NEOPROBE
REPORTS ORGANIZATIONAL DEVELOPMENTS
Company
Announces Board Appointments, Creation of Scientific Advisory Board
and
Executive Promotions
DUBLIN,
OHIO – July 19, 2010 – Neoprobe Corporation (OTCBB: NEOP), a diversified
developer of innovative oncology surgical and diagnostic products, announced
today that the Company’s Board of Directors has elected a Vice Chairman,
approved the creation of a scientific advisory board (SAB), and approved senior
executive promotions.
As previously
announced following the Company’s Annual Meeting of Stockholders on
Friday, July 16 stockholders voted to approve the elections of Brendan A. Ford and
Eric K.
Rowinsky, M.D. as directors for terms ending in July,
2013. Ford is a partner in Talisman Capital Partners, a private
investment company. From 1991 to 2007 Ford served in executive positions at
Cardinal Health, including Executive Vice President, Business Development and
Corporate Strategy. From 2005 to 2009, Dr. Rowinsky served as Chief
Medical Officer and Executive Vice President of Clinical Development and
Regulatory Affairs at ImClone Systems.
At a
meeting of the Board of Directors following the Annual Meeting, Gordon A. Troup was
elected as Vice Chairman of the Board. From 2003 to 2007, Troup served as
President of Cardinal Health’s Nuclear Pharmacy Services business and has been a
Neoprobe board member since 2008.
“Mr. Ford
and Dr. Rowinsky bring to our board significant expertise in medical product
distribution, manufacturing and research and development that will be critical
to our success in the months ahead,” said David Bupp, President
and Chief Executive Officer of Neoprobe. “Additionally, the appointment of
Gordon Troup as vice chairman will help ensure the long-term stability of
Neoprobe’s corporate governance.”
The Board
of Directors also approved creation of the SAB to help the Company to identify
new oncology pipeline development opportunities consistent with its corporate
mission. The SAB will be chaired by Dr. Rowinsky, and will include current
Neoprobe Board members Kirby I. Bland, M.D.,
Professor and Chairman, Department of Surgery of the University of Alabama at
Birmingham School of Medicine; and Owen E. Johnson,
M.D., former Vice President and Senior Medical Director of UnitedHealthcare of
Ohio, a subsidiary of UnitedHealth Group.
“By
establishing this scientific advisory board, Neoprobe will be better positioned
to identify new opportunities to fuel our Company’s growth well into the
future,” Bupp said. “Drs. Rowinsky, Bland and Johnson will be instrumental in
leading this effort and identifying outside experts to help the Board evaluate
new technologies for development.”
The Board
of Directors also approved the promotion of two senior executives as the Company
prepares for upcoming milestones. Brent L. Larson was
named Senior Vice President and Chief Financial Officer and Dr. Frederick O. Cope
was named Senior Vice President, Pharmaceutical Research and Clinical
Development.
Neoprobe
will hold a conference call at 4:00 PM ET today to provide a business update,
discuss its product pipeline and provide an update on matters from the Annual
Meeting. The conference call can be accessed as
follows:
