BERKELEY, Calif., Jan. 28 /PRNewswire-FirstCall/ -- Nile Therapeutics,
Inc. (OTC Bulletin Board: NILT.OB), a biopharmaceutical company focused on
developing therapies for cardiovascular disease, today announced the
appointment of Gregory W. Schafer to its board of directors and as chairman of
the audit committee. Mr. Schafer is a seasoned biotechnology industry leader
with 15 years of experience in biotechnology finance and operations.
"We are delighted to add Greg to our Board of Directors," said Peter
Strumph, Chief Executive Officer of Nile. "Greg has very relevant experience
from both small and large biotechnology companies. As the CFO for several
publicly traded biotechnology companies, Greg has accrued experience
developing and executing successful strategic plans, has first hand knowledge
of capital markets and has been instrumental in building processes which are
commensurate with current compliance considerations."
Mr. Schafer, 43, serves as the Vice President and Chief Financial Officer
of Onyx Pharmaceuticals, Inc. Prior to Onyx, from 2004 to 2006, Mr. Schafer
served as a consultant to several private and public biotechnology companies.
From 1997 to 2004, Mr. Schafer held various executive positions at Cerus
Corporation, a public biotechnology company, including Vice President and
Chief Financial Officer. Prior to joining Cerus, Mr. Schafer worked as a
management consultant for Deloitte & Touche LLP. Mr. Schafer holds an MBA from
the Anderson Graduate School of Management at UCLA and a BSE in Mechanical
Engineering from the University of Pennsylvania.
"Nile is well positioned for future growth and achievement with its
innovative cardiovascular product portfolio," said Mr. Schafer. "I look
forward to contributing to the company's success."
About Nile Therapeutics, Inc.
Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that
develops innovative products for the treatment of cardiovascular disease and
other areas of unmet medical need. Nile is initially focusing its efforts on
developing its lead compound, CD-NP, a novel chimeric peptide in Phase I
studies for the treatment of heart failure, and 2NTX-99, a small molecule,
pre-clinical, anti-atherothrombotic agent with nitric oxide donating
properties. A key component of the company's strategy is to acquire the global
rights to additional compounds to expand its portfolio. More information on
Nile can be found at www.nilethera.com.
Chief Financial Officer
Nile Therapeutics, Inc.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 that involve
substantial risks and uncertainties. All statements, other than statements of
historical facts, included in this press release regarding our strategy,
future operations, outlook, milestones, the success of Nile's product
development, future financial position, future financial results, plans and
objectives of management are forward-looking statements. We may not actually
achieve these plans, intentions or expectations and Nile cautions investors
not to place undue reliance on our forward-looking statements. Actual results
or events could differ materially from the plans, intentions and expectations
disclosed in the forward-looking statements we make. Various important factors
that could cause actual results or events to differ materially from the
forward-looking statements that we make are described in greater detail in the
reports we file with Securities and Exchange Commission, including the "Risk
Factors" section of our Prospectus filed pursuant to Rule 424(b)(3) of the
Securities Act of 1933, as amended, with the Securities and Exchange
Commission on November 15, 2007. Nile is providing this information as of the
date of this press release and does not undertake any obligation to update any
forward-looking statements as a result of new information, future events or
SOURCE Nile Therapeutics, Inc.
Daron Evans, Chief Financial Officer, Nile Therapeutics, Inc., +1-510-281-7700,
-0- Jan/28/2008 15:00 GMT
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