Full Press Release Details
Appoints Mark W. Lerner Chief Financial Officer
York, N.Y. - March 8, 2006 - Nephros, Inc. (AMEX:NEP) today announced
that the Board of Directors appointed Mark W. Lerner to the post of Chief
Financial Officer, effective March 6, 2006.
Lerner served as a consultant to Pipeline Data Inc., a business services company
that offers card processing services, from September 2003 until his employment
by the Company. From May 2002 through June 2003, Mr. Lerner was Executive Vice
President and Chief Financial Officer of Ramp, Inc., a healthcare information
technology company whose stock was listed on the American Stock Exchange. From
September 2000 through April 2002, Mr. Lerner was the Chief Financial Officer
and VP Finance and Development of Boardroom Inc., a direct marketer and
publisher. Prior to joining Boardroom, Mr. Lerner had over twenty years of
experience working in finance. Mr. Lerner received his MBA in Finance from
University and graduated from Columbia University's Executive
with great enthusiasm that we welcome Mark Lerner to Nephros at this exciting
juncture in the Company's history. Having recently entered the water filtration
industry and in continuing to create strongholds in the field of
hemodiafiltration, we believe that Mark will be an invaluable asset," stated
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
Renal Disease (ESRD) patient, while addressing the critical financial and
clinical needs of the care provider. Nephros also markets filtration products
complimentary to its core ESRD therapy business. ESRD is a disease state
characterized by the irreversible loss of kidney function. Nephros believes
its products are designed to remove a range of harmful substances more
effectively, and more cost-effectively, than existing ESRD treatment methods;
particularly with respect to substances known collectively as "middle
molecules," due to their molecular weight, that have been found to contribute
such conditions as dialysis related amyloidosis, carpal tunnel syndrome,
degenerative bone disease and ultimately, to mortality in the ESRD
release contains certain "forward-looking statements" within the meaning of
Private Securities Litigation Reform Act of 1995, as amended. Such statements
may include statements regarding the efficacy and intended use of Nephros's
technologies, the timelines for bringing such products to market and the
availability of funding sources for continued development of such products
other statements that are not historical facts, including statements which
be preceded by the words "intends," "may," "will," "plans," "expects,"
"anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes,"
"potential" or similar words. For such statements, Nephros claims the protection
of the Private Securities Litigation Reform Act of 1995.
statements are not guarantees of future performance, are based on certain
assumptions and are subject to various known and unknown 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 risks that:
products, including the DSU technology, that appeared promising to Nephros
research or clinical trials may not demonstrate anticipated efficacy, safety
cost savings in subsequent pre-clinical or clinical trials; (ii) Nephros may
obtain appropriate or necessary governmental approvals to achieve its business
plan or effectively market its products; (iii) product orders may be cancelled,
patients or customers currently using Nephros's products may cease to do so and
patients or customers expected to begin using Nephros's products may not; (iv)
Nephros's technology and products, including DSU technology, may not be accepted
in current or future target markets, which could lead to the failure to achieve
market penetration of Nephros's products; (v) Nephros may not be able to sell
its ESRD or water filtration products at competitive prices or profitably;
Nephros may not be able to secure or enforce adequate legal protection,
including patent protection, for its products; (vii) the reliability,
performance and endurance of Nephros' water filtration device and technology,
including its ability to remove a broad range of bacteria, viral agents and
toxic substances, may not be as effective as Nephros believes it to be; and
(viii) Nephros' water filtration technology may not achieve anticipated market
acceptance, including among hospitals, or that such technology may not be
suitable for other commercial, industrial or retail opportunities. More detailed
information about Nephros and the risk factors that may affect the realization
of forward-looking statements is set forth in Nephros's filings with the
Securities and Exchange Commission, including Nephros's Annual Report on Form
10-KSB filed with the SEC for the fiscal year ended December 31, 2004 and its
Quarterly Report on Form 10-QSB filed with the SEC for the fiscal quarter ended
September 30, 2005. Investors and security holders are urged to read those
documents free of charge on the SEC's web site at www.sec.gov. Nephros does not
undertake to publicly update or revise its forward-looking statements as a
result of new information, future events or otherwise.