PRINCETON, N.J., March 17, 2008 (PRIME NEWSWIRE) -- Barrier Therapeutics, Inc. (Nasdaq:BTRX) announced today that Dennis P. Reilly, Vice President of Finance and Principal Accounting Officer of the Company, will succeed Anne M. VanLent as Chief Financial Officer of the Company on May 1, 2008. Mr. Reilly joined the Company as Vice President of Finance in September 2005 and was appointed Principal Accounting Officer in June 2006.
"On behalf of the Board, I want to thank Anne for her outstanding contributions and tireless service to Barrier Therapeutics," said Mr. Al Altomari, Chief Operating Officer. "Anne joined the Company in 2002 with its initial financing, was instrumental in taking the Company public in 2004, and has been an invaluable leader in the growth of the Company during the past six years."
"Working with the Barrier team from inception through its current commercial growth phase has been a great pleasure for me and represents one of the most exciting and rewarding periods of my over 20 years in this industry," said Ms. VanLent. "I look forward to now having the time to pursue my interests in the not-for-profit sector, while continuing to work with emerging growth life sciences companies. I'm proud of what we've accomplished in a relatively short period of time, and I look forward to seeing Barrier continue on its growth path."
Ms. VanLent has been Barrier's Executive Vice President, Chief Financial Officer and Treasurer since May 2002. Ms. VanLent also currently serves as a director and Audit Committee Chair of Penwest Pharmaceuticals Co. and Integra Lifesciences Holdings Corp.
Mr. Altomari stated, "We are pleased that Dennis Reilly has agreed to succeed Anne as Chief Financial Officer. Dennis has a proven ability to help the organizations he has worked for to generate superior value by supporting the successful execution of their business strategies. We believe that Dennis' proven record and expertise in strategic financial management will be of particular value at this time."
Prior to joining Barrier, Mr. Reilly was Senior Director and Controller of The Medicines Company from May 2002 until September 2005. Mr. Reilly also spent 17 years with Mobil Corporation in various accounting and finance roles of increasing responsibility. Mr. Reilly received a bachelor's degree in Accounting from Villanova University and a master's degree in Finance from Virginia Tech University. Mr. Reilly is also a Certified Public Accountant.
About Barrier Therapeutics
Barrier Therapeutics, Inc. is a pharmaceutical company focused on the development and commercialization of products in the field of dermatology. Barrier Therapeutics currently markets three pharmaceutical products in the United States: Xolegel(r) (ketoconazole, USP) Gel, 2%, for seborrheic dermatitis; Vusion(r) (0.25% miconazole nitrate, 15% zinc oxide, 81.35% white petrolatum) Ointment, for diaper dermatitis complicated by documented candidiasis; and Solage(r) (mequinol 2.0%, tretinoin 0.01%) Topical Solution, for solar lentigines. Barrier Therapeutics has other product candidates in various stages of clinical development for the treatment of a range of dermatological conditions, including onychomycosis, psoriasis, acne, skin allergies, and superficial fungal infections. The company is headquartered in Princeton, New Jersey and has a wholly-owned subsidiary in Geel, Belgium. More information about Barrier Therapeutics can be found on its corporate website at: www.barriertherapeutics.com.
Xolegel, Vusion, and Solage are trademarks of Barrier Therapeutics, Inc.
Safe Harbor Statement
In addition to historical facts or statements of current condition, this press release contains forward-looking statements within the meaning of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995, including statements regarding the Company's CFO succession plan and potential for future growth. Forward-looking statements provide Barrier's current expectations or forecasts of future events. Barrier's performance and financial results could differ materially from those reflected in these forward-looking statements due to the marketplace acceptance of Barrier's products, Barrier's ability to execute its commercial and clinical strategy, the decisions of regulatory authorities, the results of clinical trials and strategic decisions regarding its pipeline, general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries generally. For a discussion of these and other risks and uncertainties that may effect the forward-looking statements, please see the risk factors in the company's Annual Report on Form 10-K for the year ended December 31, 2007 which is on file with the Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Barrier undertakes no obligation to update publicly any forward-looking statement.