SOURCE: AspenBio Pharma, Inc.

September 16, 2009 08:30 ET

AspenBio Adds Greg Bennett as Vice President of Product Development and Manufacturing

25 Year Industry Veteran to Lead AppyScore™ Cassette and Instrument Product Development and Manufacturing Launch

CASTLE ROCK, CO--(Marketwire - September 16, 2009) - AspenBio Pharma, Inc. (NASDAQ: APPY), an emerging bio-pharmaceutical company dedicated to the development of novel drugs and diagnostics for humans and animals, has added Gregory L. Bennett to a new position of vice president of product development and manufacturing.

Bennett's initial responsibilities will focus on finalizing product development decisions and advancing manufacturing arrangements for the cassette and instrument version of AppyScore™, the company's breakthrough diagnostic test for aiding in the diagnosis or rule out of human appendicitis.

Mr. Bennett brings to AspenBio Pharma 25 years of experience in product design and development focused in cassette and instrument test formats, including point-of-care ("POC") and home test products. He recently served as general manager of Cholestech's operations following the company's acquisition by Inverness Medical Innovations, Inc., in 2007. At Cholestech, Mr. Bennett served as vice president of research and development where he was responsible for the development and launch of its cholesterol instrument and cartridge system for POC use.

Prior to his six years with Cholestech / Inverness, Bennett spent 12 years with LifeScan, Inc., a Johnson & Johnson Company, where he served in increasing levels of responsibility and lastly as director of process development engineering. At LifeScan, he led the group responsible for the process development, scale-up and commercialization of several blood glucose monitoring devices. Bennett earned his B.S. in Mechanical Engineering from the University of Wisconsin, and has received specialized training in Process Excellence/Six Sigma and Stanford Executive Training - Corporate Finance and Portfolio Management.

"We are fortunate to attract the talent Greg brings to AspenBio Pharma," said the company's chairman and chief executive officer, Daryl Faulkner. "We have entered a critical period in our product development related to the AppyScore instrument and cassette system, and we believe his experience and skill will help us advance AppyScore down the path toward regulatory approval and commercialization. Greg's background and broad experience in diagnostic products in particular adds a valuable element to our management team."

About AspenBio Pharma

AspenBio Pharma, Inc. (NASDAQ: APPY) is an emerging bio-science company dedicated to the discovery, development and commercialization of novel products that address unmet diagnostic and therapeutic needs in both human and animal health. The company's AppyScore blood-based test addresses the difficult challenge of diagnosing human appendicitis in the hospital emergency department. The company is also advancing unique therapeutic proteins designed to improve reproduction in non-companion animals of economic importance. For more information, go to www.aspenbiopharma.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of the future as there are a number of meaningful factors that could cause the company's actual results to vary materially from those indicated by such forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the company believes are appropriate in the circumstances. Meaningful factors, which could cause actual results to differ from expectations, many of which are beyond the control of the company, include, but are not limited to, our ability to successfully complete the clinical trial data assessments required for FDA submission, obtain FDA approval for, cost effectively manufacture and generate revenues from, the appendicitis test in development, as well as the animal products and other new products developed by the company, and our ability to retain the scientific management team to advance the products in development, execute agreements to provide the company with rights to meet its objectives, overcome adverse changes in market conditions and the regulatory environment, and obtain and enforce intellectual property rights. The company does not intend (and is not obligated) to update publicly any such forward-looking statements. For other factors that may impact such forward-looking statements, reference is made to our annual and quarterly reports filed with the Securities and Exchange Commission.

Contact Information

  • Company Contact:
    Gregory Pusey
    Vice Chairman
    AspenBio Pharma, Inc.
    Tel 303-722-4008

    Investor Relations:
    Liolios Group, Inc
    Ron Both or Geoffrey Plank
    Tel 949-574-3860
    Email: Email Contact