CHICAGO, April 18 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. , today announced that R. Richard Wieland II, Executive Vice President and Chief Financial Officer, has resigned from the Company to pursue other opportunities. This resignation is effective April 18, 2008. The Board of Directors has appointed John L. Flavin to serve as the Company's Chief Financial Officer. Mr. Flavin will continue in his position as President and Director.
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"With these management changes, the Company is well positioned to be successful in the next phase of our business as we continue to achieve our Company goals," stated Michael T. Flavin, Ph.D., Chief Executive Officer of the Company. Dr. Flavin added: "We are grateful for Rich's service to the Company and wish him much success in his future endeavors."
John L. Flavin joined Advanced Life Sciences in June 2002 as Executive Vice President and Chief Financial Officer. He was elected to the Company's Board of Directors in 2003 and promoted to President in 2004. Prior to joining Advanced Life Sciences, Mr. Flavin was the Chief Operating Officer and a director of MediChem Life Sciences, Inc., a drug discovery technology and services company. Mr. Flavin holds a B.S. in Business Administration from Marquette University and an M.B.A. from Lewis University.
About Advanced Life Sciences
Advanced Life Sciences is a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases. The Company's lead candidate, cethromycin, is a novel once-a-day oral antibiotic in late-stage development for the treatment of respiratory tract infections including CAP. For more information, please visit us on the web at http://www.advancedlifesciences.com/.
Forward-Looking Statements
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our management's judgment regarding future events. The Company does not undertake any obligations to update any forward-looking statements whether as a result of new information, future events or otherwise. Our actual results could differ materially from those discussed herein due to several factors including the our ability to obtain and maintain regulatory approval and labeling of our product candidates; our plans to develop and commercialize our product candidates; the loss of key scientific or management personnel; the size and growth of potential markets for our product candidates and our ability to serve those markets; regulatory developments in the U.S. and foreign countries; the rate and degree of market acceptance of any future products; the accuracy of our estimates regarding expenses, future revenues and capital requirements; our ability to obtain financing on terms acceptable to us; our ability to obtain and maintain intellectual property protection for our product candidates; the successful development of our sales and marketing capabilities; the success of competing drugs that become available; and the performance of third party collaborators and manufacturers. These and additional risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.
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