TORONTO, July 7, 2010 (GLOBE NEWSWIRE) -- Polydex Pharmaceuticals Limited (Pink Sheets:POLXF) (the "Company") is pleased to announce the appointment of Mr. Martin Lipper to the Board of Directors.
Mr. Lipper brings extensive Wall Street expertise to the Board, and has wide-ranging experience in business development, financing, mergers and acquisitions, and operations management.
Mr. Lipper has long been associated with the company, as a shareholder, financier, analyst and investment broker, and as such has in-depth knowledge of the Company's financials, business model, history and potential going forward.
George Usher, President and CEO of the Company, said, "Mr. Lipper is the ideal person to join our Board, especially at this time of transition in the public marketplace. He is very familiar with our line of products, our domestic and overseas sales markets, our management, and the company's position in the public market, and as such is sure to be an invaluable asset to the Board. We are very happy he has accepted this position on our Board of Directors."
The company also announces the retirement of John L.E. Seidler from its Board of Directors. Management would like to thank Mr. Seidler for bringing his expertise to Polydex, and for his years of service to the Company.
The Company shares continue to be quoted and traded on the Pink Sheet platform (www.pinksheets.com).
Polydex Pharmaceuticals Limited, based in Toronto, Ontario, Canada, is engaged in the development, manufacture and marketing of biotechnology-based products for the human pharmaceutical market, and also manufactures bulk pharmaceutical intermediates for the worldwide veterinary pharmaceutical industry. Company website: www.Polydex.com
The Polydex Pharmaceuticals Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3414
Note: This press release may contain forward-looking statements, within the meaning of the United States Securities Act of 1933, as amended, and the United States Securities Exchange Act of 1934, as amended, regarding Polydex Pharmaceuticals Limited, including, without limitation, statements regarding expectations about future revenues or business opportunities or potential research projects. These statements are typically identified by use of words like "may," "could," "might," "expect," "anticipate," "believe," or similar words. Actual events or results may differ materially from the Company's expectations, which are subject to a number of known and unknown risks and uncertainties including but not limited to changing market conditions, future actions by the United States Food and Drug Administration or equivalent foreign regulatory authorities as results of pending or future clinical trials. Other risk factors discussed in the Company's filings with the United States Securities and Exchange Commission may also affect the actual results achieved by the Company.