San Diego, California and Vancouver, British Columbia, September 14, 2012 – Sophiris Bio Inc. (TSX: SHS) today announced that Alexander Casdin has resigned as the CFO of Sophiris Bio. “Alex has accomplished the goals established when he joined. He was a valuable member of our management team and has done an excellent job establishing the financial operations of Sophiris and positioning the company for success. Given his accomplishments and the company’s strong position, he now intends to pursue his future interests in the life science industry and we wish him well,” said Randall Woods, CEO of Sophiris Bio.
Sophiris is currently evaluating the structure of the Company’s finance department and in the interim Peter Slover, Head of Finance and Principal Accounting Officer, will assume Mr. Casdin’s duties. Mr. Slover was the Vice President, Finance and Operations at Anadys Pharmaceuticals, Inc. prior to joining Sophiris in April 2012. Mr. Casdin has made himself available to us should we need his counsel on pending matters.
For additional information and other publicly filed documents relating to Sophiris, please see the Company filings at www.sedar.com.
About Sophiris Bio
Sophiris Bio Inc. is a urology company developing a late-stage, highly targeted treatment for benign prostatic hyperplasia (BPH or enlarged prostate), an unsatisfied market with large potential demand. PRX302, the company’s lead candidate for BPH, is designed to be as efficacious as pharmaceuticals, less invasive than the surgical interventions, and without the sexual side effects seen with existing treatments. Sophiris is planning to begin a pivotal trial by the end of 2012. Sophiris is advised by world-leading urologists, backed by experienced investors, and led by a team that has achieved more than twenty drug approvals including several drugs with annual sales in excess of $1billion. For more information, please visit www.sophirisbio.com.
Certain statements included in this press release may be considered forward-looking, including statements about the potential for PRX302. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Sophiris Bio’s’ current beliefs as well as assumptions made by and information currently available to Sophiris Bio and relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties inherent in late stage drug development and risks relating to obtaining FDA and other regulatory approvals as well as risks identified by Sophiris Bio in its public securities filings; actual events may differ materially from current expectations. Sophiris Bio disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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