SCOLR Pharma, Inc. (NYSE Amex: DDD) announced the appointment of Stephen J. Turner as Chief Executive Officer and President as of August 31, 2009. The employment of Dr. Bruce S. Morra in these positions terminated on August 28 by mutual agreement. Dr. Morra will continue to serve as a director of the Company.
Mr. Turner has been Vice President and Chief Technical Officer of SCOLR since 2003 and has been instrumental in development of SCOLR's proprietary Controlled Delivery Technology (CDT(R)). Mr. Turner said "SCOLR plans to continue efforts to license our 12 hour 600 mg ibuprofen formulation and we are advancing discussions with potential partners. In addition, we are making progress on our program to gain approval for our extended release pseudoephedrine. In the short term, we will direct efforts to increase distribution and sales of our nutraceutical products both in the area of providing new products and expanding into new areas."
Michael Taglich, Chairman of the Board, said, "Steve Turner is a natural leader and I am confident we will succeed with him at the helm. He has tremendous knowledge of the drug delivery and formulation business and has the right combination of skills to take this company to the next level. I also want to thank Bruce Morra for stepping in when he did. Bruce has helped guide us in advancing discussions with a number of potential partners that could significantly enhance shareholder value. We look forward to Bruce's continued presence as a member of the Board going forward."
About SCOLR Pharma:
Based in Bothell, Washington, SCOLR Pharma, Inc. is a specialty pharmaceutical company. SCOLR Pharma's corporate objective is to combine its formulation expertise and its patented CDT platform to develop novel pharmaceutical, over-the-counter (OTC), and nutritional products. Our CDT drug delivery platforms are based on multiple issued and pending patents and other intellectual property for the programmed release or enhanced performance of active pharmaceutical ingredients and nutritional products. For more information on SCOLR Pharma, please call 425.368.1050 or visit http://www.scolr.com/.
This press release contains forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including activities, events or developments that we expect, believe or anticipate will or may occur in the future. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including our ability to advance development of our potential products and complete research and development, our ability to raise additional funds or enter strategic alliances, the continuation of arrangements with our product development partners and customers, competition, government regulation and approvals, and general economic conditions.. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission. Such filings are available on our website or at www.sec.gov. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances.