DANBURY, Conn., June 11 Biodel Inc.(Nasdaq: BIOD) today announced that Barry Ginsberg, M.D., Ph.D., has beenelected as a new member of its Board of Directors, effective June 10, 2008.Dr. Ginsberg is currently Chief Executive Officer of Diabetes TechnologyConsultants where he advises Fortune 500 companies in the field of diabetes.
"We are pleased to welcome Barry to our Board of Directors at such animportant time for Biodel," stated Dr. Solomon Steiner, Chief ExecutiveOfficer and Chairman of Biodel. "Barry's diabetes expertise and experience asa seasoned advisor to commercial stage companies will provide invaluableinsights and contributions to Biodel as we prepare to file VIAject(TM)'s NewDrug Application by the end of 2008."
Dr. Ginsberg joins the Company's Board of Directors with over 25 years ofexperience in diabetes. Prior to Diabetes Technology Consultants, Dr. Ginsbergserved as Vice President of Worldwide Medical Affairs in the DiabetesHealthCare Division at Becton Dickinson during his 17 year tenure. Dr.Ginsberg currently serves as Chairman of the Scientific Advisory Boards atAgamatrix and Therafuse, and is a Scientific Advisory Board Member atCovidien, Metacure, Glucolight and Becton Dickinson Diabetes HealthCare. Whilea Professor of Medicine at the University of Iowa (1977-90), he was aPrincipal Investigator of the prestigious Diabetes Control and ComplicationsTrial.
Biodel also announced that Albert Cha, M.D., Ph.D. will depart from theCompany's Board of Directors. Dr. Cha, a Managing Partner of Vivo Ventures,joined the Company's Board of Directors in July 2006.
"Albert has been a valued source of counsel and he served our Company andits shareholders well during our transition from an early stage privatecompany to a public company with a late stage Phase III product candidate. Wethank him for his service and wish him well," stated Dr. Steiner.
About Biodel Inc.
Biodel Inc. is a specialty biopharmaceutical company focused on thedevelopment and commercialization of innovative treatments for endocrinedisorders, such as diabetes and osteoporosis. Biodel's product candidates aredeveloped by using VIAdel(TM) technology, which reformulates existingFDA-approved peptide drugs. The Company's lead product candidate, VIAject(TM),is an ultra rapid-acting injectable meal-time insulin in development for useby patients with Type 1 or Type 2 diabetes. VIAject(TM) is currently beingtested in two pivotal Phase III clinical trials. Biodel's pipeline alsoincludes VIAtab(TM), a sublingual tablet formulation of insulin in the Phase Istage of clinical testing, and two pre-clinical osteoporosis productcandidates. For further information regarding Biodel, please visit theCompany's website at www.biodel.com.
SOURCE Biodel Inc.