Capnia Appoints William G. Harris to its Board of Directors
REDWOOD CITY, Calif., June 30, 2014
REDWOOD CITY, Calif., June 30, 2014 /PRNewswire/ --Capnia, Inc., a privately
held maker of diagnostic devices to detect analytes in exhaled breath, today
announced the appointment of William G. Harris to its Board of Directors. Mr.
Harris brings to Capnia more than 20 years of financial expertise and
experience in the biomedical and pharmaceutical industry.
"Bill Harris has built value in multiple emerging life science companies with
his skills in financial strategy, fundraising, and financial operations,"
stated Anish Bhatnagar, M.D., Chief Executive Officer of Capnia. "We look
forward to Bill's valuable contributions as we launch the CoSense™ diagnostic
device later this year, and develop additional future diagnostic products
based on our Sensalyze technology."
"Through extensive experience as a financial executive in the life sciences,
Bill understands the key elements necessary for building a successful business
in our industry," said Ernest Mario, Ph.D., Chairman of the Board. "We look
forward to having his perspectives as a Director, and to leveraging his
expertise as Capnia transitions to a commercial company later this year."
"I believe Capnia's CoSense product and Sensalyze™ Technology Platform provide
significant opportunities to build a diagnostics franchise over the next
several years," stated Mr. Harris. "I am excited to join the Capnia's Board of
Directors and look forward to contributing to the Company's future success."
Since 2001, Mr. Harris has been the Senior Vice President of Finance and Chief
Financial Officer of Xenoport, Inc. From 1996 to 2001, he held several
positions with Coulter Pharmaceutical, Inc., a biotechnology company which was
acquired by Corixa in 2000, the most recent of which was Senior Vice President
and Chief Financial Officer. Prior to Coulter Pharmaceutical, Mr.Harris held
several positions at Gilead Sciences, Inc., the most recent of which was
director of finance. Mr.Harris received a B.A. from the University of
California, SanDiego and an M.B.A. from SantaClara University, Leavey School
of Business and Administration.
CoSense aids in the diagnosis of hemolysis, a dangerous condition in which red
blood cells degrade rapidly. Hemolysis, when it occurs in neonates, can lead
to long-term developmental disability. CoSense is 510(k) cleared for sale in
the U.S., and received CE Mark approval for sale in the E.U. Capnia
anticipates commercializing CoSense in the second half of 2014.
Capnia, Inc., a privately held company headquartered in Redwood City,
California, develops diagnostics based on its proprietary Sensalyze™
technology for precision metering of gas flow.
This communication contains forward-looking statements that are subject to
many risks and uncertainties. Forward looking statements include statements
regarding our intentions, beliefs, projections, outlook, analyses or current
expectations concerning, among other things, our ongoing and planned product
development and clinical trials; the timing of, and our ability to make,
regulatory filings and obtain and maintain regulatory approvals for our
product candidates; our intellectual property position; the degree of clinical
utility of our products, particularly in specific patient populations; our
ability to develop commercial functions; expectations regarding product launch
and revenue; our results of operations, cash needs, and spending of the
proceeds from this offering; financial condition, liquidity, prospects, growth
and strategies; the industry in which we operate; and the trends that may
affect the industry or us.
We may use terms such as "believes," "estimates," "anticipates," "expects,"
"plans," "intends," "may," "could," "might," "will," "should," "approximately"
or other words that convey uncertainty of future events or outcomes to
identify these forward-looking statements. Although we believe that we have a
reasonable basis for each forward-looking statement contained herein, we
caution you that forward-looking statements are not guarantees of future
performance and that our actual results of operations, financial condition and
liquidity, and the development of the industry in which we operate may differ
materially from the forward-looking statements contained in this presentation.
As a result of these factors, we cannot assure you that the forward-looking
statements in this presentation will prove to be accurate.
Capnia has filed a registration statement for an offering of securities on SEC
Form S-1, which you can access at http://edgar.sec.gov. You should also read
carefully the factors described in the "Risk Factors" section and other parts
of any offering prospectus we may in the future distribute, in order to to
better understand the risks and uncertainties inherent in our business and
underlying any forward-looking statements.
Vice President, Corporate Development
SOURCE Capnia, Inc.
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