Full Press Release Details
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Marc Pannoff Todd Fromer or Garth Russell
Chief Financial Officer KCSA Worldwide
Nephros, Inc. 212-896-1215 / 212-896-1250
Tel: 212-781-5113 tfromer@kcsa.com / grussell@kcsa.com
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Nephros Inc. Appoints Bernard Salick, M.D. To Board of Directors
New York, April 26, 2005 - Nephros, Inc. (AMEX: NEP) announced today that
Bernard Salick, M.D., a nephrologist and healthcare entrepreneur, has joined the
Company's board of directors, increasing the number of board members to eight.
As the founder, former Chairman and CEO of Salick Health Care, Inc., Dr. Salick
developed long-term care concepts and solutions for patients with chronic and
catastrophic illness, including cancer and end-stage renal disease ("ESRD"). In
1997, Salick Health Care, Inc. was sold to Zeneca PLC (now Astra-Zeneca) for
approximately $500 million.
Currently Dr. Salick, as the Chairman and CEO of Salick Cardiovascular Centers,
LLC, is developing comprehensive cardiac centers to provide a broad range of
innovative services for the diagnosis and treatment of cardiovascular disease
including full diagnostic and treatment services (including those for
cerebrovascular, coronary artery, coronary heart and peripheral vascular
disease) on an outpatient basis.
Dr. Salick received his M.D. from the University of Southern California. He
completed his residency and training in nephrology as a NIH postdoctoral fellow
at Cedars-Sinai Medical Center and the University of California, Los Angeles.
"Dr. Salick is a great addition to our Board of Directors. He brings to Nephros
a wealth of knowledge as both a practicing physician and entrepreneur," stated
Norman Barta, CEO of Nephros. "Throughout his career he has shown an
extraordinary commitment to delivering advanced therapies in innovative and
cost-effective ways to patients with critical illnesses, including ESRD. We
share in his approach and look forward to his valuable contributions as we
continue to grow our family of patients worldwide."
Bernard Salick, M.D. commented, "I am pleased to join Nephros' Board of
Directors, and assist the Company in advancing cost effective state-of-the-art
treatment for patients suffering from ESRD. I look forward to offering my
expertise in supporting the Company's growth in the worldwide ESRD marketplace."
Nephros, Inc., headquartered in New York, is a medical device company developing
and marketing products designed to improve the quality of life for the End Stage
Disease (ESRD) patient, while addressing the critical financial and clinical
needs of the care provider. ESRD is a disease state characterized by the
irreversible loss of kidney function. Nephros believes that its products are
designed to remove a range of harmful substances more effectively, and more
cost-effectively, than existing treatment methods; particularly with respect to
substances known collectively as "middle molecules," due to their molecular
weight, that have been found to contribute to such conditions as dialysis
related amyloidosis, carpal tunnel syndrome, degenerative bone disease and
ultimately, to mortality in the ESRD patient.
Forward Looking Statements
This news release contains certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements, including statements regarding the efficacy and intended utilization
of Nephros's technologies under development, are not guarantees of future
performance, are based on certain assumptions and are subject to risks and
uncertainties, many of which are beyond the control of Nephros. Actual results
may differ materially from the expectations contained in the forward-looking
statements. Factors that may cause such differences include the risk that
potential products that appeared promising in early research or clinical trials
to Nephros do not demonstrate efficacy or safety in subsequent pre-clinical or
clinical trials, and the risk that Nephros will not obtain appropriate or
necessary governmental approvals to market products. More detailed information
about Nephros and the risk factors discussed above is set forth in Nephros'
filings with the Securities and Exchange Commission, including Nephros's Annual
Report on Form 10-KSB filed with the SEC on March 31, 2005. Investors and
security holders are urged to read such document free of charge at the
Commission's web site at www.sec.gov. Nephros does not undertake an obligation
to publicly update or revise its forward-looking statements as a result of new
information, future events or otherwise.