GREENWOOD VILLAGE, Colo.,
May 10 /PRNewswire-FirstCall/ --
Ampio Pharmaceuticals, Inc. (OTC Bulletin Board: AMPE), today
announced the appointment of Michael
Macaluso as Chairman of the Board of Directors. Mr. Macaluso
replaces Dr. David Bar-Or, who remains the Chief Scientific Officer
and a member of the Board of the Directors. Both Mr. Macaluso and
Dr. Bar-Or have served on Ampio's Board since the date of its
acquisition of DMI Life Sciences on March 2,
2010.
"Even though Ampio is not yet exchange-listed, the Board
recognized that appointing an independent director as Chairman was
an important step in strengthening Ampio's governance and internal
processes," said CEO Don Wingerter.
"We are extremely fortunate to have two directors of the caliber
and background of Mike Macaluso and
David Bar-Or. Mike's appointment will facilitate David's continued
focus on his activities as Chief Scientific Officer and a director,
while Mike will bring to the Chairman's role his vision and
extensive experience in management, strategic execution, and growth
by acquisition." As a founder of and lead investor in Ampio, Mike
has had a very successful career ranging from professional player
with the MBA to serial entrepreneur and business
leader/investor.
The following executive changes were also announced and will be
effective May 6, 2010. Bruce G. Miller has been named the Chief
Financial Officer of Ampio, and will resign as Ampio's Chief
Operating Officer. Mr. Miller continues to serve as the president
and chief operating officer of DMI Life Sciences, a wholly-owned
subsidiary of Ampio.
Ampio Pharmaceuticals, Inc. develops innovative proprietary
drugs for metabolic disease, eye disease, kidney disease,
inflammation and CNS disease. The product pipeline includes new
uses for previously approved drugs, some of which we expect will
shortly start clinical trials, and new molecular entities ("NMEs").
By concentrating on development of new uses for previously approved
drugs, approval timelines, costs and risk of clinical failure are
reduced because these drugs have strong potential to be safe and
effective while their shorter development times can significantly
increase near-term value. A key strategy includes actively
exploring partnership, licensing and other collaboration
opportunities to maximize Ampio's product development programs.
Safe Harbor Statement
Certain of the above statements contained in this press release
are forward-looking statements that involve a number of risks and
uncertainties. Such forward-looking statements are within the
meaning of that term in Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those indicated in the forward-looking statements as a result of
various factors.
Investor Contact: Redwood Consultants, LLC at 415-884-0348
SOURCE Ampio Pharmaceuticals, Inc.