GREENWOOD VILLAGE, Colo., July 3, 2012 /PRNewswire/ -- Ampio Pharmaceuticals, Inc. (Nasdaq: AMPE), a biopharmaceutical company conducting clinical trials on its four lead drugs (Ampion™, Optina™, Zertane™ & Zertane-ED™) licensing distribution of these drugs and developing additional new drugs, announced today that Dr. David Bar-Or, Ampio's Founder, Chief Scientific Officer and largest shareholder, and Michael Macaluso, Ampio's CEO, Chairman and Lead Investor, have extended their July 15th 2012 lock-up agreement until January of 2013. This extended lockup encompasses more than two-thirds of the company's shares owned by executives, management and directors.
Mr. Macaluso noted, "We are excited and confident in the significant progress the company has made during the past 12 months. We are aware that sophisticated investors already know that Ampio management is precluded from selling or buying their Ampio shares due to the non-public information being created within a company engaging potential collaboration or distribution partners while managing multiple clinical trials and regulatory submissions. Nevertheless, both Dr. Bar-Or and I, being primarily responsible for funding the company and providing all of the science for its existing and pipeline products, want to make it crystal clear to our shareholders of our dedication to Ampio, our belief in the future of Ampio, our faith in its products and pipeline and our solemn fiduciary responsibility to our shareholders."
Mr. Macaluso continued, "As for the DMI shareholders who obtained Ampio stock when the company was acquired by Ampio, a large percentage did not extend their lock-up in beyond December 31, 2011 and were free to sel
|SOURCE Ampio Pharmaceuticals, Inc.|
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