BOTHELL, Wash., Jan. 7 /PRNewswire-FirstCall/ -- Nastech Pharmaceutical
Company Inc. (Nasdaq: NSTK) announced the appointment of Bruce R. York to the
position of Secretary and interim Chief Financial Officer, effective January
4, 2008. Mr. York will replace Philip C. Ranker, who resigned as Chief
Financial Officer and Secretary of Nastech effective January 4, 2008.
Mr. York has held senior financial positions at a number of biotechnology
and technology companies during his nearly thirty year career. In September
2005, he was appointed Senior Director - Finance, Chief Accounting Officer and
Assistant Secretary of Nastech. In August 2004, he was appointed Director,
Accounting and Corporate Controller of Nastech. Mr. York also currently
serves as the Chief Financial Officer and Secretary of MDRNA, Inc., a wholly-
owned subsidiary of Nastech. From 1999 to 2004 he was Vice President, Chief
Financial Officer and Corporate Secretary of Cellular Technical Services
Company, Inc. From to 1998 to 1999 he was Director of Finance at Cell
Therapeutics, Inc. From 1987 to 1998 Mr. York held a number of positions at
Physio Control International Corporation (now Medtronic Physio-Control). He
began his career at Price Waterhouse (now PricewaterhouseCoopers LLP) in 1978.
Mr. York, a certified public accountant, is a director of the Northwest
Association of Biotech Finance Officers. Mr. York holds a B.A., cum laude,
from Dartmouth College and an M.B.A. from the Amos Tuck School of Business at
Dartmouth.
"Bruce has an impressive track record, and broad experience with several
public companies that will be valuable to Nastech as we enter an important
period in our Company's evolution," stated Gordon Brandt, M.D., President of
Nastech. "We all wish Phil Ranker well in his future endeavors, and thank him
for his work while at Nastech."
"We are proud of Bruce's development and growth while at Nastech. The
entire executive team and staff look forward to working with him towards
achieving Nastech's goals," said Steven C. Quay, M.D., Ph.D., Chairman and
Chief Executive Officer of Nastech. "Nastech has begun a search for a
permanent Chief Financial Officer. In due course, it is planned that Bruce
will move over to MDRNA as its Chief Financial Officer, as MDRNA continues its
evolution towards becoming an independent company focused on developing RNA-
based technologies and therapeutics."
About Nastech
Nastech is a biopharmaceutical company developing innovative products
based on proprietary molecular biology-based drug delivery technologies.
Nastech is creating technologies that enable the delivery of peptide and
protein therapeutics without the requirement of an injection, which is
currently the most common form of administration for this class of drugs.
Nastech has also established a wholly-owned subsidiary, MDRNA, Inc., to focus
on developing RNA-based technologies and therapeutics. MDRNA is harnessing the
power of RNA interference, a cellular mechanism that can turn off the
production of a specific protein through use of small interfering RNAs
(siRNAs), to develop a new class of therapeutics by identifying key protein
targets, designing the siRNAs that will turn off the production of the
targeted proteins, and creating a formulation for the delivery of the
therapeutics. Nastech and its collaboration partners are developing products
for multiple therapeutic areas including osteoporosis, obesity, diabetes,
autism, respiratory diseases and inflammatory conditions. For additional
information about Nastech please visit http://www.nastech.com.
Nastech Forward-Looking Statements
Statements made in this press release may be forward-looking statements
within the meaning of Federal Securities laws that are subject to certain
risks and uncertainties and involve factors that may cause actual results to
differ materially from those projected or suggested. Factors that could cause
actual results to differ materially from those in forward-looking statements
include, but are not limited to: (i) the ability of Nastech or a subsidiary to
obtain additional funding; (ii) the ability of Nastech or a subsidiary to
attract and/or maintain manufacturing, research, development and
commercialization partners; (iii) the ability of Nastech, a subsidiary and/or
a partner to successfully complete product research and development, including
preclinical and clinical studies and commercialization; (iv) the ability of
Nastech, a subsidiary and/or a partner to obtain required governmental
approvals; and (v) the ability of Nastech, a subsidiary and/or a partner to
develop and commercialize products that can compete favorably with those of
competitors. Additional factors that could cause actual results to differ
materially from those projected or suggested in any forward-looking statements
are contained in Nastech's most recent periodic reports on Form 10-K and Form
10-Q that are filed with the Securities and Exchange Commission. Nastech
assumes no obligation to update and supplement forward-looking statements
because of subsequent events.
Contacts:
Nastech
Ed Bell
Director, Investor Relations
(425) 908-3639
ir@nastech.com
Russo Partners, LLC
David Schull (Media)
(212) 845-4271
SOURCE Nastech Pharmaceutical Company Inc.
Ed Bell, Director, Investor Relations of Nastech, +1-425-908-3639,
ir@nastech.com; Media: David Schull of Russo Partners, LLC, +1-212-845-4271,
for Nastech
