CAMBRIDGE, Mass., Oct. 17 Biopure Corporation(Nasdaq: BPURD BPUR) announced today that the board of directors has electedR. Todd Wood as the company's Vice President-Operations and Acting ChiefFinancial Officer. In addition, Biopure announced that it has receivednotification from The Nasdaq Stock Market that the company has regainedcompliance with the $1.00 minimum bid price requirement for continued listingon the Nasdaq Capital Markets, pursuant to Marketplace Rule 4310(c)(4).
As previously announced, CFO Francis H. Murphy, age 69, has advised thecompany of his intention to retire by December 14, 2007. Mr. Wood, age 35,has been a consultant to the company since earlier this year, serving as adirector of business development. Mr. Wood's background includes founding andserving as CEO of a software company, financial consulting and advisoryservices with Morgan Stanley and Merrill Lynch and various other technologyand systems positions. Mr. Wood holds the MBA cum laude from the Universityof Notre Dame. Mr. Murphy has agreed to remain at Biopure during a transitionperiod.
Biopure Corporation develops, manufactures and markets pharmaceuticals,called oxygen therapeutics, that are intravenously administered to deliveroxygen to the body's tissues. Hemopure(R) [hemoglobin glutamer -- 250(bovine)], or HBOC-201, is being sold in South Africa for the treatment ofsurgical patients who are acutely anemic. Biopure's veterinary productOxyglobin(R) [hemoglobin glutamer -- 200 bovine)], or HBOC-301, the onlyoxygen therapeutic approved by both the U.S. Food and Drug Administration andthe European Commission, is indicated for the treatment of anemia in dogs.Biopure has sold approximately 186,000 units of Oxyglobin, which have beenused to treat an estimated 100,000 animals.Contact: Tiana Gorham Biopure Corporation (617) 234-6826 IR@biopure.com
SOURCE Biopure Corporation