief Scientific Officer. Mr. Anthony will be based in San Francisco, where Osprey has located most administrative functions, while concentrating its laboratory and R&D operations in Montreal, Canada.

"I am pleased to announce that Jack will take the helm of Osprey Pharmaceuticals and assume additional responsibilities as CEO," said Philip Coggins, President and co-founder of Osprey. "Looking at the powerhouse of talent assembled at Osprey, this transition is a 'no-brainer,' and as a neurochemist I'm qualified to say that. With Jack as CEO and with the recent addition of Dr. Barbara Finck as Chief Medical Officer, we have the key individuals in place to take Osprey to the next level."

"These changes will best leverage the extensive experience and track record of the senior management team at Osprey," said Janice LeCocq, Chairman of the Board. "This time next year we expect to have the first clinical proof of concept of our LPMs in the treatment of renal disease (glomerulonephritis, or GN). By validating a new treatment modality, we expect to open up a broad array of other clinical targets, building towards clinical and commercial success."

Mr. Anthony began his career in healthcare with Baxter Healthcare and served the company for over 16 years, rising through the ranks to become Vice President in the Blood Therapy Group. In the 20 years since Baxter, he has held various senior executive positions in a number of biotechnology companies including Applied Immune Sciences
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SOURCE Osprey Pharmaceuticals, Ltd.
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