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Micrologix Biotech Inc. | BC Research Complex | 3650 Wesbrook Mall | Vancouver BC Canada V6S 2L2

FOR IMMEDIATE RELEASE TRADING SYMBOL: MBI (TSE/CDNX)
MGIXF (US over the counter)
Investor Relations Contacts:
Art Ayres
Micrologix Biotech Inc.
Telephone: 604.221.9666
Toll-Free: 1.800.665.1968
aayres@mbiotech.com
 

Website www.mbiotech.com


Marla Gale
Fleishman-Hillard Canada Inc.
Telephone: 416.214.0701
Fax: 416.214.0720
galem@fleishman.com

Micrologix Names Dr. Jim DeMesa President and CEO

Brings a Wealth of Partnering and Business Development Experience

 

Vancouver, August 22, 2001 – Micrologix Biotech Inc. today announced that it has appointed Jim DeMesa, M.D. as the Company's new President and CEO.

Dr. DeMesa brings to Micrologix a wealth of biotech and management experience and a proven record of growth and accomplishment. He was most recently President and Chief Executive Officer of GenSci Regeneration Sciences, a TSE-listed North American orthobiologics company which he helped take from a small R&D firm to a fully integrated biotech company, growing revenues from zero to more than $45 million within 3 years. He also helped to raise more than $30 million in financing, establish strategic alliances with major corporate partners and grow the product line significantly.

"We are confident that Jim has the leadership qualities, experience and vision to successfully guide Micrologix through the next stage in its development. Formally trained in both business and medicine, his knowledge and proven ability to lead, manage and grow companies will be of great benefit to us,” said William J. (Bud) Foran, Chairman of Micrologix Biotech.

Dr. DeMesa added, "I am thrilled to be joining Micrologix at such an exciting time in its development. With two products in late-stage clinical trials, a strong balance sheet, impressive platform technology and product pipeline, the future looks very bright. My near-term focus will be on building solid relationships with strategic partners and continuing to advance our clinical and research programs.”

Prior to GenSci, Dr. DeMesa held other senior managerial positions where he gained a wide range of experience in clinical trials, regulatory affairs and business development. From 1992 to 1996, he was Vice President, Medical and Regulatory Affairs for Biodynamics International Inc., an international manufacturer of medical devices and biologics marketed in 44 countries. Prior to that, he was Vice President, Medical Affairs for Belmac Corporation, a developer of anti-infective and gastrointestinal drugs with responsibility for clinical and regulatory programs.

Dr. DeMesa holds Doctor of Medicine (MD) and Master of Business Administration (MBA) degrees, both from the University of South Florida.

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 two drugs in clinical trials in the United States: MBI 226 for preventing catheter-related bloodstream infections in Phase III and MBI 594AN for treating acne in Phase II. The Company’s common shares are included in the TSE 300 Composite Index. 

 

The Toronto Stock Exchange and the Canadian Venture Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

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