Aquinox Pharmaceuticals Announces Changes to Board of Directors

VANCOUVER, British Columbia, Feb. 17, 2015 (GLOBE NEWSWIRE) -- Aquinox Pharmaceuticals, Inc. ("Aquinox") (Nasdaq:AQXP), a clinical-stage pharmaceutical company discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology, today announced the appointment of Mr. Sean P. Nolan to its Board of Directors.

"We are very pleased to welcome Sean to our Board," said David Main, Chairman, President, and CEO of Aquinox. "Sean is an industry veteran with decades of experience leading the commercialization of novel therapies. Sean's proven expertise in strategic planning, commercial product launches and managing organizational growth will prove invaluable as we advance AQX-1125 through clinical development and prepare for potential commercialization in the future."

Mr. Nolan has more than 20 years of biopharmaceutical experience, most recently serving as Executive Vice President and Chief Business Officer at Intermune. He was a key contributor to the commercial strategy of InterMune's Esbriet® for idiopathic pulmonary fibrosis, as well as the company's sale to Roche for $8.3B. Before his role at InterMune, Mr. Nolan was the Chief Commercial Officer at Reata Pharmaceuticals where he devised the strategic and operational launch plans for its late stage compound for chronic kidney disease. Prior to Reata Pharmaceuticals, Mr. Nolan rose to the role of President of Lundbeck through its acquisition of Ovation Pharmaceuticals where Mr. Nolan led the company integration, advanced the clinical pipeline and launched key products into the U.S. market. Mr. Nolan began his career at Abbott Laboratories in 1991 where, over a period of 13 years, he served in a variety of marketing and sales leadership positions.

Aquinox is also announcing that Dr. Elaine Jones has relinquished her position on the Board of Directors completing seven years of service.

"On behalf of the Board, I'd like to thank Elaine for her guidance and support, which includes seeing us through our transition to a public company," said Mr. Main. "Elaine's contribution has been instrumental to Aquinox's strategy and the advancement of AQX-1125. We will miss her insight and wish her well as she focuses on her responsibilities to private companies in the Pfizer Ventures portfolio."

About AQX-1125

AQX-1125, Aquinox's lead drug candidate, is a small molecule activator of SHIP1, which is a regulating component of the PI3K cellular signaling pathway. By increasing SHIP1 activity, AQX-1125 accelerates a natural mechanism that has evolved to maintain homeostasis of the immune system and reduce immune cell activation and migration to sites of inflammation. AQX-1125 has demonstrated preliminary safety and favorable drug properties in multiple preclinical studies and clinical trials. Aquinox is currently exploring AQX-1125 as an oral, once daily treatment in several Phase 2 trials.

About Aquinox Pharmaceuticals, Inc.

Aquinox Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company that is discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology. Aquinox's lead drug candidate, AQX-1125, is a small molecule activator of SHIP1 suitable for oral, once daily dosing. Having successfully completed multiple preclinical studies and clinical trials with AQX-1125, Aquinox is now advancing through Phase 2 development. Aquinox has a broad intellectual property portfolio and pipeline of preclinical drug candidates that activate SHIP1. For more information, please visit www.aqxpharma.com.

Cautionary Note on Forward-looking Statements

Certain of the statements made in this press release are forward looking, such as those, among others, relating to the success of clinical development of AQX-1125 and preparation for potential commercialization. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to: our ability to enroll patients in our clinical trials at the pace that we project; the size and growth of the potential markets for AQX-1125 or any future product candidates and our ability to serve those markets; our ability to obtain and maintain regulatory approval of AQX-1125 or any future product candidates; and our expectations regarding the potential safety, efficacy or clinical utility of AQX-1125 or any future product candidates. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. More information about the risks and uncertainties faced by Aquinox is contained in the company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2014 filed with the Securities and Exchange Commission. Aquinox disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.