MONTREAL, CANADA -- (Marketwired) -- 08/12/13 -- Paladin Labs Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical company, announced today that Ted S. Wise, Chairman Emeritus of Paladin's Board of Directors passed away on Thursday August 8.
Mr. Wise had been Chairman of Paladin's Board of Directors from the company's founding in 1995 until 2012 when he was named Chairman Emeritus. Prior to his involvement in Paladin, in 1983 Mr. Wise co-founded Pharmascience Inc. along with Morris Goodman and was an instrumental part of that company's success until his retirement.
Jonathan Goodman, Chairman of Paladin said, "All of us at Paladin are deeply saddened by the news of Mr. Wise's passing. Since our founding, he has always been an invaluable source of advice and guidance on our board. More importantly, Mr. Wise was a truly wonderful person who touched the lives of everyone he met and, for me, served as a role model of grace, kindness and compassion for others. He was a dear friend and a mentor and we will miss him very much. We offer our heartfelt condolences to his family and wish them strength and peace in this difficult time."
Mr. Wise made many friends in Canada and internationally through his long career in the pharmaceutical industry. Expressions of sympathy can be directed to www.paperman.com/en/funerals/2013-8-11-Theodore--ted--Wise and will be forwarded to the Wise family. Donations in Mr. Wise's memory may be made to the Royal Victoria Hospital Foundation, (514) 843-1543.
About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets. With this strategy, a focused Canadian national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. For more information, please visit the Company's web site at www.paladinlabs.com.
This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual report as well as in the Company's Annual Information Form for the year ended December 31, 2012. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Company's ongoing quarterly filings, annual report and Annual Information Form and other fillings found on SEDAR at www.sedar.com.
Samira Sakhia, CPA, CA, MBA
Chief Financial Officer, Paladin Labs Inc.
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