Micrologix appoints Ken Galbraith to Board
Brings a Wealth of Partnering and Business Development Experience
Vancouver, February 5, 2001 - Micrologix Biotech Inc. announced today that it has appointed Kenneth H. Galbraith to the company's Board of Directors. Mr. Galbraith's wide-ranging experience in biotechnology includes business development, finance, information technology, technical operations and product manufacturing.
Mr. Galbraith is currently President of Gigha Consulting Ltd. and serves as an advisor to QLT Inc., a leading biotechnology company. He was part of QLT's management group since joining it in 1988, progressing to the position of Executive Vice President and Chief Financial Officer. During his 12 years at QLT, Mr. Galbraith raised more than $500 million in equity capital and negotiated strategic alliances with major pharmaceutical companies, including Novartis AG, Baxter Healthcare Corp., American Home Products and the Beaufour Ipsen Group.
He serves on the Boards of several private and public biotechnology companies, including Angiotech Pharmaceuticals, StressGen Biotechnologies, Kinetek Pharmaceuticals, and Active Pass Pharmaceuticals. Mr. Galbraith also serves as Chairman of the Canadian Bacterial Diseases Network and is a former founding director and Chairman of the B.C. Biotechnology Alliance.
"I'm impressed with the progress of Micrologix and I think the company has tremendous prospects," said Mr. Galbraith. "I am excited to be involved in tackling one of the major problems of modern medicine-bacterial resistance to antibiotics."
"We are very pleased that Mr. Galbraith is joining our Board, particularly as we prepare for the transition from research and development to the marketing of our novel antibiotic products," said Bud Foran, Chairman and CEO. "We have a strong focus on advancing our products to market and Ken's experience will be highly beneficial to that process," he added.
About Micrologix
Micrologix develops novel drugs targeted at severe and life-threatening diseases - particularly those caused by antibiotic-resistant bacteria. The Company's portfolio of antibiotic drug candidates is based on improved analogs of naturally occurring cationic peptides found in the host defense systems of most life forms. Micrologix currently has three drugs in clinical trials in the United States: MBI 226 for preventing catheter-related bloodstream infections in Phase III clinical trials; MBI 594AN for treating acne in Phase II; and MBI 853NL for preventing hospital-acquired Staphylococcus aureus infections in Phase I. The Company's common shares are included in the TSE 300 Composite Index.
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